A Beginner's Guide: TRIBALDEX - How to Deposit and Withdraw Funds.

Making some sense of Tribaldex

Yesterday I wrote a post recounting my journey in the world of DeFi (decentralized finance). I had wanted to learn all about it for a while, and it's been quite the journey. There is A LOT to learn in this space, and to make it even more interesting, it's constantly evolving, so the things I learned are valuable, but yet have to be maintained to keep up with the fast changing world,

While I wrote my piece on DeFi, I realized I should put together, easy to read posts, breaking down what I had learned so far. I will make this into a series of Beginner's Guides that can help those of you who also want to take advantage of DeFi. I will not pretend to know everything, and I will probably not explain the mechanics of the platforms I'll be showing you. The purpose of these guides will be solely to teach you how to use them, and feel comfortable continuing onto your own journey. Think of it as a stepping stone into DeFi.

Remember, none of what I'm saying is to be taken as financial advice

In this guide we will only be looking at these couple things:

Deposits
Withdrawals

It took me a while to remember what to do, and have the confidence to trade HIVE into other tokens I could use on other blockchains. So I figured I'd make it easy, and show you how I did that using, Tribaldex. I researched how to do this one day when I finally decided to swap some rewards I had made here. I eventually exchanged HIVE into Ethereum through! I wanted to prove to myself it was possible... I had to repeat the process a few times to buy coins for some play2earn game, and I didn't want to use Coinbase.

Here's how you can deposit funds into your wallet on Tribaldex:

1 - Connect your Hive account to Tribaldex. You will have to set up a Hive KeyChain or login through SmartLock, but I've never used that one. I know that with KeyChain, you'll enter your username without the "@", just your username.

2 - Once logged in, you should see your username in the upper right corner of the page. Click on the wallet icon next to it, It will bring you to your wallet, which will have a list of all the tokens you own on Hive-Engine.

3 - Most likely, if you've been using your Hive account, you probably already have some coins listed here. If you don't, or if you're looking to deposit more SWAP.HIVE, click on the "DEPOSIT" button.

4 - A window will pop up in the middle of the screen, select a token by clicking in the box highlighted by the arrow. Assuming that you're coming from the Hive/Leo community, though there are other token you can deposit, let's stay focused on HIVE. Select "HIVE(HIVE)". Notice the 0.75% fee, and you should also read everything you see, especially when there's a warning window.

5 - _This next window is where you'll see your HIVE wallet balance. Like I said I wasn't going to discuss the mechanics because I'm not going to pretend I know how this works! In order to have "SWAP.HIVE" in your account you need to deposit HIVE. If you deposit 100 HIVE, you will get 99.25 SWAP.HIVE. You have to remember the fee!, Now click on "Deposit HIVE"

6 - If you're using HiveKeychain for permissions, you'll have this next window pop up. What happens is that essentially, you're letting TribalDex send hive to @honey-swap in exchange for swap.hive. Click on "CONFIRM" to accept the trade. In the case you're using SmartLock, the action you need to take are probably similar, but don't quote me on that, I've never used it!

7 - After confirmation you will get the next widow from KeyChain letting you know you successfully transferred HIVE to @honey-swap. You can go ahead and click OK, you're done! What I like to do next is looking at the history to see if I really got my SWAP.HIVE. Go back to your wallet balance find the SWAP.HIVE and click on the history button.

On this page you can see the latest history, @honey-swap sent you SWAP-HIVE.

Withdrawing from TribalDex

1 -Go back to your wallet, click on Withdraw.

2 -The confusing thing here is the choices of token you have to withdraw. If you want to send Bitcoin or Ethereum other wallets, well first you'll need to trade SWAP.HIVE for SWAP.BTC or SWAP.ETH in the exchange, but then (back on the withdraw window) you'd select "BITCOIN (BTC)" or "Ethereum (ETH).

3 -Once selected. put in the amount you'd wish to send, under "Withdrawal Amount".

4 -Next is copying the wallet address you want to send these tokens to. Make sure you have the right address, as almost always funds can get lost and cannot be recovered.

If you are sending (withdrawing from your Hive-Engine wallet) to a Bitcoin wallet, make absolutely sure it is a bitcoin address, and the same goes for any tokens for that matter, make sure you're sending them to their respective blockchains.

5 -You will have to confirm the action once again through KeyChain, or SmartLock, and once you receive a confirmation of having successfully transferred your tokens, you've done it!

IF YOU'VE GONE THIS FAR AND WERE ABLE TO DEPOSIT HIVE INTO TRIBALDEX FOR THE FIRST TIME, WE'RE BOTH WINNERS!!!! IF YOU'VE GONE ON TO ECHANGING YOUR HARD EARNED HIVE INTO BITCOIN, AND SENT IT OUT ONTO A HARD WALLET OR SOME KIND ON OTHER WALLET WHERE YOU OWN YOUR KEYS, CONGRATULATIONS, AND I REALLY HOPE THIS POST HAS HELP YOU!!!

ALL I REALLY WANT WITH THIS SERIES OF "BEGINNER'S GUIDES" IS TO HELP OTHERS, EVEN IF ONLY ONE PERSON TELLS ME IT HELP AFTER SOME TIME, I WILL BE HAPPY... GOOD LUCK OUT THERE AND KEEP ON LEARNING, 'TIS A GREAT TIME TO GROW WEALTH!!!

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