- Once you reach a preliminary agreement to trade, the Genesis trading desk will receive notice of the trade. You’ll be able to see your active trades as shown below. Trades will remain “Active” until both the fiat and digital assets are transferred to each party. You can track the status of your trades in the “status” column.
- Once you submit an initial trade, you'll be asked to “Finalize Terms” until you and Genesis accept and agree upon the specified price and volume/value of the trade.
- Once the trade terms are agreed upon and accepted by both parties, the status will show “Payment info” indicating that the next step in the process is to transfer the fiat (if buying) or digital currency (if selling) to Genesis.
Please note that once the trade terms are agreed upon in the prior step, you are no longer subject to price risk and your only step remaining is to settle the trade.
A Live Trade Example
In the image below, the XBT trade is still awaiting action from the Genesis trader. The two ETC trades have been accepted by both parties at a given price/value and are just awaiting payment information from both parties to finalize the trade.
Once Genesis puts a quote on the platform the quote displayed in the “Last Bid” or “Last Offer” column depending on if you’re buying or selling. In this case, Genesis has quoted an offer price of $2552 for the 1 XBT. The small blue dot on the left-hand side of the screen indicates that the terms of the trade are now waiting on the counterparty to take action.
By clicking into the trade, you can either accept the quote provided by Genesis or counter-quote as shown below. Additionally, you can see the summary of the trade details in the upper right corner under “Terms” and a history of the different steps that have unfolded during this trade in the middle-right hand side of the image below.