All prices and sizes on CoinJar Exchange have finite precisions, and CoinJar Exchange has a systematic way of determining the tick sizes and trade sizes.
All order prices can only have 4 significant figures, and the unit of the 4th significant figure is the tick size (or minimum price increment). For example, if a product is traded at between 1000 and 9999, the tick size is 1.
Minimum trade size (or size increment) is determined by the tick size such that trade size multiplied by tick size has 2 decimal places (AUD-denominated pairs) or 6 decimal places (BTC-denominated pairs). For example, if BTC/AUD is between 1000 and 9999, the tick size is $1 and minimum trade size is 0.01 BTC.
To maintain an orderly market, prices of new orders cannot deviate too significantly from the market price. Currently, CoinJar Exchange requires the price of new sell orders to be at least 80% of, and buy orders to be within 125% of, the last tick. For example, if the last price is $500, the minimum sell order price is $400 and the maximum buy order price is $625.
Updated 4 days ago