How to use C-Patex for trading Dimecoin?
We put our best effort into covering all topics related to Dimecoin. Each section will cover a different category.
REMINDER: This documentation is always evolving. If you have not been here for a while, perhaps check again. Things may have been added or updated since your last visit!
Disclaimer: The potential exists to lose 100% of your investment. Cryptocurrency trading involves high risk, and is not suitable for all investors. Before deciding to trade cryptocurrencies, tokens, or any other digital asset you should carefully consider your investment objectives, level of experience, and risk appetite. This guide is not an offer or solicitation to buy or sell Dimecoin or any other cryptocurrencies. Please do your own research.
C-Patex has no affiliation with Dimecoin Network. Keeping Dimecoin (DIME) or any cryptocurrency on deposit with a third party in a custodial connection has inherent risks. These risks include security breaches and risk of loss. Participants should be aware of the dangers associated with third-party custodianship of their property for any reason.
1.1 Obtain Base Cryptocurrency for trading with Dimecoin
Make sure that you have already bought Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), USD Coin (USDC), Dogecoin (DOGE), Tether (USDT) or the base coin you will be trading against Dimecoin. On C-Patex, Dimecoin is available to trade against DOGE. BTC, USDC and LTC. This tutorial will utilize LTC for trading demonstration.
If you do not already have the coins you want to use to trade Dimecoin with, you may need to open an account at an exchange like Coinbase, if you do not already have one. On Coinbase, you can buy cryptocurrency with the fiat currency of your choice.
Note: When buying the cryptocurrency you are planning to use for trading with Dimecoin, it may be worth factoring in the total transaction fees of the coin you are sending from Coinbase to C-Patex. It might be more economical to buy a cryptocurrency with a lower transaction cost and convert it to the trading pair you intend to buy Dimecoin with on C-Patex. For example, transaction fees to send Litecoin (LTC) are cheaper than transaction fees to send Bitcoin (BTC).
For those eligible, C-Patex does offer direct fiat deposit through their partner Perfect Money. To read more about Perfect Money, follow this link.
2.0 C-Patex Registration
2.1 Open an Account
Getting started is simple. Go to the C-Patex homepage and click on SIGN UP. Enter your email address and choose a password. Always use a strong password!
2.2 Verify Email Address
Once you fill out the form, you will be sent an email. Click on the link in the email to verify your email address.
2.3 Secure Account
Next, go to MY PROFILE and finish your configuration. We recommend to setup PHONE and TWO-FACTOR verification.
To turn on two-factor authentication, go to MY PROFILE, then TWO-FACTOR AUTHENTICATION. To turn on two-factor authentication, go to MY PROFILE, then TWO-FACTOR AUTHENTICATION. Once enabled, use an authentication app, such as Google Authenticator, Microsoft Authenticator, Authy, or your favorite authenticator app to scan the QR code or manually enter the corresponding key.
Once scanned, enter the number that generates, and your account will be ready to use. Be sure to write down your 2FA codes in case you lose access to your authentication app.
3.0 How to Trade on C-Patex
3.1 Obtain Deposit Address
Once you have obtained the base crypto to trade against Dimecoin and have opened your account with C-Patex, you can send your crypto to C-Patex for trading. To do this, you will need to log in to your C-Patex account.
Now, click on BALANCES on the top bar menu. Then search for the coin you want to send.
We will use Litecoin as an example. Click on the ‘+’ Deposit icon. You will be directed to the deposit screen that looks like this:
3.2 Deposit Base Trading Currency
You will now be able to send Litecoin from your Coinbase account to your C-Patex address to start making trades. When making a withdrawal from Coinbase, scan the QR code from C-Patex when prompted, or copy and paste the generated address. Return to Coinbase, or the exchange you used to obtain the base cryptocurrency to trade against Dimecoin, and use the address you generated to withdraw your coins to C-Patex.
Note: Wallets and addresses can be confusing! Addresses are similar to an email address, you can share them with anyone, and they can send messages to you. To access your email account, you need a password. In crypto, these passwords would be your private keys. Never share your private keys with anyone! So, a receiving address you generate to send coins to is public (anyone can see them without fear of losing your coins). They are also unique, so make sure you are sending coins to the correct address. Sending coins to the wrong corresponding address may result in the loss of your crypto!
3.3 Buy Orders
3.3.1 Choose Trading Pair
From C-Patex’s home screen, click MARKETS. Navigate to the search bar (upper left corner) and enter the keyword DIME to locate the Dimecoin market you will be trading. The following examples will use LTC to buy and place orders for DIME. Select the DIME/LTC market from the search window.
To purchase DIME, you will have two options. You can set a limit order or perform a market buy. Setting a limit order, you will place the order and wait for someone to meet the price you ask. Conducting a market buy will execute your order immediately, filling someone else’s order.
3.3.2 Setting a Limit Buy Order
When setting Limit Orders, it is important to remember they get executed in a first-in, first-out manner. Essentially, your order gets placed at the back of the line. The orders in the queue before yours need to be executed first before your order gets filled.
Next, to set a limit order, enter the details of your purchase in the order box
This example will illustrate placing a buy order on the five (5) buy wall. Notice that there is already a buy order for 10,000 Dimecoin that exists before placing the order. This order will be placed behind the existing order, adding to the buy wall. You can manually fill in the fields on the buy-side (left portion of the order box) or click on the five (5) buy wall “buy price” to automatically fill in the fields. Then you can then manually adjust the amount you want to purchase. You will notice, once the order gets placed, the buy wall increases to 60,000 Dimecoin.
Placing a Buy Limit Order
3.3.3 Performing a Market Buy
When performing a Market Buy, it is important to remember the order will execute immediately based on the existing orders in the order book.
This example will illustrate performing a market buy order on the six (6) sell wall. Notice that there is already sell orders in the amount of 17,370,378.01702123 Dimecoin that exists before executing the order. You can manually fill in the fields on the buy-side (left portion of the order box) or click on the six (6) sell wall “sell price” to automatically fill in the fields. Then you can then manually adjust the amount you want to purchase. For this example, the purchase will be for 835,000 Dimecoin. You will notice, once the order gets executed, the sell wall decreases to 835,000 Dimecoin and the user balance increases by the same.
Performing a Market Buy
3.4 Sell Orders
Similar to buying Dimecoin, you will have two options to sell. You can set a limit order or you can sell at market price. Setting a limit order, you will place the order and wait for someone to meet the price you ask. Conversely, selling at market price will execute your order immediately, filling someone else’s order.
3.4.1 Setting a Limit Sell Order
Sell limit orders have similar principles to buy orders, noted above.
Next, to set a limit order, enter the details of your purchase in the order box. These orders will also be executed on a first-in, first-out basis.
Next, to set a limit order, enter the details of your sale in the order box.
This example will illustrate placing a sell order on the five (5) sell wall. Notice that there is already a sell order for 2,163,669.63 Dimecoin that exists before placing the order. This order will be placed behind the existing order, adding to the sell wall. You can manually fill in the fields on the sell-side (right portion of the order box) or click on the five (5) sell wall “sell price” to automatically fill in the fields. Then you can then manually adjust the amount you want to purchase. You will notice, once the order gets placed, the sell wall increases by 50,000 Dimecoin.
3.4.2 Performing a Market Sell
Similar to a market buy, a market sell will be executed immediately.
This example will illustrate performing a market sell order on the four (4) buy wall. Notice that there is already a buy order placed in the amount of 18715.00 Dimecoin that exists before executing the order. You can manually fill in the fields on the sell-side (right portion of the order box) or click on the four (4) buy wall “sell price” to automatically fill in the fields. Then you can then manually adjust the amount you want to purchase. For this example, the sale will be for 15,000 Dimecoin. You will notice, once the order gets placed, the buy wall decreases to 3,715 Dimecoin and the user’s Dimecoin balance decreases by the same.
3.5 Withdrawing Your Dimecoin
One of the most well-known sayings in the crypto industry is, “not your keys, not your crypto.” The meaning behind this phrase is simple; if you do not have control of your private keys, you are not in complete control of your coins. You can potentially lose all of y our coins on the exchange if the exchange gets hacked, closed down, or various other scenarios. It would be best to store your crypto in your wallet, where you control your private keys.
Dimecoin can be stored in any of it’s native wallets. The list of wallets can be found here:
To withdraw your coins, navigate to the BALANCES page from the top menu bar on C-Patex’s website. From there, use the search bar with the keyword DIME and click the WITHDRAW button. Follow the instructions on the form and fill in the appropriate fields.
Thats it! You can now successfully utilize the C-Patex exchange for trading Dimecoin.