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Into the world of Newdex via Leafwallet

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@otemzi
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Cryptowisser

Newdex is a decentralized exchange built on the EOS network that allows EOS based account to easily trade tokens on the go without the formal need of creating a centralized account, uploading KYC, and others. Although, this is not possible without a decentralized medium to convey it.

What is Decentralization?

Decentralization most time is confused to be privacy and money-making come month-end. Well, definitions are usually drawn from somewhere and I think these definitions were drawn from the fact that decentralization is most times linked to Blockchain and Crypto.

Decentralization in general have to do with giving power back to the people, the consumers, the users, you mention it. A system that is not governed or base on a single individual say but rather we all have a say and decisions are built from this collective informations.

Built on the EOS blockchain, Newdex simply uses the informations already available in the Blockchain to operate and this is achieved when a supported web3 based wallet is used in accessing its page thereby skipping the need for one to create a centralized account.

The crypto community keeps growing at an incredible rate and the need to constantly develop platforms that easily cater to consumer's needs is highly important, putting this into consideration, LeafWallet was born, a lightweight extension that allows users to easily access various types of EOS based DApps.

LeafWallet is an easy to use EOS based wallet that works as a browser extension. What this means is that it does not require large chunks of files, hours of waiting for installations to complete but rather a simple click and boom you are already online.

It acts as web3 based wallet and as such it provides easy access and simple management of DApps built on the EOS blockchain or rather platform that requires EOS based wallet to fully operate.

Steps to install LeafWallet

As a Google Chrome extension, it requires a chrome browser that allows the installation of extensions in order to work.

  • Goto https://www.leafwallet.io/ via a supported Chrome browser

  • Click on Download Chrome extensions

  • A new tab comes up, simply click on Add to chrome and follow the onscreen instructions to add

If successfully installed, a leaf-like icon will be available on your chrome browser as shown in the screenshot below.

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Features of LeafWallet

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Like most EOS based wallet, LeafWallet comes with features that allow smooth sailing of the EOS network, features like

  • Easy importation of account via Private key

  • Easy navigation of asset page

  • Resource management

  • Easy access to various types of EOS based DApps

  • Easy customization of wallet which includes nodes swapping, language customization, keys editing, app whitelist privilege, and more.

Why use LeafWallet?

Wallets, in general, are designed to meet a specific audience, to satisfy the wants of many, and to avoid repetition of pre-existing ones.

With that in mind, LeafWallet provides a clean interface with an extension size of not greater than 3mb file in which any user can easily import to their Google Chrome browser without any tech know-how.

For easy access, it also allows Google sync to different devices owned by that user.

My suggestions

LeafWallet is rather new and certain features are yet to be implemented, features like

  • Account creation or a direct link to creating one, the wallet is of no use if a user can't create an account, LeafWallet can implement a new option that allows user to create an account on the EOS Blockchain, it mustn't be directly on the app but rather a 3rd party account creation platform

  • Support of more language

  • Lockdown timer if PC is on idle mode

The wallet is rather new, so it is expected to have such features yet to be implemented

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Getting Started

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We have discussed features and ways to install LeafWallet, let's take a quick look on steps to use the DApp feature of LeafWallet

For this aspect, we are going to make use of Newdex

To access the Dapp feature, simply click on Application, and a list of supported DApp is shown to you.

  • Click on Newdex and a new tab opens up via your chrome browser

  • From the top-right menu, locate Sign In option and click on it. As a first time user, you are going to receive a welcome message explaining little details about Newdex, click I understand to continue

  • It automatically shows a list of the supported wallet as displayed via the screenshot below

  • Click on Sign In to bring up the login option, LeafWallet automatically comes up

  • Click on login to confirm and if successful, your EOS account should be logged in and ready to start trading.

Making your first trade via Newdex

Tokens listed on Newdex are mainly EOS based well this is for Newdex EOS as options to trade Tron based tokens are available on Newdex Tron.

Over the years, Newdex has implemented features which goes beyond exchanging tokens for another but also instant swap of tokens without the need to set price or what have you but for the benefit of old and new users who might be in a situation to trade a token which is not yet listed on swap let's make a trade.

  • From top left menu, click on exchange and click trading from the drop-down menu

  • A new page comes up like the below screenshot

  • The current page is showing PEOS/EOS pair but this can be easily changed

  • As shown in the screenshot below, you can easily search for an EOS based token and if it is currently trading on Newdex, a result comes up alongside it pair(s)

  • Click on the result and the page instantly reloads to bring the new trade option

  • Scroll down until the trade option comes up and set your price as you would do in any exchange platform

  • You have a Buy and Sell option, depending on what you are selling or buying, fill the tabs appropriately

  • Complete the order by clicking on buy or sell.

Well that is all for today, please leave a comment behind for any question you might have about the above

Until next time stay safe and mask-on