Welcome to the Lesson 9 recap! In this lesson, we cover how to buy coins on decentralized exchanges (DEXs)—a crucial skill for crypto investors who want full control over their assets and access to a wider range of tokens.
🚀 Mastering Decentralized Trading
Decentralized exchanges (DEXs) allow users to trade cryptocurrencies without relying on intermediaries. This lesson teaches you how to navigate DEXs, swap tokens, and stay secure while trading.
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🔥 Key Topics Covered in Lesson 9
1️⃣ Understanding DEX Trading Basics
✅ What is a DEX?
A Decentralized Exchange (DEX) is a peer-to-peer marketplace that enables users to swap cryptocurrencies without a central authority. Unlike centralized exchanges (CEXs), DEXs are non-custodial, meaning you have complete control over your funds.
🔹 Popular DEXs:
- Uniswap (Ethereum-based)
- PancakeSwap (BNB Chain-based)
- Radium (solana-based)
🔍 Pro Tip: Always research a DEX before trading to ensure liquidity and security.
2️⃣ How to Buy Coins on a DEX
🔹 Step 1: Connect Your Wallet
- Use MetaMask, Trust Wallet, or any Web3 wallet to connect to the DEX.
- Ensure your wallet is on the correct blockchain network (Ethereum, BNB Chain, etc.).
🔹 Step 2: Select the Token to Swap
- Choose the token you want to buy and the token you will use to pay.
- Check contract addresses to avoid fake tokens.
🔹 Step 3: Adjust Slippage & Confirm Swap
- Slippage tolerance ensures your transaction doesn’t fail due to price changes.
- Confirm the transaction in your wallet and wait for blockchain confirmation.
🔹 Step 4: Verify the Transaction
- Check the transaction on a blockchain explorer (Etherscan, BscScan, etc.).
🔍 Security Tip: Always verify token contract addresses on official sources to avoid scams!
3️⃣ Benefits of Buying on DEXs
✅ No KYC Requirements – Trade anonymously without ID verification.
✅ Access to New & Exclusive Tokens – Find new altcoins before they list on centralized exchanges.
✅ Full Control Over Your Assets – No need to trust third parties with your funds.
Missed Previous Lessons? Catch Up Now!
✅ Lesson 1: Introduction to Crypto & Blockchain
✅ Lesson 2: Understanding Cryptocurrency & Wallet Security
✅ Lesson 3: Navigating Trust Wallet & Transactions
✅ Lesson 4: Understanding Crypto Exchanges, Binance, and Security Measures
✅ Lesson 5: How to Analyze Crypto Metrics & Navigate Aggregators
✅ Lesson 6: How to Acquire Crypto & Buy/Sell on Binance
✅ Lesson 7: How to Set Ads on Binance P2P, Become a Verified Merchant & Avoid Scams
✅ Lesson 8: Setting Up MetaMask on phone and pc & Introduction to DEXs
Stay tuned for Lesson 10, where we explore FACTORS AFFECTING THE RISE AND FALL OF CRYPTO PRICES! 🚀
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🚀 Master Crypto Trading & Stay Ahead of the Market!
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