Launched in March 2019, Binance Dex is a decentralized exchange by Binance that runs on its native blockchain known as Binance chain. The base trading pairs available on it are BNB (Binance Coin), BTCB (Bitcoin) and USD.
In this article, I will be going through different screens of Binance DEX to help you guys understand how to deposit, withdraw and send tokens from your wallet? how to trade on Binance DEX using AWC? and how to create an account?
If you are not familiar with AWC (Atomic Wallet Coin) then let me remind you that it is a utility token of Atomic Wallet. There are two kinds of AWC available in the market, the first one is an ERC-20 token and is being traded on IDEX. The second one is a Binance chain based token also known as AWC and is being traded on Binance Dex.
How to use Binance DEX?
Open your browser and on the search bar enter Binance.org. You will see the displayed below homepage screen.
Click on Create Wallet and the next screen that you will see is displayed below.
Click on Continue to create a Keystore file and set up a new password. The next screen that you will see is displayed below.
In the above screen set a new password (remember password should have 8 characters, an upper case letter, symbol, and a number). Click on the checkbox for terms and conditions first and then click on Download Keystore File.
After the download is completed click on Confirm to view and keep a backup of the 24 mnemonic phrases. Back up the phrases by writing it down on a piece of paper (do not use copy and paste). After you have written down the phrases click on View my Private key and create a backup of your private key by writing it down on a piece of paper (do not use copy and paste). Click Continue to go to the next screen.
In this screen, you need to verify that you have created the correct backup of your mnemonic phrases by entering them manually into the boxes as shown in the image below. If you have entered the correct phrases the continue button will be highlighted in yellow. Click on continue.
The next screen is to Unlock your Wallet. Select Keystore File and then upload it, enter the password that you had created in Step 4 then click on Unlock your Wallet now. As shown in the image below.
After you have unlocked your wallet you will see the exchange screen of Binance DEX. On the top right side, you need to select BNB then in the search box enter AWC and below it click on the pair AWC/BNB to open the trading screen of Atomic Wallet Coin as shown in the image below.
To deposit Atomic Wallet coin or BNB you have to click on Balances, which is at the top and then copy the address mentioned in front of balance as shown in the image below.
To send your Atomic Wallet Coin back to your Atomic Wallet. Enter AWC on the search bar and click on the send button on the AWC-986 asset name. In the pop-up screen enter the AWC address, enter the amount you want to send and then click on next to complete the process.
Remember in order to send AWC from your Atomic wallet, you need to have BNB in your wallet to pay the transaction fee.
How to send tokens from Atomic Wallet?
Unlock your wallet by entering your wallet password.
Search AWC on the search bar then select the yellow logo as shown in the image below.
Click on Send then enter the deposit address, if required enter Memo details (certain exchanges will provide you with that information). Enter the amount that you want to send in the empty fields as shown in the image below and then click on Send. You need to have BNB in your wallet in order to pay the transaction fee.
Wait for a few seconds for your AWC token will be credited into your Binance DEX wallet.
How to trade?
Check out this video created by the Atomic Wallet team on How to trade Atomic Wallet Coin on Binance DEX?. You can also download the latest version of the Atomic wallet by visiting Atomicwallet.io. Do join there Telegram channel for instant technical support and also follow them on Twitter for recent updates.
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In the end, I would like to thank you for reading this article on How to Trade on Binance DEX with Atomic Wallet Coin? I have written this article based on the experience that I had when I sold a few AWC tokens on Binance DEX. I had so much confusion in the beginning as there were very few resources on the web available on how to trade on Binance DEX? and how to use it?
This article is not meant for those who know how to trade on any exchange?, I meant the PROS. This article is written for those who are a newbie, small investor, and long term HODLers who occasionally use an exchange for trading either to buy or sell their assets. Using a new DEX like Binace DEX might create problems. If required, I would update this article in case if there is any change.
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