Capitalization:
$289 800 666 398
Daily amount (24 h):
$53 145 993 542
$9315.35
1.97%
$272.47
0.18%
$133.62
-2.21%

Trading Essentials

Get Started

Please read carefully trading Rules and Requirements before placing a Sell or Buy advertisement on the LetKnow Bulletin Board.

Advertisement Rules and Requirements

  • Please make sure your personal data is verified before placing a trade advertisement.
  • Get familiar with commissions and fees prior placing a trade advertisement.
  • Make sure the terms of trade of your advertisement are clear and correct. Once the advertisement is accepted by the counter party, there is no option to change the terms of trade you have published.
  • Please note, that you, as a LetKnow user, are authorized to place trade advertisements on your personal account only.
  • Brokerage services are strongly prohibited and considered a breach of the Contract, which may lead to your user account being suspended or terminated.
  • Your LetKnow user account personal information must match your own official and legal identification documents.
  • Please make sure you indicate correct and legit payment terms either in the advertisement trade terms or in the public chat. All trade communication must be accessible for LetKnow personnel for security and dispute resolution purposes.
  • Trade communication must take place at the LetKnow public chat.
  • Carefully study all payment methods. Please take all the suggested precautions while using High Risk payment methods.

Trading flow

Deal

  • The Seller creates and publishes a Sell advertisement on the LetKnow Bulletin Board
  • LetKnow reserves Bitcoins in the Escrow (in the Sell add volume). | The corresponding amount is blocked on the Seller's LetKnow Deal Wallet balance.
  • The potential Buyer searches the LetKnow Bulletin Board and creates a Buy Proposal to the Sell ad

  • Proposal


  • The Seller accepts/rejects the Proposal

  • Accept


    Reject


  • The Buyer receives the confirmation notification, makes and confirms the transfer

  • Paidbutton


  • The Seller confirms the deal

  • Confirm


  • LetKnow releases the Bitcoins from the Escrow to the Buyer's cryptocurrency wallet.

Once the deal is closed, there is no way to dispute the transaction.

Creating Trade Advertisements

Click Create Ad to create a new Buy/Sell advertisement.

Topmenu

Fill in the ad form:

  • Select Sell/Buy in the I want to drop-down list.
  • Select the cryptocurrency you want to trade and enter the trade deal amount.
  • Must be greater than zero.
  • In the you will pay text box will be displayed the deal amount with the LetKnow commission added.
  • Pick a Deal Type.
  • Pick your location from the drop-down list.
  • Pick the deal price currency. This is the currency type you will get paid with.
  • Select the Pricing type
  • Choose the payment method form the drop-down list. Available options are based on your LetKnow user account settings.
  • Enter payment details to be displayed on the advertising board.
  • Specify your terms of trade in a free form.
  • Hit Publish announcement to submit your ad.

Publish

Please note, that if you create a Buy ad, it will be displayed n the Board in the Sell tab.If you create a Sell ad, it will be displayed on the Board in the Buy tab.

Trade Deal Type

Online Deal Type signifies, that the trade deal will be carried out in a form of online transaction.

The Buyer transfers the money using any of the online payment methods.

Pricing Type

There are a few options to set the deal pricing:

Exact Pricing

If you choose Exact pricing type, enter the exact trade deal amount.

Exact

Margin Pricing

If you choose Margin pricing type, enter the percentage margin you want to charge on top of the cryptocurrency market exchange rate.

Margin

Example:

BTC average market price is 6668.08 USD/BTC

You set the Margin pricing at 10 %

The predictable 1 BTC deal price will be 7334.89 USD

Expression Pricing

This pricing type is highly relevant for high-volume traders.Price expressions allow to have more control over how your deal price will be calculated.You can preset an expression to automatically set your deal price based on the market deviations.

Pricing expression includes price source and operator.

Price Source

Price source is a foundation for your deal price.We can fetch a particular cryptocurrency market price from different reliable sources (trade platforms, exchanges etc.)We provide you a price source in a form of a variable: okcoinethusd - the Ethereum/USD exchange rate is taken from OKCoin Exchange Platform.You can calculate your deal price based on several sources: (source1, source2).Click Information to get a list of available sources.

Info

Price source must be specified by a Price Type.The equation is as follows: price source_price type (okcoinethusd_avg)

  • high - the highest price for the last 24 hours
  • low - the lowest price for the last 24 hours
  • bid - the highest buy price
  • ask - the lowest sell price
  • close - last deal price
  • avg - the average price for the last 24 hours (recommended)

the price is always calculated for 1BTC.

Operator

The price source is just the reference price. If you want to trade with interest, you would want to charge your margin on top of the reference price.Operator allows to perform mathematical operations with price source variables.

Operator

Conversions

You may wish to convert the price to a different currency.In this case you may use an additional exchange rate variable.Example to convert US Dollars to Bitcoins: (cexioethusd_avg)*1,2*USD_in_BTC

Click Information to get a list of available pricing and exchange rate sources and Calculate to calculate your deal estimate price.

Info2

Terms of Trade

Terms of Trade is a text box where you communicate all the relevant information to the counterparty in a free form.You may request a specific proof of payment, identification document, payment credentials, contact information or other important information.The information you pass in the Terms of Tarde is very important, because it communicates the counterparty your trade terms.In case the deal leads to a dispute, this information will be taken into account to assess the case.

How To Buy

Registered users have access to the Bulletin Board with Buy/Sell trade advertisements.

To buy a cryptocurrency, you need to be registered at LetKnow Bulletin Board and have the required balance available on your Deal Wallet.Once the deal is settled, the trade amount will be transferred automatically to your Deal Wallet.

  • Go to the Board Buy tab

  • Topmenu


  • Use filter options to configure the search parameters. Use Local deal type to find trade advertisements in your location.

  • Buyfilter


  • Click on username to preview the advertiser user profile.

  • Verified


    Security TIP: make sure you deal with users who have verified their contact information


  • Click the trade ad to preview the trade advertisement information.
  • Study the trade advertisement terms and make sure you can meet them before proceeding.
  • Click Buy to send a Seller your Proposal

Buybutton

Trade Proposal

  • In your trade deal proposal, you can either accept the original trade terms or make your counter offer.

  • Proposalform


  • Click Send proposal to send your offer to the counter party.

  • Send


  • In case your proposal is accepted by the counter party you will receive a notification like this.

  • Proposalnotice


  • Go to the Deals tab in your Dashboard to preview all deals (finished and pending) on your account

  • Dashboarddeal


    Your unsettled deal has Pending status. The Deal status changes to Finished once you settle the deal.


  • Go to Proposals tab in your Dashboard to preview all your proposals. A proposal may have status Accepted or Rejected.

  • Accepted


    Rejected


Deal Settlement

Please make sure you are ready to make a transfer before closing your deal.

There are two trade deal settlement options available to the Buyer:

  • Make a payment and settle the deal
  • File a Complaint against the counterparty

Making Transfer

There are two trade deal settlement options available to the Buyer:

  • Be ready to make a payment right after sending your proposal. Delay in payment may be the reason for the Seller to file a Complaint.
  • Make sure you understand all the payment terms and ready to meet them.
  • Carry out all your trade communication within the LetKnow ecosystem. This way we can get access to it in case of a Complaint or any other issues.
  • Stay in touch all the way until the deal is settled. Otherwise, the counterparty may file a Complaint and the deal may be settled not in your favor.
  • Prepare all the necessary proof of payment in case it is requested by the Seller.
  • Once you have made a payment go to your Deal under Deals tab in the Dashboard and click I paid to notify the Seller.

  • Paidbutton


  • Once the Seller accepts the payment, the trade deal amount will be released by the LetKnow Escrow to your Deal Wallet.

  • Balancenotice


  • Go to the Deals tab in your Dashboard to see how the deal status has changed to Finished.

  • Proposalnotice


As a Buyer you are protected throughout the trade deal by the LetKnow Escrow service. The trade amount is blocked on the Seller's wallet until the Seller gets the proof of payment.

Filling a Complaint

After the trade proposal has been accepted by the counter party, the Buyer may initiate a Complaint in case the Seller does not meet the trade terms or fails to communicate.

  • To file a Complaint click Complain in the Deal cabinet.

  • Complain


  • Having filed a Complaint, you will receive a notification like this:

  • Complaintnotice


  • You will get redirected to the Complaint chat, where you can negotiate your issue with the counterparty.
  • LetKnow personnel will join your negotiations to resolve the issue.
  • Meanwhile, the Deal has status Complaint pending. Go to the Deal cabinet to check for status update or access the Complaint chat room

  • Compliantpending


It is not possible to file a Complaint after the Seller has released the funds.

How To Sell

Registered users have access to the Bulletin Board with Buy/Sell trade advertisements.

To sell a cryptocurrency, you need to be registered at LetKnow Bulletin Board and have the positive cryptocurrency balance available on your Deal Wallet.Once the deal is settled, the trade amount will be transferred automatically to your Deal Wallet.

  • Go to the Board Sell tab

  • Topmenu


  • Use filter options to configure the search parameters. Use Local deal type to find trade advertisements in your location.

  • Sellfilter


  • Click on username to preview the advertiser user profile.

  • Verified


    Security TIP: make sure you deal with users who have verified their contact information


  • Click the trade ad to preview the trade advertisement information.
  • Study the trade advertisement terms and make sure you can meet them before proceeding.
  • Click Sell to send a Seller your Proposal

Sellbutton

Trade Proposal

  • In your trade deal proposal, you can either accept the original trade terms or make your counter offer.

  • Proposalformsell


  • Click Send proposal to send your offer to the counterparty.

  • Send


  • In case your proposal is accepted by the counter party you will receive a notification like this.

  • Proposalnotice


  • Go to the Deals tab in your Dashboard to preview all deals (finished and pending) on your account

  • Dashboarddeal


    Your unsettled deal has Pending status. The Deal status changes to Finished once you settle the deal.


  • Go to Proposals tab in your Dashboard to preview all your proposals. A proposal may have status Accepted or Rejected.

  • Accepted


    Rejected


Deal Settlement

Once you have confirmed the Buyer's trade proposal, the Buyer receives a notification to make a payment.

Never confirm a deal unless you see the money on your balance. Once the deal is confirmed you cannot reverse the transaction nor file a complaint.

There are two options to settle a deal:

  • Make a payment and settle the deal
  • File a Complaint against the counterparty

Confirming a deal

In case you see the agreed deal amount on your balance and you have to further questions to the Buyer, you may Confirm the deal.Go to the Deals tab in the Dashboard, select your Deal and click Confirm.

Confirm

  • Once you have made a payment go to your Deal under Deals tab in the Dashboard and click I paid to notify the Seller.

  • Finished


  • Once the Seller accepts the payment, the trade deal amount will be released by the LetKnow Escrow to your Deal Wallet.

  • Proposalnotice


  • Go to the Deals tab in your Dashboard to see how the deal status has changed to Finished.

  • Sellnotice


In this case the Buyer pays the commission.

Filling a Complaint

After the trade proposal has been accepted by the counter party, the Buyer may initiate a Complaint in case the Seller does not meet the trade terms or fails to communicate.

  • To file a Complaint click Complain in the Deal cabinet.

  • Complain


  • Having filed a Complaint, you will receive a notification like this:

  • Complaintnotice


  • You will get redirected to the Complaint chat, where you can negotiate your issue with the counterparty.
  • LetKnow personnel will join your negotiations to resolve the issue.
  • Meanwhile, the Deal has status Complaint pending. Go to the Deal cabinet to check for status update or access the Complaint chat room

  • Compliantpending


It is not possible to file a Complaint after the Seller has released the funds.