Paying network gas for each transaction?

(Alex Forward) #1

If I ‘own my own assets’ does it mean the assets I buy go straight into my wallet ? And the assets I sell go straight out my wallet to the buyer ?
What about gas costs to send the tokens to the beneficiary ? Do I need to pay ethereum network tx cost everytime I want to sell an ERC20 token for example ?
And what if I place a sell order on the orderbook. Does the asset stay in my wallet until a buyer was matched ?

(CryptoUK1) #2

They will remain in your trading wallet until you decide to “withdraw”/move funds to your personal wallet.

Not on the trade itself as that’s done off chain but good question regarding tx cost for moving funds between personal account and trading account.

Orders will be done via trading wallet and the funds won’t be accessible until matched or cancelled

(EC) #3

Funds in exchange vault will be tradable, funds in your own wallet will not be tradable. As they have explained, depositing to the exchange vault is just opening a state channel with the exchange, so only you have control of the funds despite them being ‘on the exchange’. The only actions that incur fees are deposits and withdrawals of your trading balance from the exchange vault to a wallet. When you trade with a counterparty, the funds still remain in the exchange vault, so it will be the counterparty paying the withdrawal fees if they choose to withdraw the funds, not you.

(CryptoUK1) #4

Definitely a better explanation than my attempt - limited understanding and use of layman’s terms :smiley: