How to use IDEX Decentralized Exchange. Let’s use it with Trust!

This article is a translation of「分散型取引所 IDEX の使い方! Trust で使ってみよう!」.If there are any mistranslation etc., please let me know with the DM of Twitter.

IDEX is a decentralized exchange for Ethereum-based tokens. IDEX can be used on mobile wallets including Trust wallet!

This time, I will show you how to use IDEX using Trust!

What is IDEX?

IDEX is a decentralized exchange for Ethereum-based tokens. IDEX allows users can trade Ethereum-based tokens.

IDEX does not deal directly from your wallet, it is necessary to deposit a token on the IDEX smart contract.

IDEX smart contract is designed such that only the exchange is authorized to submit signed trades to Ethereum.

How to use IDEX

Let’s use IDEX with Trust!

I will buy AURA token with ETH.

Wallet unlock / ETH deposit

First of all, go to IDEX page with Trust’s DApps browser.

IDEX URL:https://idex.market/

When the screen is displayed as shown below, select “UNLOCK WALLET”.
If the welcome screen is not displayed, you can go to the next step by selecting “UNLOCK WALLET” from the menu in the upper right.

 

Select “Software Wallet” and then tap “UNLOCK SOFTWARE WALLET”.

 

You are now signed into IDEX and can deposit ETH. Select “FULL BALANCES” from the menu in the upper right.

 

Your wallet balance will then be displayed.
When ✔ is added to “Hide zero balances”, the token with a balance of 0 disappears, making it easier to find the token. If necessary, use the Filter field to find the token you want.

If it is a smartphone, the display width is narrow. Slide the table to left, then there is a “DEPOSIT” button on the right and tap it.

 

After tapping deposit you will receive a popup with an input field. In that field put the deposit amount and choose the gas price. Tap “DEPOSIT” when input is completed.
Next, after tapping deposit you will receive a confirmation popup. Review it and tap “CONFIRM”.
You will generate a transaction on the wallet side, so approve it.

 

Note
IDEX has instituted a minimum order of 0.15 ETH for makers, and 0.05 ETH for takers.
Also, please note that there is a 0.04 ETH minimum withdrawal amount for all tokens.

After approving transaction, you will receive another popup that informs you the deposit is processing, please be patient.

 

Let’s see if the payment is reflected.
Tap “BALANCE HISTORY” from the menu in the upper right.

 

Since the deposit history is displayed, slide and check the status.
If it is completed, it should be displayed as “COMPLETE”.

 

You are now able to trade!

Buy and sell tokens

Select “EXCHANGE” from the menu.

 

Since a list of handling tokens is displayed, select the token you want to buy and sell.
This time I will select “AURA”.

 

Then, you can check information such as charts and boards.
Changing the “Type” field as below, you can select Limit order or Market order.
Please note that the minimum order amount is different. (Limit: 0.15 ETh, Market: 0.05 ETH)

In addition, a fee is required for each. (Limit: 0.1%, Market: 0.2%)

If you want to place a limit order, fill in the price you want to buy the token and the amount you want to buy.

 

This time I will order with Market. Tap “BUY” and proceed.
As confirmation and signature popup are displayed, confirm and proceed.

 

Then, the AURA token on the screen was reflected.

 

Note
The trading results are lower than the amount of tokens you filled, this is because gas fee is deducted.
Please note that takers are responsible for covering the gas fees associated with each trade.
Gas fee is not adjustable, gas price is listed on the menu so please check as a guide.
(Ethgasstation’s fast setting + 2 is used to set gas price)

Trading of tokens is now complete!

You can sell in the same way as buy.

 

Withdraw tokens

Let’s withdraw the tokens to your wallet.
Tap “FULL BALANCES” from the menu in the upper right.

Find the token you want to withdraw and tap the “WITHDRAW” button on the right.

 

Fill out the popup with the amount of token you want to withdraw, and then tap “WITHDRAW”.
Tap “Withdraw entire balance” if you want to withdraw your entire balance.

 

As confirmation and signature popup are displayed, confirm and proceed.

 

After a while you can see the status of your withdraw.

Note
The result of withdrawal is less than the number of tokens withdrawn, this is because gas fee is deducted.
Gas fee is not adjustable, gas price is listed on the menu so please check as a guide.
(Ethgasstation’s fast setting + 2 is used to set gas price)

 

When checking the wallet side, you able to confirm that it is properly deposited!

 

 

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ABOUTこの記事をかいた人

金融系WEBエンジニアの傍らにいろいろと書き溜めておこうと思いブログを開始。 DApps×スマホの未来に期待し、スマホ中心に記事を展開していきます。 初心者にやさしく技術的なことをまとめられたらと思っています!