How to buy ITCO for new user

Overview

  1. Register for Coinjax account

  2. Login to Coinjax

  3. Trade ITCO


I. Register new Coinjax Account

  1. Register for a new account on https://exchange.coinjax.com/register

  2. Upon successful registration, you will see an success message requesting that you login


II. Login to Coinjax

  1. Login to Coinjax: https://exchange.coinjax.com/login 

  2. You will see a message prompting you to check your Coinjax email address to verify your login.

Note: This is a standard practice to secure your account. Whenever you login from a new device, location or IP, Coinjax may prompt you to verify your login. 

  1. Go to your email inbox and click on Coinjax’s email with the email title: Please Confirm Login From New IP Address

    Note: If you do not see this email, please check your SPAM folder and add hello@coinjax.com to your email whitelist.

  2. In the email, click on the “Enable IP” button. You should be brought to the Login page again with a success message.

  3. Login again with your Coinjax account details


III. Trade ITCO

Note: Right now, CoinJax only supports direct trades between ITCO / BTC. If you do not have BTC, you can also exchange ETH for BTC using CoinJax.

  1. To start trading ITCO, you will need BTC. (Or ETH which you can trade for BTC on CoinJax)

    Please see Funding your account with cryptocurrency for instructions on how to deposit BTC or other currencies.

  2. You can trade ITCO by clicking here: https://exchange.coinjax.com/trade/itcobtc

    Or you can click on ITCO / BTC at the bottom of CoinJax Exchange’s homepage: https://exchange.coinjax.com/ 

  3. To trade ITCO, You can choose to place a limit or market order:


            A MARKET order will execute immediately at the current market price.  (Warning: Not recommended for new traders.)


            A LIMIT order lets you set your own price.



How to place a LIMIT order

  1. Click on Limit tab in the Orders Form section 

  2. Enter the order size and your price.

  3. Click Buy ITCO or Sell ITCO to submit your order


In the example below, the order is set to buy 10 ITCO tokens at 0.00000566 BTC per token.



Note 1: Unfilled orders will still freeze parts of your balance to ensure that you have enough balance to fulfill the order. For example, if you enter a buy LIMIT order which will use 0.5 BTC. Even if the order is not filled, 0.5 BTC will be deducted from your balance until you cancel the order.


Note 2: You can cancel unfilled LIMIT orders by going to Orders Panel as shown below:


How to place a MARKET order (Warning: Not recommended for new traders.)

  1. Click on Market tab in the Orders Form section

  2. Enter size of your order

  3. Click on Buy ITCO or Sell ITCO


Note #1: Market orders cannot be cancelled because they are filled immediately.

Note #2: Market orders may be partially filled at several prices. Each part of your order will be shown in the History tab of the Orders panel

Understanding the Order Book


The order book panel will provide information of what are the current unfilled buy and sell orders for ITCO of users on CoinJax. 


When you place a new order, your orders are matched against the orders on the order book. If you placed a LIMIT order, any quantity that is not filled will appear on the order book for other users to trade against.

The top part in red represents the unfilled orders to sell ITCO. The bottom part in green shows the unfilled orders to buy ITCO. The green and red bars provides a quick visual guide to the accumulative quantity on the order book.


Following the above example order book, you can buy ITCO at 0.00000578 BTC and above. And sell ITCO at 0.00000536 BTC and below.


The above shows that there are 80146 ITCO being sold at various prices. Starting at 9 ITCO being sold at a price of 0.00000571 BTC to 500 ITCO being sold at 0.0000067 BTC.


Using the above example, if you were to enter a LIMIT order of Price: 0.00000571 BTC, Quantity: 20 ITCO, 9 ITCO would be bought immediately and the remaining 11 ITCO will appear as a buy order on the order book waiting to be filled by other sellers.


However, if you were to place a MARKET order of 20 ITCO, all 20 ITCO would be bought immediately at prices from 0.00000571 to 0.00000575 BTC. In other words, the market order will attempt to buy your specified amount of ITCO at best possible price of all the sellers. As the order book changes very quickly due to other users buying and cancelling orders, the price that your market order gets filled at may be very undesirable. Therefore, use market order at your own risk!