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Beginner Guide to using the No-Fee StellarX decentralized trading platform

So you want to try out StellarX? There are plenty of good reasons for wanting to.

StellarX bills itself as the world’s first fee-less, decentralized marketplace. It allows total access to the Stellar ecosystem. As more and more ICOs choose Stellar as their platform for fundraising, there will be more and more opportunities within the Stellar community.

Until now, decentralized exchanges have put a lot of people off because of being somewhat complicated and difficult to use (for the not-so tech-savvy, at least).

Thankfully, StellarX places a lot of emphasis on ease of use, and the interface is fairly intuitive.

For those who have never used a decentralized exchange before, or those who are new to cryptocurrency in general, it can still be kind of intimidating—so this guide is here to help explain the basics of how to use StellarX.

What You Should Know Before Signing Up

It’s important to remember when you sign up for a decentralized exchange that you will be responsible for your own funds. This means if you get hacked or lock yourself out of your account, you can’t run crying to the government or some corporation and expect them to help you.

As some in the cryptocurrency community like to point out: if you own cryptocurrency on a centralized exchange, you don’t own cryptocurrency. The custodial service, like Coinbase, Binance, or whatever, does. So signing up for a DEX is a big step into taking your financial life into your own hands.

While full-blown hacks are relatively rare, it is still good to take some basic precautions. For example:

First and foremost, don’t advertise the fact that you own cryptocurrency in public, especially if you have a large amount. If you do talk about the fact that you own cryptocurrency, consider using a VPN and not sharing information that can be linked to your identity or location. Take care clicking links or downloads where you are not certain of the integrity of the ...
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