What is DueDEX exchange? General information
- 1. What is DueDEX exchange?
- 2. Some other information about DueDEX exchange
- 3. Advantages and disadvantages of DueDEX exchange
- 3.1 Advantages
- 3.1.1 High Security
- 3.1.2 Transparent and clear information
- 3.1.3 High liquidity
- 3.1.4 Quality customer care team
- 3.1.5 User-friendly interface
- 3.2 Cons
- 4. DueDEX transaction fee
- 5. Instructions on how to register an account on DueDEX exchange
- 5.1 What to prepare before registration?
- 5.2 Signing up for a DueDEX exchange trading account
- 6. Guidelines for account security on DueDEX exchange
- 6.1 How to activate 2-step security 2FA
- 6.2 Ways to verify KYC identity
- 7. Instructions for depositing and withdrawing Crypto from DueDEX
- 7.1 How to deposit Crypto into DueDEX
- 7.2 Ways to withdraw money from DueDEX exchange
- 8. Instructions for using the DueDEX exchange trading interface
- 8.1 Positions and Contracts
- 8.2 Order types on Duedex
- 8.2.1 Limit-Order and Market-Order
- 8.2.2 Conditional Orders (Trigger Market and Trigger Limit)
- 8.3 Leverage on DueDEX exchange
- 8.4 Funding rate
- 8.5 Liquidation
- 9. Experience using other features on DueDEX exchange
- 9.1 Instructions for Trade Margin on DueDEX exchange
- 9.2 Instructions for using the Stop-Limit function on DueDEX exchange
- 9.3 Instructions for using the OTC function on DueDEX exchange
- 9.4 Instructions for using API Key on DueDEX exchange
- 9.5 Instructions for getting the ref link to introduce DueDEX exchange
- 9.6 Troubleshooting guide for 2FA loss on DueDEX exchange
- 9.7 Instructions for contacting support
"What is DueDEX exchange" is currently particularly interesting to many Coin players. What features does this trading platform have that interest the Crypto community? In today's article, BHO Network will introduce everyone to the newly launched exchange and guide you on using DueDEX's features most effectively. Check it out now!
1. What is DueDEX exchange?
DueDEX is an officially registered Crypto derivatives exchange in Belize. DueDEX offers perpetual swaps with up to 100x leverage. Another unique feature of DueDEX is its high throughput capability with over 100,000 TPS and low latency of less than 10ms. The platform was developed and marketed to provide users with a simple, efficient, and secure trading platform.
2. Some other information about DueDEX exchange
DueDEX official establishment is in August 2019. After nearly two years of development, that exchange has many branches in Hong Kong, the USA, Beijing, Philippines,... DueDEX is committed to providing users with excellent customer care services, supported 24/7 through various social networking platforms, in multiple languages, including Vietnamese.
3. Advantages and disadvantages of DueDEX exchange
For players to trade on the convenient platform, the following section brought by BHO Network will provide information about DueDEX exchange advantages and disadvantages for everyone to understand better.
Despite only operating in the Crypto market for nearly two years, DueDEX exchange has had many innovative and outstanding advantages. Here is one of the exceptional advantages of DueDEX.
3.1.1 High Security
Understanding the importance of security and safety factors in investors' decision to choose an exchange or not, DueDEX exchange has applied advanced security technology applications best.
Users can be completely assured of the security of the personal information they have provided on their DueDEX account. All trading activities on the exchange will be notified to the server or email for you to monitor and manage easily.
3.1.2 Transparent and clear information
All rules, formulas, policies, or user support functions are displayed clearly and fully on the DueDEX homepage. You will be guaranteed transparency and fairness. In particular, DueDEX commits to users that there will be no bad cases such as dumping or fraud in transactions.
3.1.3 High liquidity
If you still wonder about the liquidity on DueDEX exchange, don't worry because the exchange has deep liquidity, simplicity, and high competitive efficiency. The system is linked to high-level markets and the exchange's liquidity. All are extremely good, and the price is highly competitive, ensuring to bring consumers the best fee.
3.1.4 Quality customer care team
The customer support team at DueDEX works 24/7 to be able to solve problems and answer users' questions in the fastest and most convenient way. You will receive support via email, chat box, or social networking sites such as Facebook, Telegram and Twitter.
3.1.5 User-friendly interface
DueDEX's interface is beautifully designed, easy to see, the main features are arranged with an extremely logical and neat layout to make it easy for users to perform operations. In addition, the display of the market chart on the main interface also allows users to analyze and monitor themselves, thereby making trade-offs.
There are few trading pairs established on DueDEX. Currently, the system has only one trading pair, BTC/USDT, for users. With a short time to participate in the market, the products traded on DueDEX exchange are still not diversified. DueDEX currently only offers derivative products.
4. DueDEX transaction fee
For Taker users (taking direct or market orders), the DueDEX exchange charges a fee of 0.075%. For users who place orders to appear on the number of orders (Limit Order), DueDEX compensates 0.025% fee.
5. Instructions on how to register an account on DueDEX exchange
To start using DueDEX exchange, you need first to need to account registration. Here are a few general instructions on the interface and registering a login DueDEX exchange on this electronic exchange.
5.1 What to prepare before registration?
To register for an account on DueDEX, everyone needs to prepare an email or a regular phone number. This is a necessary condition that any user needs to meet.
5.2 Signing up for a DueDEX exchange trading account
Here are the DueDEX trading account registration instructions for newcomers to the cryptocurrency trading platform.
Step 1: You search for the DueDEX website and select Register.
Step 2: You choose to use your phone number or email to register. After entering information, players should check the box "I agree" to agree to the terms of the exchange.
Step 3: You will receive an email or text message about creating an account and asking for a one-time confirmation. Users only need to click on the guided item to complete the account activation process.
6. Guidelines for account security on DueDEX exchange
In performing transactions on DueDEX, good account security will limit unnecessary risks. The following are the most commonly used account security methods on the DueDEX electronic exchange.
6.1 How to activate 2-step security 2FA
For account security on DueDEX trading platform, you need to go through the following steps:
Step 1: On the main interface of the exchange, follow the photo below.
Step 2: Install the “Authenticator” app on your phone.
Step 3: Scan the QR code with the Authenticator app.
Step 4: Save the KEY code.
Step 5: After saving the KEY code, confirm one more time by entering the code from the Authenticator app or sending in an email.
Step 6: Select CONFIRM, and you have completed the FA 2-step security activation process.
6.2 Ways to verify KYC identity
Currently, DueDEX exchange does not require identity verification (KYC).
7. Instructions for depositing and withdrawing Crypto from DueDEX
Cryptocurrency deposit and withdrawal are two essential operations that any user on DueDEX exchange will use to participate in e-commerce transactions. How to do this operation is as follows:
7.1 How to deposit Crypto into DueDEX
On the main interface on DueDEX, please follow the steps:
Step 1: Select Account.
Step 2: Click on Deposit.
Step 3: Copy the wallet address and send it to the seller, then the system will automatically load Coin.
DueDEX exchange only accepts two official coins, BTC and USDT, with a minimum deposit volume of about 1 USDT or 0.000001 BTC.
7.2 Ways to withdraw money from DueDEX exchange
To increase the safety of transactions, you should set a password for the process of withdrawing money from DueDEX. The operation is done as follows:
Step 1: You choose Account.
Step 2: Click on Withdraw item.
Step 3: Enter the wallet address that you will withdraw to.
Step 4: You enter the number of coins to withdraw.
Step 5: Select Submit to complete.
Note when withdrawing: The minimum amount to withdraw is 0.001 BTC, 10 USDT. DueDEX will only process withdrawals at 12, 8, and 4 pm for 30 minutes according to the schedule.
8. Instructions for using the DueDEX exchange trading interface
The main products that DueDEX exchange offers are derivatives or leveraged products. Specific steps on how to use DueDEX exchange are as follows:
In the main interface of the screen, people choose "Trade" to participate in transactions.
8.1 Positions and Contracts
To open a position on DueDEX exchange, you can use a limit order and choose a market order to close. Each contract traded on DueDEX is counted as 1 USD, depending on the amount of BTC you Deposit to the exchange and desired leverage. Players will choose the number of contracts to trade accordingly. The user will see the deposited BTC value in the Account section, opening the appropriate position.
8.2 Order types on Duedex
Besides depositing and withdrawing Crypto, DueDEX exchange also offers many other orders to ensure convenience and increase the quality of user experience.
8.2.1 Limit-Order and Market-Order
You choose a limit order to set a buy or sell price that suits your analysis and desires. Usually, the way to place a limit order is that the player enters two parameters, including cost and contract quantity (Quantity), after pressing Buy/Long or Sell/Short.
There are two types of information when placing orders: Reduce Only and Post Only. If the user wants to be sure to use the put order to close the charge without going through the new position, select Reduce Only. Conversely, you click Post Only if placing orders on the Order book to match market orders and limit transaction fees. If you want to cancel the order, press the CANCEL button at the top right corner of the display screen.
8.2.2 Conditional Orders (Trigger Market and Trigger Limit)
Trigger Market orders are created to allow the use of mandates according to the market price at the last transaction price on the exchange. You should note that the Trigger Market command is only used to reduce the order position structure. The operation using that order is to enter the price and the number of contracts you want to stop in the Stop Price and Quantity boxes.
A trigger Limit is used to trigger a stop order when the market reaches a required price. Trigger Limit orders reduce transaction fees but will be delayed orders due to waiting for order matching. Therefore, this order is easy to risk for the account with the order execution price placed near the liquidation price and the market price moves quickly.
8.3 Leverage on DueDEX exchange
There are two main types of leveraged positions at DueDEX exchange, which support the process of placing Limit Orders or Market Orders: Isolated (separate) and Cross (all). If you want a corresponding part of the funds in your account to be used to secure an open position, you can choose the Isolated function. In contrast, all funds will be used to secure the transaction with the Cross function.
In an Isolated position, the number of contracts you are trading is divided by the leverage the player chooses to get the amount of BTC (USD) that you deposit for your position. For a Cross position, you confirm a bet with leverage of x100 for the total amount of the fund. However, liquidation occurs only at the price where the total amount of your account used to maintain the account cannot cover the loss.
8.4 Funding rate
Looking at the bottom of the DueEX interface screen, you will see the Funding rate icon. The ratio of Long/Short trading is shown on the exchange. If the Funding rate reaches a negative value, the seller will have to pay a fee to the buyer and vice versa. According to Vietnam time, the Funding rate will appear at 11 am, 7 pm and 3 am.
When the Mark Price is less than or equal to the liquidation price at the time of long, the tick price is greater than or equal to the liquidation price at the Short. The position liquidation will take place. Any notice of position liquidation will be reported to the user's account and appear on the transaction history.
9. Experience using other features on DueDEX exchange
The appearance of so many other features on DueDEX exchange makes you wonder. Please read through the instructions below to be able to experience DueDEX with confidence and to the fullest.
9.1 Instructions for Trade Margin on DueDEX exchange
DueDEX is a derivatives exchange. Trade Margin has significant profits but comes with high risks. Players should consider carefully before using this order. People can join experience exchange groups to exchange and share experiences with other users in the community.
9.2 Instructions for using the Stop-Limit function on DueDEX exchange
Up to now, the Stop-Limit function has not been activated on DueDEX. If there is a change shortly, BHO Network will update more.
9.3 Instructions for using the OTC function on DueDEX exchange
This feature has not been updated on the exchange yet. Users can only exchange coins outside and deposit them on the sale.
9.4 Instructions for using API Key on DueDEX exchange
Here are five steps to use API Key on DueDEX.
Step 1: Click on the “Account” icon
Step 2: Click on the “API Keys” item
Step 3: Enter a name
Step 4: Enter IP Whitelist
Step 5: Click on the “CREATE” item to complete.
9.5 Instructions for getting the ref link to introduce DueDEX exchange
You click on the Affiliates section on the main interface of DueDEX to get the Referral link. When becoming Affiliates for DueDEX, everyone will have the opportunity to receive many special promotions and attractive commission rates.
9.6 Troubleshooting guide for 2FA loss on DueDEX exchange
If your authenticator phone is damaged or lost, please use the original KEY code Authy provided to log in on another device. If the user fails the KEY code, the account on the exchange is also considered lost. Therefore, players should be careful to write down the KEY code in a note and keep it in a safe and secret place.
9.7 Instructions for contacting support
If you need to answer questions or have problems, you can use the chatbox in the lower right corner of the screen to receive direct help from the customer service department of the exchange. ProEx translation.
Thank you for being so interested in information about “what is DueDEX exchange”. Hopefully the sharing of BHO Network will help readers better understand the DueDEX exchange as well as get all the information about the features or instructions for use. Please contact the consulting team if you have questions and need answers about DueDEX exchange and don't forget to update exciting information in the next BHO articles!
Published on May 18, 2022
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