What is Quick Exchange?

Quick Exchange is a feature on Liquid that facilitates the simple exchanging of digital assets and fiat currency. Trade without having to navigate complex trading dashboards. 

You can select the currency you’d like to buy and the currency you’d like to pay with. Enter the amount and complete the transaction.

https://www.youtube.com/watch?v=XSMcASctzAY&feature=emb_title

How to use Quick Exchange

Head over to the Quick Exchange portion of Liquid.

  • Select the currency you’d like to pay with at the top. 
  • Select the currency you’d like to receive at the bottom.
  • Enter the amount. 

You can use either the top or the bottom field. Entering a value into either field will auto update the opposite field with the respective amount.

Once all the details are filled out, click Quick Exchange!

What currencies and trading pairs are available?

The available currencies and trading pairs via Quick Exchange depend on prevailing market conditions. You may refer to the list of available currencies and trading pairs here.

You are able to trade any supported fiat to any crypto, and any crypto to any crypto with Quick Exchange. 

You are unable to trade fiat to fiat. 

Why use quick exchange over the regular trading feature? 

Quick Exchange is designed for simplicity. It allows users to trade without the complexity of the normal exchange dashboard. 

Quick Exchange also can facilitate the trading of two assets that are not paired on Liquid. You can trade any supported crypto with any fiat, or any crypto with any crypto using Quick Exchange.

How long does a Quick Exchange order take to complete? 

A Quick Exchange order will be instantly processed by Liquid. Once you have submitted the trade your wallet balances will be updated. 

What are the fees for Quick Exchange?

There is no set fee for Quick Exchange. Instead, Quick Exchange users will pay a premium on the spread between the two currencies to account for price movement and volatility. 

What is the smallest and largest order size for Quick Exchange?

Max limit of 40,000 USDe and min of 0.05 USDe (limits fluctuate due to exchange rates). There are also limits based on the trading pairs you select, based on liquidity. If your desired trade exceeds a limit the system will notify you and prevent execution. 

How will Quick Exchange interact with order books and charts on Liquid?

QEX doesn’t trade directly on our spot market. However, QEX will automatically trade into Liquid Spot Book as needed to hedge exposure. Hedge trades are not made on a 1-to-1 or back-to-back client deal basis, so QEX trades cannot be directly reconciled with Liquid Spot Book trades.

Is Quick Exchange available on Liquid Pro?

Yes. Please refer here on how to use Quick Exchange on Liquid Pro

Why is the pair I want to convert is not supported at the moment?

Pairs availability on Quick Exchange depends on prevailing market conditions.

What else should I know about Quick Exchange?

  • Japan and Singapore based users are temporarily restricted using Quick Exchange.
  • You can only convert up to your free balance amount.
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