Trading on Trust Wallet
“One of the essential needs for a working crypto economy is to have the ability to swap or exchange your Digital Assets,’’ said our Founder Viktor Radchenko. ”This, and the ability to always stay in control of your own Money. Binance Chain and Binance DEX fulfill both these needs.”
A Decentralized Exchange ( DEX ) is a crypto-exchange which operates in a decentralized way, without a central authority that takes control over your assets. This means that this application runs on the blockchain and your funds are secured by your private key.
Here is a more in depth explanation: Cryptocurrency Exchanges, Which One Should I Choose?
Before you send your tokens to the wallet, please make sure that:
- The token is listed on the DEX
- You have some ETH or BNB to pay for the network fees.
KyberNetwork is an open-source project that has introduced a solution that allows people to send a token in and get another one out without a relayer, anonymously. You can instantly Swap your ETH to any supported ERC20 tokens. You can also do the swap in reverse if you sell your ERC20 tokens to ETH. Swaps are similar to market trades so be very careful when doing this method.
Binance DEX relies on the core Binance Chain technology and has one-second block times with near-instant transaction finality. As a result, Binance DEX can support similar trading volumes as Binance.com. The platform doesn’t take custody of funds, and traders maintain control of their private keys. You can do a simple swap, as well as manually set a Buy or Sell order on the Exchange tab.
We have a guide on How to Trade with the Built-In DEX
My Token is Not Listed, What Should I Do?
The tokens that you will find on the built-in DEX are those that are already trading on Kyber Network and Binance DEX. If you cannot find your coin or token, please check CoinMarketCap and search it there. There will be a tab there for Market Pairs, from here you can see a list of exchanges where you can trade your coin or token.