Placing your first trade
A quick guide to placing a trade on Rubicon

How to place your first trade on Rubicon ๐Ÿ“ˆ

Now that your wallet is connected to the Rubicon app, we can make our first trade. Once again, we will use the MetaMask wallet for this tutorial. We will start on the Trade view on the Rubicon app:
Search for tradeable assets on the Trade View
In this tutorial, we will show you how to buy some ETH on Rubicon. This means we already have both ETH and USDC in our wallet. Remember, always have some ETH in your wallet to cover your network fees. 1. Let's click on Buy (in the bottom right) to get ourselves some ETH. This will pull up the Trade popup. Enter the quantity of ETH you want to buy (we will do 0.5), and the total for your order will be calculated based on the current market price of ETH (in USDC).
Customize your order in the Trade popup
2. The first time you trade any token on Rubicon, you will need to approve Rubicon's contract to spend that token. You will only have to do this once per token, approvals are a part of the ERC-20 token standard. You will have to confirm the approval in your wallet. Approvals are fairly cheap transactions.
Click Confirm to continue
3. Now that we approved USDC on Rubicon, we can go ahead and place our ETH buy in the Trade popup. (The "Approve" button will switch to "Buy")
On the Trade popup, we can see the current market price, the USDC balance in our wallet, the Rubicon fee for the trade, and our order total. We are buying ETH using a market order, meaning our only input is quantity; we just want to buy 0.5 ETH right now at the current best price.
You can also place limit orders on Rubicon, where you input both a price and a quantity for your order, but there is no guarantee for when your trade is executed. You can cancel outstanding limit orders in the History view in the Rubicon app. You can switch between market and limit orders in the Trade popup, but when you click the Rubicon app will default to market orders.
4. To complete your ETH purchase, click "Buy" and confirm the transaction in your wallet. Your wallet may give you the option to adjust your gas price and your gas limit. It is very important that you DO NOT edit the amounts that your wallet shows you. Gas fees on Optimistic Ethereum work differently from Ethereum L1, more details can be found here. To sum up the differences, raising your gas price will not help your transaction confirm faster, and editing the gas limit will likely cause your transaction to fail. Click "Confirm" to submit your trade.
5. After confirming the transaction in your wallet, you just need to wait for the transaction to be confirmed. On layer 2 this happens very quickly!
Your trade was confirmed and you can view the details on Optimistic Etherscan!
You're all done and your trade is confirmed! As a quick review, layer 2 trades on Rubicon are faster, cheaper, and much smoother than trading on layer 1.
We hope this guide helped! If you are still stuck or confused, let us know in the #support channel in our Discord. Happy trading ๐Ÿ“ˆ
Last modified 1mo ago
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