In order to swap assets (BTC, BNB) for NEXO Tokens on the Binance DEX exchange, users need to register a wallet and connect it with the Binance Decentralized Exchange. In this article, you will find a step-by-step guide about how to set your wallet and transfer NEXO efficiently and cheaply across the BEP2 network.
Step 1 & 2: Open your wallet by going to binance.org and clicking on ‘Wallet’ as shown on the screenshot below:
Step 3: You will need to select the browser you are using or are planning to use:
Step 4: Download and install the extension to your browser:
Step 5: Open the Binance extension and Create Wallet:
Step 6: Create a Strong Password for your wallet:
Step 7: Seed Phrases*:
IMPORTANT: type the seed phrases in the order presented on a piece of paper and store this information in a safe place - the seed phrase is presented only once and it is the only way to recover access to your wallet!
Step 8: Finding and Adding the NEXO Token into your wallet*:
Inputting NEXO Token now will allow you to withdraw it to your Nexo account after the exchange on the DEX. You can always leave this step for later.
Step 9: Accessing the Binance DEX exchange:
Step 10: Sync/connect your newly created wallet with the Exchange:
Step 11: Select the Binance Wallet and it will automatically obtain the newly created wallet:
Step 12 & 13: All setup is done. Your wallet is created and connected with the decentralized exchange. You should see the wallet on the top right corner of the platform. From here we proceed with executing the trade for NEXO Tokens. In our example we will swap BNB (Binance Coin) for NEXO (NEXO Tokens):
Step 14 & 15: Properties and how to set the order. Please bear in mind that you may only set ‘Limit Orders’. This means that a counter-party needs to find your rate favorable and swap against your offered rate. You may either type the amount of BNB you wish to swap or use the 25%,50%,75%, or 100% scaler to exchange your BNB for NEXO Tokens.
Upon clicking on ‘Buy NEXO’ you will have a pop-up window where you need to click ‘Confirm’ to set the position (please see the second screenshot):