Table of Contents
- What digital currencies can I trade other than Bitcoin?
- Order Types
- Where Can I Find the Trading Fees?
- Order Book Terms
- How do I View My Account History?
- How do I cancel a pending order?
- Can I buy ZOOM tokens using BTC?
- How do I manage Open Orders?
- Is there a limit for a single order?
What digital currencies can I trade other than Bitcoin?
Current list of digital currencies is available on the CoinZoom website: https://www.coinzoom.com/trading-platform/
CoinZoom offers several order types via the Order Form box to give you the tools necessary to execute your trading strategy successfully.
A market order is an order type that executes immediately against the best price available. As long as there are willing sellers and buyers, market orders are filled. A market sell will match the best available bids on the order book, and a market buy will match against the best available asks on the order book.
Market orders are often used when rapid execution is prioritized over the price at which the order executes. When placing this order, the trader prefers the trade to happen immediately at the current best price available.
Market orders are charged the Taker Fee.
A limit order is one of the most basic order types. It allows the trader to specify a price and amount they would like to buy or sell.
Example: If the current market price is 250 and I want to buy lower than that at 249, then I would place a buy limit order at 249. If the market reaches 249 and a seller’s ask matches with my bid, my limit order will be executed at 249.
A buy limit should be placed at a price below the current market buy price. A buy limit placed below the current buy price will be charged the Maker Fee if the order is filled. A buy limit placed above the current buy price will be filled immediately and be charged the Taker Fee.
A sell limit should be placed at a price above the current market sell price. A sell limit placed above the current sell price will be charged the Taker Fee if the order is filled. A sell limit placed below the current sell price will be filled immediately and be charged the Taker Fee.
A stop order is used to trigger a market buy or sell when the market crosses your trigger price. This is often used as a stop loss order if the market is moving against an open margin position. Stop orders will fully execute as a market order once the trigger price is reached.
Example: If the current market price is 250, the trader in a long position might want to sell if the price reaches 245. A stop sell at 245 will be used in this case.
If shorting, a trader would place a buy stop above the current price. This would mean that if the market goes against their short (up) they can cut their losses by buying to close or reduce their short position.
Example: If the current market price is 250, the trader in a short position might want to buy if the price reaches 255. A stop buy at 255 will be used in this case.
A sell stop should be placed at a price below the current market buy price. A sell stop placed below the current sell price will be charged the Maker Fee if the order is filled. A sell stop placed above the current sell price will be charged the Taker Fee if the order is filled.
A buy stop should be placed at a price above the current market sell price. A buy stop placed above the current buy price will be charged the Maker Fee if the order is filled. A buy stop placed below the current buy price will be charged the Taker Fee if the order is filled.
Where Can I Find the Trading Fees?
CoinZoom's low trading fees are found on the Fees page of the CoinZoom website.
Order Book Terms
This is the number of coins offered at a specific price point.
The Bid side of the order book is on the left and colored green. The Ask side of the order book is on the right and colored red.
This is the total number of orders at that level. A count of 1 means that 1 order is at that price point. A count of 6 would mean that there are 6 orders at that price point.
Clicking this will reveal the entire order book.
Frequency (Real Time or Throttled)
Selecting “Real Time” will produce live results of order book changes as they occur. Selecting “Throttled 5s” will update the order book every 5 seconds.
This is the offer price by a trader or traders at a specific price point.
In the funding order book, this is the amount of time the funding is being requested for (by bidders) or offered for (by funding providers). It can be 2-30 days. If there is one or are multiple offers at a specific rate for the same period, then only that period will display. If there are multiple offers at the same rate but different periods, then a range will display (2-30).
Precision (- / +)
It is possible to decrease or increase the precision of offers displayed in the order book. Press the (-) if you wish to see orders grouped together for a broader view of the entire order book, or (+) if you prefer to see more detail in the order book.
In the funding order book, this is the interest rate bid by the trader or ask by the funding provider.
This is the cumulative number of coins offered to a specific price point. In other words, this is the sum of all “amounts” leading to this price level in the order book.
How do I View My Account History?
Click on "User Trade History"
How do I cancel a pending order?
You cancel a pending buy or sell (buy limit, sell limit, buy stop, sell stop).
Under the Trade tab, go to "Open Orders"
Find the order you want to cancel and click the red "Cancel" button
Can I buy ZOOM tokens using BTC?
- Go to the Trade tab
- Click BTC in the market watch
- Choose ZOOM/BTC from the list
- Enter the Amount you want to purchase
- Click the green "Buy ZOOM" button
How do I manage Open Orders?
You can view and manage open orders:
- Log into your CoinZoom Account
- Click on "Orders"
- Log into your CoinZoom application
- Click the Drop Down Menu in the upper left hand corner
- Click "Order Management"
Is there a limit for a single order?
There is a limit for how much of a single token can be traded at once. The limit is currently 100,000. With orders this large the price of each token can be quite volatile.