In October, 2018, we released our mobile native trading apps for iOS and Android. You can find the apps here:
Setting yourself up to trade on DDEX takes only a couple minutes. There is no long, drawn out KYC process. Before you can make your first trade, you only need to do 3 things!
1. Create or import a digital wallet
2. Enable Token Trading
3. Wrap Eth to WETH (only if you're trading WETH pairs)
We'll guide you through each of these processes. If you have any problems along the way, don't worry! We have 24/7 customer support and will gladly help you troubleshoot any issues.
1. Getting Started - Creating or Importing Your Digital Wallet
All of your trades on DDEX are performed through the use of a digital wallet interface. To get started, you first need to either create or import a digital wallet into the DDEX Mobile Interface.
Creating a New Wallet
You can follow these steps on DDEX to easily create a new wallet. We recommend having a pen and paper nearby so that you can safely record some of this information.
Specifically, the 12-word mnemonic phrase that the app provides you is extremely important. It is essential that you keep this phrase safely stored: should anything happen to your phone, or you wish to import the wallet address into a different platform, the ONLY way you can do this is with the 12-word phrase.
Other than that it's very straightforward. Once you create the wallet, you can copy your public address in the wallet tab. Your public wallet address is the value you use to receive funds from another address. So if you purchased Ethereum on a fiat gateway (such as coinbase), you can send Ethereum to your DDEX Wallet by using the public address.
Importing an Existing Wallet
Wallet encryption can be accomplished in several ways. DDEX allows you to import an existing wallet with either a private key, a keystore, or a mnemonic phrase. This is also how you would copy or restore your DDEX Wallet on a new device.
Once your wallet address is imported, you will see the balances populate in the wallet tab.
2. Trading With Wrapped Ether (WETH)
We have multiple base pairs on DDEX, including multiple stablecoins. The most common base pair, however, is "WETH" which stands for "Wrapped Ether".
As mentioned in the demo, we sadly cannot trade Ether in it's standard form. So you have to "wrap" it. It's pretty easy once you get the hang of it.
The above gif shows the process.
- Set how much ETH you would like to wrap to WETH
- Wait a minute or two for the transaction to process
- You are now a proud WETH owner!
*note - you can always unwrap WETH back to ETH at anytime. It's always 1 WETH = 1 ETH, the conversion rate never changes.
3. Enable Token Trading
Before you can sell a token on DDEX, you have to first "Enable" it. This is a one time transaction that allows you to sell the token straight from your digital wallet.
If you are buying a token that is paired with WETH, you also must first enable WETH!
To Enable a token, go to the wallet page and click on the token. From there in the top right you can click to enable it. Submit the transaction, and wait a couple minutes. You're now good to go!
*Note - you do not need to enable a token to buy it, only to sell it.
You're all setup now! Let the trading begin!
Trading Tips and Tricks
We have tried to make trading as intuitive as possible. The gif below shows the flow for purchasing a token:
- Clicking on an existing order auto-fills the fields with price information
- Easy to review your order before submitting it
- Can manage all orders in the ongoing orders section
- Placing and cancelling orders is free. Gas fees are only charged for trades that actually occur!
Encountering an issue not addressed here? Check out our 24/7 customer support for help!