Sell Accepted Virtual Assets or Stablecoin for US Dollars

 

MidChains allows you to sell your Accepted Virtual Assets or Stablecoin for the US Dollar. To sell your Accepted Virtual Assets on the MidChains trading platform, follow these steps.

 

Requirements:

  1. A verified MidChains account. If you haven’t already registered. You can sign up here.

  2. Funded Virtual Asset or Stablecoin Wallet on MidChains' platform. Follow these guides on how to Deposit Accepted Virtual Asset or Stablecoin into your MidChains Wallet.

 

Steps:

  1. Log in to your MidChains account.

  2. Navigate to the trading Portal

  3. Select your preferred Accepted Virtual Asset or Stablecoin.

  4. Select the MKT (Market) order option for your selected trading pair from the Order Ticket panel.

  5. Select the SELL order option before proceeding with the next step.

  6. Enter the units of the Accepted Virtual Asset or Stablecoin you wish to sell in the Amount field.

  7. The Type and TIF for a Market order are set to MKT and IOC by default.

  8. The notional amount of your Sell Market order will be displayed in the Total.

  9. Submit your order to execute against a Buy order in the Order Book (indicated in green). Your order will execute immediately.

10. Your Available Balance will reflect your sold Virtual Asset or Stablecoin less fees charged.

11. Details of your purchase will be recorded in the Fills blotter below the Order Ticket panel and Chart box.

Note: The Market order guarantees that your order to sell a Virtual Asset or Stablecoin will be executed if there is liquidity but does not guarantee the execution price. Always check the Fills blotter for details such as units of the Virtual Assets or Stablecoin, price and fees charged for your purchase.

 

Alternatively, you may sell your Accepted Virtual Asset or Stablecoin using the Limit order option if you wish to determine the price. Limit orders on the MidChains platform allow you to specify the price and quantity of Virtual Assets or Stablecoin you wish to sell.

 

Steps:

  1. Log in to your MidChains account.

  2. Navigate to the trading Portal

  3. Select your preferred Virtual Asset or Stablecoin.

  4. Select the LIMIT order option for your selected trading pair from the Order Ticket panel.

  5. Select the SELL order option before proceeding with the next step.

  6. Enter the units of the Virtual Asset or Stablecoin you wish to sell in the Amount field.

  7. Enter the price at which you wish to sell the selected Virtual Asset or Stablecoin in the Price field.

  8. Select your preferred order Type (Limit for illustration purpose).

  9. Select your preferred TIF (GTC for illustration purpose).

  10. The notional amount of your Limit order will be displayed in the Total. The notional amount is a computation of how much you are willing to sell the specified units of your selected Virtual Asset or Stablecoin at your specified price (Total = Amount x Price).

  11. Your order will execute immediately against a Buy order in the Bid side of the Order Book (indicated in green) if the specified price for your order can be matched. Otherwise, your order will be recorded in the Ask side of the Order Book (indicated in pink) and in the Orders blotter until it can be matched (in the case of GTC, GTT orders).

  12. Your Available Balance will reflect your sold Virtual Asset or Stablecoin less fees charged.

  13. Details of your purchase will be recorded in the Fills blotter below the Order Ticket panel and Chart box. 

 

Note: for a further guide on how to trade on the MidChains MTF, please visit our Help Center. Details of the various order Types and TIFs available on the MidChains MTF can be accessed here.