Trade
How to Access Trade and What It Is
Last updated
How to Access Trade and What It Is
Last updated
The Stellar Decentralized Exchange (SDEX) is a built-in marketplace within the Stellar network. Unlike centralized exchanges, the SDEX allows you to trade directly with other users without intermediaries holding your funds. This offers greater transparency and control over your assets.
Launch the Scopuly mobile application on your device. At the bottom of the home page, tap the “Trade” button.
Select Asset Pair:
You will be taken to the trading interface. Here, instead of selecting a ready-made trading pair, you choose each asset individually to create the pair.
First, select the asset you want to sell (base asset). Then, select the asset you want to buy (quote asset).
For example, if you choose SCOP as the asset to sell and XLM as the asset to buy, you will be trading the SCOP/XLM pair.
Once both assets are selected, the platform will display the current order book, charts, and available actions for trading this custom pair.
Choose Buy or Sell:
Once you’ve selected the asset pair, scroll down slightly to find the “Buy” or “Sell” buttons.
Tap the button corresponding to the action you want to take.
Market Research: Know the assets you're trading.
Order Types: Understand the difference between limit and market.
Price Accuracy: Always double-check what you enter.
Amount Accuracy: Ensure you're selling/buying the correct amount.
Network Fees: Trading incurs minimal Stellar network fees.
Risk Management: Only trade what you're prepared to lose.
When viewing a trading pair in the Scopuly mobile app, you'll see several key components that help you understand market activity and make informed trading decisions.
📍 All this information is located just below the Buy and Sell buttons on the "Trade" page after you select your asset pair.
This shows the total amount of the selected trading pair that has been traded over the past 24 hours. It gives you a sense of how active and liquid the market is for this pair.
The order book displays all open buy and sell orders for the selected asset pair.
Buy Orders (Bids): Show how much other users are willing to pay and at what price.
Sell Orders (Asks): Show how much of the asset is available for sale and at what price.
This section helps you see the supply and demand in real time.
This section shows the list of completed trades on the market for this asset pair.
You'll see the price, amount, and time of each trade.
It provides insights into recent market behavior and price trends.
Each asset comes with a rating system that reflects its trust and reputation in the Stellar network.
The rating is based on a mix of factors like verified domains, asset usage, and community trust.
This helps you assess the reliability of lesser-known assets before trading.
