The Beginners Guide to SparkSwap DEX
Learn how SparkSwap works: Swapping BNB to SRKb as an example
The growth of Decentralized Finance (DeFi) has been immense. In a span of a few years, a lot of use-cases and opportunities have unlocked in DeFi platforms aiming to disrupt and build the same functions as traditional financial institutions or banking services, but definitely with certain advantages.
Lending, borrowing, and trading features have emerged in DeFi Ecosystem. One of the projects brought by this emerging industry is the Decentralized Exchange (DEX) and in the coming years, we’re seeing massive growth in the demand for DEXes.
Like any other institution who aims to fast track the mainstream adoption of blockchain technology, SparkPoint team has built SparkDeFi, a Decentralized Finance Platform that also gave birth to its own Decentralized Exchange called SparkSwap DEX.
Now, what is SparkSwap DEX?
SparkSwap is a DEX built on top of the Binance Smart Chain. You can swap multiple BEP-20 cryptocurrencies in a trustless and decentralized manner on SparkSwap. After it’s official launch, new features unveiled giving a better user experience — a smooth and instant access to Exchange, Adding Liquidity, Analytics and Info page.
How does SparkSwap works?
Step 1: Go to the SparkDeFi website
Go to the SparkDeFi website and make sure that the URL is srk.finance.
In the upper right-hand corner, click the LAUNCH STAKING APP button.
This will redirect you to another page where you need to click “Trade” from the navigation bar and choose “Exchange” button.
To make sure you’re not entering a fake or dummy site, check the domain and URL on the address bar. It should be “https://sparkswap.finance/#/swap”
But for faster access, you can directly go to the SparkSwap site: sparkswap.finance. It will take you to the SparkSwap site already.
Once you have accessed the web app, choose select Trade from the navigation bar then click “Exchange” to start exchanging BEP-20 cryptocurrencies in SparkSwap.
Step 2: Connect your Wallet
You must now connect your MetaMask wallet pointed to Binance Smart Chain. Click Connect to do so.
When your MetaMask wallet is connected, the balance of your BEP-20 tokens will appear. In this tutorial, I will swap BNB tokens to SRKb as an example.
Step 3: Start Swapping
Select “BNB” and “SRKb” to Swap.
Input your desired BNB Tokens you want to swap. Make sure you have balance left to cover the gas fee.
I’ll swap BNB to SRKb. I’ll be exchanging 0.016 BNB and in return, I’ll get 3,577 SRKb. Please take note that the price and/or amount of BNB per SRKb may vary.
Now, on the right side, click ‘‘Swap’’
A confirmation window will appear, review all the details, and click Confirm.
After clicking the Confirm button, the MetaMask wallet will appear to confirm the transaction. Just click Confirm. Again, make sure that you have enough BNB to cover the transaction (gas) fee.
Once successfully exchanged, a notification will appear, click View on BscScan to check the transaction.
Lastly, check your wallet to see if your new SRKb balance has already reflected.
Once my exchange transaction has been confirmed successfully, I received my 3577 SRKb. My previous balance of 0.0183176 BNB is now 0.0017306 BNB and my previous balance of 5,827.31 SRKb is now 9,433 SRKb.
Note: Always check if there is enough liquidity to each pair before swapping.
That’s it! Hope this short guide helps you in making your experience in exchanging tokens in SparkSwap easier and fast.
Our Official Channels:
Telegram Announcements (SparkPoint): https://t.me/sparkpoint
Telegram Announcements (SparkDeFi): https://t.me/SparkDeFiOfficial
SparkPoint Community on Telegram: https://t.me/SparkPointOfficial
SparkDeFi Community on Telegram: https://t.me/SparkDefi
SparkPoint Twitter: https://twitter.com/sparkpointio
SparkPoint Facebook: https://facebook.com/sparkpointio
SparkPoint Instagram: https://instagram.com/sparkpointio
SparkDeFi Twitter: https://twitter.com/SparkDeFi
SparkDeFi Facebook: https://www.facebook.com/SparkDeFi
SparkDeFi Instagram: https://www.instagram.com/sparkdefi/
SRK on CMC: https://coinmarketcap.com/currencies/sparkpoint/
SFUEL on CMC: https://coinmarketcap.com/currencies/sparkpoint-fuel/