A Complete Beginner’s Guide to using a Decentralized Exchange (DEX)

A tutorial on how to use the StealthEX exchange to trade crypto with no KYC

A Complete Beginner’s Guide to using a Decentralized Exchange (DEX)

By Wendy’s Whitepaper Contributor: Dragonwolftech

User Level: Beginner

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We looked at the difference between a centralized (CEX) and decentralized (DEX) exchange in a previous article. In this article, we are going to look at how to use a DEX with StealthEX. Ease of use is an essential factor when considering which exchange or swap to access the growing number of digital assets on the market. StealthEX is a non-custodial cryptocurrency exchange that provides a simple interface that allows users to swap or buy the crypto of their choice.

Note: As with any exchange, how quickly exchanging currencies completes will depend on various factors, including network congestion. Patience is important.

With StealthEX, as with other decentralized exchanges, an account is not necessary to use the platform. For this article, we will stick to swapping one cryptocurrency for another, so you get an idea of how easy it is to use StealthEX as a platform. StealthEX has an impressive number of assets available for users to swap. Use the drop-down on the send and get sides of the interface to see what options are available.

StealthEX allows users to switch between a floating and fixed exchange rate on every swap. With a floating exchange rate, the amount you receive could change depending on the market conditions.

With a fixed exchange rate, the amount will remain the same irrespective of the changes on the market. After you have made your choice as to which cryptocurrencies you will be swapping, in this example, we will be trading BTC for DOGE. 

You can either enter how much of the currency you want to send to see how much in the new currency you will receive in return or vice versa; the interface will tell you if your desired send meets the platform’s minimum.

Next, enter the address for the currency you want to exchange for, check that you agree to the terms of use and privacy policy, and select next.

The next step is to send the currency you are exchanging to StealthEX; the platform defaults to a 20 minute counter to receive the deposit.

Once StealthEX receives and confirms the deposit, the platform will begin the exchange process. Once the exchange process is complete, StealthEX will send the swapped currency to your wallet. 

Depending on the currency exchanged, it can take a few minutes to a few hours to receive to your wallet. StealthEX provides users with enough information to provide StealthEX support to find out the status of the exchange. 

StealthEX provides a user-friendly and straightforward interface to exchange cryptocurrencies without the need for KYC, providing personal information with a large variety of assets to choose from.

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Email: marketing@stealthex.io Support: support@stealthex.io

Wendy’s Whitepaper Disclaimer: Please be advised that I own a diverse portfolio of cryptocurrency assets, and anything is written or discussed in connection to cryptocurrencies– regardless of the subject matter’s content– may represent a potential conflict of interest. I wish to remain transparent and impartial to the cryptocurrency community at all times, and therefore, the content of my media is intended FOR GENERAL INFORMATION PURPOSES ONLY. Nothing that I write or discuss should be construed, or relied upon, as an investment, financial, legal, regulatory, accounting, tax, or similar advice. Nothing should be interpreted as a solicitation to invest in any cryptocurrency, and nothing herein should be construed as a recommendation to engage in any investment strategy or transaction. Please be advised that is in your own best interests to consult with investment, legal, tax, or similar professionals regarding any specific situations and any prospective transaction decisions.