What Do You Need to Buy RIOT on a DEX?
To purchase RICH IN ONE TRADE (RIOT) on a decentralized exchange (DEX), ensure you have:
- A Crypto Wallet (e.g., MetaMask, Trust Wallet)
- Existing Cryptocurrency like BTC, ETH, or SOL to swap for RIOT.
What Is a Crypto Swap?
A swap refers to exchanging one cryptocurrency for another directly on a DEX, bypassing traditional centralized exchanges.
Step-by-Step Guide to Buy RIOT on a DEX
1. Set Up & Connect Your Wallet
- Download a compatible wallet (e.g., MetaMask for Ethereum-based tokens).
- Connect it to a DEX like Uniswap or PancakeSwap.
2. Select RIOT as Your Target Token
- Search for RIOT’s contract address (verify via official sources to avoid scams).
3. Enter the Amount to Swap
- Input how much RIOT you want or the amount of base currency (e.g., ETH) to spend.
4. Execute the Trade
- Confirm gas fees and slippage tolerance (see FAQ below).
Understanding Slippage
Slippage is the difference between the expected and actual trade price due to market volatility. To minimize it:
- Set a slippage tolerance (e.g., 1–3%) in your DEX settings.
- Trade during low-volatility periods.
Choosing a Secure Wallet for DEX Transactions
| Feature | Recommendation |
|-----------------------|----------------------------------------|
| Cold Wallet | Use hardware wallets (Ledger/Trezor) for maximum security. |
| Hot Wallet | Opt for reputable wallets like OKX, protected by 2FA and encryption. |
| Backup | Ensure private keys can be securely backed up. |
| User Control | Hold your private keys—avoid custodial wallets. |
👉 Explore secure wallet options
FAQs
Q1: Is RIOT available on centralized exchanges (CEXs)?
A1: Currently, RIOT is traded on DEXs only. Always check official announcements for CEX listings.
Q2: How do I avoid fake RIOT tokens?
A2: Verify the contract address via RIOT’s official website or trusted crypto trackers.
Q3: What’s the best time to trade RIOT?
A3: Trade during steady market conditions to reduce slippage risks.
Q4: Can I store RIOT in any Ethereum wallet?
A4: Yes, if it supports ERC-20 tokens. Use wallets like MetaMask or Trust Wallet.
👉 Learn more about token swaps