How to Trade
How to Trade
Trading on TORRSwap is very easy compared to most exchanges. You aren't going to be overwhelmed by charts or jargon, and calculations are all handled for you.
Getting set up to trade
Before you can trade, you will need a BTT Smart Chain-compatible wallet. You can learn how to get one here. You will also need to have some BRC-20 tokens to trade with.
Trading on the TORRSwap exchange
1) Go to the exchange page here.
2) Unlock your BTT Smart Chain-compatible wallet by clicking Unlock Wallet (you can also Connect in the top right-hand corner).
3) Choose the token you want to trade from the dropdown menu in the "From" section. The default setting is BTT.
Whichever token you choose, you will need to make sure you have some to trade with. Your balance is shown above the token dropdown menu.
4) Choose the token you want to trade for in the "To" section as above. Next, type an amount for your "To" currency by clicking inside the input box.
Your "From" currency amount will be estimated automatically. You can also type your "From" amount and have the "To" amount estimate automatically if you like.
6) A window with more details will appear. Check the details are correct.
When you are ready, click the Confirm Swap button. Your wallet will ask you to confirm the action.
7) Done! You can click “View on BTTScan” to see your transaction details on the explorer.
How come my transaction won't go through?
TORRSwap is a DeFi application such that it interacts with the wallet to complete on-chain transactions for swapping, creating LPs, staking in farms and pools, etc.
Gas Fees
As such, the first thing is to make sure you have enough BTT to pay for the gas fee of the on-chain transactions. Typically, gas fee fluctuates depending on the number of transactions in the queue, if there are more transactions, a higher gas fee may be required to push through the transaction. On BTTC, the gas fee typically ranges from cents to a dollar USD in BTT.
Swapping with Transaction Fees
Before you swap any tokens, make sure you have visited their website to understand if they have a transaction fee mechanism (or tax as many projects put it). If there is, make sure you set a slippage that is sufficient to accommodate the transaction fee -- e.g. if there is a transaction fee of 5%, your slippage will have to be set at at least 5% plus the normal trading slippage depending on your trading amount and the token's liquidity, say 5.5%-6%.
In some extreme cases including some scams, some tokens even have a block on most or all transfers on chain, or only allowing certain addresses to sell, in such case it is impossible to swap the token successfully. Do learn about the token you are trying to swap and be aware of any fees and restrictions!
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