In a previous article I explained what are the different account options Spectre proposes to its users. Today you are going to learn how to use the regular account when trading on the digital options broker less platform

Add a regular wallet account to your user account

If you are reading this article, it means that you probably already have a binary option demo account. If not, you can create free of charge a non-binding account by clicking here. Once you are registered on a trial account, that you have played a bit with the platform and that you want to try it out with real money, simply go into your account settings. You reach by default the « Trading account » tab. Add an account and choose « Regular (Mainnet) » account type.

You now have to provide the ETH address associated with your Spectre regular account. It means that the ETH you send it to the smart contract MUST come from this Ethereum address, and that your withdrawals will be sent to that wallet.

Deposit on regular wallet

Once you have added the regular trading account type to your account youhave to deposit funds to start trading, of course. To do so, simply click on the down arrow next to your balance, at the left of the liquidity pool. Click on deposit. A pop up window will appear with the deposit address (Spectre smart contract address).

Spectre deposit

Here is what the pop up says:

Note: This is a live Mainnet contract address. ETH must be deposited to this address before you start trading. Only send ETH from the address that you have indicated while setting up your account. Do NOT send ETH from an exchange or any other address!

Transaction Requirements

  • Recommended Gas Price : 10 Gwei
  • Recommended Gas Limit : 40,000
  • Minimum Amount : 0.10 ETH

When using the above recommended Gas price and Gas Limit you should expect the transaction to go through within few minutes. The above values and indicated time may change depending on the load on the Ethereum blockchain.

Please note that you should check ethgasstation to define the right gas price. Usually 10 gwei is more than enough, but it really depends on the network congestion. For example, while I’m writing gas price standard is at 4 gwei, safe at 2. You can therefore set that gas price at 4, the transaction will be fast anyway. You should, however, strictly follow the gas limit of 40,000. If you use the default value of 21,000 your transaction will fail.

READ  How to set up your binary trading demo account with Spectre?

You can send your ETH from any application you use. It can be MEW, a hardware wallet, MetaMask, Parity or whatever, it does not matter. Once the transaction is validated on the blockchain your balance will be updated. Again, do not send funds from any other address, whether it is another wallet you own, from an exchange such as Binance, Coinbase, Kraken, etc. If you do so your balance won’t be updated since the smart contract cannot reconcile your account with that address.

You can now start trading digital options with real money on Spectre. Good luck!