How to Post a Buy Trade Ad with Dynamic Pricing
A BuyCoins Trade Ad is an advertisement that lets other users know you’re willing to buy or sell cryptocurrency. However, like with all advertisements, it is dated and only reflects the situations – or in this case, cryptocurrency rates – that were present at the time of its creation. Therefore, a trader might lose out on profiting from their trades due to volatile prices. This is where Dynamic Pricing comes in.
Dynamic Pricing is a feature that enables users create trade ads at rates that change depending on a drop or spike in the general price of cryptocurrency. With dynamic pricing, we pull cryptocurrency prices from Bitstamp in USD and multiply it with the Naira exchange rate you will manually set. The requirements for creating a trade ad still apply to dynamic pricing:
- Your BuyCoins account must be completely verified. You can find out how to do that here.
- If you want to trade cryptocurrency peer-to-peer, you need to have internet/ mobile banking.
Step 1: Go to the Post a Trade Ad page
You can do this by clicking 'Post a Trade Ad' from the 'Trade Peer-To-Peer' Menu.
Step 2: Select dynamic price and set your trade preferences
- Select the 'Buy BTC' option in the 'Post a BTC Trade Ad' page, select 'Dynamic Price' from the 'Price Exchange Rate' dropdown and set your preferred exchange rate in the 'Price Exchange Rate' text field. The price per BTC that appears is the current price automatically drawn from Bitstamp’s API multiplied by USD rates which you inputed in the text field.
- Set the limits for your trade, add the bank account you wish to make payment from and then click 'Review Details'.
- Before your Trade Posting can go live, you need to confirm the trade ad. By confirming the Trade Ad, you're agreeing to buy any BTC amount between your minimum and maximum limits plus our processing fee. Confirm that the details are correct, then click ‘Post Buy Trade Ad’.
- After posting your trade ad, you'll see a summary page of your buy trade ad and a green pop-up notifying you that your trade ad was successful.
- Your trade posting is now active and you can see it on your list of trade ads.