decred.org/dcrdex@v1.0.5/docs/wiki/DEX-Trading-Account-Management.md (about)

     1  # Guide to Managing Your DEX Trading Account
     2  
     3  In this guide, we will discuss how you can manage your DEX Trading Account.
     4  
     5  Let's get started!
     6  
     7  ## Prerequisites
     8  
     9  This guide requires that you've followed the steps in the [Initial Setup
    10  Guide](https://github.com/decred/dcrdex/wiki/Client-Installation-and-Configuration#initial-setup)
    11  or you've already setup Bison Wallet. If not, please do before proceeding.
    12  
    13  ## Setting Up Your DEX Trading Account
    14  
    15  Before you can start buying and selling on Decred DEX, you'll need a DEX trading
    16  account.
    17  
    18  1. Go to the `Markets` Page.
    19  2. Find the `Create Account` button and click it.
    20  
    21      <img src="./images/create-account-market-page.png" width="300">
    22  
    23  3. The DEX host will show all offered markets, and a choice of assets with which
    24     you can lock in a bond to enable trading. Select the asset you wish to use.
    25  
    26     <img src="images/choose-bond-asset.png" width="400">
    27  
    28     **NOTE**: A dedicate wiki page describing time-locked fidelity bonds will be
    29     created, but in short, fidelity bonds are funds redeemable only by you, but
    30     in the future. Having a potential trader lock some amount of funds before
    31     placing orders is an anti-spam mechanism to combat disruptive behavior like
    32     backing out on swaps.
    33  
    34  4. If you already created the selected asset wallet, you'll **skip this step**.
    35     Choose the type of wallet to use. In this screenshot, we choose a native BTC
    36     wallet and click "Create!". The wallet will begin to synchronize with the
    37     asset's network.
    38  
    39     <img src="images/create-btc.png" width="360">
    40  
    41  5. The next form will show you synchronization progress, and give you the
    42     deposit address for your wallet and the minimum amount you should deposit to
    43     be able to create your first bond in the next step, which is required to
    44     place orders. After sending to your address, the transaction **must confirm**
    45     (i.e. be mined in a block) before the form will update your balance. This
    46     form will be skipped if the wallet is already funded and synchronized.
    47  
    48     <img src="images/sync-fund-btc.png" width="360">
    49  
    50     **IMPORTANT**: This is your own wallet, and you can send as much as you
    51     like to it since *only* the amount required for the bond will be spent in the
    52     next step. The remaining amount, minus a small reserve for future bond
    53     transactions, will be in your available balance. For example, you can send
    54     yourself 5 BTC and only the required amount (0.0014 BTC in the case pictured
    55     above) will be spent to create the bond in the next step, with an equivalent
    56     amount plus fees in reserves. The remainder goes to your available balance,
    57     which can then be traded, sent, or simply held in the wallet.
    58  
    59     You may disable future bonds at any time by changing the "Target Tier" to 0
    60     in the "Update Bond Options" form accessible from DEX host settings form
    61     accessible from the Settings view. This will return any reserves to the
    62     available balance. Any active bonds will automatically be refunded when their
    63     lock time expires (currently 2 months after creation).
    64  
    65     **NOTE**: The native Litecoin and Bitcoin Cash wallets connect to full nodes on
    66     the blockchain network that have "compact block filters" enabled. It may take
    67     time for the wallet to crawl the network until it finds such nodes. Be
    68     patient; otherwise you can bootstrap the process using a known seed node such
    69     as the Litecoin nodes on [this list](https://gist.github.com/chappjc/d0f26b12258f8531bb78b37f38d080a0).
    70  
    71  6. Once the wallet is synchronized and has at least enough to create your
    72     time-locked fidelity bond, the form will update, and you should click the
    73     button to create and broadcast your bond transaction.
    74  
    75     <img src="images/register-button.png" width="360">
    76  
    77     After proceeding, the available balance will be the amount you deposited
    78     in the previous step minus this bond amount and transaction fees.
    79  
    80  7. You will then be taken to the **Markets** page, where you must wait for
    81     confirmations on your bond transaction:
    82  
    83     <img src="images/wait-for-confs.png" width="360">
    84  
    85     While waiting, you may create additional wallets either directly from the
    86     displayed market or on the Wallets page accessible from the navigation bar at
    87     the top.
    88  
    89     After the transaction is confirmed, the application will submit the bond for
    90     validation and you will be ready to trade:
    91  
    92     <img src="images/bond-accepted.png" width="360">
    93  
    94     It is recommended to export bond information whenever they are created since
    95     they are not automatically restored from just the application seed,
    96     [Exporting your DEX Trading Account](#exporting-your-dex-trading-account)
    97     section will show you how to. If you restore from seed in the future: create
    98     the same wallets, add the same DEX host, and *then* import the bonds from
    99     this backup.
   100  
   101     That's it! Use the Buy/Sell form on the Markets page to begin placing
   102     orders. Go to the Wallets page to obtain addresses for your wallets so that
   103     you can send yourself funds to trade.
   104  
   105  ## Exporting your DEX Trading Account
   106  
   107  If you want to use your DEX trading account bond(s) on another device, you'll
   108  need to export it. Here's how you can do it:
   109  
   110  1. Go to the `Settings` Page.
   111  2. Click on the DEX account in the `Registered Dexes` list. In this example, it
   112     will be `dex.decred.org:7232 ⚙️`
   113  
   114      <img src="./images/dex-account-settings.png" width="360">
   115  
   116  3. On the DEX account settings view, click `Export Account`.
   117  4. Select the directory where you want to save the `.json` file. Make sure to
   118     keep your exported account file safe.
   119  
   120  ## Importing an existing DEX Trading Account
   121  
   122  If you have an existing DEX account that you want to use with a new setup,
   123  here's how you can do it:
   124  
   125  1. Go to the `Settings` Page.
   126  2. Click on `Import Account`.
   127  
   128      <img src="./images/dex-account-import.png" width="300">
   129  
   130  3. Choose the exported DEX account `.json` file by clicking on `load from file`.
   131  
   132      <img src="./images/import-dex-from-file.png" width="300">
   133  
   134  4. Click `Authorize Import`.
   135  
   136  Easy as that!
   137  
   138  ## Disabling a DEX Trading Account
   139  
   140  If you want to temporarily disable your DEX trading account, follow these steps:
   141  
   142  1. Visit the DEX account settings as in [Exporting your DEX Trading Account](#exporting-your-dex-trading-account)(**Step 1 and 2**).
   143  2. On the selected DEX account settings view, click on the `Disable Account`.
   144  3. Confirm the action with your app password.
   145  
   146  If successful, the DEX trading account **will not be listed until it is added again**.
   147  
   148  **Note**: Keep in mind that you can't disable your account if you have active
   149  orders or unspent bonds.
   150  
   151  ## Adding a DEX Trading Account
   152  
   153  To add a new DEX server:
   154  
   155  1. Go to the `Settings` page.
   156  2. Click on `Add a DEX`.
   157  
   158      <img src="./images/add-dex-account.png" width="300">
   159  
   160  3. Enter the address a known DEX server that you would like to use. and select
   161     the DEX server TLS file after clicking on `add a file`.
   162  
   163      <img src="images/add-dex.png" width="320">
   164  
   165     **NOTE**: If you just want to view the markets without being able to trade,
   166     check the "No account" box. You will have an opportunity to create an
   167     identity later, but if you are ready to trade [follow the remaining
   168     steps](#setting-up-your-dex-trading-account).
   169  
   170     If you had an account with the newly added DEX server, it'll be automatically
   171     discovered and enabled but you you'll need to create fidelity bonds to trade
   172     with your account.
   173  
   174  ## Managing your DEX Trading Account Tier
   175  
   176  To manage your DEX trading account tier, here's what you need to do:
   177  
   178  1. Visit the DEX account settings as in [Exporting your DEX Trading Account](#exporting-your-dex-trading-account)(**Step 1 and 2**).
   179  2. On the DEX account settings view, click `Update Bond Options`.
   180  3. Choose the asset for your fidelity bonds and set your `Target Tier`.
   181  4. Click `Submit` to update your bond options.
   182  
   183  **Note**: Make sure you have enough funds to cover your `Target Tier`.
   184  
   185  ## Wrapping Up
   186  
   187  That's it! You've learned how to manage your DEX Trading Account.
   188  
   189  While this guide covers the basics, there are more advanced topics like updating
   190  DEX hosts and TLS certificates. But for now, you're ready to dive into the
   191  exciting world of DEX trading!
   192  
   193  ## Glossary
   194  
   195  - **Fidelity Bonds**: These are locked funds redeemable by you in the future.
   196  They help prevent disruptive behavior in trades like backing out on swaps.
   197  - **Target Tier**: This is the target account tier you wish to maintain.
   198  Set to zero if you wish to disable tier maintenance (i.e do not post new bonds).