In this article, we shall go through the process to get started with Mandala Exchange, built on the Binance Cloud platform. The vision behind Mandala Exchange is to provide a highly secure and user-friendly exchange for both the experienced as well the latest entrants into the cryptoverse. With backing from Binance Cloud, the order books at Mandala share the same liquidity available at Binance Exchange. Moreover, the hot wallets at Mandala are insured under the SAFU program.
1. Registering an Account on Mandala
To register an
account on the Mandala Exchange, head over to the main page of the exchange and click on the “REGISTER” button available on the top right. Please note that United States residents cannot currently use Mandala Exchange.
On the “Registration” page, you will be prompted to enter your email address, password, along with an option to enter the referral code. Click here to learn more about Mandala’s Referral Program. Read through and accept the Terms and Conditions and click the “Register” button. You can choose to verify your account by going through the KYC verification process in your account settings. An unverified profile has a daily withdrawal limit of 2 BTC. Higher limits are available for verified profiles.
2. Creating Referral Links
Upon creating the account and signing in, you can access the referral program page to customize your referral link. You can either choose to take 10% commission on the trades done by the people you refer or share it equally with your referrals. This can be changed by toggling between 0% and 5% on the top right part of the screen (orange arrow in the image below).
You can also create and share referral links through this page. Your default referral link is available on the top left (red arrow) and the commission you earned from your referrals is available at the bottom (blue arrow).
3. Deposit Funds
Similar to other exchanges, the wallet tab on the top right (yellow arrow in the image below) allows you to deposit or withdraw your funds and check your wallet balances.
4. Trading Interface and Buying MDX Tokens
Click on the “Markets” tab on the top left of the Mandala Exchange website to see the list of all the trading pairs available.
To trade MDX tokens with USDT, you can click on the MDX/USDT pair listed on the top left of the page as indicated with the arrow below.
The trading page gives you an option to either place a limit order or a market order. More order types will be made available in the near future.
5. Locking MDX Tokens to Unlock Trading Rebates
The “Lock My MDX” tab on the top right shows the amount of currently locked MDX tokens on the Mandala Exchange. Locking the tokens allows you to access rebates on trading fees as per the table listed on the MDX token utility page. Click on the “Global MDX Locked” button to go to the MDX locking page. The minimum amount of tokens you can lock is 20,000. There is no maximum limit on the amount of tokens you can lock.
Upon clicking the “Lock” button, you will be prompted to confirm the amount of MDX tokens you wish to lock. Pay attention to the notes on the screen (shown below) before locking your MDX tokens.
With user-experience and security given the primary focus, we believe that Mandala is a formidable alternate to the top exchanges. With the highly discounted trading rebate tiers, Mandala has one of the lowest exchange trading fees as outlined here. If you need help accessing the Mandala Exchange, we welcome you to either open a support ticket or join our growing discord community and ask for help. With all its upcoming features, Mandala is bound to attract a large number of crypto enthusiasts.