DexTools Guide: How To Use Its Decentralized Market Data For Trading and Investing

Introduction

Much has been said about the battle between centralized exchanges (CEX) and decentralized protocols for the heart of crypto traders and investors since the rise of DeFi in 2020. Proponents of decentralized exchanges (DEX) maintain that if you don’t own your keys, you don’t own your crypto, and that it’s safer and more private to keep self-custody of your digital assets.

However, it is also true that dealing with DeFi protocols directly from your private wallet currently still comes with a lot of headaches, such as high transaction fees, security concerns (where do I keep my private key or recovery seed, etc.) and of course, actionable, real-time market data. CEXs excel at offering its users accurate historical and real-time data and order books within its platforms, allowing traders to make quick decisions in order to capitalize on market conditions.

This is more difficult though for the DEX landscape, where there is a much bigger reliance on actual verifiable on-chain data with thousands of different metrics and protocols to consider.

Luckily, progress is being made, with a new generation of smart DeFi tools like DEXTools, DeFiLlama and DeFiPrime (even NFT dashboards like Rarity.Tools) now at the disposal of savvy investors and traders looking to lift the veil of decentralized finance to see what’s really going on.

In this article, we’ll do a deep dive into DEXTools, the powerful app and ecosystem for DeFi traders that provides unique blockchain data in one location about the state of markets, your portfolio and more.

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What Is DEXTools?

DEXTools is a DApp for decentralized finance (DeFi) that offers one of the most complete sets of trading tools possible for decentralized exchange (DEX) users. The value of the platform lies in its diversity of functions, capacity to aggregate and scale quality data in real-time, and integrations with leading crypto projects, such as Uniswap, Sushi and PancakeSwap.

With DEXTools, it's possible to manage, analyze in detail and execute trades from a single interface. The trading tools offered by DEXTools include advanced trading analytics, price notifications, a liquidity pool explorer and a trading pair explorer with live price data and charts that highlights trending cryptocurrencies.

The liquidity pool explorer enables users to track liquidity movements and the creation of new pools on DEXs. Not only that, but DEXTools also integrates Uniswap and other marketplaces, enabling users to stake and perform swaps on ERC-20 and BEP-20 tokens directly through the DApp.

DEXTools also provides invaluable on-chain metrics, including the ability to track wallets, swaps and transactions from whales and other holders. Wallet info, one of the only paid functions of DEXTools, allows users to copy trade the moves of their favorite traders.

Finally, DEXTools can further help people maximize their profits through its system of bots. Both the price bot, which is highly customizable, as well as the new pairs bot, can be set up for free on Telegram, offering real-time notifications on price changes and trading pairs.

How Can I Trade Through DEXTools?

DEXTools allows users to perform atomic swaps of tokens directly through the platform. To do so, users will need to go on the “Multiswap” tab and select which pair and DEX they wish to trade on.

Once that’s done, users will only need to connect their wallets to the chosen DEX (Uniswap, Sushiswap, PancakeSwap), and everything will be ready.

With just the click of a button, users can easily open price charts on any trading pair available on the platform. All of DEXTools charts are from TradingView, which is among the leading software for chart analysis. Several charting tools and features can be used as well as the ability to save and share on social media.

In order to start using the DEXTools DApp, users will only need to connect their wallets to the platform. Choose from one of the available wallets (MetaMask, WalletConnect, WalletLink, Torus, Fortmatic, Authereum or MEW), and authenticate ownership of the wallet to begin exploring DEXTools.

What Is the DEXTools Token (DEXT)?

DEXT is the native utility token of the DEXTools platform. As a multi-chain token, DEXT exists on the Ethereum network as an ERC-20 token and on the Binance Smart Chain as a BEP-20 token.

By holding a certain amount of DEXT, users gain access to paid features and exclusive community projects such as DEXT Force Ventures, a small investment group for DeFi projects. Premium members also receive additional tokens, entitling them to a portion of subscription payments from other users.

The value of DEXT is expected to appreciate over time due to its deflationary supply, which is guaranteed by token burning events every month. There is a total supply of 150,000,000 tokens, with roughly 70% of the supply already in circulation.

The DEXT token is currently being traded on several exchanges, such as Uniswap, BKEX and Poloniex. Users and investors can buy DEXT in exchange for Wrapped Ethereum (WETH) or USDT stablecoin.

Premium members become eligible to earn tokens through the DEXTShare reward program. By holding over 100,000 DEXT in their wallets, premium members earn a share of all subscription payments.

DEXTShare has generated over $5 million in monthly airdrops for premium members.

Is DEXTools Free to Use?

Almost all of the functionalities of DEXTools can be accessed for free from any mobile device or desktop. You don’t need to install anything, as the DEXTools platform only has a web browser version, which you can access here.

To acquire a DEXTools subscription, users need to hold DEXT. Although the free plan includes most of the features on DEXTools, other plans add valuable extras and opportunities. Staking is not available at the moment.

The standard plan can be acquired by holding 1,000 DEXT in your wallet, or you can pay a monthly subscription of 277 DEXT. Beyond the free features, the standard plan includes more transaction and wallet information, price alerts on Telegram and email, 12 new hot pairs and access to the DEXT Force Discord channel.

The premium plan is exclusive to those with over 100,000 DEXT in their wallet. Beyond receiving extra DEXT tokens through DEXTShare, premium users also gain 15 hot pairs with faster updates, and they get privileged access to DEXTForce Ventures and other upcoming features.

What Is the DEXTools Academy?

The DEXTools Academy is an educational initiative to help beginners learn about crypto and help with mass adoption.

In the DEXTools Academy YouTube channel, users will find information about how to use the DEXTools platform, relevant news, and educational materials on cryptocurrencies.

Who Is Behind DEXTools?

The DEXTools team combines members with extensive expertise in engineering, software development, marketing, and finance. Short bios of the team members can be found here.

DEXTools has a long list of industry leaders as its partners. Beyond the DEXs integrated on the platform, which include Uniswap, Sushi and PancakeSwap, DEXTools is also partnered with other renowned companies, such as CoinMarketCap, 1inch, Ferrum Network, Carbon, PinPoint Capital, SYNC Network, YFDAI Finance, Unicrypt, 0x and Elrond.

What Are the Goals of DexTools?

While the roadmap for 2022 has yet to be updated for this year, the project has already grown immensely and aims to continue doing so, with a mission to “do for DeFi what cryptographic blockchains did for value and information transmission.”

Relevant information about DEXTools can be found on the official website or social media channels. Although the project has no whitepaper, its manifesto represents an excellent complementary source of information.

Conclusion

Crypto trading is all about getting the right actionable information first, in order to take the most profitable action as early as possible. Getting an edge over other traders in the crypto space is now possible by using analytics like DEXTools to your advantage.

However, it is important to understand what you are looking at and why it is important. Data viewed in isolation or without the necessary frame of reference remains just that-data — so put in the legwork and learn more about both fundamentals and technicals in our Academy library of educational crypto content.

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