Instant orders make it easy to convert bitcoin to gold without logging into Vaultoro.com every time.
You just set up a deposit address and start sending bitcoin to it. Vaultoro keeps an eye on the blockchain and as soon as the system notices any coins go into the address it will set up an instant buy order for the amount in that address and with the options that you previously set up.
NOTE: You can set up an altcoin address through the shapeshift button and that will also set up a link that vaultoro will keep an eye on and place an instant order.
Instant Orders comes with a range of options. The user settings will support four different features:
- Lowest Sell Price. This places an order for the amount deposited at any user deposit addresses at the current lowest sell price. If a user doesn’t buy too much, the order is pretty much guaranteed to be fulfilled.
- Highest Buy Price. This will place an order at the current highest buy price. This means a user’s order will have to wait for a seller to come down to match the user, and thus the user could miss out on fulfilling an order if the market moves higher.
- Middle of Spread. This will place an order right between the highest and lowest price. This makes sure the user’s order is placed above the highest buy price and also gives incentive for sellers come down in price a little.
- Market Order. This will ignore the price and just buy up everything starting with the cheapest gold available on the market. This method guarantees that the user’s order will get fulfilled.
Half Bitcoin Half Gold
In addition to these order options, there is also a new 50/50 feature. When 50/50 is turned on, the system will look out for any money coming into a user’s deposit addresses and only place an order for 50 % and leave the other 50 % as bitcoin. Such a feature could be useful for users who are only looking to modify their exposure in bitcoin, and not move it entirely too precious metals.
NOTE: If there is a deposit lower than 0.0002 bitcoin or 2000 bits then those bits will not place a buy order but will instead just be credited as bitcoin to the traders account.