Introducing Secure Trade V2
March 3, 2023
Users can now trade HTS fungible tokens, HBAR and NFTs instead of just NFTs for HBAR. Users will also be able to utilise this feature with any combination of the aforementioned assets.
Secure Trade was the first major feature we added to HashPack back in January 2022. It allowed for direct peer-to-peer trading and secondary sales of NFTs for both creators and collectors. We have listened to the feedback of our community and are excited to announce Secure Trade V2!
The peer-to-peer nature of Secure Trade makes asset exchange safer and more convenient for all users. Secure Trade also handles all of the royalties, fees and token association – meaning creators get fairly paid.
Secure Trade V2 tutorial
So how does it work? We’ve put together this simple video guide to help you get started with Secure Trade. Both parties will need HashPack in order to use Secure Trade. You can also read our comprehensive guide below.
Please note Secure Trade isn't available on our iOS app.
Using Secure Trade to send
On the main screen, click on the NFTs tab and then click on the Secure Trade button.
Click on the I want to send button.
Under the Send (You) section, select or search in the Select NFT to send and Select tokens to send dropdown menus for the items you want to send.
Under the Receive (Them) section, enter the receivers account in the Enter receiver address field. You can then choose the items you wish to receive from their account.
Once you’ve selected some tokens you’ll see some information including the Name, Token ID and any related Trade Fees. If you want to remove an item from your selection, press the X cross icon.
Once you’ve selected all the items you want to send and receive, press the Next button.
You will see a final confirmation of the tokens as well as the Transaction Details, Deductions and Fees in the tables above. HashPack charges a small fee of 10 HBAR (or 2% if the trade exceeds 500 HBAR) to use the Secure Trade feature.
Once you’re happy with the details, press the Confirm button.
Give the generated code to the receiver 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.
If the receiver doesn't have enough HBAR to cover the association costs for the trade, you'll be prompted to send the user some funds.
Congratulations! You’ve just sent your first Secure Trade with HashPack. Wait for the receiver to enter the code and confirm the transaction, all tokens and fees will be transferred automatically.
Using Secure Trade to receive
Once you’ve received the Secure Trade Code from the sender, click on the NFTs tab and then click on the Secure Trade button.
Click on the I am receiving button.
Enter the code you received from the sender, you can paste it into the Enter Secure Trade Code field or press the Scan QR Code button to use the camera on your device.
Please note entering the code will cost you a small network fee of 0.00152 HBAR to verify.
You'll then see a preview of the tokens in the trade 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.
Frequently asked questions
Why am I seeing an error about accounts unable to receive royalties?
In order to send fungible tokens and NFTs with royalties in the same trade, the treasury account for the NFTs must be able receive royalties of any fungible tokens in the trade. For example, if I want to send an NFT in exchange for some SAUCE tokens. The NFT treasury account must have the SAUCE token associated in order to receive royalties from the trade.
What are the fees for Secure Trade?
As well as Hedera network fees, HashPack charges a small fee of 10 HBAR (or 2% if the trade exceeds 500 HBAR) to use the Secure Trade feature.
What are the fees for tokens and NFTs?
Royalty fees are paid by the seller from the amount received. Fallback fees are paid by the receive if no fungible tokens are exchanged. NFTs with fallback fees must be using Secure Trade. Fixed fees are paid by the seller from the amount received.
How many items can I send and receive in a single trade?
You can send and receive up to a maximum of 10 different assets in a single trade.
My trade code has expired, what should I do?
The Secure Trade Code must be used within 30 minutes or it will expire. Please create a new trade and use the code within the allotted time.
If you have any further questions about Secure Trade V2, please contact us through the web chat below.