Step-by-Step Guide for Hodlnaut’s Market Order Execution Feature

Cryptocurrency
First published
November 5, 2021
Last updated
November 16, 2021

Hodlnaut has recently announced its Market Order Execution feature that instantly fills the token swap order. This functionality is introduced to increase the success rate of token swaps amidst the volatile market. A market order is an order to buy or sell cryptocurrency at the market’s best price available. This basically ensures an execution but does not guarantee a certain price. It is best to opt for a market order when you wish to execute the trade immediately. In essence, you can go for a market order when you think that the crypto is priced right, when you want an immediate execution, or when you wish to fill your order. 

The market order execution will reduce the number of failed orders that currently some of our users are experiencing with Token Swap especially when the market is volatile. 

Note: The price shown on the interface (while placing an order with this feature) will initially be an estimate of the price being charged. The user will be able to get the actual price only after the order is placed and successfully executed. 

We have put together a guide to help you enable the market order execution feature with the following steps: 

Step 1: Login to Your Hodlnaut Account and Click on Token Swap

Login to your Hodlnaut account and click on the Token Swap tab from the top. It will open an interface as shown below where you can swap tokens effortlessly. 

Hodlnaut Account Login
Hodlnaut Token Swap

Step 2: Check the “Market Order” box

By default, the “Market Order” box will be unchecked to process token swaps as usual. If you wish to avail of the market order feature then you need to check “Market Order” while swapping tokens. 

Token Swap Market Order

Token Swap Market Order

Step 3: Choose the Tokens You Would like to Swap and Enter the Amount

Next up, you need to choose the tokens that you wish to swap. Select the respective tokens from the drop-down as shown below and enter the amount you wish to swap. 

Choose the Tokens

Step 4: Review the Quote and Place Your Order

Next up you can proceed to place the order for your requested token swap. Note that once the order is placed it will be filled automatically! 

PS: The prices shown in the quote are a rough estimate. The final swap rates may vary and you will only be able to see them after the swap is complete. 

Review the Quote
Order Complete

And that’s it! With these simple steps, you can benefit from the market order execution feature. The feature is designed to increase the success rate of token swap given the prevailing volatile market sentiments. 

We hope you enjoy the feature as much as we loved building it for you! 
If you face any issues while using this feature, please connect with us at support@hodlnaut.com and we will be more than happy to help!

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