Frequently asked questions

Here you can find frequently asked questions and answers

About Droidex

What is Droidex?
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Droidex aggregates decentralized exchanges and DeFi services in one smart interface to streamline user swaps with decentralized finance on Ethereum, Binance Smart Chain, Polygon and Avalanche.

How does Droidex work?
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Droidex gathers liquidity from the main decentralized exchanges and DeFi services together in a convenient interface abstracting most of the swaps complexity to make it convenient and accessible for end-users.

Why Should I Trust Droidex?
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Although we believe Droidex to be very secure, the Ethereum blockchain and smart contracts are a relatively new technology, and there is always some risk of a security flaw. By using Droidex and agreeing to our Terms of Service, you represent that you understand and accept that risk.

What countries do Droidex support?
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The droidex user interface is available to use in most countries. For detailed information on the terms and conditions that may apply, please, check out our Terms of Service. Making sure that the use of Droidex is in compliance with applicable laws and regulations in a specific country is the user’s responsibility.

Can I use Droidex in the USA?
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Yes, of course.

How to start using Droidex?
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At How it workspage you can find step by step guide.

I don’t have Bitcoin to exchange. What to do?
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That's okay, our service does not support bitcoin, you can find a list of supported coins here.

What are trading fees?
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When you make a token swap on the droidex exchange you will pay a 0.30% trading fee.

What are limits?
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Our service does not set exchange limits. They can be limited by the liquidity pools of a particular token and the balance of your wallet.

How long does an exchange take?
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Usually the exchange takes a couple of seconds, but it also depends on the load on the network and the price of gas. The higher the gas price = the higher the transaction speed.

How can I cancel my transaction?
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No, you cannot cancel a crypto transaction. When you press confirm swap in your cryptocurrency wallet, your transaction details are broadcast to the blockchain, and once initiated, your crypto transaction cannot be stopped.

What happens if I deposit an unsupported coin or token?
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If unsupported tokens/coins/digital currencies are accidentally deposited/transferred, they are generally non-refundable. If the deposit can be refunded, the customer will be responsible for any fees that may apply.

Do I need to register to use Service?
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Using a Droidex does not involve a sign-up process, as you do not even need an email address to interact with our platform. Instead, you will need a wallet for example “Meta Mask” or compatible with the smart contracts on the exchanges network.

How to exchange cryptocurrency using Service?
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At the How it works page we have a step by step guide that helps you.

Decentralized Exchange

What is a decentralized exchange?
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Decentralized crypto exchanges (DEXs) are blockchain-based apps that coordinate large-scale trading of crypto assets between many users. They do that entirely through automated algorithms, instead of the conventional approach of acting as financial intermediary between buyers and sellers.

What is the difference between decentralized and centralized exchange?
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Centralized Exchange

A centralized crypto exchange facilitates the trading of cryptocurrencies through an intermediary platform owned and managed by third parties (other than buyers and sellers). In other words, such an exchange is controlled and managed by centralized entities and has an owner. Traders will generally need to share their personal details (KYC, etc.) in order to trade with a centralized exchange. Almost always the control is in the hands of the exchange owners and they decide the rules by which the platform is run.

Decentralized Exchange

A decentralized exchange or DEX is the exact opposite of a centralized exchange. It operates without middlemen and does not have centralized entities or owners. Trading happens directly between buyers and sellers through smart contracts on a blockchain. There are many benefits of a DEX, such as high security, improved transparency, low cost, higher speed, and more.

How to exchange crypto at the lowest fees?
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Just use Droidex, it will compose the best route for your exchange, thereby allowing you to exchange with the lowest commission.

Do you lose money when you convert crypto?
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No, Since conversions take place on a third-party decentralized exchange, it is possible for the price to fluctuate. Swap will execute at a price within 2% of the estimate, or the transaction will be canceled and your funds returned to your wallet.

Is crypto exchanging profitable?
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In some cases cryptocurrency exchange is profitable, in other cases you can lose your assets. Droidex is not responsible for the transactions you make at your own risk.

Can I trade crypto without a broker?
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Yes, of course, to use our service need connect wallet for example “Meta Mask”, choose coin you want to swap and click “Swap”

Safety

Why is Service safe?
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Droidex is a decentralized exchange and does not store your tokens. Unlike centralized exchanges, such as Binance and Coinbase, that require you to deposit tokens with a third party to make a trade, all trades on Droidex are peer-to-peer. You trade directly from your Ethereum wallet and retain complete custody of your tokens throughout the entire process.

How does Service protect my privacy?
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You can find more information at page Privacy Policy.

Can Service take away my money?
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No, cause Droidex is a decentralized exchange and does not store your tokens.

Other

Which crypto is decentralized?
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Any cryptocurrency is decentralized because the principle of decentralization is the basis of any cryptocurrency operating on a blockchain.

What are the types of cryptocurrency exchanges?
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We have 4 types of cryptocurrency exchange, for example: Classic exchange, P2P, Brokers and DEX.

What should I look at when choosing a cryptocurrency exchange?
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Here are six things to consider when choosing a cryptocurrency exchange, regardless of experience: Authenticity and security, method of purchase, supported tokens, trading platform, P2P exchange, or broker and fee structure, user interface and user experience.