Depositing, Buying and Selling, and Withdrawing wETC on IDEX
The goal of this tutorial is to show users how to buy and sellWrapped Ethereum Classic (WETC) on IDEX. WETC tokens are Ethereum Classic compatible tokens on the Ethereum blockchain. They have the same characteristics as a standard ERC20 token and can be transferred or stored in any ERC20 compatible wallet or exchange including IDEX.
In order to initiate buy and sell WETC, you will need to sign up and create a wallet on IDEX. Once that is complete, use the tutorial below to deposit, withdraw, buy, and sell WETC. Always remember to save your backup recovery phrase or JSON file when you create your wallet.
Deposit WETC in your IDEX Wallet
In order to deposit WETC into your IDEX wallet, you will need to create an account and sign in. Please note, IDEX has two wallets within each user account - a storage wallet for deposits and withdraws (also known as ‘My Wallet Balance’) and an exchange wallet for trading that currency in the market (also known as ‘My IDEX Balance)’.
Step 1 - Once you have logged into IDEX, hover over the user icon. Your wallet address will be the first row in the dropdown menu. Click on the copyboard icon and share that with the user or exchange sending you WETC.
Note: Since IDEX is an ethereum based exchange and WETC is an ERC20 compatible token, you may use your generic ethereum address to receive WETC.
Step 2 - In order to check your deposit and move the funds into your trading wallet, hover over ‘Balances’ and select ‘Full Balances’ on the IDEX homepage
Step 3 - In your Wallet list, search for ‘WETC’. The initial deposit from Step 1 will be reflected under ‘My Wallet Balance’. In order to deposit it to your trading wallet, select ‘Deposit’.
Step 4 - You will be prompted to a pop up window that confirms the balance you want to deposit into your trading wallet. Confirm the quantity of WETC to transfer and the gwei (speed) to deposit into your trading wallet and select ‘Deposit’.
Note: You will need to fund your IDEX account with Ethereum (ETH) to pay for transaction fees when sending funds between your storage and trading accounts.
Step 5 - Once the WETC have been transferred into ‘My IDEX Balance’ you are able to sell the tokens in the marketplace.
Buy & Sell WETC on IDEX
Step 1 - On the IDEX Homepage, search for WETC in the Markets Menu. Select ‘WETC’
Step 2 - You will be redirected to the WETC Marketplace where you are able to Buy and Sell WETC for Ethereum (ETH).
Step 3 - In order to Buy & Sell WETC, you will need to confirm the price and the amount you are willing to buy or sell for in exchange for ETH. You may use the order book on the trading page to view open orders in the market.
Step 4 - Once you enter the required information, select either ‘Buy’ or ‘Sell’ and your order will be sent to the market.
Step 5 - All your open orders can be viewed under ‘My Open Orders’. All WETC transactions on the IDEX market can also be viewed under ‘Market Trades’. All of your executed orders can be viewed under ‘My Trades’
Withdraw WETC in your IDEX Wallet
In order to withdraw your WETC from IDEX, you will need to first withdraw your funds from your trading wallet to your storage wallet.
Step 1 - Hover over ‘Balances’ and select ‘Full Balances’ on the IDEX homepage
Step 2 - Search for ‘WETC’. Under the Actions header, select ‘Withdraw’.
Step 3 - Confirm the withdrawal amount.
Step 4 - Once the withdrawal account is available under ‘My Wallet Balance’ it can now be drawn from IDEX to an external wallet. Under the actions menu, select ‘Transfer’
Step 5 - In the pop up window, enter the wallet address the WETC tokens will be transferred to along with the amount of WETC, and gas & gwei. Select ‘Transfer’ once the details have been entered.
Step 6 - Once the transfer is executed, IDEX will provide a transaction hash which can be tracked on Etherscan or Blockscout.