Spot trading FAQ
Spot trading in the Peer mobile app lets you buy and sell crypto tokens and tokenized stocks from the Trade tab. Your cash in the app is USDC on Base. Every buy spends that USDC, and every sell returns to it.
What is a tokenized stock?
It is a token, issued by a company such as xStocks, Robinhood, Coinbase, or Ondo, that tracks a share's price. It is not the share itself. The asset page names the issuer and network of the version you trade. Read the issuer's terms for what backs its token.
Who starts the order?
You do. You choose the asset and tap Buy or Sell. If you don't have enough cash for a buy, the app offers Add cash. You then buy USDC from a seller with a local payment method, for example UPI in India. Sellers only supply USDC. They never start your trade.
What price do I pay?
There are two prices:
- Local currency to USDC. This is the seller's rate. It is locked when you place the cash order.
- USDC to the asset. This is the live market price of the token. The app shows a quote with the total cost before you confirm.
A stock token trades on its own markets and follows the share price. The app does not show a separate reference price for the underlying share.
Is the stock priced in my local currency?
No. Tokens and stocks are priced in US dollars and paid for in USDC. The app converts prices into your display currency, such as INR, so you can read them easily. The conversion is for display only.
What if the price changes after I pay?
Your USDC amount is fixed when your cash order is placed. When the USDC arrives, the app shows Your cash has arrived and takes you back to the same asset and amount with a new quote. You confirm the buy at the price then. The amount of the asset you get can be a little more or less than you first saw. To cover small price moves, the app asks you to add a little more cash than the buy needs.
Each quote is valid for 30 seconds. After that, the app gets a new quote before you can confirm. If the price moves past the slippage limit shown in the cost details, the trade does not go through and you get a refund. The app shows what came back.
Can I buy in one step?
From your side, you buy the asset, for example Tesla. If you already have cash, it is one step: slide to buy. If you don't have cash, you add cash first and then confirm the buy. The app keeps your buy and brings you back to it.
When can I trade stocks?
At any time, also when the US market is closed. The asset page shows the US market session. When the market is closed, the token price comes only from token trading.
What does a trade cost?
Before you confirm, the app shows the total cost as an amount and a percentage. It also shows each part: Peer's fee, routing and network costs, and price impact. Peer's fee is up to 0.50% of the trade. Peer pays the network gas, so you don't need ETH, BNB, or SOL. Always trust the current values shown in the app.
How do I sell?
Open the asset and tap Sell. A sale returns USDC to your cash balance. To move that cash to your bank, tap Sell on Home.
Can I trade perps?
Yes. Perps, including stock perps such as Tesla, are on Hyperliquid in the Perps section. Perps are priced in US dollars, use USDC as margin, and pay profit and loss in USDC. Peer has no perps priced in INR or other local currencies.
Why can't I trade a token?
Some tokens can't be traded from some regions or don't have enough liquidity. The app tells you when a token isn't available to trade.