How do I buy a token on a DEX?
On the DEX markets whose interface is provided by Paribu, you can buy a token with your spot stablecoin balance (USDT). The token you buy is reflected in your self-custody wallet in DeFi. The transaction is completed with a single passkey (Face ID / Touch ID on your phone) approval.
Before you start
- You must have completed your DeFi setup (agreement confirmed + self-custody wallet opened)
- You must have sufficient stablecoin (USDT) balance on the network where you want to transact
Buy a token
- In the Paribu app, go to the Markets > DeFi area
- Select the token you want to buy and open the token detail page
- Tap the Buy button
- Enter the amount you want to buy; the screen shows the live price and the amount you will receive
- Check the transaction summary (the amount you will receive, the single-line provider fee)
- Confirm the transaction with a passkey via Face ID / Touch ID
- When the transaction is complete, the purchased token is reflected in your DeFi wallet
Info: On your first DEX purchase, a one-time information screen introducing the environment you are transacting in is shown; it does not appear on subsequent purchases.
What happens during a purchase?
- During the transaction, the asset you will use is temporarily blocked in your wallet at Paribu (to prevent the same balance from being used twice)
- When the transaction is confirmed, the purchased token is reflected in your onchain balance (your DeFi wallet)
- The provider fee is shown as a single "Provider fee" line (for details, see DEX fees)
Important information
- The upper limit per transaction is shown on the transaction screen; you can make more than one transaction if you prefer
- If the price impact rises too high (above a certain threshold), the transaction is stopped for your security. The threshold is shown on the transaction screen
- If the transaction could not be completed, your asset remains unchanged; the blocked amount is reflected back to your wallet at Paribu
- The token you buy is sold on the network it was bought on, with same-chain logic
- Buy/sell transactions and order matching do not take place in the Paribu system, and Paribu has no authority to intervene in this environment. Your orders and requests are processed directly in the DEX smart contract
Frequently asked questions
Can I place an order at a specific price (limit)?
Only a transaction at the current market price (market order) is made; placing an order at a specific price level (a limit order) is not available.
Which currency do I use when buying a token?
You use your spot stablecoin balance, USDT.
Where does the token I buy go?
It is reflected in your own self-custody wallet in DeFi. You can see it under DeFi assets on the Wallet page.
My transaction could not be completed; is my money gone?
No. If the transaction cannot be completed, your asset does not change and the blocked amount returns to your wallet at Paribu as available balance.
Related articles
- How do I sell a token on a DEX? — Selling on a DEX and how long the amount takes to reach your balance
- What are DEX provider fees, networks, and limits? — The DEX provider fee, supported networks, and transaction limit
- What are slippage (price slippage) and price impact? — Slippage (price slippage) and price impact
- How do I start using DeFi products? — Setup steps with KYC and a single DeFi agreement
Author:
Paribu