Cryptocurrencies have taken the world by storm, and Ethereum (ETH) remains at the forefront of the digital currency revolution.
You may have heard that Ethereum has gone through an upgrade. And if you're like other trades, you might be wondering what this means for the future of Ethereum and its trading. In this article, we will explain why Demex is the best platform to trade Ethereum and other cryptocurrencies in general.
So if you're ready to buy cryptocurrency and start maximising your $ETH trading potential on Demex, read on!
An Introduction to Demex
Primed to be an all-in-one DeFi Hub, Demex is an innovative decentralized exchange (DEX) on the Cosmos ecosystem that offers a range of features for traders and enables traders to trade cryptocurrencies in a secure and user-friendly manner.
With its emphasis on low fees, swift and efficient trading, and a diverse range of trading options, Demex caters to traders of all levels. Its commitment to innovation and the best possible trading experience makes it an exciting platform to watch out for in the ever-changing cryptocurrency industry.
Combining Demex Orderbook + Liquidity Pool/Automated Market Makers (CLOB+LP/AMM) + Money Market system, and eventually Options as well, Demex is primed to be the most advanced decentralized trading protocol in existence.
The platform has a number of key features that set it apart from other decentralized exchanges:
- A user-friendly interface that makes it easy to navigate through the trading platform
- Central Limit Order Book: A order book that allows for high-frequency trading with low latency.
- Cross-chain Interoperability: The ability to trade assets across different blockchain networks, enabling a wider range of trading options.
- Stablecoin auto-conversion: The ability to automatically convert between different stablecoins, reducing the need for manual conversions.
- Low Trading Fees: Competitive fees for trading and transferring assets on the platform.
- Security: Strong security measures in place to protect user assets and prevent hacks.
- Access a wider range of trading pairs: Support for multiple cryptocurrencies from a plethora of blockchains.
Demex offers a diverse range of financial services to cater to everyone's needs:
- For traders: trade spot, futures, perpetual markets or borrow to short
- For yield farmers: lend assets or provide liquidity
The History of Ethereum
Ethereum is a decentralized, open-source blockchain with smart contract functionality that has become a pillar of blockchain, cryptocurrency, and decentralized finance since its inception. Ethereum was created by Vitalik Buterin who wanted to improve on the decentralized finance of Bitcoin and create an even more functional blockchain.
Think of Bitcoin as a basic calculator for financial transactions, and Ethereum as a smartphone with multiple applications. Furthermore, since its inception, it has shown significant growth, with a market capitalization of over $229 billion as of late April 2023.
However, the price of $ETH has been volatile over time, with highs of over $4,500 per coin in 2021. According to the CoinGecko 2023 Q1 Crypto Industry Report, $ETH was hovering around $1,800 in April 2023. Moreover, at the time of writing, the $ETH rallied by more than 50% in April 2023, primarily due to similar uptrends elsewhere in the cryptocurrency market.
Furthermore, as Ethereum researcher Vivek Raman noted, while it may have some short-term negative impact on the price of $ETH, the Shanghai upgrade will be highly bullish for $ETH, as it will attract more capital to staking and increase the network’s security.
Connecting your Wallet to Demex
Getting started with Demex is a breeze, even for those who are new to decentralized exchanges. You can easily connect your wallet, whether it's your ledger, Metamask, Leap, Keplr, or an Encrypted Key, to Demex and begin trading $ETH in no time!
To maximize your trading experience and minimise fees, we highly recommend connecting to Demex using Keplr, a free and user-friendly wallet, or MetaMask which offers low fees. With these options, you can easily connect to Demex and start trading without any hassle.
Depositing on Demex
Congratulations on successfully connecting your wallet to Demex! Now that you're set-up, the next step is to deposit funds onto the platform so you can start trading $ETH on Demex. And don't worry, the process is straightforward.
First things first, it's important to note that Demex is a decentralized cryptocurrency exchange powered by the Carbon Layer-2 network. This means that cryptocurrency tokens from Layer-1 chains, such as Ethereum, Zilliqa, and Neo, must first be deposited from their native chains onto the Carbon network to begin trading. But don't worry, it's a simple process.
To deposit tokens on Demex, you will need a small amount of SWTH for platform fees. You can obtain $SWTH from cryptocurrency exchanges like Binance, BitMax, or KuCoin. Once you have SWTH, follow these easy steps to deposit tokens on Demex:
- Navigate to the "Wallet" tab on the Demex trading interface and select "Deposit".
- Choose the token you want to deposit from the list of available tokens.
- Enter the amount you wish to deposit and confirm the transaction on your wallet.
- Wait for the transaction to be confirmed on the blockchain.
- Verify your blockchain transaction on CarbonScan.
- It's important to note that different networks may have different deposit and withdrawal fees, so be sure to check the fees before depositing your tokens. Additionally, ensure that you have sufficient funds in your wallet to cover the network fees and the required SWTH for platform trading fees.
But that's not all. Demex supports blockchain transactions made on a variety of networks, so make sure to find out more about the different networks Demex supports to ensure you can trade the cryptocurrency tokens that you're interested in.
Bridging Your Assets
Carbon allows trades to transfer their SWTH assets between supported chains on CarbonHub, which is a cross-chain dApp designed for any SWTH-related action.
This one-stop platform offers a more cohesive DeFi experience for trades, allowing them to send funds directly across the supported chains with only a single transaction required. CarbonHub expanded its list of supported chains to include Zilliqa, Neo Legacy, Neo N3, and Arbitrum, in addition to Ethereum and BNB Smart Chain.
This means that trades can now bridge SWTH tokens across more chains, making it easier for them to manage their assets across different platforms. CarbonHub offers a user-friendly interface that simplifies the process of cross-chain asset transfers, making it easier for trades to trade their cryptocurrencies without the need for intermediaries.
Overall, CarbonHub provides a seamless and efficient way for trades to manage their SWTH assets across multiple chains.
To find out more on how to bridge SWTH across chains on CarbonHub here.
Trade Spot and Perpetual Markets
Demex offers two types of markets for Ethereum: spot markets and perpetuals. Spot markets provide immediate settlement of trades between different cryptocurrency tokens, while perpetuals are derivatives built with smart contracts that allow traders to speculate on the future price of $ETH without owning it.
To start trading on Demex, you'll first need to deposit your tokens onto your wallet address on the trading platform itself. Don't worry, we've provided a detailed guide in the previous section to help you with this process. Once your tokens are deposited, it's time to jump straight into trading.
The user-friendly trading interface allows you to easily browse markets on Demex. You can either use the search tab to look for specific markets or browse markets using the quote tab. We offer a range of exciting markets for traders to trade, including ETH-PERP, SWTH/ETH and ETH/USD. Check them out and start trading today.
Trade Other Cryptocurrencies on Demex
Ethereum may be the most well-known cryptocurrency token, but there are many other digital assets and currencies that have emerged and gained popularity over the years. Here's a brief overview of some of the most prominent cryptocurrencies besides Ethereum that are currently on Demex:
- SWTH Token ($SWTH) is the native cryptocurrency and governance token of Carbon. As the native governance token of Carbon, SWTH exists on different chains to open up the protocol to other blockchain ecosystems, enabling liquidity from external networks to flow into Carbon's ecosystem. Users on Carbon can transfer their SWTH assets between supported chains on CarbonHub, which is a token-focused, one-stop, cross-chain dApp for any SWTH-related action.
While users can already bridge SWTH tokens to and fro Carbon and EVM chains (i.e. Ethereum and BNB Smart Chain), the list of supported chains have been expanded to include Zilliqa, Neo Legacy, Neo N3 and Arbitrum, bringing a more cohesive DeFi experience for our community.
- Blur Token ($BLUR) is a native governance token of Blur.io, which is a unique non-fungible token (NFT) marketplace and aggregator platform that offers advanced features such as real-time price feeds, portfolio management, and multi-marketplace NFT comparisons.
- ATOM ($ATOM) is the native governance token of the Cosmos Ecosystem, a decentralized blockchain platform that aims to enable interoperability between different blockchains.
These cryptocurrencies differ from Ethereum in various ways, such as their underlying technology, use cases, and transaction times.
While Ethereum remains the most well-known and widely used cryptocurrency, these other digital currencies have their own unique features and use cases that make them worth considering for investors and users of decentralized platforms alike.
To view our entire list of tokens and their token details, visit CarbonScan.
Begin Trading on Demex
As the world of cryptocurrency continues to evolve, Demex is at the forefront of this movement, offering a comprehensive suite of tools for trading, lending, borrowing, and providing liquidity on the most extensive decentralized platform ever.
By leveraging the power of the Carbon network, Demex enables fast and efficient trading while keeping fees low. With both spot markets and perpetuals, Demex offers a wide range of trading opportunities for traders to take advantage of the latest developments in the world of decentralized finance. Whether you're a beginner or a seasoned pro, Demex has everything you need to start trading with confidence. Get started today by connecting your wallet and trading with ease.
Definitely not financial advice but you should trade ETH on Demex!