Trader Joe XYZ is a decentralized exchange (DEX) based on the Avalanche Blockchain. Decentralized exchanges allow direct peer-to-peer trading of tokens on a blockchain. There is no central company that oversees the transaction like there is with a centralized exchange (CEX).
Trader Joe XYZ can be a useful tool to stake and trade funds without needing to trust anybody or ask for permissions.
Step 1: Buy AVAX from an exchange (optional)
If you do not have any AVAX on your Avalanche wallet you need to get some AVAX first. One of the easiest ways of buying AVAX is by using exchanges like Kucoin, Coinbase or Binance. After you have purchased AVAX you will need to send it to your Avalanche wallet.
Step 2: Connect your wallet to Trader Joe XYZ
Once you have a Avalanche wallet with AVAX you can go to Trader Joe XYZ. You will then need to connect your wallet by clicking the 'Connect to a Wallet' in the top right corner.
Trader Joe XYZ supports Metamask, Rabby, Coin98, Coinbase Wallet and WalletConnect.
Step 3: Select a token
Once you have connected your Avalanche wallet you can click on 'Trade' and you will get redirected to the swap interface of Trader Joe XYZ.
Select a token and choose a cryptocurrency that is already listed. You can also import a contract address but please make sure to check that it is the right one. Always copy a contract address from official sources.
Step 4: Make your trade
Enter the amount of AVAX you want to trade for another token and also make sure you have enough funds to cover the gas fees. Then click on 'Swap'.
The confirmation of your transaction will take some time. Once the transaction is done you have successfully swapped AVAX for another token on the Avalanche Blockchain.