How To Use IDEX Exchange?
IDEX, a cryptocurrency exchange, offers a unique hybrid of centralized exchange's user interface and decentralized exchange's security. IDEX offers its users a secure peer-to-peer (P2P) trading platform that uses smart contracts. Launched in 2012, IDEX has evolved as an upgraded decentralized exchange built on the Ethereum blockchain, supporting Ethereum and trading ERC20 token pairs.
The platform leverages smart contracts used for communicating transactions to this Ethereum blockchain. This also allows users to book their orders and update account balances in real-time.
Connecting Your IDEX Exchange Account To ZenLedger
- To import your transactions, log in to IDEX and copy your receiving address.
- Paste the receiving address you copied from IDEX Exchange into the wallet address field in ZenLedger.
- Select the proper coin from the dropdown list.
- Select if the wallet is based in the USA or not.
- Then hit add coin.
How To Generate IDEX Exchange Crypto Tax Forms?
After you’ve connected your IDEX account, completed your import, and confirmed that your transaction information and tax liabilities are correct, simply click to download your forms!
How To Buy IDEX Exchange
1. No Registration
Unlike other exchanges, there is no registration required in the IDEX exchange. You can access the platform by creating a wallet for IDEX exchange.
2. Set Up Wallet
IDEX offers its new members to create an online wallet, which can be used to access the platform. The password and the private key of your wallet must be saved properly, or else you'll be unable to recover your tokens. This wallet can be accessed on the navigation bar of the platform.
Apart from IDEX's own wallet, you can also choose between Ledger Nano S wallet or MetaMask. There is no additional charge for using the MetaMask wallet, and it can be accessed as a Google or Firefox plugin. You can unlock the MetaMask wallet by copying the MetaMask private key and pasting the private key in the unlock wallet section.
For accessing the wallet's keystroke, you can follow the steps given below:
- Click “Select Wallet File”
- Locate the wallet Keystore file
- Enter your password.
- Finally, click "Unlock"
You can also unlock your wallet in the following ways as well:
- Key file
- Private key
- Purse ledger
You can now deposit tokens and start trading.
3. Buy And Sell Tokens
Once you've set up your wallet, you can now access your tokens. Firstly, set the maximum and minimum limit of your order and place the order. The order status will change from 'pending' to 'processing'. When your mines are successfully mined, you can start trade on IDEX.
What Are The Key Features Of IDEX Exchange?
The IDEX exchange allows buying of crypto using Ethereum. Thus, it is necessary to own a certain number of Ether coins that reflect in your wallet before you start trading on the exchange.
The key features in the IDEX exchange are:
- Access a wide variety of tokens
- User-friendly interface
- Maker taker fee system
- Security benefits
- IDEX 2.0 brings in a 2 layer scaling solution
- Integration of Ledger Nano S and MetaMask wallets
The Bottom Line: Why Choose IDEX Exchange?
IDEX exchange will be the perfect choice for you if you want a polished user interface and off-chain trading of centralized exchanges without having to jeopardize the security. It is a combination of the efficiency and speed of a centralized trading ecosystem and the strong security of a decentralized one.