How new user on the DAX can start to trade?
Hi,
When new use create account via one of the faucet he have no balance.
Then he transfer some BTC to openleager.
My questin is how can he start trade if he have no BTS to pay the trading fees?
Thanks
Hi,
When new use create account via one of the faucet he have no balance.
Then he transfer some BTC to openleager.
My questin is how can he start trade if he have no BTS to pay the trading fees?
Thanks
Each asset has something called a fee pool and a core exchange rate, as long as the pool has sufficient balance you may pay the fee in that asset and it will be converted "behind the scenes" into BTS at the price defined by the core exchange rate.
It's up to each owner of an asset to keep the pool balance sufficient, and to update the core exchange rate.
So in conclusion: you can pay fees with any asset.,not just BTS.
So it mean that the owner of the asset can set core exchange rate that reflect lower fee in BTS then the official one ?!
Yes, but he will most likely put higher core exchange rate in order to gain a profit in exchange for the service he is providing.
you will need some BTS
No, it is not mandatory, you can pay fees in other assets as long as their respective fee pool are not empty.
See: https://bitshares.org/technology/user-issued-assets/#fee-pools