Eosfinex Guide: a DEX for EOS tokens
2 min read
Eosfinex has just been launched, a platform that allows you to trade with the tokens found on the EOS blockchain, allowing you to access Bitfinex liquidity, but doing everything in a decentralized way. That’s why we decided to make it a guide to better understand how the platform works.
Eosfinex is still in beta, but we can already use it and see how it works from the inside, even if it cannot be used by American citizens and there are several warnings inviting the user to respect this rule, otherwise they will be banned from the platform.
Guide to using Eosfinex
The first step to do will be to connect to the official Eosfinex website and press the “Connect” button at the top right, then a new page will open where we can choose whether to use the Scatter wallet or the Anchor wallet. In our case we will use Anchor.
Once we have logged in with our wallet, we will have to accept the terms and conditions, confirming two different transactions. In this way we will be on a screen where we can allocate our funds within the platform of your choice between Everipedia IQ, EOS, Bitcoin (BTC) via pBTC and also USDT.
Once the funds have been added to our account, we will be able to choose one of the 4 assets to trade and create our offer, purchase or sale. Here we can decide the price and create the order by pressing the “Submit Buy” or “Submit Sell” button. To confirm we will then have to approve the transaction with our wallet.
Then all we have to do is wait for our order to be completed. As we can see, we have a trading limit of 7.500 USDT per day, which you can increase by providing your personal information through KYC (Know Your Customer) and AML (Anti Money Laundering).
This feature is not yet enabled, but will be introduced soon, along with the ability to use fiat directly.
With this Eosfinex platform, which we remind you uses the liquidity of the most famous Bitfinex, we will expand trading on the EOS blockchain, because we will be able to retrieve any token and in a completely decentralized way.
The post Eosfinex Guide: a DEX for EOS tokens appeared first on The Cryptonomist.
