How to create your own Binance DEX wallet account

If you have an existing Binance DEX Wallet you can use, please go to Step 6 and start trading.

Step 1: Go to Binance.org

Go to https://www.binance.org/en/ and click on ”create a wallet” button on the homepage and follow the steps below.

Step 2: Finish tutorial

Read the information regarding different formats you can use to access your Binance Chain wallet and click on next to finish the tutorial.

Step 3: Provide a Strong Password

Provide a password that will be used to access your wallet. The password must be at least 8 characters and include an uppercase letter, number and a symbol. Then click on download keystore file button. Store the keystore file somewhere safe (best on an USB stick).

Step 4: Write down mnemonic phrase

Copy the mnemonic phrase and store it safely. Forgetting your password or losing your phone and not having copied the backup phrase is equivalent to losing all of the tokens stored in your account.

• It is important to remember that you should never share your backup phrase with anyone else. If anyone obtains your backup phrase, they will have access to all of your funds.

Step 5: Create wallet

Select the words one by one in the correct order and continue to the next step. After completing that step, your wallet has been successfully created! Now you can use Binance DEX. Click on ”unlock the wallet” button to open your Binance Chain wallet.

Step 6: Unlock wallet

You can open your Binance Chain wallet with your keystore file and password. Besides that, you can use Binance DEX with your Ledger Nano S. If you already connected your Ledger Nano S with the Binance DEX, you can follow this guide to start trading.

After unlocking the wallet, you will be redirected to the exchange where you can see trading pairs, order books etc. and start trading. You can also see your Binance Chain address on the balances page.

Step 7: Place order

Place your order (found on the right bottom of the page). The QBX trading par will be QBX/BNB. You therefore need BNB in order to place an order! If you do not have BNB, you can buy them on binance.com and transfer them to your Binance DEX wallet.

In this example, we use $ONE https://www.binance.org/en/trade/ONE-5F9_BNB

At the moment, Binance DEX only supports Limit Orders.

You can use the “Best Ask” to input the minimum price that you can currently buy for.

You use the “Best Bid” to input the highest price that you can currently sell for.

• “Price” — The number of tokens per token that you are willing to buy / sell for. “Price” can only be changed with “Tick Size”. For $ONE, the tick size is 0.00000001
• “Amount” the number of tokens you wish to buy / sell. “Amount” can only be changed with “Lot Size”. For $ONE, the lot size is 10.
• “25% / 50% / 75% / 100%” This will allocate the selected percentage of your funds to either be sold or used to buy.

For example on the buy side if you want to buy 100$ONE and your limit price is 0.0006625. Then, the total notional for this order is 0.06625.

Click “Buy ONE” Confirm the submission of your order.

Common Error:

• “Not enough balance” A common error that will occur if the number of tokens required to execute the order is more than the total number of tokens displayed in your “Total” balance.

• Price warning — if the price you inputted an order at is above 2% higher than the latest market price then you will be notified. Proceed with caution.

“Limit Buy / Sell order created”

A note will pop up on the right corner of your screen after you confirmed your order.

Verifying your order was created and placed

Once you made an order, you can see that in your order history on the first tab at the bottom left of the page.

Once filled you can view your completed trades under “Order History” on the second tab at the bottom left of the page.

To check wallet balance click the “Balance” button

Cancelling open orders

To cancel an order that has either not been filled or has only been partially filled you can click on the “X” at the right side of the “Open Orders” tab on the bottom right of the screen.

Should you have any questions, reach out via qiibee’s telegram channel: t.me/qiibee or write us an email at: welcome@qiibee.com :)