How to use Secure Trade on HashPack
January 23, 2022
Secure Trade is a new feature on HashPack which allows for direct peer-to-peer trading and secondary sales of NFTs for both creators and collectors. Secure Trade also handles all of the royalties, fees and token association – meaning creators get fairly paid.
So how does it work? We’ve put together this simple guide to help both buyers and sellers use Secure Trade for the first time. Both parties will need HashPack in order to use Secure Trade, you can use either our Chrome extension or browser-based wallet.
If you’re new to HashPack, you might want to read our guide on how to create your first account with HashPack.
Using Secure Trade as a seller
On the main screen, click on the NFTs tab and then click on the Secure Trade button.
Click on the I want to send an NFT button.
Select or search in the Select NFT dropdown for the NFT you want to send, then press the Add to selection button. You can send a maximum of 8 NFTs in a single transaction.
Once you’ve selected an NFT you’ll see some information including the Name, Token ID and any related Trade Fees. If you want to remove an NFT from your selection, press the X cross icon in the top right corner of the Selected NFTs card.
Once you’ve selected all the NFTs you want to send, press the Next button.
Add the recipients Account ID in the Receiver field and the desired amount in the Price (HBAR) field.
You will see the Transaction Details, Deductions and Total Profits in the tables underneath. HashPack charges a small 2% fee to use the Secure Trade feature.
Once you’re happy with the details, press the Confirm button.
Give the generated code to the buyer to enter into their HashPack wallet. You can click the Copy Code to clipboard button, or take a screenshot and have the buyer scan the QR Code.
The Secure Trade Code must be used within 30 minutes or it will expire.
Congratulations! You’ve just sent your first Secure Trade with HashPack. Wait for the buyer to enter the code and confirm the transaction, all NFTs and fees will be transferred automatically.
Using Secure Trade as a buyer
Once you’ve received the Secure Trade Code from the seller, click on the NFTs tab and then click on the Secure Trade button.
Click on the I am receiving an NFT button.
Enter the code you received from the sender, you can paste it into the Paste trade code field or press the Scan QR button to use the camera on your device.
Please note entering the code will cost you a small network fee of 0.00002 HBAR to verify.
You will see a preview of the NFTs and the total cost of the transaction. Once you are happy with all the details press the Approve button.
Secure Trade handles token association automatically, if you see the Tokens not associated message, press the Yes button to continue.
Congratulations! You’ve just received your first Secure Trade with HashPack.