In the LoMoStar application you are able to trade all kinds of different cryptocurrencies. You can either accept trades which are published by other users or create your own ads.
To get to the trade section, you have to click on “Trade” at the bottom of the screen.
See screenshot:
- How to search and accept trades by other users
Once you are in the trade section, you can see directly the published ads by other users. To search for a specific, desired trading pair, you first have to choose a base token. To choose the base token, you have to click on the field below T2T at the top left of the screen (See 1). Afterwards you have to choose the corresponding token, with which you want to trade the base currency (see 2). To confirm the base currency or the corresponding token, you have to click on each token and afterwards on “OK” (see 3)
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After having chosen your desired trading pair, a list will show up with all the corresponding trading pairs available. The list is ordered by the best exchange rates from top to down.
In the next step you can choose if you want to exchange the base token for the other cryptocurrency or vice versa.
For this, the two arrows in the middle of the upper screen are being considered.
-> This arrow means that you exchange the base token for the other chosen cryptocurrency (see 1)
<- This arrow means that you exchange the other cryptocurrency for the base token (see 2)
See screenshot:
Afterwards you can choose the most suitable ad for you and click on “Exchange”. You will be redirected to the screen where you can trade.
See screenshot:
In the following are the explanations for each field of the screenshot provided above:
1. This is the exchange rate for the corresponding ad.
2. Range: With this user, you can trade any amount of the cryptocurrency that you want to offer your trading partner within this range. In this example, between 1–100 LMC.
3. Deal: The amount of trades that this user already realized in total.
4. Payment: Here you have to put the amount of the cryptocurrency that you want to offer. (Has to be within the Range explained in 2.)
5. Exchanged: The amount of the cryptocurrency that you will receive in exchange according to the exchange rate. (without fees)
6. Actual get: The amount of the cryptocurrency that you will receive after the trade is realized (fees included)
7. Balance: The amount of the token you want offer that you currently have in your app wallet.
8. Click “Exchange” to realize the trade.
After you´ve clicked on “Exchange”, you have to provide your payment password and the trade will be realized directly. You will see the following screen, if the trade was successful:
- How to open your own ad
To create your own ad, you have to go to the main trade screen and click on the little
symbol at the bottom left of your screen. You will see three option and you have to choose the option at the top.
See screenshot:
After clicking on the corresponding symbol, you´ll be redirected to the “Publish an ad” screen. Here you can create your own ad.
See screenshot:
In the following are the explanations for each field of the screenshot provided above:
1. Here you have to choose the desired exchanging pair. This works on the same principle as searching for the desired trading pair (explanation above).
2. Price type: Here you can either choose if you want a “Floating” or a “Fixed” price.
- If you choose the “Floating” price, the current real-time value of the token (correlated to the token you are trading with) will be taken as the exchange rate and depending if the value of the token goes up or down, your exchange rate will change accordingly in your published ad. This means that you do not have to be aware all the time of the price changes and fear that you sell below the current value. The “floating” price is not available with all tokens.
- If you choose the “Fixed” price, you can input an exchange rate that you want and this exchange rate will always stay the same, as long as this ad is published. Field 3. and 4. (in the screenshot above) won´t show up if you choose “fixed” price. Instead appears a new field named “Fixed price”, where you can input your desired fixed exchange rate.
See screenshot:
3. Float ratio (only visible with “floating” price): Here you can either increase or decrease the floating price with a desired percentage. If you choose the icon “+” and insert a percentage number, the floating price will be increased by the chosen percentage. If you choose the icon “-“, the floating price will be decreased.
Example: If you input 10 and choose the icon “+”, the exchange rate of your ad will always be 10% above the current real-time market exchange rate, as long as your ad is published.
4. After premium (only visible with “floating” price): Here you see the current real-time market exchange rate.
3. Minimum limit: The minimum amount of the cryptocurrency that you want to receive with which your trading partner can execute a trade.
4. Maximum limit: The maximum amount of the cryptocurrency that you want to receive with which your trading partner can execute a trade.
5. Target Volume: This is the target volume of the cryptocurrency you are offering to trade and which one you would like to achieve with this ad. An ad that you´ve published can be executed various times by the same or different users, until this target volume is reached.
6. Here you can write down a message. This message will be seen by every user visiting your ad.
7. The fee to create this ad.
8. Click “Publish” to make this ad available to everyone in the trade section.
Once you´ve clicked “Publish”, a new screen will appear and you´ll be asked to confirm the publication of this ad. Click on “Post ad”.
See screenshot:
Your ad is now available to everyone in the trading section. Keep in mind that all trades will be executed automatically. You can publish up to 5 ads.
- How to review and close your ads and how to check your realized trades
To see an overview of your published ads or your realized trades, you have to click again on the little
symbol at the bottom left in the main trade screen. To go to your “My ads” overview, click on the “ad” symbol (see 1) and to go to your “My orders” overview, click on the “list” symbol (see 2).
See screenshot:
- “My ads” overview
After clicking on the “ad” symbol, a new screen appears where all your published ads are listed. You can see further information about your ad or close your ad by clicking on the corresponding ad.
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In the overview about a specific published ad, you can see information like how long this ad is online, how many times this ad has been executed, you can disable or close the ad etc.
To close the ad, you have to click on “Close the ad” at the bottom of the screen.
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Thereupon a pop-up will appear where you have to confirm this step by clicking on “Close ad”. Your ad is now closed and not available any more in the trade section.
- “My orders” overview
After clicking on the “list” symbol, a new screen appears where all your realized trades are listed. Here you have the opportunity to get more information about each realized trade by clicking on the corresponding trade or you can search through this list based on certain criteria.
See screenshot:
