In this tutorial I will show you how you can buy a coin instantly and without fees directly for the market price. Besides, you don't just buy the coin, you also support the project at the same time.
Where do I find the "Quick-Buy" function?
After you logged in, navigate through the wallet overview to the coin you want to buy via "Quick-Buy". If the coin supports the function, you can click on "Quick-Buy" in the sub navigation. You identify which coins are supported by the available apps icons. ( = Quick-Buy)
Requirements
Currently can only support coins listed on StakeCube and Crex24.com
Currently can only support coins listed on StakeCube and Crex24.com
How do i buy coins?
In the Quick-Buy overview you will see all the necessary parameters. There will show you how many coins are available to buy, the current market price (best sell price on exchanges, updated regularly) and of course your account balances.
If there are 'enough' coins available and you have enough Bitcoin in your account, simply enter the quantity you want to buy in the "Amount" field and confirm the transaction by clicking on "Buy". After confirmation, the total BTC value will be deducted from your balance and the coin(s) will be credited to your wallet. Please note the minimum buy quantity below the input field.
The table "STAKECUBE BUYBACKS" shows more details about previous Quick-Buys and Buybacks - Fully transparent and traceable for everyone.
Read more about your benefits and how you simultaneously support the project in the following sections:
What are my advantages?
- One advantage is that you do not pay any fees for your purchase, as usual on exchanges. You get exactly the amount you wanted and the complete BTC (minus network transaction costs) are used to support the project without StakeCube charging or collecting any fees.
- Another advantage: You can simply invest in coins without needing knowledge about how to use a crypto exchange, which makes the entry easier for many new users. The purchased coins are generating stake rewards right away and you can use them in any other function on StakeCube.
- The market price is always pulled from the supported exchanges and guarantees a certain liquidity and protects against overpayment.
How do i support the project with my investment?
Many coins, especially with little volume and little liquidity, facing the problem that buying and selling against the market generates large price fluctuations. Investors and coin developers are very interested in stabilizing the price and making it less volatile. If there is no big demand, even smaller sales can push the price down.
The "Quick-Buy" function, is supposed to strengthen the coin markets and generate potential for (price) growth. To understand how your purchase supports the project, StakeCube shows you exactly what happens when you use the "Quick-Buy" function:
1. User buying coins from the Quick Buy pot. This transaction does not generate a market buy or sale.
2. StakeCube sends 100% of the collected BTC to the supported exchanges. This process operates several times a day.
3. Our script automatically places buy orders into the orderbook of the respective coins. The quantity remains the same, but the price is reduced by a certain difference, to avoid a directly executed trade.
4. These buy order(s) achieves the purpose of Quick-Buy -> a contribution to the price stability and more liquidity.
5. As soon as another user sells his coins on the market and our Quick-Buy order is filled (also called "Buy-Back"), the purchased coins are sent back to the Quick-Buy pot. This process operates several times a day.
6. New coins are now available for purchase and the cycle is complete.
2. StakeCube sends 100% of the collected BTC to the supported exchanges. This process operates several times a day.
3. Our script automatically places buy orders into the orderbook of the respective coins. The quantity remains the same, but the price is reduced by a certain difference, to avoid a directly executed trade.
4. These buy order(s) achieves the purpose of Quick-Buy -> a contribution to the price stability and more liquidity.
5. As soon as another user sells his coins on the market and our Quick-Buy order is filled (also called "Buy-Back"), the purchased coins are sent back to the Quick-Buy pot. This process operates several times a day.
6. New coins are now available for purchase and the cycle is complete.
This process guarantees that coins are repeatedly available for Quick-Buy and supports the projects at a high degree.
Example
You buy 10 StakeCube Coin for 0.00002000 BTC each via Quick-Buy. This will subtract a total of 0.00020000 BTC from your account and you get 10 SCC in return. Next the 0.00020000 BTC are sent to one of the supported exchanges. Our script places a buy order for 10 SCC at a price of 0.00001900 BTC each into the orderbook and contributes its share to price stability. As soon as an other investor/trader sells 10 SCC for this price, they will be sent back to Quick-Buy and can be bought there again without fees at market price.
You buy 10 StakeCube Coin for 0.00002000 BTC each via Quick-Buy. This will subtract a total of 0.00020000 BTC from your account and you get 10 SCC in return. Next the 0.00020000 BTC are sent to one of the supported exchanges. Our script places a buy order for 10 SCC at a price of 0.00001900 BTC each into the orderbook and contributes its share to price stability. As soon as an other investor/trader sells 10 SCC for this price, they will be sent back to Quick-Buy and can be bought there again without fees at market price.
What happens if a buy order is never filled?
Basically, it is not bad if buy orders are not filled, as this improves stability.
But for coins to be available in the Quick-Buy again, the orders have to be filled to send them back to the pot. If this doesn't happen over a longer period of time, StakeCube always has the possibility to adjust the orders manually, or even better: to expand the coin circulation by manually increasing the pot. This is observed individually and adapted to the demand of the respective coins.
Basically, it is not bad if buy orders are not filled, as this improves stability.
But for coins to be available in the Quick-Buy again, the orders have to be filled to send them back to the pot. If this doesn't happen over a longer period of time, StakeCube always has the possibility to adjust the orders manually, or even better: to expand the coin circulation by manually increasing the pot. This is observed individually and adapted to the demand of the respective coins.
Why is only crex24.com currently supported and not the in-house exchange?
In the future StakeCube will integrate a wide array of exchanges, of course also the StakeCube exchange. StakeCube want to build stable order books and liquidity on various exchanges, simply to establish scattered price stability. Another factor is that not all users have access to crex24.com (or other exchanges) for various reasons. Since there are no restrictions on StakeCube, StakeCube wants to create the gateways.
In the future StakeCube will integrate a wide array of exchanges, of course also the StakeCube exchange. StakeCube want to build stable order books and liquidity on various exchanges, simply to establish scattered price stability. Another factor is that not all users have access to crex24.com (or other exchanges) for various reasons. Since there are no restrictions on StakeCube, StakeCube wants to create the gateways.
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