Features of IDEX Singapore
- Functionality – the IDEX platform comes with an easy-to-use interface integrated with features like trading view charts and encrypted wallets, offering a prompt and rich trading experience. It uses an off-chain trading engine operating with an Ethereum smart contract which helps to mages the user trading experience, settlements, and much more.
- Trading options – IDEX offers a wide range of trading options to customers as soon as they have funds on the exchange. The IDEX platform also allows users to create market or limit orders and gas-free cancels.
- Technology – one of the best advantages of using the IDEX decentralized exchanges is the integration of a hardware wallet that prevents customers from risks cyber attacks and malware. Additionally, whenever a user signs off a transaction, this combination of technology allows the exchange to broadcast transactions to the Ethereum network for updating balance in accounts and order books in real-time.
- Security ¬ IDEX uses a comprehensive approach to security where all assets on the platform and the executed trade settlements are authorized by the customer’s private keys. Additionally, the platform has implemented a private encryption key that allows users to trade through MetaMask and Ledger Nano S wallets.
How to create a wallet on IDEX Singapore?
Step 1: Go to the official website of IDEX, and click on the “New Wallet” or “Unlock Wallet” button.
Step 2: Unlocking a wallet
Here, IDEX offers you four options to unlock a wallet on the exchange:
i) Keystore File: a customer can upload the private key via a Keystore file that is already possessed by the customer
ii) Private Key: here, you have to enter the private key to access an Ethereum address created
iii) Metamask: with this option, you can log into the MetaMask wallet and integrate it with the exchange.
iv) Ledger Wallet: this allows you to use Ledger Nano S wallet on the exchange to make direct transfers.
Step 3: Creating a new wallet
After selecting the wallet file, you’ll be redirected to a prompt for creating a password.
Once you enter the password, IDEX will generate a private key and produce a downloadable JSON File. After this, you can download the file and save it for your future references.
How to connect your private key/Keystore on IDEX Singapore?
Follow the below steps to connect your wallet with a private key or Keystore file on IDEX:
- Log in to your IDEX account, and click on the “Unlock Wallet” button present in the upper right-hand corner of the page.
- Next, you have to choose the “Keystore File” or “Private Key” option.
- Now, click on the “Select Wallet File” tab and locate the Keystore file. Once your Keystore file is located, enter your password and click on the “Unlock” button.
- Here, you have to enter or paste your private key into the text field and click on “Unlock”.
After completing the above process, you can deposit tokens and start trading.