Listing and delisting of digital currency
Listing and delisting of digital currency Listing and delisting of digital currency

Listing and delisting of digital currency

Bitvavo lists new digital currencies in three steps: deposit/withdrawal, auction, and regular trading. These three steps are typically executed almost immediately after each other. Delisting is announced through Bitvavo's blog and Twitter. Trading stops on a specific date, open orders are cancelled, withdrawals are possible until another date, and deposits are refused. If possible, sold assets are liquidated and credited as EUR balance. 

Frequently Asked Questions

Where can I find a list of all your assets? 

You can find a complete list of all our markets and coins here: https://bitvavo.com/en/markets

When will a new asset be available on our platform?

We strive to thoroughly research all assets we add to our platform before listing them. If you would like to see one available on Bitvavo, email us at support@bitvavo.com. We will consider these currencies in our considerations regarding the listing of new digital currencies. Updates on, among other things, new digital currencies can be found on our blog, Twitter account, and Instagram.

How does listing/adding new digital assets work?

When we launch a new digital currency on our platform, it goes through these three phases: 

  1. Deposit & withdrawal capability. 
    Bitvavo opens deposit and withdrawal of the new digital currency. Users can then send the new digital currency to and from their Bitvavo account. During this phase, the markets are still inactive.
  2. Auction.
    After the possibility of deposit and withdrawal and before the regular trading option is active, the market is inactive. During an inactive market, users can place orders. These will be executed during the auction and before the transition to regular trading. The auction process is described at the bottom of the page.
  3. Regular trading. 
    After the auction, the market switches to regular trading mode. This trading mode uses a limit order book to execute limit and market orders.

How does delisting/removing digital currencies work?

When a digital currency is delisted, we post a blog and a message on our Twitter page (also readable without an account). So you'll always stay informed. Below is a brief summary of the general procedure:

  1. When an asset is delisted, we announce it on Twitter and on our Blog;
  2. On date X, trading in this asset is stopped;
  3. All open orders are cancelled if they have not been executed before this date;
  4. Withdrawals of the delisted asset are possible until date Y;
  5. Deposits are not credited to the account and may be lost. 

If you still own this asset after withdrawals are closed, please contact support@bitvavo.com. We will assist you further. If it is no longer possible to withdraw the assets, they will be liquidated if possible and credited as EUR balance to your account. 

What different statuses can a market have?

Market status: Halted

When markets are halted, users can:

  • Place new limit and market orders.
  • Cancel existing limit and market orders.

These orders are not executed during a halted market. These orders take place before the market transitions to regular trading mode. It is designed to determine a fair opening price.

Note: if the markets are halted, there are no updates in the order book.

Market status: Auction

When markets are in an auction, users cannot place orders or cancel existing orders. This process usually takes less than a second.

The opening price is the price at which a digital currency is traded when opening a new market. To determine the opening price, Bitvavo takes into account all placed orders. Then the opening price will be set at the point where the most units of the base currency lie. All placed orders that can be matched will be compared with the same opening price. At a more detailed level, the opening price is calculated with the following steps:

  1. Active limit orders are used to determine the price at which most units of the base currency are traded. If there is no price where transactions occur, all outstanding market orders are canceled and normal trading resumes.
  2. If a price is obtained in the previous step, this price is used to prevent 'self trades' according to the policy specified when the latest order was placed.
  3. The remaining active limit orders are used to obtain a (possibly new) price at which the most units of the base currency are traded. If there is no price where transactions occur, all outstanding market orders are canceled and normal trading resumes.
  4. Orders are compared based on price-time priority, and all orders are considered 'taker' orders. This means that the oldest market orders are filled first, at the price determined in the previous step. Once there are no more orders in the market, the limit order with the best price is filled first, at the price determined in the previous step. When no more orders are compared against the established price, all remaining market orders are canceled and normal trading resumes.

Market status: Trading

This is the normal trading mode, where users can place limit and market orders that are executed immediately.

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