Users Trading With Fiat
Last updated
Last updated
With the users now having fiat credits in their wallets, the next logical step is to trade with it. This will be done using the Ramp that was set up previously.
The Ramp can be found in the Quick Trade screen, and then by selecting the desired Fiat currency, and finally the desired crypto to trade for. In the image below we can see that I have two options for GBP, BTC, and USDT.
From this point on the process is just as with any other OTC Deal. As long as the user has enough of the converting asset, and crucially, the exchange's source wallet has enough of the desired asset the trade will occur instantly with zero fees incurred for anyone.
Going through this flow as an example, let's request changing 10GBP to the correct amount of USDT (that being the price taken at the time of trade from Binance's GBP/ USDT market, minus the spread set in the Operator Controls).
Clicking Review Order above, we will see the pop-up confirmation screen below. The user will have a set amount of time to confirm the order at that price (this time is set in the OTC dynamic pricing section on creating the deal by the operator).
Finally, we get the success screen, and now the user has USDT in their wallet, and the source has 10 GBP credits.
