Xena Exchange is a centralized cryptocurrency exchange which allows its customers to trade different cryptocurrencies with one another. Xena Exchange is not a counterparty of any trade.
Currently, Xena only offers crypto-to-crypto trading, and we are actively working on obtaining licences that will allow us to offer crypto-to-fiat trading in the near future.
- All clients deposit their cryptocurrency to their Xena accounts. Short selling is not permitted, i.e. to sell 1 BTC a client must firstly deposit at least 1 BTC to its account
- Clients willing to buy or sell some currency in exchange for another currency place their orders to the exchange. Support of multiple order types makes Xena Exchange suitable for trading strategies of any complexity.
- If orders of two clients match each other (for instance, the first client was willing to buy BTC for USDT, at a price not higher than 6500; and the second was willing to sell BTC for USDT for at least 6500 USDT per BTC), a trade is booked. Clients exchange agreed upon quantities of cryptocurrencies.
- Matching on Xena Exchange has price-time priority. This means that an incoming buy (sell) order will first be matched with orders on the others side that have a lower (higher) price. If there are several orders with the same price, orders placed first will be matched first.
- Each trade is subject for the trading fees. There are no fees for orders which go unfilled or are canceled.
View of the order book in the web terminal:
The bottom part of the order book displays bids — orders of clients looking to make a purchase. The top part of the screen displays asks (offers) — orders of clients looking to sell. Cumulative volume shows how many base currency can be bought or sold at certain or better price.
Clients can send orders only for certain instruments (trading pairs). For instance, it's not possible to place an order to "buy BCH, pay in USDT". Limiting the number of trading pairs allows Xena to concentrate liquidity and make trading conditions better for all traders. As the trading volume grows, we will introduce new trading pairs and connect new cryptocurrencies.
How to send orders and make trades
Xena Exchange offers three ways to trade:
There are 3 different ways to execute trades on your account:
- Our powerful web based trading terminal with rich charting and custom trading signals is best suited for professional traders. Future upgrades include a desktop terminal with strategy tester, synthetic instruments and other features. User's manual for the terminal is located here
- Portfolio page is an extra-simple yet powerful way to see where market is going and execute your trades with one click. Learn more about using the Portfolio page here
- Market data, Trading and Transfer APIs help automate your trading strategies