Below is a helpful guide to get your started with the Stellar Desktop Client. The Stellar Desktop Client is an open source desktop client. It allows you to encrypt your secret key and store it as a file locally on your computer.
- Navigate to the following website and install the Stellar Desktop Client for your device:
- Unzip the folder and open nwjs.app
Create an Account
- Click Create new account
- Select ‘create account with secret key’ and enter the secret key for your current Stellar account
- Follow the prompts. This will create a file and a password you can use to login
- Note your public key and secret key somewhere safe. You can either write this down or print it out or use a PW manager such as LastPass
Below is a brief description of the different features offered by the Stellar Desktop Client. You can find each of these as a tab along the top of the navigation bar.
- History: Allows you to view each individual transaction and payment made by your account
- Trade: Allows you to create market and limit orders between any assets you trust
- Balance: Displays your balance for each asset you trust
- Send: Allows you to send any asset you own to another account
- Trust: Allows you to trust any of the listed asset issuers
- Deposit/Withdraw: Allows you to deposit or withdraw fiat currency through any of the bank partners listed
Now let’s walkthrough using the Stellar Desktop Client to trade lumens for EURT.
- Navigate to the trust tab
- Create a trust line with EURT
- Navigate to the trade tab
- Select the link “choose your trade pair”
- Select XLM as base asset (if it is faded, you have already selected it)
- Select EURT as counter asset
- Select “go back to trade page”
- Scroll down and view the order book. A screenshot of an example order book is below:
- ‘Buy Offers’ represents offers to buy XLM with EURT. ‘Sell Offers’ represents offers to sell XLM for EURT
- Price = quantity EURT/ quantity XLM
- XLM = quantity of XLM
- EURT = quantity of EURT
- Depth = Sum of quantity EURT offered at or above listed price. In the above scenario, the depth on the first buy order is 722.59, the same as the quantity of EURT. The depth on the second buy order is 722.59 + 1.44 (quantity of EURT on first order + quantity of EURT on second order).
5. Let’s make an order to sell XLM in exchange for EURT. At the top of the page you should see a sell XLM column.
- You need to fill 2 of the three boxes
- Amount = quantity XLM to sell
- Price = quantity EURT/quantity XLM
- Order Value = Amount * Price
Scenario #1 (market order)
- I want 1 EURT now
- The order book shows I can buy EURT right now for a price of .0171
- I enter in the Sell Column: price = .0171 and order value = 1
- Result: I fill the existing buy offer and receive 1 EURT in exchange for 58.47 XLM
Scenario #2 (large market order)
- I want 1000 EURT now
- I am willing to pay a price up to .009
- I enter in the Sell Column: price = .009 and order value = 1000
- Result: I fill the top two existing buy offers. I purchase all 722.59 EURT available at a price of .0171. Then I purchase the next 287.41 EURT at a price of .009
Scenario #3 (limit order)
- I want some EURT, but with no time constraint
- I am willing to pay a price up to .0205
- I enter in the Sell Column: price = .0205 and order value 10 EURT
- Result: My sell offer appears in the order book, organized by price. I wait until another person fills my order.