How to buy $CAN on Binance DEX

As our followers know, the CanYa project is moving to the Binance ecosystem. We will be encouraging our community to buy/sell their $CAN tokens on the Binance DEX.

With our recent announcement of CanYa being a launch partner for BEPSwap and release of the CanYa DAO we thought it would be a good time to put together a guide on how to buy/sell $CAN on the Binance DEX.

Getting started on the Binance DEX and creating a wallet

The reason there is a little bit more involved with Binance DEX than other exchanges is that Binance DEX is non-custodial. That means you trade directly from your wallet. This greatly reduces the chance that the exchange can be hacked and your funds stolen. We believe DEXs are the future of cryptocurrency due to their security and privacy.

We released a thorough guide on how to get started back in May. You can find it here:

Setting up a Binance Chain wallet and exploring the DEX

You will need to have completed these steps to continue on with this guide.

Buying & Selling $CAN

Connect to your wallet on Binance DEX:

The above images are for unlocking your wallet via ‘Trust’ on mobile. There are other methods as per the guide above.

Once you are logged into the Binance DEX it will look similar to the image below. To see the $CAN market, search for CAN in the field over to the left of screen (indicated by the red arrow).

The Binance DEX UI/UX is designed to be very similar to normal ‘custodial’ exchanges

You will then be shown the market for $CAN (CAN/BNB in this case):

You can easily view statistics for $CAN trading in this tab

To make a buy or sell order simply fill in the trade details you desire in the fields on the bottom right of the screen:

Some points to note:

• The DEX will pre-fill the price with the current market price to avoid mistakes
• The DEX will also warn the buyer / seller if they place a buy/sell order outside of the current market price. This prevents users accidentally buying/selling at too high or low a price:

A helpful dialog box to prevent fat fingering incorrect buy/sell orders!

Once you do make an order you will be prompted to approve the transaction from your wallet. Once approved the order will appear in the ‘open orders’ field until it is filled:

An open buy order on the DEX

Once the order has been filled the funds ($CAN or $BNB depending on if you were buying or selling) will appear in your wallet. You can check this in the ‘Balances’ tab:

In Conclusion

With your $CAN you can now buy freelancing services on CanWork, stake and help the community on the DAO or hold it in a Binance Chain wallet.

Although liquidity is light on the Binance DEX, CanYa will be a launch partner for Thorchain’s BepSwap platform. We are confident that through this platform’s incentivised liquidity model $CAN will have enough liquidity to function as the oil that drives the CanYa ecosystem into the future.

As always, if you have any questions please don’t hesitate to contact the CanYa team below:

• Telegram Community: https://t.me/CanYaCommunity
• Telegram Announcements: https://t.me/canyacoin
• CanWork: https://www.canwork.io/
• Twitter: https://twitter.com/canyacoin
• Facebook: https://www.facebook.com/CanYaCoin/
• Medium: http://www.medium.com/CanYaCoin/