Price steps are increments or decrements in the peso value that can be set when placing Limit or FAK orders.
Will this restrict your trading strategy? Not at all!
While this change might need some getting used to, the impact is insignificant at most.
|CRYPTOCURRENCY PAIR||MINIMUM QTY.||QTY. STEP||PRICE STEP||MAXIMUM QTY.|
|*Available exclusively on the PDAX Mobile App|
*Updated as of May 2022 and subject to change without prior notice.
For example, you want to create a limit order for Ethereum (ETH). And the current value is P200,000.
Because the price step for ETH only allows you to add or subtract P1 from your desired price, you can input a buy order at P199,999.00, but not at P199,999.50. You can also sell ETH at the price of P200,001.00, but not at P201,000.50
Rule: You can only increase or decrease the peso value of the BTC you’re trading by 10s.
BTC = P2,600,000.00*
Price Step = P10.00
P2,600,010.00; P2,600,020.00; P2,600,080.00; P2,600,090.00
Invalid Price Step:
To put it simply:
You can’t use decimals when buying or selling ETH, unlike with coins such as XRP, USDT, or USDC.
How do price steps relate to quantity steps?
As a general rule, quantity steps represent the number of decimal places you can use to specify the Total Quantity of crypto you want to trade. In contrast, you can only increase or decrease the Limit Price of your order according to the price steps.
Quantity Steps affect only the number of the crypto you want to trade, while Price Steps impact the peso value.