Connect Your Wallet to Sphynx Labs
Last updated
Last updated
Why buy through Sphynx Labs and not any other swap?
With Sphynx Labs, investors can instantly swap/exchange cryptocurrency tokens without having to go through any registration of applications. We charge very low fees when compared to our competitors. We do not hold or control investors' funds — we give the investor the ability to do so. They do not have to create an account to use Sphynx Labs. The investor is in control of their assets.
When it comes to centralized exchanges, many of them charge "taker fees" from the takers and "maker fees" from the makers.Takers are the people removing liquidity from the order book by accepting already placed orders, while makers are the ones placing those orders. The main alternative to this is to simply charge “flat” fees. In this scenario, the exchange would charge the takers and makers the same fee.When it comes to decentralized exchanges, many of them don't charge any trading fees at all. This is one of the big arguments that DEX-supporters use to explain why centralized exchanges are on borrowed time.
Sphynx Labs does—like most decentralized exchanges—not charge any transfer fees or withdrawal fees other than the network fees. The network fees are fees paid to the relevant crypto/blockchain miners and not fees paid to the exchange itself. Network fees vary from day to day, depending on the network pressure. Generally speaking, only paying the network fees should be considered below the global industry average regarding fee levels for crypto withdrawals (if you include all exchanges, both DEXs and CEXs, in the data set).
Once the funds have been deposited into your MetaMask wallet, you can head over to https://thesphynx.co to purchase $SPHYNX.
At the top right of the page, you will see “Connect”. Please click that to connect to a crypto wallet such as MetaMask.
Select MetaMask to proceed with connecting your wallet. Click “Next” to fully establish a connection between your MetaMask wallet and the Sphynx platform.
Congratulations, you are now connected!
To the left of your screen, you will see the option to swap, with Sphynx already loaded onto the swap. With your connected wallet, please enter the amount of $BNB you’re willing to swap for Sphynx. Please note that to trade on the Binance Smart Chain—or any smart chain for that matter—you need to spend a little bit of that native currency for gas fees. So if you have 1 $BNB in your wallet, you should try to save at least 1% of your total funds for gas fees.
Once you are satisfied with the amount, please click “Confirm Swap”.
You will then be met with a prompt from MetaMask, requesting your permission for the swap. Click “Confirm” to accept the transaction and voila — you have successfully purchased $SPHYNX!
If you are using trust wallet watch this educational video on our Youtube Channel
This may be due to high volume, so the investor should attempt to increase the slippage or refresh the page. Usually, the latter is the quickest option.
The recommended range would be 12-15%. Note: it's imperative to understand the distinction between the terms "slippage" and "tax".It doesn't matter if you increase your slippage to 15% or even 25% because you will only be taxed 11% as per our tokenomics. However, slippage has to be increased in some instances to counter volatility when there's a surge of volume coming.
This may be due to the liquidity not existing for that particular token. For instance, $SPHYNX will not have liquidity on PancakeSwap, but it will through SphynxSwap, so make sure for this example to select "SPHYNX-LP" instead of "PCV2". Conversely, with Sphynx having its liquidity on SphynxSwap, investors will not be able to swap for $SPHYNX unless they use "Sphynx LP", as there would be no liquidity that'll exist on PancakeSwap. Remember - never, in any situation, should you ever give someone your private key or recovery phrases.
