Trading Redfishcoin on WAVES platform

in redfish •  2 years ago 

Recently I noticed on Steemit several posts about Redfishcoin. For me one of the indicators of potential successful project is the marketing and community which is behind it.
So it looked interesting and I claimed a bit of Redfishcoin (you need to have WAVES wallet for it) on Redfishcoin faucet

Then I decided to make trading of Redfishcoin to WAVES
I placed the order

You can see at the bottom of page "My Orders" - Closed
It was traded very fast.

Just to compare - I have tokens which I placed a week ago and put the recent price - and nobody buys them.

Then I understood that even though I got 0.00055 WAVES, I spent 0.003 WAVES for commission, so my balance decreased.

So it might seems that not only I lost Redfishcoin which I had, I also lost WAVES amount.
It might be so in a way. But it's not.
I made a test trading, and for this story I will get 1 Redfishcoin from this bounty campaign (or even more, may be somebody would send me some WAVES to make more trading)

You can also join this bounty campaign, I will also join it with Twitter and Facebook

My WAVES: 3P3NfPadaKW2tdXvxPuMRcVBu5NjS4Lz9qp


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TX ID: 4W8PG4kqdBCqY33Zog14LdXv4SXQhz5bY5CLzQefM92N | TYPE: Outgoing Transfer | DATE: 10/7/2017 17:58:00 | SENDER ADDRESS: 3PQeT7ayanjvH4Ab5nRvxvJQqiGuWQRv34F | TX AMOUNT: 1.00000000 Redfishcoin | RECIPIENT ADDRESS: 3P3NfPadaKW2tdXvxPuMRcVBu5NjS4Lz9qp | TX FEE: 0.001 Waves | ATTACHMENT: a5opDFVS

Using Redfish tag is a signal for me to upvote your post too and your future post unless redfish tag is used!


You paid 0.003 WAVES in fee to earn 0.00055 WAVES, so it costs you 0.00245 WAVES. You will not be able to place an order if your Waves balance is less than 0.003.
0.003 WAVES is about 300 satoshi.

Yes I know, but I have enough balance in WAVES

Yes, you had enough. So the order is valid and is opened immediately, even if the value of the trade is below the 0.003 fee. It's up to you to compute what you will earn or loose.
For every open order, 0.003 WAVES are reserved for it. If you have a balance of 0.007 WAVES and already 2 orders, you can't do a 3rd trade until you cancel an order or get more WAVES.

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