Want to trade tokens that aren’t yet listed on any exchanges? Well there are Trading Rooms on Telegram that can help you with that, I will be talking about how to use them.
Where to Trade on Telegram?
Here is a list of a few trading rooms available on Telegram. However, there will be more, just search in Telegram or ask around.
Group Token Sale
Some Telegram groups have their own tokens for sale. Trades like this are usually displayed within the Pinned Message, so be sure to check them out and reply to that message.
How to Trade on Telegram?
Set up Seedit
Message SeedItBot on Telegram and type /start, this will start the bot and set up your Seedit Wallet.
Next you will need to send TRX to the Seedit Wallet, this is for fees as well as the tokens you wish to buy. If you are selling a token send them also.
To make sending and receiving in Seedit easier, I recommend exporting your wallet into TronkLink or TronWalletMe. Click here to see a post on how to Import A Wallet.
Trade in Telegram
Trade with an existing Trade
Enter the Trading Room or Group you wish to do the trading in and find someone buying/selling the token you wish to trade. Trades are only active for 12 hours. You won’t be able to trade with a message older than 12 hours.
Reply /trade to the message with token you want and this will commence the trade. Seedit will ask you to confirm the trade before it proceeds.
Sometimes there is multiple trades in one message, for example:
#autosell 100000 Blood for 100 TRX
#autosell 100000 Friendster for 400 TRX
#autosell 1000 CryptoParadiseRewards for 250 TRX
#autosell 2000 BeatzCoin for 380 TRX
If you wanted to buy the CryptoParadiseRewards, you would reply to the message with /trade 3 as it is the 3rd trade down.
Some groups have their own token(s) for sale, usually as the pinned message. To trade with these reply to the message following the same rules.
Creating your own Trade
If you don’t see what you are looking for or want to set up a trade, you can do this by following below.
To buy a token, type “#autobuy quantity token name for quantity token name “
To sell a token, type “#autosell quantity token name for quantity token name “
For example: If you wanted to but 100,000 Blood for 100 TRX you would type “#autobuy 100000 Blood for 100 TRX”
You can trade your tokens for either TRX or another token if you wish.
You can also replace autobuy/autosell for buy/sell:
- #autobuy and #autosell will automatically trade those tokens at the price you set when someone replies with /trade
- #buy and #sell will ask you for a comfirmation from you before the trade proceeds
Most trading rooms allow upto 4 trades per message.