Exchange

How to exchange tokens?

You can exchange tokens by using the built-in DEX feature in Defexa Wallet. Tap the “Exchange” icon and choose the tokens you want to swap. Additionally, the Defexa Wallet swap feature enables users to carry out seamless cross-chain transactions from the App.

How to buy/sell tokens?

To buy tokens, follow these steps:

  1. Tap on the «Buy/Sell» icon
  2. Choose the token you want to buy, enter the amount you wish to purchase, and select the token/currency you want to pay with.
  3. Review the transaction details, such as the price and fees, and click "Swap" or "Confirm Swap" to proceed.
  4. Confirm the transaction in your Wallet.
  5. To sell tokens, go through the same process as buying, but instead, select the token you want to sell and the token you wish to receive in exchange.

How to swap between multi-currency wallets?

You can swap between multi-currency wallets by selecting the wallet you wish to use from the main menu. To swap between multi-currency wallets in Defexa Wallet, follow these steps:

  1. Open the Defexa Wallet app.
  2. From the main screen, select the multi-currency wallet that you want to swap from.
  3. Click on the "Swap" button at the bottom of the screen.
  4. Select the cryptocurrency that you want to swap from.
  5. Select the cryptocurrency that you want to swap to.
  6. Enter the amount of cryptocurrency that you want to swap.
  7. Click on the "Swap" button to initiate the transaction.
  8. Confirm the transaction details and click the "Confirm" button.
  9. Once the transaction is complete, your cryptocurrency will be swapped from one multi-currency wallet to another.

Note that the availability of swap functionality may vary depending on the specific cryptocurrencies and networks you are using. Also, check the exchange rates and fees associated with the swap before initiating the transaction.

How to send tokens?

You can send tokens by selecting the token you wish to transfer from your wallet and entering the recipient's address. To send tokens from Defexa Wallet, follow these steps:

  1. Open the Defexa Wallet app and select the multi-currency wallet that contains the tokens you want to send.
  2. Click on the "Send" button.
  3. Enter the recipient's wallet address in the "To" field.
  4. Enter the token amount you want to send in the "Amount" field.
  5. Select the appropriate token from the list of available tokens.
  6. Set the appropriate network fee to determine how quickly your transaction will be processed.
  7. Click on the "Send" button to initiate the transaction
  8. Confirm the transaction details and click the "Confirm" button.
  9. Once the transaction is complete, your tokens will be sent to the recipient's wallet.

Note that the availability of certain tokens and the network fees required to send them can vary depending on the specific blockchain network you are using. Always double-check the accuracy of the recipient's address before sending any tokens, as transactions are irreversible once they are confirmed on the blockchain.

How to receive tokens?

You can receive tokens by sharing your wallet address with the sender. To receive tokens in Defexa Wallet, follow these steps:

  1. Open the Defexa Wallet app and select the multi-currency wallet in that you want to receive tokens.
  2. Click on the "Receive" button.
  3. Your wallet address will be displayed on the screen. Copy the address or share it with the sender.
  4. Make sure to double-check the accuracy of the wallet address before sharing it with the sender.
  5. Once the sender sends the tokens to your wallet address, the tokens will appear in your wallet.

Some blockchain networks require a minimum balance or activity level to receive tokens. Always check the specific requirements for the blockchain network you are using to ensure you can receive tokens successfully.

What fees do I pay?

Defexa Wallet charges a 0.5% fee on every transaction. Additionally, you are required to pay network fees when you send cryptocurrency from your Defexa Wallet.

What is a network fee?

A network fee is a fee a blockchain network charges for processing a transaction. When you send cryptocurrency from your wallet to another wallet, the transaction must be verified and processed by the network of computers operating the blockchain. The process requires computational power and resources, and the network fee is charged to cover the cost of these resources.

The amount of the network fee can vary depending on several factors, including the current network congestion, transaction size, and the transaction's priority level. Generally, the higher the priority level of the transaction, the higher the network fee will be.

Network fees are paid in the same cryptocurrency being sent, and they go to the miners or validators who process the transaction on the network. These fees are an important incentive for miners and validators to participate in the network and maintain its security and integrity.

How are network fees calculated?

Network fees are calculated based on the amount of data required to process the transaction and the current network congestion. Network fees for cryptocurrency transactions are calculated based on many factors, including:

  1. Network congestion: The more congested the network, the higher the fees will be to ensure your transaction is processed quickly.
  2. Transaction size: The larger the transaction size (in bytes), the higher the fees will be to cover the cost of processing the larger amount of data.
  3. Gas price: For Ethereum and other blockchain networks that use a gas-based fee mechanism, the gas price determines the fees paid to miners or validators for processing the transaction.
  4. Priority level: Some wallets or exchanges may offer the option to choose a higher priority level for your transaction, which will result in higher fees and faster processing times.

In general, network fees are paid in the same cryptocurrency being sent, and they go to the miners or validators who process the transaction on the network. These fees are an important incentive for miners and validators to participate in the network and maintain its security and integrity. It's important to note that network fees can vary widely depending on the specific cryptocurrency and network you are using. You should always double-check the fees and rates before initiating a transaction.

How to use WalletConnect?

You can use WalletConnect to connect your Defexa Wallet to decentralized applications (DApps) on your desktop computer.

To use WalletConnect with Defexa Wallet, follow these steps:

  1. Open the Defexa Wallet app.
  2. Find the DApp you want to connect to and click on the WalletConnect icon.
  3. The WalletConnect QR code will appear on the screen.
  4. Open the WalletConnect app on your desktop or another device.
  5. Scan the QR code with the WalletConnect app.
  6. Once the connection is established, you can use the DApp directly from your Defexa Wallet.
  7. To disconnect, close the DApp or click the "Disconnect" button in the WalletConnect app.

WalletConnect allows you to interact with decentralized applications (DApps) on your desktop or other device using your Defexa Wallet. It is a secure and convenient way to use DApps without transferring your cryptocurrency to a separate wallet or exchange.

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