LATEST UPDATE!!! Mastering DeFi Trading: The Quick and Complete DEXTools Tutorial for 2024 📈 🚀
https://www.youtube.com/watch?v=UHfteIKUJfA
Transcript:
Hello everyone and welcome to DexTools Academy. DexTools is the leading trading platform that helps people trading in decentralized finance. It gathers real-time price information and market trends from different places into one easy-to-use website, helping traders make better decisions. In this video, I’ll give you a short overview of DeFi and show you how to use DexTools along with the simple tools that all the expert traders use.
Feel free to use the timestamps in the YouTube version of this video to navigate between different sections at your convenience. DeFi stands for decentralized finance. It’s like regular banking and finance, but online and without any big banks or companies in control. Instead of using a bank, people use computer programs on the internet to lend, borrow, and save money, trade cryptocurrencies, and more.
It’s built to be open to anyone and operates 24×7. A blockchain is like a digital notebook that keeps track of all transactions on many computers. Unlike a bank where data is stored in one place, blockchain’s spread-out nature makes it tough for anyone to tamper with old information, increasing the safety of your data.
There are many blockchains like Bitcoin, Ethereum, Solana and more, each with its own set of rules and uses. Dextools connects with over 70 blockchains and it keeps updating every day to include more. To trade on Dextools, you’ll need funds in your personal self-custodial wallet like Metamask, Trust Wallet or Phantom Wallet. Or you can use a trading bot, which we discuss in another video on our YouTube channel, funds in your personal self-custodial wallet like metamask trust wallet or phantom wallet
or you can use a trading bot which we discuss in another video on our youtube channel where we talk about the pros and cons of telegram trading bots you can use dex tools without connecting your wallet but to utilize dex tools to its fullest potential including accessing all its features you’ll need to begin by connecting your wallet to the web application.
You don’t need to hold tokens, just connect your wallet and you’re good to go. You can do this by simply clicking the blue connect button in the top right corner. Then select connect and choose the wallet you wish to link with the app. Next, click verify in step two and sign the message in your wallet, ensuring you’ve entered the correct website and signed the message from Dextools.io.
And here you go! Welcome to your user account! You’re now connected to Dextools and can use all the features listed here. Here are direct links for connecting with other traders on Telegram and receiving assistance from our support team for free, categorized by each holder’s tier. If you hold 1000 Dext in your wallet, you’ll gain access to the standard version and our private DEXForce Traders group on Telegram.
Feel free to join! Now let’s move on to Dextool’s core features. On the left side of the application, you’ll see the menu. The first icon leads you to the DEX board. In the header, you can switch between over 70 integrated blockchains. Recently integrated chains are easily identifiable by the addition of a new tag.
Okay, now let’s switch to Solana as an example, and you’ll notice the Dexport switches to display Solana only. You can check the price of the native token of the selected chain here. By clicking on it, you’ll be directed straight to the chart of the main pair. Additionally, Ethereum has a unique feature where you can check the current gas price in Gui that you’re always on top of what you have to pay for transacting.
At the top of the page, you will find links to news and articles as well as featured new videos from our DexTools Academy. DexTools features numerous integrated Dex’s pools and tokens. On the Dex board, you get an overview of today’s trending tokens. Daily Gainers and Daily Losers, recently updated tokens that applied for updating their social info via FastTrack and upcoming crypto events here.
The Hot Pairs are trending tokens on DexTools. These tokens are featured here based on a combination of factors, including high volume, actions with the token pair on the Dexxtools platform, trading volume with the aggregator if available for this pair, and other undisclosed metrics. Just below the Hot Pairs section, you’ll find the Pair Explorer, which is a bit hidden, but a real gem finder.
You can use custom filters to search for tokens based on your preferences. Feel free to experiment with it. This feature is really awesome. Another hidden treasure is the recently updated section here. Tokens like Pandora, PayPal or Trump Maga, which have seen incredible gains, have been featured here on their launch day.
But remember, you always need to do your own research as anyone can launch a token on the blockchain and it’s very easy to get scammed. Keep an eye on liquidity and token unlocks as they are an important feature to monitor because once they are unlocked, these tokens can be sold. You can use the search bar at the top of the page to find any token that has liquidity provided and is actively traded.
Once the token per page is created, the token can be found. You can search for tokens by entering a contract address, the pair address of a token pair, or the ticker. However, it’s important to note that using tickers can sometimes lead to confusion because tickers are not unique, whereas token contracts and token pair addresses are unique. Now let’s head over to the Pair Explorer.
This is the most crucial page where you can watch and analyze the chart of the token you are interested in and execute your trades. The dynamic section at the top is the Hot Pair section, as displayed on the Dex board. You can also switch it to view recently updated tokens. Click here to share the token pair page or obtain the HTML code for the iframe element to embed the chart or the aggregator onto a token’s website.
In this section, you’ll find the token’s details like the website, Telegram, or Twitter links. The TradingView chart provides you with the same features as TradingView itself. You can switch between different timeframes, utilize indicators, or draw your personal technical analysis using the available tools.
Directly beneath the chart, you’ll notice the trading history, which shows all trades made on this pair in real time. Utilizing the Mempool features, you can also observe trades that haven’t been confirmed on the blockchain yet. This feature enables you to anticipate trades and potentially enhance profits.
The maker column shows the wallet addresses of the users who initiated the trades. To save and name these wallets, click on the addresses and then click on the small wallet icon. You can then type in a name of your choice for this wallet. Once named, the tag will display in the trading history as soon as this wallet makes a trade.
Additionally, you can view the buy and sell points of the wallet on the chart by clicking on this icon. You can even filter the trades of a wallet to check the profitability of a specific trader. My favorite feature is this small plus button here. After making a trade, just click on this button and select save to add your position. You will then find your trade in this tab where you can easily check if you’re in gains or in losses as well as the percentage profit made in both dollar and Ethereum terms.
Never lose track of your portfolio anymore and check your trades wherever you are. With price alerts, you’ll never miss a price goal again as you can receive alerts via email or telegram directly to your phone. In the My Swaps tab, you can view all the trades you’ve made with a wallet associated with your user account.
On the left, you’ll find DexSwap, where you can effortlessly swap your tokens while monitoring the life chart. The Pool Info section displays essential data like the contract address and the pair address of the token. You can explore other pairs by clicking on the binoculars icon. Additionally, you’ll find details like the market cap, liquidity, and other important information about the token.
The buy and sell pressure visualized here and below that you’ll find the DEX score. The DEX score is determined by factors like Pair Activity, Pool Liquidity, Contract Safety, Community and Social Media Presence. This section shows token contract audits from external audit companies. You can access the detailed audit results by clicking on the audit button here. Additionally, you can review each result on the website of the auditors by clicking on their logos.
Cast your vote for your token here to boost community trust and aid in downvoting scam tokens. In the top right corner next to the Dextools logo, which I’ll explain more about later on, you can toggle your personal favorite section to appear or disappear as you wish by clicking the little star icon.
You can add a token by simply clicking on the star next to the token name. Manage your favorites here, create new lists, pin your most important ones, and filter your tokens by chain. To customize your layout, click here and select your preferred design. In the app section, you will have the option to configure additional features.
For instance, you can normalize the chart if, for example, a frontrun bot has significantly impacted the chart with a large candle. Before proceeding to the next sections, if you’re not yet comfortable with using real money and wish to learn trading, you can activate the Trading Simulator. This feature allows you to buy and sell tokens, providing a simulated trading experience that mimics real trading without the need to use real money.
In the Live New Pairs section, you’ll find all recently created pools and can monitor any liquidity movements, whether liquidity has been added or removed. And remember, as always, don’t forget to do your own research. In the BigSwap Explorer, you can explore trades by size and see where smart money is moving into.
Monitor what the whales are trading and adjust your own strategies to it. The Multi-Chart section allows you to watch various charts at the same time without switching between tabs. The Multi-Swap feature is designed for power traders. Here you can prepare your swaps for selling multiple tokens at the same time or simply assess the price impact for various tokens simultaneously.
In DexStats, you can check out the trending tokens on specific DEXs. WalletInfo is the place where you can monitor and manage your saved wallets. Once you’ve saved them, these wallets will appear in the trading history labeled with their respective names. In the products menu, you’ll discover links to various Dextools bots such as the BuyBot, PriceBot, or the NewPairsBot.
You’ll also find links to the iOS or Android app, the API for developers, and more. Dextools provides a deflationary utility token for accessing extra features on the platform. You can check out the various tiers on the login page or visit the official Dextools website. There you’ll also find details about the Dextools team and can explore the academy section, which includes the FAQ and a glossary explaining all crypto terms.
The burn dashboard offers detailed insights into Dextools buyback and burn system, which is explained in another video on our Dextools Academy YouTube channel. By the way, if you have downloaded the Dextools mobile app, you can simply connect your account by clicking here on Link Device and follow the steps.
All your saved data will be automatically available on your mobile phone so that you have constant access to your information no matter where you are. That was a detailed overview of the Dextools platform. Each feature mentioned in this video has its own detailed tutorial on our YouTube channel. In the second part of this video, I’ll discuss the user area, which is designed for managing your portfolio, tracking all your trades, and monitoring your gains or losses.
Now you’ve learned about all the features of the Dextools platform and its functionalities. Dextools continues to evolve permanently and introduces new features every day.
