Stakenet DEX — Quick Guide

Hello and welcome to a short “How to DEX” guide created for the community! It is kept as short as possible, therefore we are only going to cover the bare minimum of steps to prepare you to trade.

If you want to use a full detailed guide, check out this guide.

Before starting this guide, make sure you’ve downloaded the latest version, noted your backup seed, agreed to the terms and conditions on the DEX tab, selected a trading pair (e.g. for this manual BTC / XSN), and had it synchronized. This guide will show you how to buy XSN when you have BTC.

1st step: Wallet tab: Deposit BTC

Send money to your wallet, in this case, Bitcoin.

Click on Receive, generate a BTC address, and send BTC to this new address

2nd step: Wallet Tab: Open a BTC channel

Move the LN slider to the right and wait for the transaction to be confirmed before proceeding to step 3 (20–30 minutes as BTC transactions are slow, you can check the progress under Wallet: Channels.)

Wallets > Bitcoin > move slider to the right > click “Apply”

Move the slider to the right and confirm it (in this case you see an XSN channel opening)

3rd Step: Wallet Tab: Rent an XSN channel

Wait until the transaction has been confirmed before proceeding with step 4 (3 to 5 minutes, depending on the progress of the XSN blockchain, can be checked again with Wallet: Channels).

Click on Channel Rental to rent an XSN channel so that you can receive LN XSN.

4th step: DEX Tab: Start trading

Once the channels are confirmed, start trading and have fun with instant, private, and scalable Lightning swaps!

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