To participate in an offer as a buyer, you would first need to install our WH Cypher browser extension, you can learn more about WH Cypher here.
Once you have installed WH Cypher, you can navigate to our marketplace where you will find plenty of listed offers for you to choose from, as shown below:
Once you have selected the offer you want, you will be redirected to the offer view page, as shown here:
On this page, you will be able to view the details provided for this offer, such as the starting price, buyout percentage of gain/loss, the minimum and maximum buying limits for each buyer, currencies the seller is willing to exchange for.
What is a forensic rate?
The forensic rate is the rate that determines the purity of a coin, with 100% being a freshly mined coin, while lesser ranges approximately show how often was the coin involved in trades or mixers since its birth.
Once you have satisfied all the required options and clicked the "Proceed" button, you are then asked to provide your receiving address. This is where you will be receiving your exchanged funds.
Learn more about receiving addresses here.
To confirm the insertion of the receiving address, the WH Cypher extension then asks you to sign and verify the process.
4. Once your receiving address is confirmed by WH Cypher, You will then be asked to generate a Threshold signature (TS) wallet or select from existing ones.
Threshold signature (TS) wallets
A threshold signature wallet is a tool that is used to ensure that a trade process is conducted in an appropriate manner. This means that once a user is ready to trade on our platform, they top-up their account on WhalesHeaven and this top-up is then sent directly to the threshold signature vault that ensures no one, including us, has any access to these funds. Once the user finds a buyer on our platform, the buyer will be asked to provide their funds in another threshold signature vault under the same terms. Only once both the buyer and seller confirm and sign the release of these funds from the WH cypher extension will the transaction go through. This confirmation has to happen within a 1-hour time frame after a buyer is found, otherwise, the transaction will be considered unsuccessful. Learn more about the time limit here.
This is where you can select your preferred payment method. However, If you can’t find the payment option you are looking for, you can simply perform the top-up manually by copying the address shown as an example on the page below and sending the amount specified on the top-up page from your private wallet.
After you have topped up your TS vault, a message confirming that it has been sent to the blockchain will pop up. We will begin scanning the blockchain to verify that the correct amount has been sent.
Once our platform sees your transaction on the blockchain, we will notify you that your payment is on its way to your vault that you have created earlier within WhalesHeaven.
Once your funds have arrived at your threshold signature (TS) vault, you will receive a notification from the WH Cypher extension asking you to join as a co-signer and approve your spending. The seller will not have access to these funds until they too have confirmed the release from their side.
Learn more about our deal protection here.
Once your release is confirmed, a similar page will appear, as shown below:
Once you're on this page, this means that your process has been successful and the seller will be notified to approve the release of their funds from their side. Once this is done, you will then be able to see your exchanged funds in your private wallet that you have assigned as your receiving address.