cryptsy

[opticalcarrier]

How do you use this?  How can I click on an open buy or sell offer and agree to it and execute?  It seeems lie I just have to create a new offer each time?  How are other people accepting my offers?

And do both buyer and seller pay fees?

[Don007]

Let me help you.

First you need to deposit a currency into Cryptsy to be able to trade - which sounds quite Obvious.
Then you click on an exchange. For example Litecoin / Bitcoin.

On the left you see 'Buy LTC with BTC'. You can fill in the amount of LTC you want to trade and for what price (stated next to 'price per LTC'). And then you hit 'Submit buy order'.
The price you want to be should be acceptable; you can see the price buyers are willing to pay and the price sellers are willing to accept under that box.

This is the same with selling LTC for BTC for example, but you have to use the right box 'Sell LTC for BTC' for that.

You need to pay 0,20% fee for buy transactions and 0,30% fee for sell transactions.

If you think my post helped you, and you are not reffered by someone yet; Please create an account with my referallink: https://www.cryptsy.com/users/register?refid=11356 or if you already have an account fill in my trade key (73ff8094ae4a3246b9d7cd117b71d96b265c4b90) under 'I was reffered by' at the dashboard (https://www.cryptsy.com/users/dashboard). Thanks in advance! (This will give me some Cryptsypoints sometimes, it won't harm you).

[opticalcarrier]

Well you didn't really answer my question. I've already done a few buy and sell trades but don't understand how they are matched up?  Why can I not just accept terms of an open proposal?  Why must I creates a whole new offer?  Its obvious that from the few trades that I've done that SOMEONE accepted it.  How did they do that?

[Don007]

Ah, well.

It's all about question and demand.  If you are going to "sell" for example LTC, you can fill in the price you want to earn. For example 0,03 BTC.
People who are looking to buy a LTC, can also fill in a price they are willing to pay. For example 0,025 BTC per LTC. 

And there´s the gap. This gap will change because either some sellers are asking less BTC for their LTC, or the buyers are willing to pay more BTC for the LTC. And that´s how the marked moves each minute.

If you want your LTC sold fast, look at the buyers. If you see they are willing to pay 0,025 BTC for your LTC, ask 0,025 BTC for your LTC.  The deal will be made in a few seconds then.


As i´m not a native English speaker, I don´t really understand your question ´Why can I not just accept terms of an open proposal?´. You can create an order, for example you want to sell 5 LTC at 0,04 BTC each. Just fill that in, and the order will stands for a long time. (Untill it is automatically removed by Cryptsy due to any reason or because someone bought it).

Besides, you can click on the offers in the sellers and buyers list. This makes the process of creating an order easier.

Did that help you?

[yeeeeye]

I trade at cryptsy, too. The way I understand is that trades will happen when there is a buy offer which matches a sell offer in price. Sometimes buy price is higher than sell price though, or your offer is not immediately accepted. That is because cryptsy is a bit laggy sometimes and displayed offers might not exist anymore. Depending where you are located, try to trade at night, works for me like a charm.

If you are into developer tools, you can check whether the ajax refresh requests get a response. If not, cryptsy is laggy.

Got it?

[Dkulak]

I think the fees are from both because thats how the site makes money but they are pretty small.

[Martijnvdc]

Does anyone else have issues on cryptsy? It seems to be very slow sometimes, to the point where it becomes unusable.

[yeeeeye]

Fees to be paid are displayed just above the submit button (as far as I remember, site is currently down). 0.3 % for seller, 0.2 % for buyer. Sums up to 0.5 % for cryptsy for each trade, pretty fair and standard.

And yes, I do have issues with site performance as well. Try to trade at another time of day, works really fast at night for me.

edit: Anyway, you're offers will go through most of the times, but you might end up waiting about a minute. Your offer might be off the current price, and if you decide to cancel it it sometimes takes them ages to refund the coins that were held for the trade. So anyway, be patient.

[yeeeeye]

Talking about huge load it's kinda funny how it fires 2 ajax requests per second when under "Open Orders" tab.