📈How to Buy on LibreDEX
How to Place a Buy Order on LibreDEX
Last updated
How to Place a Buy Order on LibreDEX
Last updated
Log into your accounts on LibreDEX as shown in this How-To.
In LibreDEX select the DEX tab:
If you have questions about the general layout of the DEX please review this page of our Docs section.
Below "Orderbook" in the top left you can select the dropdown arrow to reveal all of the BRC20 tokens available for trading on LibreDEX. In order to input a Buy order for a BRC20 you will need to select the token that you would like to purchase.
VMPX is being selected for this example. In order to buy tokens you will also need some Sats in your wallet.
When buying tokens on the LibreDEX you need to decide if you want to buy tokens for a fixed or limit price in sats regardless of what sellers are offering, or if you want to buy your tokens for whatever price the current sellers are willing to sell for.
If buying at whatever price sellers are willing to pay, the easiest way to populate the Amount and Price fields is to click on one of the red numbers in the order book indicating the various price levels.
If we select the 208 value it will populate the Buy order as follows:
Since this account doesn’t have enough Sats available we need to select a smaller number for the Amount box. For this example the Amount was reduced to 10 VMPX tokens:
If acceptable, select "Buy VMPX". Once this happens a signing window will pop up to sign for the transaction with your Libre account. This presentation was completed on a PC with the Anchor wallet installed.
Once the transaction is signed it will be instantly executed. Your LibreDEX UI and Libre wallet will update accordingly with more token AVAIL (now 110 vs 100), and less Sats AVAIL in this account. The Trade History is also now updated with that sale transaction.
If you would like to place a buy order but for a price lower than the listed Sell Prices, enter the amount of tokens you'd wish to buy and manually enter a price per token in sats that you'd like to buy for. In this example a bid for 100 VMPX tokens will be listed at a price of 160 sats/token.
After "Buy VMPX" is clicked a pop-up will be seen like the earlier example to sign with your Libre account wallet.
Once signed the DEX UI will immediately update to now show in the Orderbook a 160 sat/VMPX price level with 100 tokens willing to be purchased. Also the Open Orders section is now updated with the newly placed sell order or “offer”.
You can Cancel your buy order at any time by finding the offer in the Open Orders section of the UI and selecting “Cancel”. You will be prompted to sign for the transaction with your Libre account wallet. Once completed, the sats committed to this order will immediately be returned to your wallet as liquid sats.
FIN
