4 Most Useful Tools to Trade on DEX
As a decentralized application (Dapps), DEX such as ENEDEX can be used in conjunction with multiple other Dapps. Here are top 5 most useful tools that can support your activity in operating any DEX.
- Decentralized Wallet
Recommendation : Metamask
To operate any DEX, one will need to connect their digital asset to interact with the protocol. The only way to do this is trough decentralized wallet. There are multiple type of Decentralized wallet available on the market, such as Fortis, Ledger, and other. But the most popular one and one that we recommend as it has been integrated perfectly on ENEDEX protocol is Metamask.
Trough Metamask, one not only can seamlessly connect to any DEX, but it can also connect to multiple blockchains such as Avalanche, BSC, Eth and many other. Metamask also has a built in fiat on-ramp and decentralized exchange in it’s app. Present in chrome/brave plugins, web, android and ios app, Metamask is the go-to Web3 wallets of our choice
2. Decentralized Market Data
Recommendation : DEXTools
In CEX, the price actions can be seen trough the service provider’s app interface. But for DEX, it require a decentralized market data solution. There are multiple platform available for this purpose such as Poocoin, but we recommend to use DEXTools instead. DEXTools is a DApp for decentralized finance (DeFi) that offers one of the most complete sets of trading tools possible for decentralized exchange (DEX) users. The value of the platform lies in its diversity of functions, capacity to aggregate and scale quality data in real-time, and integrations with leading crypto projects
With DEXTools, it’s possible to manage, analyze in detail and execute trades from a single interface. The trading tools offered by DEXTools include advanced trading analytics, price notifications, a liquidity pool explorer and a trading pair explorer with live price data and charts that highlights trending cryptocurrencies. The liquidity pool explorer enables users to track liquidity movements and the creation of new pools on DEXs.
Recommendation : Snowtrace
ENEDEX is a multichain platform that enable trading trough multiple different blockchains trough ENEDEX Bridge from BSC to Avalanche and Ethereum. But ultimately the current Alpha built is on Avalanche blockchain due to it’s gas-less nature, speed and stability. Therefore to check any transaction, finding hashes and pretty much any operation that require blockchain data, our recommendation will be on Snowtrace.
Snowtrace is the native blockchain explorer from Avalanche. It is robust, modular and can be very reliable to use. Next time there is an issue with transactions on any Avalanche based DEX, grab your transaction hash from Snowtrace and ask for support from the admin.
4. Charting Tool
Recommendation : Tradingview
To trade smart, one also need to have a smart charting tool. Tradingview is hands down the best charting tool there is. With myriad of standard or custom made indicators, clean and easy to use app as well as integration to multiple markets not only crypto, one can have eagle eye view to pretty much most of the world’s market using tradingview.
These are the top 4 most useful tool that can support your DEX trading activity. Are we missing something? Let us know on ENEDEX channels below :
🐦Twitter : https://twitter.com/ENEDEX_HQ
🗣 Telegram : https://t.me/ENEDEX_Official
📖 Medium : https://medium.com/@enedex
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