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Create a Trade

Understanding a Trade versus a Proposal​

It's essential to differentiate between a trade and a proposal on Nefster:

  • Creating a Trade: When you create a trade, you're committing to a transaction that writes data to the blockchain. This action incurs a small gas fee due to the computational work involved in recording the transaction. Once the trade is executed, its details are immutable and can be verified not only on Nefster but also with a blockchain explorer, ensuring transparency and trustworthiness.

  • Creating a Proposal: A proposal is a communicating of interest to trade. Crucially, the acceptance of a proposal by a counterparty doesn't execute the trade - it only notifies you that they are on board with the proposed trade, and you can now create the actual trade for them to finalize. Also, creating a proposal doesn't involve writing to the blockchain, and therefore doesn't incur any gas fees. Basically, a proposal is a way to express interest in a potential trade without immediately committing to it.

Always be aware of the distinction to manage your trades and costs effectively.

How do I initiate a trade?​

There are 2 ways to initiate a trade in Nefster: using NFT Swap in the Terminal, or using the Swap function from the left menu bar. Either way you get there, the process is essentially the same. Make sure you are signed in to your wallet, and follow these steps:

  1. Add the NFTs and/or crypto you will include in the trade.
  2. Specify the NFTs and/or crypto you expect from the counterparty. If using NFT Swap in the Terminal, the counterparty will be the user selected in Direct Messages. If using the Swap function from the left menu bar, you'll need to enter the wallet address of the counterparty.
  3. Click on the CREATE SWAP button to initiate the trade.

First-Time Trading a Collection?​

If you're trading a particular collection on Nefster for the first time, be prepared for multiple prompts from your wallet:

  • Approval: Your wallet will first ask for approval to access the NFT collection(s) being traded.

  • Transaction Completion: After granting approval, you'll be prompted to finalize the transaction.

If you've previously approved a collection, the process is simpler - you'll only receive a prompt to complete the transaction.