What is a DEX
How to Swap Video (no audio)
How to Swap Guide
Slippage, Price Impact, etc
What is a DEX?
Trading on a Decentralized Exchange (DEX) offers a unique experience distinct from traditional, centralized cryptocurrency exchanges. In a DEX environment, traders engage in direct peer-to-peer transactions without the need for an intermediary, enhancing privacy and control over their assets. To start, a user must first set up a digital wallet compatible with the DEX, such as MetaMask or Trust Wallet. They then deposit cryptocurrencies into this wallet to prepare for trading. The process involves connecting the wallet to the DEX, such as Trader Joe, selecting the desired trading pairs, and executing trades, which can be done through market (swaps) or limit orders.
How to Trade Tokens: Video Guide
How to Trade Tokens: Step by Step Guide
Setup a Trade
Go to the Trade page and click the drop down to open the Token List.
Search for the token you want to swap out of, you can either enter a contract address or type in a token. Select once you have found your token.
3. Select your Token
Select the token you want to swap into by either clicking one of the quick pick token logos or selecting the token list and searching / picking a token from there.
4. Finish your Trade
Enter the amount of tokens you want to swap and press 'Swap'. You should now be able to verify this transaction in your wallet. Your swap will engage and execute within seconds. You may need to refresh your browser UI to see the balances update.
Understanding the Specifics, such as Slippage and Price Impact