How to set Limit Orders like a pro !
3 simple steps to create a limit order. Let’s do it:
Step 1: Login into your account at KyberSwap.
If you don’t have an account; please create one. KyberSwap offers Facebook, Gmail, Twitter, Telegram and Email based login.
Step 2: Connect your wallet, select the tokens & enter your desired swap rate.
KyberSwap supports almost all major wallet options.
For Limit Orders, the minimum trade size for the token has to be worth 0.1 ETH in value. Example of a user converting ETH to KNC via limit order:
Please make sure that you type a preferred rate that is HIGHER than current market rate.
Important: ETH needs to be wrapped to WETH to be used in a non-custodial Limit order. This is a standard technical requirement for Ethereum. KyberSwap has made it super simple; if you don’t have enough WETH, you will be prompted to convert ETH → WETH on the fly with a single click.
Step 3: Approve & confirm your order
Approve token. You do NOT need to transfer WETH to KyberSwap. However, you need to grant permission to KyberSwap to interact with the token in your wallet. Please note that this step is required only ONCE for each token.
Confirm your order. You also need to sign the message from your wallet. You don’t need gas to create limit order.
After successful submission, the order could be seen under “Manage Your Orders”. Submit and cancel your orders anytime, no gas fee required.
Hold KNC for substantial discounts on fees
UPDATE: Buy and hold at least 2000 KNC (Kyber Network Crystals) to enjoy GAS-FREE and NO-FEE Limit Orders on KyberSwap!
Token Balance Available for Limit Order
Some users may notice that “Token balance available for limit order (TBALO)” is shown on limit order screen. Ideally, TBALO balance should be same as actual wallet’s balance, but in some cases it may be different. Let’s us try to explain this with an example —
Example
A user named Nakamoto has 1 ETH* in his account and wants to submit a limit order to convert 0.5 ETH* to KNC. Let’s see how TBALO and actual wallet balance changes during transaction life cycle:
ETH* indicates the sum of ETH and WTH for easy reference. You’d need to swap ETH to WTH to set a limit order to swap for another token.
Let’s set non-custodial Limit Orders now!
Contact Shane on Telegram if you have questions.
