How to trade cryptocurrencies and decentralized assets on DeFiChain

DeFiChain runs everything on its own exchange, the so-called “DEX”, which stands for decentralized exchange. To get access to the DeFiChain DEX, you need to download the official DeFiChain Light Wallet from the store (iOS and Android) and buy the chain’s native token DFI, which is listed on leading exchanges including KuCoin, Bybit, Huobi, Gate.io, DFX, CakeDeFi, Bittrex, Bitget, BitMart, and Bitrue. European residents can use the simple on-ramp of DFX to buy DFI with their bank account.

DeFiChain runs everything on its own exchange, the so-called “DEX”, which stands for decentralized exchange. It replaces the middleman - which is used on traditional centralized exchanges. A classic example is the DFI-BTC pool on DeFiChain. If you want to buy BTC with your DFI, you put DFI into the pool and take BTC out - and vice versa.

What’s DFI?

The DFI token opens up the world to the DeFiChain ecosystem. It is at the core of all activities on the DeFiChain blockchain including:

  • Providing liquidity in multiple pools
  • Staking for blockchain consensus and security
  • As collateral to mint or borrow stock tokens (dAssets)
  • As a reward token
  • As the governance token of DeFiChain

Trade crypto and dAssets

Once you have DFI or other cryptocurrencies in your DeFiChain Wallet, you can start exploring DeFiChain’s powerful decentralized exchange. It supports a wide variety of cryptocurrencies including BTC, ETH, LTC, BCH, Dogecoin, USDT, and USDC. DeFiChain also offers decentralized assets, including stock tokens and commodities.

Within the wallet, you can then buy Assets like e.g. dTSLA token and can either go long or put them in a liquidity pool to earn rewards. This also works with other cryptocurrencies like e.g. dBTC, dLTC, dETH, etc., which are always paired with DFI. 

You can build a diversified portfolio on DeFiChain by getting price exposure to not just crypto but also stocks, ETFs, and commodities. So, rebalancing your portfolio is way simpler on DeFiChain compared to using multiple services like brokers and centralized exchanges. A list of all the available tokens can be found here.

Download the official DeFiChain Light-Wallet from the store (iOS and Android).