Hi, guys and welcome to the SimpleSwapcryptocurrency exchange! In this video, we will guide you on how to buy IRISnet injust a few simple steps using our platform. So let’s roll! First, let’s take a closer look at IRISnet.
IRISnet is designed to be the foundation for the next-generation distributed applications. Built with Cosmos-SDK, Iris hub enables cross-chain interoperability through a unified service model, while providing a variety of modules to support Defi applications.
The project has its own initial coin called irIRISthat is used for delegating and staking, for the consensus mechanism, paying for transaction fees and smart contract executions as well as creating and voting for governance proposals. Sounds cool right? IRISnet is definitely worth your attention.
Ready to get some IRIS coins? Start with selecting the coin that you want to exchange in the us “you send” section using the drop-down list. You can also use the search bar: just type in the name of the cryptocurrency or its ticker.
Next, enter the amount you would like to exchange. Now, select IRISner in the “you get” section. You can also use the search bar. After that, you will see the estimated amount of IRIS you will receive. Please note that there is a minimum amount for every exchange.
Do not send an amount less than the minimum one. Then you need to enter the recipient’s IRIS net address. Be extremely careful and double-check your IRISnet address. Your IRIS coins will be sent to this address right after the exchange. Please be careful when sending a deposit as you may also need to enter a memo alongside the address. Alright now, all the necessary details for the exchange are entered.
Once again make sure that all the data is correct. If everything is okay click the exchange button and you will be forwarded to the exchange page. At this stage, the status of our exchange is “waiting”.Here you will see the address to send the indicated amount of Wrapped Bitcoin to continue the exchange.
You can use the QR code to speed things up. After we have received the deposit to our address and the transaction has the required amount of confirmations the status will be indicated as “exchanging”, which means that your exchange is in progress.
While our system is sending you IRISthis status changes to “sending” and you will only have to wait for a little for the coins to reach your address. Now that’s it! Your exchange is completed and you can see the indicated status as “finished.
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