I just tested my first deposit of eth and wanted to trade some of it. When I go to my portfolio, I’ll see that I have ETH in my account. So I want to trade it. Its very convenient that there is a button ’ trade’ next to my asset!
However, when I click on trade and select the designated trading pair and fill in for what price and how much I want to buy, I get the error that I have insufficient funds.
Well, that’s weird, I just deposited some assets and clicked on trade!
After a few minutes, I realized I had to transmit the asset to my trading account. I know that because I know how nash works, but any other new trader on Nash will have no idea why he has no funds.
So, the recommendation is to get a notification when you click on trade, (while the asset is still in the personal account) that shows the procedure to transfer the asset to the trading account. Also in the exchange itself, show a small text like 'Did you transfer your asset to your trading account? Learn how!"
Yeah, it was also one of the goals of Nash; to act and look similar to a conventional cex, with the security and benefits of a dex. However, sometimes, it will be inevitable that some things are different, and then you really need to guide your users in my opinion.
Indeed, I think a short tutorial after the registration stage would be great. It would be few slides explaining the structure and functionality of the exchange in an ilustrated maner. I think I saw that on Kucoin.
but… nash is not the first exchange that follows this, I believe kucoin follows the same. If you look closely, if your wallet is nash’s personal account, then its just one extra transfer for trading and users control both wallets (I believe tools to withdraw from trading contract is not developed). I am not sure if its possible to simplify like on submitting an order move money automatically to trading contract…
its a while I used kucoin, i should try again and see the difference… in kucoin you don’t have key to the wallet and at nash only you have key to the personal account… regarding fees, may be its all virtual transfer in kucoin and there is no fees involved… but i am all for making the interface easy for new users unless Nash can convince what they have is superior than other options (even its for someone holding funds at wallet created through nash - again, only the user knows keys to wallet)
I know exactly what you mean and ran into a similar experience like you.
I posted a similar suggestion as well some time ago here. https://community.nash.io/t/trading-feedback-usability/7724?u=kwicks
Nash should be easy to use for everyone. The difference between personal account and trading contract is in my opinion one of the most important things to explain.
