Xaman Help Center
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  • Welcome to the Xaman Help Center!
  • Getting started with Xaman
    • ๐Ÿ’™Understanding the Xaman Service Fee
    • ๐ŸŽ‰Xaman 4.0
    • How to create a RLUSD Trust Line
    • ๐Ÿ’ธWhat is Xaman?
      • Understanding Self custody
      • Where are your funds stored?
      • Xaman & natural disasters
      • Common misconceptions
    • Installing Xaman
    • Your first XRP Ledger account
      • How to create an XRP Ledger account
    • Activating an account (XRPL)
      • From GateHub
      • From Uphold
      • From Kraken
      • From Crypto.Com
      • From Coinbase
      • From Kucoin
      • From Binance
      • From Bitrue
      • From Bitstamp
    • Importing your account (XRPL)
      • Should I import my XRP Ledger account into Xaman?
      • ...with Secret Numbers
      • ...with a Family Seed
      • ...with a Mnemonic
      • ...a Xaman card
      • ...in Read Only mode
      • How to import an XRP Ledger account from a hardware wallet
    • Buying XRP
      • Banxa
      • BTC Direct
      • Guardarian
      • Topper
      • C14
      • Xaman On/Off Ramp
    • Sending tokens to Xaman
    • Sending XRP to Xaman
    • Sending tokens from Xaman
    • Sending XRP to Moonpay
    • How to convert a Read only account to Full Access
    • Deposit to Exchange Didnโ€™t Arrive
    • Can Xaman reverse, freeze or undo a transaction?
    • Can I view/export my account secret?
    • I've lost my account secret!
    • Accessing your XRP Ledger account
    • General Terms and definitions
    • How to create a Trust Line
    • How to test your Account Secret
    • How to Rekey an XRP Ledger (XRPL) Account
    • How to disable the Master key
    • How to enable the Master Key
    • How to configure biometrics
    • Displaying XRP value
    • How to migrate from Toast Wallet to Xaman
    • Why adding / generating & confirming "Secret Numbers" is not user friendly
  • Learning more about Xaman
    • ๐Ÿ“ฑGot a new phone?
    • ๐Ÿช™Supported tokens
    • Adding an Icon/Logo to a Trust Line in Xaman
    • Cashing out your XRP
    • Cashing out with GateHub
    • Adding Euro tokens via GateHub
    • Xaman & the Flare network
    • Xaman & AMM
    • Xaman & Fractal ID
    • Spam on the XRP Ledger
    • How to set the currency
    • How to change your Email Address
    • KYC
    • xApp Publishing
    • How to Get a Token Added to the Xaman Short List
    • Destination tags
    • How to recover a Casinocoin (CSC) account
    • GateHubโ€™s issued tokens
    • How to send SGB to BiFrost
    • Taxes and your XRPL/Xahau accounts
    • How to reset the 6 digit passcode
    • Resetting the (account) signing password
    • Deleting an XRPL account
    • Official communication channels
    • NFTs
      • NFT Burn Process
    • Does Xaman offer Staking?
    • I've been scammed!
    • How to take a screenshot
    • Moving your XRPL account to another wallet
    • Feeling Generous?
    • How to access Testnet on XRP Ledger
  • Configuring Xaman
    • Understanding the Settings Options
      • How to take a screenshot
      • Events screen
      • Security screen
      • How to post a Session Log
      • Third party apps
  • XAMAN (TANGEM) CARDS
    • All about Xaman (Tangem) cards
    • Getting started with your new cards ๐Ÿค—
    • How to configure a backup signing account
    • Creating a pin on your card
    • Best Security Practices Using the Xaman (Tangem) Cards
    • Lost or damaged cards
    • How safe is a card?
    • How to link an existing account to a Xaman card
  • ALL ABOUT XAPPS
    • Xaman xApps
      • Account Worth
      • Account Merge
      • Vanity Address xApp
      • Get Cards
      • DEX Trade
        • The price difference between selling and buying is too high
      • Path Finding
      • Xumm Pro Beta
      • Buy/Sell XRP
    • XRPL Services
      • Token Trasher
        • How to remove a Trust Line
        • How to get rid of tokens
      • Escrow creator
        • How to release an escrow
      • Token creator
      • Xahau Import
    • XRP Community
      • Trust in the XRPL Community
      • CasinoCoin Lobby
      • XRP Ledger TipBot
      • UniSpend
      • Transaction Exporter
      • Gatehub Trade
      • Stably xApp
    • Xahau xApps
      • Balance Adjustment
      • XAH Teleport
      • Voucher
  • Xaman Pro
    • ๐Ÿ˜ŽWhat is Xaman Pro?
    • How to subscribe to Xaman Pro
    • Features of Pro
      • Profiles
        • All about Profiles
        • What is PayString?
        • Setting up your Xaman Profile
      • Push notifications
      • Accounts
      • Xaman App early access
      • Free Tangem Card
      • Premium Support
      • Vanity addresses
  • Security and Xaman
    • All About Security
      • How secure is Xaman?
      • Has Xaman been audited?
      • Upgrading your encryption
      • Xaman (Tangem) Cards
      • 2FA and Xaman
      • Account present on another device
      • Quantum Attacks and Xaman
  • XRP Ledger resources
    • XRP Ledger Concepts
      • Video: Reserves and Fees on the XRPL
      • About Reserves
      • Payment Channels
      • Multi Signature
      • Understanding fiat currencies
  • Release notes
    • Current release
    • Previous releases
      • ๐Ÿ˜ŽUpdating to Xaman v2.8.2!
      • Xaman v2.8
      • Xaman v2.6 (Formerly Xumm)
      • Xumm v2.5
      • ๐ŸฅณUpdating to Xumm v2.5!
      • Updating to Xumm v2.4
      • Xumm v2.4
      • Xumm v2.3.1
      • Xumm v2.3.0
      • Xumm v2.2.8
      • Xumm v2.2.6
      • Xumm v2.2.5
      • Xumm v2.2.3 / v2.2.4
      • Xumm v2.21
      • Xumm v2.0
      • Xumm v1.0.0
      • Xumm v0.6.0
      • Xumm v0.5.2
      • Xumm v0.5.1
  • About Xaman & XRPL Labs
    • About XRPL Labs
    • ๐Ÿ‘จโ€๐Ÿ‘ฉโ€๐Ÿ‘งโ€๐Ÿ‘งThe XRPL Labs/Xaman team
      • ๐Ÿ“บTeam: Ali, Satish & Koen
      • ๐Ÿ“บTeam: Richard & Tristan
      • ๐Ÿ“บTeam: Chris & Alex
      • ๐Ÿ“บTeam: Tom & Kevin
      • ๐Ÿ“บTeam: Dominique & Dirk Jan
      • ๐Ÿ“บTeam: Patrick & Will
      • ๐Ÿ“บTeam: Mai
      • ๐Ÿ“บTeam: Denis & Robert
    • Xaman vs. Ripple
    • Privacy Statement
    • Terms of Service
    • Responsible Disclosure Policy
    • Switching from Ledger to Xaman
  • Xahau
    • Activating a Xahau account
      • Activating an XRPL account on Xahau
      • Activating a Xumm card account on Xahau
      • Activating a Vanity Account on Xahau
      • How to send XAH from GateHub
      • How to send XAH from Bitrue
      • Via another Xahau account
    • Understanding the XAH token on the XRP Ledger
    • Understanding Reserves on Xahau
    • Understanding Trust Lines on Xahau
    • How to create a XAH Trust Line in your XRPL account
    • How to create a Trust Line (Xahau)
    • How to create an Evernode Trust Line
    • How to trade XAH coins
    • How to Rekey a Xahau account
    • How to trade Evernode (Evr) tokens
    • How to send XAH to GateHub
      • How to send XAH Tokens to GateHub - Hosted account
      • How to send XAH Tokens to GateHub - Self Custodial account
      • How to send XAH coins to GateHub - Hosted account
      • How to send XAH coins to Gatehub - Self Custodial account
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  1. Getting started with Xaman

General Terms and definitions

Some common terms and definitions related to the XRP Ledger and Xumm

XRPL - Stands for the XRP Ledger.

Account Secret - The Secret Numbers, Family Seed or Mnemonic for your account.

XRPL Labs - The company that created and developed the Xumm application.

Secret Numbers - The set of numbers that are displayed when an XRPL account is created using Xumm.

The DEX

XRP Ledger has a native decentralized exchange (DEX) that lets anyone buy or sell any asset that exists on the XRPL. Since anyone can issue assets on the XRPL, the DEX is an incredibly useful and powerful tool. It is basically a global market place where buying and selling takes place at any time.

The Spread

The spread is the difference between the bid and the ask prices of a token on the DEX. For example, if you place an order for 100 tokens for 100 XRP, but the current orders are for 100 tokens for 105 XRP, the spread is 5 XRP. You are bidding 100 XRP, people are asking for 105 XRP. The difference is 5 XRP.

Slippage

Slippage is a crypto trading term that describes the difference between what was expected and what actually occurred. Slippage is the amount of money lost or gained as a result of market fluctuations while executing an order.

Liquidity

Liquidity is the measure of how easily you can convert an asset into another asset. It refers to the ease and speed with which tokens can be bought or sold without significant impact on its value. When a token has good liquidity, there are lots of buyers and sellers. If a token is illiquid, there are not many buyers and sellers and it can be very difficult to execute trades without having a significant impact on the price.

Market Order

A market order is a transaction that tries to buy or sell tokens at the best available price on the DEX. If you are going to place a market order, you should review the charts and the order book depth before placing an order. Make sure that there is a market on both sides of the order book. This means lots of sellers and lots of buyers. If there is only a large number of sell orders, it means that you are trading in an illiquid asset.

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Last updated 1 year ago

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