| Permalink: |
Exchanger
WM Exchanger service is designed for automatic peer to peer exchanges of various WebMoney Currencies between registered WebMoney Users.
Currency exchanges between customers are performed without any extra fees under the conditions agreed on when an offer is listed.
Important! This is a peer to peer exchange platform where bids for exchange, published by registered users, meet. WebMoney itself doesn’t participate nor guarantees any exchange rates.
The section allows to perform mutual exchange of WMZ, WME, WMX, WMB, WMG, WMX, WMH, WML, WMK, WMY, WMV between purses of WebMoney Transfer members.
Each participant performing transactions in this section can exchange only within WM purses of his/her WM identifier. For example, upon paying a certain amount for WMZ -> WME exchange from WMZ purse, after the exchange you will be able to get WME amount specified in the application only to the purse of the WM identifier, from which you paid WMZ.
Currency exchanges between customers are performed without any extra fees under the conditions agreed on when an offer is listed. Standard (WebMoney Transfer fee of 0.8% but not more than 50 is charged in accordance with the established procedure).
Exchange methods¶
Exchange of WM title units in WM Exchanger section is performed by submitting applications that are paid for by direct transfer of funds to the section purses using Merchant WebMoney Transfer service. New paid applications are available for all users and are placed in the Current list of WM exchange section. To complete the exchange transaction, it is necessary to submit a counter application against a new application and pay for it. After that, the exchange is performed, and the funds corresponding to the transaction amount are transferred from the service purses to the transaction participants.
Thus, each section user can exchange WM using either of the two methods:
1 Buying one or multiple current exchange applications, i.e., submitting counter applications against them.
2 Submitting your own new application and waiting for it to be redeemed by one or multiple section users.
Submitting a counter application¶
To submit a counter application, it is necessary to choose the exchange direction at the Current list of WM exchange page. After that, click the line with the selected new application, and in the displayed "Submitting the counter application for WM exchange" form, enter the exchange amount and the number of the purse, to which funds are added after the exchange transaction is completed.
The exchange amount is entered by the user in one of the following fields:
- the amount to be exchanged;
- the amount to be exchanged including WebMoney Transfer fee (0.8%);
- the amount to be received as a result of exchange.
After entering the amount in any of the fields, the values of two other fields are calculated automatically.
If the exchange amount does not exceed the amount of a new application, and the valid value is entered in the purse number field, clicking "Pay the Application" moves the user to the direct payment page of Merchant WebMoney Transfer service. If the payment is rejected, the counter application is not registered and the transaction is cancelled. After the payment is effected, the exchange is performed virtually instantaneously. Altering or deleting the paid counter application is impossible.
Submitting a new application¶
At Submitting a new application for WM exchange page, a user can register his/her title units exchange offer that must include:
- the exchange direction;
- the amount to be exchanged;
- the amount to be received;
- number of WM purse, to which funds will be added after the exchange transaction is completed;
- the e-mail, to which notifications about the application redemption results will be sent (you may choose not to specify the e-mail).
Direct and reverse exchange rates are calculated automatically. If these values considerably differ for the worse from the average exchange rate of the section, the service disables the possibility to pay for such application. Otherwise, clicking "Pay the Application" moves the user to the direct payment page of Merchant service. The paid application is automatically included in the general list of the current WM exchange. If, for some reasons, the application hasn’t been paid for, this application cannot be paid for already, and the exchange offer must be generated again.
Control over exchange transactions¶
A list of all new user applications is provided at the List of my new applications page. Here every member can trace the current exchange progress at any moment; find out, which part of the current applications has been redeemed; and view the history of all his/her exchange transactions.
By default, the list shows only current applications being exchanged the moment they are viewed. If necessary, you can choose between another three display options:
- show all applications;
- show only unpaid applications;
- show only redeemed applications.
Left-click the selected application line to go to the details page that contains a list of all exchange transactions performed against this application, and a set of application management functions. A user can:
- change the application exchange rate;
- convert this application into a counter application for the most profitable reverse exchange offer;
- merge this application with another application of the same user;
- delete the application.
Changing the application exchange rate¶
To change the exchange rate, go to the details page, select the exchange rate type (direct or reverse one) for a new application, specify the value and click "Change the application exchange rate".
When the exchange rate is changed, only the amount to be received in the course of exchange is changed, while the application remains paid, and is not excluded from the list of exchange applications. No funds are returned for this application from the section, while all counter applications are exchanged in accordance with the modified exchange rate after the exchange rate has been changed.
Please note that the exchange amount precision does not exceed two places right after the decimal point, and in some cases, when the exchange rate is slightly changed (on the third or fourth place right after the decimal point) it doesn’t result in changing the application parameters.
To avoid errors while specifying a new exchange rate, the service blocks changing the exchange rate for the value exceeding 20% of its original value.
Converting a new application into the counter application¶
You can redeem any of the current new applications by yourself. To do that, you have to convert it into a counter application to one or multiple reverse exchange offers. The most profitable of these offers is always displayed at the details page and is updated each time the page is refreshed.
To perform the exchange based on this application, all you have to do is to click "Buy this Application". Upon the transaction confirmation, the exchange is performed. If the exchange amount is less than the amount of a user application, the user will be provided an opportunity to buy the following offer from the reverse exchange list. Thus, you can completely redeem your new application by purchasing multiple applications in succession. This algorithm is quite convenient if you need to quickly exchange a large amount.
Merging multiple applications¶
If a user has multiple current new exchange applications, the user can merge these applications. To do that, go to the details page of the application, which other applications will be added to, select a number of the application to be attached, and click "Merge the entered application with the opened application". After the transaction is confirmed, all funds of the entered application are moved to the opened application, and the attached application is deleted. The exchange rate of the opened application is not changed, but the exchange amount is increased accordingly.
You can only merge the applications belonging to one and the same WM identifier and having the same exchange direction.
Deleting the application¶
To delete the current new application, click "Delete" at the details page, and confirm that you want to perform this operation. After that, the funds that were to have been exchanged are returned to the purse, from which the application has been paid for. The WebMoney Transfer fee (0.8%) paid for submitting the application is not returned.
FAQ¶
I have 100 WMZ. I need to get WME ASAP. What is the best and fastest way to exchange them?
If the speed is more important that profitability for you, you can do the following.
- Make sure that you have at least 100.8 WMZ in your Z purse.
- Open the Current list of WM exchange.
- Select "Need WME instead of WMZ" exchange direction.
- Left-click the first application in the list.
- Enter "100" value in "How many WMZ do you have" field, and your E purse number in "E purse to receive WME to" field in "Submitting the counter application to exchange WM" window.
- Click "Pay for the Application" and effect the direct payment via Merchant WebMoney Transfer.
- Go to Keeper window and press F5.
How can I exchange 100 WMZ to WME at the most profitable exchange rate?
- Make sure that you have at least 100.8 WMZ in your Z purse.
- Open the Current list of WM exchange window and select "Need WMZ instead of WME" exchange direction.
- Determine, on which line of the list you would like to see your application, and calculate the amount of WME you can receive based on the reverse exchange rate.
- Open Submitting a new WM exchange application window.
- Select "WMZ -> WME" exchange direction.
- Enter "100" value in "How many WMZ do you have" field.
- Enter the calculated exchange amount in "How many WME do you need" field, and your E purse number in "E purse to receive WME to" field.
- Click "Pay for the Application" and effect the direct payment via Merchant WebMoney Transfer.
- Trace the position of your application in the exchange list changing the exchange rate, if necessary.
I need to exchange a large amount of WMZ to WME. I am pressed for time, and the amount to be exchanged per all applications in the list does not exceed 20 – 50 WMZ. What shall I do?
You have to purchase multiple applications. The list of current exchange contains "Total WM" column. Find the table row, in which this column value exceeds the amount you need to exchange. If these are 3 – 5 applications, you can purchase them successively. If you have to purchase 7 – 10 applications, it is expedient to make the following steps.
- Submit and pay your new application in WMZ -> WME exchange direction at the over-appreciated exchange rate.
- Open a new application, and click "Buy this Application (converting your new application into the counter application for the selected one)" under the table with the most profitable application from the reverse exchange list.
- Repeat the previous operation several times until your application is completely redeemed.
When changing the exchange rate of my new application an error is returned saying that the exchange rate has been changed for more than 20% and no changes are applied, though I am sure I have entered the right exchange rate. What shall I do?
Most probably you’ve made a mistake choosing the exchange rate type (direct or reverse one).
Yesterday I submitted a new application at the best exchange rate for buyers, but no one has paid for it yet. What’s wrong?
Please check the position of your application in the exchange list, most probably other users have “moved it away” from the first positions. Change the exchange rate.
I’ve created and paid for a new application, but it’s not included in the current exchange list.
Make sure that your application status is "Paid, exchange is process". Compare your application exchange rate with the exchange rate of the last application in the exchange list ; this page displays only the first 50 applications.