#1
Purchase crypto.
Things to Know:
• To swap crypto, you use a decentralized exchange (DEX).
• Most DEX are built on the blockchains of Ethereum, Binance Smart Chain or Solana.
• If you do not know how to purchase crypto, refer below.
#3
Transfer crypto from exchange into wallet.
Things to Know:
• Wallet receiving crypto must be compatible with the DEX.
• Every transaction has a withdrawal fee (exchange fee), a network fee (blockchain/miner fee) and a transaction time.
• Do a test with a small amount before sending full amount.
#4
Connect Wallet to DEX.
Things to Know:
• Wallet receiving crypto must be compatible with the DEX.
#5
Swap purchased crypto with new crypto.
Things to Know:
• When swapping crypto on DEX, usually swap for tokens not listed on large exchanges.
• Gas fees can vary dependent on many variables.
• Increase slippage tolerance to increase likelihood of order transacting.
december 15, 2021