How to Buy SwapDEX Crypto (SDXB)
What is SwapDEX Crypto?
According to Coingecko, SwapDEX is : SwapDEX consists of a leading network called SmartDEX-Network and a research chain called Kusari-Network, forming the initial seed of an open, decentralized, and independent DeFi platform. This platform aims to become the industry-wide standard for decentralized finance. The SmartDEX-Network is maintained by validators selected through a Nominated Proof-of-Stake (NPoS) consensus design. The validators are responsible for block production and chain finality. Rewards are given out when validators behave correctly, and any misbehavior is punished via a slashing mechanism. Furthermore, SwapDEX has a decentralized, community-run governance scheme that can change any SwapDEX design or parameter decision through formal consensus. Governance council members are required to be elected by holders of the relevant coin (SDX for SwapDEX, KSI for Kusari) with proposals requiring majority approval from council members to be implemented. Unlike other projects, SwapDEX keeps validator selection completely independent from governance and the user’s right to participate in governance is never delegated. NPoS is a Proof-of-Stake (PoS) variant that substitutes Nakamoto's consensus protocol's highly inefficient Proof-of-Work (PoW) design with a Proof-of-Stake (PoS) architecture. SwapDEX utilizes NPoS to advance chain security, enable a fair representation and satisfaction of users, and boost efficiency. Networks following a similar path include Polkadot, Kusama, Chainlink, Moonbeam, to name a few. While similar in spirit, the approaches in these networks vary in design choices, such as the incentive structure, the number of validators elected, and the election rule used to select them. In the SwapDEX ecosystem, we focus on fully decentralized finance. Therefore, every SDX holder is free to become a validator candidate or a nominator to maintain the blockchain. Validators participate in the consensus mechanism by producing blocks and validating blocks constructed by other validators. Nominators vote for validator candidates they trust and back them with their coins. Once per era (a certain period), a committee of validators gets elected according to the current nominator's preference. In SwapDEX, the number of validators elected is in the order of hundreds and potentially thousands. Both validators and nominators lock their coins as collateral and receive staking rewards on a pro-rata basis, but may also be slashed and lose their collateral in case backed validators show malicious or negligent behavior. Nominators thus participate indirectly in the consensus protocol with an economic incentive to pay close attention to the evolving set of validator candidates and make sure that only the most capable and trustworthy among them get elected.
Where can I buy SDXB Crypto?
You can buy SwapDEX on PancakeSwap.
Why should you buy SwapDEX?
Binance Smart Chain has been gaining a lot of traction lately. The main motivation for this is the very low fees that it offers. Ethereum gas fees are way beyond acceptable. I've seen transaction fees of 100$+ in Uniswap, and nobody wants to pay that. Ethereum 2.0 has been in the works for years now, and there is still no solution for these absurd gas fees on the Ethereum Network.
SwapDEX is amongst the best projects on BSC.The roadmap is incredibly promising and if the dev team can keep up with the with it, it's only a matter of time for the market to catch up. It's a very risky play but one that can yield amazing profits. Do you own diligence and research the project further so you can make your own decision.
How to Buy SwapDEX Crypto?
Step 1 - Setting up a Metamask Wallet
Metamask is by far the most used walled in the world of Ethereum. Whenever you want to buy and sell cryptocurrencies or even use blockchain apps that run on the Ethereum Network, Metamask will be your best friend. Setting up the wallet is also very simple and easy.
Head over to metamask.io and click Download. You'll need to use Google Chrome, Brave Browser, Firefox, or Microsoft Edge for this to work. So make sure you are using one of these four browsers. Now at the end of the page, click on the browser you're using and install the extension.
You are now the Welcome Page of Metamask. Click on 'Get Started.' Now click on 'Create a Wallet.' Choose a strong password for your Metamask wallet and continue.
Very Important Part! Keeping your backup phrase safe is the difference between having millions in your account or be that guy on the landfill looking for his old hard drive.
Click on reveal your backup phrase and write every word down on paper. Make sure you don't save your backup phrase on anything digital. This is for your security. After you wrote down your backup phrase, you'll be asked to confirm it. Click on every word in the correct order, and you should be done.
Now since we are using the Binance Smart Chain, we'll need to add the Network. I'll go over this very quickly. If you need a more in-depth tutorial for this part, you can check out Binance's tutorial right here.
Click on the upper right corner where you see the image and then click Settings. Select Networks and click on Add Network.
Fill out the boxes with this info:
Network Name: Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
ChainID: 56
Symbol: BNB
Block Explorer URL: https://bscscan.com
Click Save, and now you have Binance Smart Chain installed on your Metamask.
Step 2 - Buy BNB on Simpleswap
Simpleswap is the easiest way to buy crypto today. Free from registrations, KYC and third-party custody. With Simpleswap we can buy BNB and receive it directly on our on-chain Metamask wallet, skipping most of the steps we'd have to take through a traditional exchange.
Click here to access Simpleswap
Just click the Buy/Sell Crypto tab, insert the USD amount you want to trade for BNB, and click "Exchange", just like this:
Now all you have to do is click the Metamask fox logo to directly copy and paste your Metamask BNB address. It should add it automatically.
You can now choose between Google Pay or card to complete the payment:
Once you complete the payment, all you gotta do is wait a few minutes for the payment confirmation, and for the on-chain transaction to complete. Once all that is completed you should see your updated balance in Metamask.
Step 3 - Buy SwapDEX on PancakeSwap with BNB
Before we head over to PancakeSwap, we need to prepare your Metamask Wallet to receive SDXB. Open Metamask, scroll all the way down, and click here:
Select Custom Token and paste this token contract address there:
0xa4d92138537bb0bbeaeab095381be422d785e7c4
The rest should autofill, and you need to click next and then add tokens. Your account is now ready to receive SDXB.
You can check the price of SwapDEX, and confirm the Token Contract address on Coingecko.
Let's buy some SDXB!
Go to Pancakeswap. On the upper right corner, click on Connect Wallet and select Metamask. A confirmation popup should open on Metamask (click on the "little fox logo" if you don't see it). Now you need to accept, connect, and your wallet should be connected to Pancakeswap.
Click on Select Token and paste this contract address: 0xa4d92138537bb0bbeaeab095381be422d785e7c4
Select it.
Now you have to select the amount of BNB you want to trade for SDXB. After you confirm it, another popup will appear from the Metamask extension and you should approve the transaction.
Wait a few minutes, and your SDXB should appear on your Metamask Wallet.
Congratulations! You are now a proud Investor of SwapDEX!
In case your transactions keep on failing, adjust your slippage tolerance. To do that, click on Pancakeswap's gear icon, and put 5% here:
Check out SwapDEX links:
