# Buying

<figure><img src="https://1182510840-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FEnsYEYskGSC1KOY7hNQr%2Fuploads%2FYRDh0x5Yq8f18ObBjX5f%2Fhypurr%20otc%20git7.jpg?alt=media&#x26;token=38c305fb-4531-403f-912f-13688b453bcf" alt=""><figcaption></figcaption></figure>

**Placing a Bid, creates an on-chain transaction with a defined Quantity ("Depth").**

* Submit a Bid by escrowing funds  (in USDT0) equivalent to the bid amount as collateral.
  * The bid will only be live and valid if you have enough funds in your wallet.
  * If accepted, funds will automatically be withdrawn from your wallet.
* <mark style="color:red;">**Once matched, your bid becomes locked and non-refundable.**</mark>
  * Cancellation or editing your Bid is only allowed **before** your bid is matched.
* A matched Bid enters [fulfillment](https://drip-trade.gitbook.io/drip.trade/fulfillment "mention"), where the NFT must be delivered by the seller.

Buying into an existing Ask creates an on-chain, **non-refundable** transaction.