How to use the “Buy” feature of the Cryptocurrency Exchange Script?

If you’re planning on starting a cryptocurrency exchange, you could have a look at BitExchange Cryptocurrency exchange script. Once you install, configure, its ready to go.


Best Cryptocurrency Wallet Script

Here we guide you through the step by step instructions on how to test each of the flows on the cryptocurrency exchange script.

If you’re looking to test the sell flow of the Bitexchange cryptocurrency exchange script, read here

Let’s test the “BUY” flow of the BitExchange cryptocurrency exchange script.

STEP 1: Register on BitExchange demo site

STEP 2: Once registered and logged in, you land on the Dashboard.

How to test the sell feature on the BitExchange

 

STEP 3: Before you buy a cryptocurrency, you would need to make a deposit fiat currency into the account, and for that you would need to enter your bank details.

In a fully live version of your exchange script, a customer would have to transfer the amount from their bank account to the exchange’s bank account and enter the transaction details on the system, so you can verify the transaction details and approve the transaction.

Since the script is in demo mode, you can enter demo details and they will approve it in the admin panel for you.

Click on the “Bank Accounts” button on the left navigation tab,

Step 4: Once you are on the Bank accounts page, click on the Add account button, you will be taken to the section where you can add your bank account.

Enter the respective details and click on add account to save the bank details.

Step 5: Now let’s make a deposit. Click on the Add deposit button

After a user has deposited the fiat currency to the bank account of the exchange, they can enter the details of the transaction here. From the admin panel, the administrator of the cryptocurrency exchange can verify the transaction against the details entered and then approve it manually.

Once they do, the pending status of the transaction would have been completed and the amount shows up on the user’s fiat currency balance.

 

Step 6: Click on the “Buy/Sell” button, it will take you to the trade page.

Step 7: Assuming that your deposit has been approved by now, On the left column, which says “BUY”, choose the coin you would like to buy. The process for buying both BTC and LTC are the same.

At the top of the buy box, the Fiat currency amount you have in your account is shown, you can enter the number of the cryptocurrency you want to buy in the amount to buy field. In the “Currency to use”, you would have to choose the fiat currency you are planning to use to pay for the crypto coin.

Below the “Currency to use” box, we have the three types of order that a buyer can create.  Buy at market price, limit order, stop order.

Buy at market price, is when the cryptocurrencies are bought at the current market rate.

Limit order, when the trading price matches the amount specified the order is executed.

Stop order, when the price goes above the amount specified, the order gets executed.

Once you select the order type (limit order or stop order), you would be able to specify the amount. The limit price you specify is for 1 bitcoin.

The subtotal along with the fees and the commissions are shown here for the number of coins you entered earlier.

Tip: The buying and the selling limit price shouldn’t be the same, the buying limit price per cryptocurrency should be lesser than the selling price. 

Step 8: Click on the Buy BTC button and you will be taken to the confirmation box as shown below.

Step 9: After you click the “Confirm Buy” button, your order will be created successfully and you will be redirected to the ORDER Book page.

Step 10: Here you can view the orders that are still pending and the completed transactions.

 

The total number of transactions (Buy and Sell)

The images are for representational purposes only, since the version of the software is being constantly updated. It may not resemble the latest version. To view the latest version of the site, visit the demo site of BitExchange Cryptocurrency Exchange Script. 

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  • Rosetta Alison

    Thanks for explaining the using of buy features in cryptocurrency exchange script.
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  • amara sophi

    Really an immense article! Thanks for sharing. I have got a clear idea about “buy” feature of cryptocurrency exchange script. If anyone is interested to know more about the features of Bitcoin exchange script visit the most reliable solution provider of Bitcoin exchange–>https://www.cryptoexchangescript.com