Converting your balances

Using Layer1 you can convert balances held at your connected trading venues. With Layer1's API connections to the venues you are able to optimise conversion by having them placed across multiple venues to achieve best order execution.

Layer1 has several concepts that you will see throughout the platform:

Concept	Description
Conversions	A conversion represents a single transaction on the Layer1 UI that maps a currency exposure (e.g., converting EUR to USDC). It is the highest-level entity in this hierarchy and serves as the starting point for the trading process.
Legs	Each conversion can consist of one or multiple "legs." A leg represents a segment of the conversion process, such as splitting the transaction into smaller parts for execution (e.g. EUR to BTC, BTC to USDC)
Orders	Each leg can have multiple orders. An order is a specific instruction sent to a trading venue (e.g., Kraken, Coinbase) to execute a part of the conversion. Orders are created based on the conversion's requirements and routed to the appropriate venues for execution.
Trades	Each order can result in multiple trades. Trades are the actual executions that occur on the trading venue, fulfilling the order's requirements. For example, an order to buy 10,000 USDC might be fulfilled through multiple smaller trades on the venue for more optimised execution.
Movements	The sum of all trades at the asset level is referred to as "movements." This represents the final financial impact of the trades in terms of your asset balances.