Miracle Tips: How to Trade Tele Through your Dashboard
Maintaining and sustaining momentum is critical to the growth and development of any project, more so the blockchain industry where decentralized solutions for centralized ills keep churning out by the hour. This has resulted in disparate solutions within the same ecosystem that ends up befuddling users more than it solves their problems.
Recognizing the need to streamline services and provide a one-stop-shop for ecosystem users, Miracle Tele developed and launched a proprietary, trading module enabling our users to buy and sell TELE tokens through peer-to-peer exchange in their dashboard. This feature has made it possible for users to acquire TELE tokens from within their dashboard risk-free.
How to Trade
To start using this feature, the user’s account has to be unlocked first by depositing a minimum of €10 first. Guide on how to do so can be found here. It takes 24 hours to unlock the account after deposit.
After the account has been unlocked, a new option will appear in your dashboard menu called TRADE.
From the trade menu, users can buy, sell, and check in on the progress of their bids. Trading on the platform uses an order matching bot to match buy bids to sell bids and vice versa. Users set the amount of TELE they want to buy or sell and at what price in euro.
If there is a matching bid, the bot automatically pairs the offer and execute it. If there is none, the bid is published under its respective order and will only be executed when there is a bid that matches the buy or sell price. The bot is also capable of partially filling orders as long as the price matches.
All sales are deposited into the earnings of the seller’s account after manual approval.
Limitations
The first thing we’d like to point out is that this is not an exchange. The feature is not meant for arbitrage or scalping. Yes, there’s an orderbook that shows buying and selling bids, but there is no chart, no trading history, no stop-loss. The orderbook only exist to help users make informed decisions if they want their bid to be matched immediately by the bot.
Despite this disclaimer, there’s been no stopping users from trying to use the feature for arbitrage and scalping. Hence the need for the following limitations:
- Only internally bought tokens can be traded on the platform.
- Airdrop and bounty tokens are not eligible
- Every account has a cap on the amount of tokens they can freely sell and have the amount deposited into their earnings. Individual cap can be found by going into the profile section and looking for Token sell estimates, TELE. Once the cap is reached, sales deposit into earnings will remain in a perpetual waiting state. This means earnings will never be funded with the proceeds from sales. Rather, they can only be withdrawn to balance
