01What
Places a trade order on the ledger's built-in exchange: 'I will give this much of asset A for that much of asset B.' It fills instantly against matching orders, and any remainder rests on the books.
02Why you'd use it
This is how you buy or sell tokens without a centralized exchange — you keep custody of your funds the entire time.
03How
- 1Fill the selling side: Selling Currency (use XRP for XRP), Selling Issuer (blank for XRP), and Selling Amount.
- 2Fill the buying side the same way: Buying Currency, Buying Issuer, Buying Amount.
- 3The ratio between the two amounts IS your price — 100 XRP for 50 USD means you are pricing XRP at 0.50 USD.
- 4Pick an Offer Type: standard rests on the books; immediate-or-cancel and fill-or-kill never rest; passive only rests without consuming equal-priced offers.
- 5Submit and confirm tesSUCCESS, then check Account Offers to see if any part is still open.
Watch out
- An offer resting on the books locks 0.2 XRP of owner reserve until it fills or you cancel it.
- Get the ratio backwards and you have offered a terrible price that fills instantly — someone will happily take it. Double-check which side is which.
- To buy a token you must already have a trust line to its issuer.
- tecKILLED means a fill-or-kill order could not fill completely — the fee is burned but no trade happened.
- Offers can partially fill; you may end up with half a trade unless you chose fill-or-kill.
For example
You want to swap 100 XRP into a USD stablecoin. The order book shows the best offers around 0.52 USD per XRP, so you place an offer selling 100 XRP for 51 USD — slightly better than market — and it fills within a minute.