ShapeShift 101: How to do “Precise” order on ShapeShift.io
Most of our ShapeShift users know how to do our basic “Quick” transactions, but get confused when using our “Precise” orders. In this post, we
- Define Precise Transactions
- Provide step-by-step instructions on how to successfully complete a Precise Transaction.
Let’s begin with a simple definition:
Precise transactions (also known as specific amount orders) refer to a transaction where the user tells ShapeShift how much they are wanting to deposit BEFORE we provide you with a deposit address. Precise transactions allow you to get a better rate AND a higher deposit max.
We tell you how much of the receiving coin you would receive with that amount deposited and then supply you with an address to deposit that precise amount you specified to us you would like to deposit.
So how do you do a “Precise” order? Here is your step-by-step guide!
First, choose “Precise” and then “Continue” from the home screen:
Next (as seen in this example) input the amount of bitcoin that you would like to deposit in order to receive dogecoin, keeping in mind the deposit minimum and max. You will see the amount of dogecoin that you will receive with that amount of bitcoin deposited.
Then, input the address that you would like to receive your dogecoin to as well as a return address (in case your order fails, this is how your funds are auto-returned to you). Check the box to agree to the Terms, and click Start Transaction.
You will then be brought to the deposit address page where you will see:
- the amount you must send (in this case, the BTC you specified), in order to recieve the amount of Ether you are wanting.
- The deposit address that you must send your bitcoin to.
- NOTE: you must send these funds to our deposit address within 10 minutes or your order will fail.
Finally, we will send your Bitcoin to the deposit address provided and wait as your order goes from “Awaiting Deposit” to “Awaiting Exchange” and then “All Done!” Your Complete Order page will look like this:
You can then see we give you the option to look at you order on the blockchain, send yourself an email receipt and more! Happy Exchanging!
Posted by Emily