How to sell a token on DDEX – 3 important keys to note

This post will discuss how to sell a token on DDEX  which most persons find difficult. Selling tokens on DDEX is quick and easy when you understand the steps needed. When you sell a token on DDEX, the resulting quote token (WETH, DAI, etc.) is transferred immediately to your digital wallet. You can unwrap WETH to ETH easily on DDEX or several other interfaces.

To sell a token you have or bought in your wallet on DDEX:

1. Select the token you wish to sell

2. Select the amount and price for the sale

3. Confirm the sell order (and “Enable” the sale if it’s your first time selling this token on DDEX)

This post will guide you through each step on How to sell a token on DDEX:

1. Select the token you wish to sell

In the top lefthand corner of the DDEX interface, select which trading pair you would like to sell.

You can search for a specific pair with the search bar, or scroll up/down to explore the trading pair options. Trading pairs are generally sorted by recent trading action.

Once you select a trading pair, the order book on the right will populate with all ongoing orders.

Sell orders are displayed in red, while buy orders are displayed in green. The orders displayed here are live: as soon as an order is filled, the order book will immediately update.

2. Fill in the sell details

Now you need to fill in the specifics of your order:

– Limit Order：Limited Price and Amount

– Enter the price you are willing to buy these tokens at. This is displayed in ETH per token.

– Enter how many tokens you wish you to purchase.

DDEX will calculate the total (including gas fee!) for you based on the current Ethereum Network traffic. You can see the estimated fee for a given order displayed next to the total.

Where you don’t have enough of the said token to sell, you’ll see an error flag as displayed above.

You can also click on an existing buy order in the order book to automatically update the limit price to match a particular order.

After entering the Limit Price and Amount for your sale, click the SELL button.

Tip: You can click on an existing buy order in the order book to automatically update the limit price to match a particular order.

– Market Order：Amount and Minimum Total 

For market orders, we let users only enter the amount field.

For all market orders, we need to protect users from executing at insane or unacceptable prices.

We set up a 10% price slippage rate from the current best bid or best ask price, as a market order protection mechanism.

Based on the 10% price slippage, we have calculated a worst case scenario for your order: minimum total (Know more on Market Order and minimum total)

3. Confirm the sell order (and “Enable” a token for selling)

Once you click the Sell button, DDEX will prompt you to confirm and sign the order before sending it to the order book.

If it is your first time selling a token on DDEX, you will first have to “Enable” sales of the token. You only have to do this the first time you sell this token on DDEX: after this, you will only have to sign an order to post it to the order book.

That’s it! Once you sign your order, you will see it appear in the order book. You can view and manage your ongoing orders in the “Orders” panel:

When your sell order is filled, the tokens from your sale goes directly to your digital wallet. No withdrawing needed!

Recall: to convert WETH back to ETH, simply click the UNWRAP WETH button.

A couple final notes:

• No gas fees are ever charged until an order is filled
  • You can place and cancel unfilled orders for free
• Tokens you purchase are transferred directly to your digital wallet
  • Add the contract address of a token to your wallet so you can see the tokens
  • When you buy a token, DDEX will give you information about the token to do so
• WETH can be unwrapped back to ETH at anytime. The ratio is always 1:1.
  • This is needed for facilitating direct wallet to wallet trades.
  • Can be done on other websites（e.g. 0x,DAI Explorer） besides DDEX too!
  • Enables you to trade without depositing/withdrawing

Also Read:

1. How to trade on DDEX web – 4 simple steps to follow
2. How to buy token on DDEX – 3 simple steps to buy token on DDEX

 

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