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How to Buy and Stake $SWTH on Demex via MetaMask Wallet

DeFi product infrastructure continues to evolve; new crypto projects are emerging that make it easier to access decentralized financial services such as staking, pharming, and liquidity mining. Last year, the Switcheo blockchain project introduced its own DEX exchange Demex on the NEO platform, which allows exchanging cryptocurrencies without intermediaries using smart contracts.

In this guide, we will show you how to buy $SWTH tokens using Demex exchange and stake them with the help of MetaMask wallet.

Step 1. Connect MetaMask wallet

MetaMask is a browser extension for storing and transferring Ethereum and ERC-20 tokens. You can install it using the link.

Log into MetaMask wallet and go to the Demex website. Click the button “Connect Wallet located in the upper right corner.

In the list of available wallets, select MetaMask and click on it.

Now click on “Connect with MetaMask”.

Then click “Next”. This procedure takes place in two stages. Please note that when you connect MetaMask, your encrypted keys are made publicly available to applications. If you transfer them to an untrusted site, you risk losing all your funds stored in the wallet. For security reasons, we recommend using separate wallets.

Demex will submit a request to get your encrypted key using the MetaMask extension in a separate window. Click “Provide” to provide access. You hereby authorize the application to make transactions from your wallet. Do this only if you trust the site.

Important! Avoid phishing links and always check the domain in your browser. Demex’s real address is app.dem.exchange

Now click “Sign”.

Confirm the transaction in a separate MetaMask plugin window to allow Demex to spend coins from your wallet. After that, the exchange of tokens (SWAP) will become available to you.

You will need coins to pay for Gas. This is a one-time payment to deploy the ETH contract on your account. The commission amount depends on the current average commission on the Ethereum network.

Excellent! You have successfully created an account on Demex and connected the MetaMask wallet. Now you can deposit and exchange your tokens for SWTH.

Note. Currently, $SWTH tokens on Demex exchange can only be purchased with Ethereum (ETH) and USD Coin (USDC).

Click “Alright, proceed to Demex” to go to the terminal.

Step 2. Make a deposit

Now you need to make a deposit. Con your profile in the upper right corner and select “Wallet Balance”, as shown in the screenshot.

This is where your Demex wallet balances are displayed. In the line ETH, click the “Deposit” button to get the address.

Select Ethereum (ERC-20) to fund your MetaMask wallet as shown in the picture.

Copy the wallet address below the QR code and paste it when sending ETH from the MetaMask wallet.

Enter the amount of Ethereum coins you want to send, specify the commission and confirm the transaction. The lower the commission, the longer the transaction will take. If you want the transaction to go through quickly, set a maximum commission. Click “Next”.

Note. Please note that the minimum deposit amount is 0.112 ETH (this amount may change over time). Deposits with a lower amount will not be credited. The coins will appear in the Demex wallet after 12 confirmations on the Ethereum network.

Wait until the coins are displayed on the balance. You can track the status of transactions via Etherscan by following the link found in the MetaMask transactions list. The transaction speed can vary from a few minutes to several hours, depending on the amount of commission you set and the extent of the workload of the Ethereum network. If nothing happens for a long time, refresh the page. Once the transaction takes place and the Receive button becomes active, click it to complete the transfer.

Okay, you have coins in your wallet! Now go back to the Demex terminal and go to the Trade tab and select the appropriate trading pair to exchange ETH to SWTH. Enter the amount to exchange and click “Buy SWTH”.

Check the details of the transaction, and if everything is ok, click “Confirm”.

Step 3. Stake SWTH

Awesome! You bought SWTH and can now stake. Go to the “Staking” tab and click on the “Start Staking” button.

To stake SWTH directly, you need to become a validator. Regular users can delegate their tokens to a validator by selecting a validator from the list. Choose only trusted and community verified validators such as Everstake. To quickly find the required validator in the pool, use the search bar and start typing the name into it.

Enter the amount of SWTH coins you want to stake. If you decide to stake all tokens, click the “Max” button. Then click “Stake”.

Confirm your action. Demex draws your attention that you will not be able to withdraw your tokens within 30 days — this is the unstake period. Click “Ok” to continue.

Done! You have successfully staked SWTH, and now let’s receive rewards. You can check your staking status and receive rewards in the My Staked SWTH tab.

The network fee for each transaction, including the collection of the reward, is 1 SWTH, so do not collect tokens too often.

Subscribe to Everstake and stay up to date with current PoS blockchain events. We also feature staking guides for different wallets. Good luck!

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