Trade in a Few Clicks With the New Connect & Trade Feature on Polkadex Orderbook
Making your first trade on Polkadex Orderbook just became easier. The non-custodial order book DEX experience is now just a few clicks away, thanks to the new Connect & Trade feature on Polkadex Orderbook. With Connect & Trade, newcomers can easily connect their wallet, add funds, and place a trade.
Orderbook Onboarding Until Today
Before Connect & Trade, traders had to sign an on-chain transaction to register a separate trading account before being able to add funds and trade on Polkadex Orderbook. While the trading account — an account that only has permission to trade the funds a user has deposited, but allows users to trade without signing from their on-chain wallet — is the keystone feature of Polkadex Orderbook, its requirement posed a barrier for many users who might be more inclined to place a few test trades before creating a trading account.
Connect & Trade
The Connect & Trade update bundles the trading account registration transaction into the first deposit transfer. It also makes the funding account function as the default trading account, reducing the need for two accounts (funding and trading accounts) when interacting with Orderbook. All of this means a user will only need to make a deposit to Orderbook (which is just another way of saying their first lock-up of funds to be used for trading) to start trading!
While first time traders will still approve their trades with an on-chain signature — similar to the experience on other DEXs — they will have the option of ‘upgrading’ their experience and creating a separate trading account.
WATCH the full walk-through of the new Connect & Trade feature
Why Upgrade Your Trading Experience?
If you plan to make more than a few trades, want to trade on the go and on multiple devices, or even want to integrate a trading bot to automate your trading, you probably don’t want to have to sign a transaction from your wallet for every order you place, cancel or edit.
You can upgrade your trading experience by creating a separate trading account. A separate trading account will make your trading experience closer to that of a centralized exchange, while your funding account maintains full custody of your assets at all times.
Returning traders
Returning users will now also see the option to use their funding account as a trading account when connecting to Orderbook. This means you can place trades even if you haven’t added your trading account to the device you’re trading from. It also means that you’ll still be able to trade from your funding account even if you’ve lost access to a previous trading account, for example.
The previous default option of having a separate trading account is still available and recommended for full-time traders but the new Connect & Trade experience simplifies onboarding to Orderbook while also providing additional flexibility to existing traders.
Improved Onboarding and Additional Flexibility
The new Connect & Trade feature not only reduces friction for first time users getting started on Polkadex Orderbook, it also provides traders with more options to interact with the CEXier DEX. This increase in flexibility and improvement in onboarding lays the path for the upcoming cross-chain bridge integration into Orderbook, as well as the launch of direct deposits and withdrawals.
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