Liu Jie, a Chinese developer, created the platform MCDEX for decentralized exchange. Users can use this platform to trade bitcoins and Ethereum. MCDEX allows traders to have a seamless and efficient trading experience. The main purpose of MCDEX is to allow people to do business with each other directly without a middleman. MCDEX has been highly popular for perpetual swaps ever since its V3 release in 2020.
How to conduct Perpetual swap trades on MCDEX?
Contracts that do not have an expiry date are called perpetual swaps. The traders avoid any risk of holding cryptocurrency as they don’t own any assets. Perpetual swap contracts have two types. Firstly, the warranty created by MCDEX is called certified. Secondly, the arrangements that users make are called uncertified.
The steps you need to follow to conduct a perpetual swap are:
- Firstly, you need to access the MCDEX website. The homepage of the MCDEX will appear, and then you can select the app option to connect your wallet.
- Select the option called “connect your wallet.”
- Keep in mind that if you are using an iPhone, you need to use Wallet Connect.
- If you do not have a wallet app, MCDEX will suggest a few wallet applications. The available wallet apps are MetaMask, Ledger, Trezor, etc.
- Afterward, you need to choose your desired contract and contract type.
- Now you need to adjust your leverage according to your choice.
- Lastly, choose your desired position using market, limit, and stop order options.
How to purchase MCB tokens on MCDEX?
Firstly, you need to have a self-custody wallet. Self-custody wallet’s primary purpose is to store cryptocurrency. Once you choose your desired wallet, you need to create an account. Self-custody wallets will give you a recovery phrase key that has 12 words. The recovery key is required to access your stored cryptocurrency. It is crucial never to share your recovery key with anyone. Use the wallet to buy Ethereum, which must purchase MCB tokens. Afterward, you can now exchange the Ethereum for MCB tokens on the MCDEX app.Final Thoughts
Hopefully, you have a brief idea of how to conduct perpetual swaps and buy MCB tokens by now. MCDEX offers praiseworthy benefits to its users, which makes the investment worthwhile.