Bids, Asks & Standing Orders

Step-by-step instructions

1. 1 Two sides of the wholesale market

   On traditional dealer exchanges you may see a centralized bid/ask book — every open buy and sell order in one grid. Coin Dealer X is dealer-to-dealer: each shop posts its own inventory and buyers respond directly. Think of it as asks = active listings and bids = buyer interest, not one shared limit-order book.

2. 2 Seller asks (your wholesale offers)

   A seller ask is any active listing on Browse or a dealer storefront. Pricing types include fixed price, Greysheet ± adjustment (live GS bid plus or minus your offset), make offer, and bullion priced at live spot + premium. The bullion board shows the best current ask per bullion product across all dealers.

3. 3 Buyer bids (Looking For)

   When nothing on Browse fits, buyers post on Looking For (Discover → Looking For & bids). A standard request describes what you need and a budget range; sellers reply with quotes in Messages. This is an open bid in the sense that you are advertising willingness to buy — not a hidden order in a matching engine.

   

4. 4 Standing bids (firm max price)

   A standing bid is a buyer post with a maximum price you will pay for a specific item (optionally tied to Greysheet grade and cert). Sellers who hold matching inventory open the bid, pick one of their active listings, and click Fill standing bid. CDX creates a quote at your max price and opens a message thread — you accept or negotiate from there. Standing bids expire like other Looking For posts (default 90 days).

5. 5 Live Greysheet on both sides

   Catalog sellers can list at GS ± adjustment so the ask moves with the Greysheet bid (refreshed about every four hours on browse/listing views). Use a negative adjustment when GS bid is overstated for a weak market. Buyers can anchor standing bids to a Greysheet coin and grade when posting. You need SpotPro linked (same email) or Greysheet API access — see Post a catalog item and SpotPro docs.

6. 6 What CDX is not

   CDX does not run a full CDN Exchange–style central order book, auction comps floor, or anonymous cross-matching. Every transaction still goes through vetted dealer identities, your chosen payment rails, and optional cart checkout. Use Browse for immediate asks, Looking For for open bids, and standing bids when you have a firm top price.