Advanced cryptocurrency trading: How to get the BEST deals with THIS tool

Hey guys, and welcome to my new series on advanced trading. These are tips and tricks I've accumulated over the past year in decentralized finance, and they will significantly make your trades better by either saving up money or by making sure a transaction is going to go through. Now, in the first episode that we're talking about today, we're going to talk about getting the best deal. This is one time whenever you trade, a lot of times you're going to not get the best rate that you see reported on CoinGecko or whatnot. You're going to pay a little bit more and you're going to wonder, what am I paying more for this? And in this particular example today, we'll show you how I can save up to $200 something dollars, $260 in this case, on particular trades when you get the best deal. I almost use this on a daily basis to get the best rate and to get the target price I want for a coin. So I'll go through some of my strategies that I'll use for this and some of the situations when it's super powerful. The reason for this series, obviously, is not to promote something I'm not sponsored by any of these exchanges. But really to show you guys some of the advanced tools I use to save myself a little bit of money. And because there's no one solution to deal with them all, there will be I'll cover a few tools and you will have to be able to compare some of them sometimes. And this is why and you know, it's we're still in a point in crypto where there's no one best thing for everything. And the smart people will have to figure out what works best for them. So I'll also highlight when you know, something like one inch is very, very powerful. And also at times when you just should just forget about it, don't bother using it. And we'll be I'll be very, very clear in this video, too. So if you like tips and tricks on advanced trading, we're going to cover more topics in the future. So I will really appreciate if you click the like button down below. If this video helped you and also if you subscribe to this channel because while you're going to get more updates like this and more tricks to help you really beat the market when it comes to trading. Anyways, without further ado, let's get started. So like I said, at the start of this video, this is about getting the best deal. And to demonstrate the power of this, I'll give you an example right off the bat. So say, for example, I'm interested in buying the sake token and I want to buy $20,000 worth. So I wanted to exchange the defy exchange aggregator. I'll be paying, I'll be getting 74,220 tokens for this. And if I was using unit swap just by itself without exchange aggregation, I will not be getting this good deal. So for the same quantity, I'll be paying more. I'll be paying exactly $374 more. So I'll be paying $20,374.4 for the exact same amount. The reason this happens and the reason why I can get a better deal on one inch is because it aggregates and combines multiple exchanges. And that way it gets you the best rate. So you don't have to compare between exchanges. And it also taps into multiple exchanges at once. So that means if you're ordering a large amount, like say $20,000, then it just routes it through different and combines different good rates together to give you an even better rate. If that makes sense. So the beauty of this, of course, is this is all done in the back end. So when you're actually using a one inch exchange, when you're using defy aggregation, it works pretty much completely the same. Like in normal exchange, you only have to enter what coin you want to buy and what coin you're going to start spending. And then, well, boom, Bob's your uncle. It gives you the best rate. It even tells you kind of what are the choices, what, how, how much you save relative to other exchanges. So I think that's one of the tips trick trick here. So I'll go over quickly how to use everything. I'll go through the process. And then I'll talk a little bit about some advanced strategies here as well. So how do you use one inch exchange? Well, it's super easy. You just opened the link. I'll post a link down below and you just directly open it up and it'll become exactly like this interface. Now, when it comes to opening up this interface, it's pretty simple. You select what you pay. So what you're going to spend to trade and the token that you're going to buy. You're allowed to buy almost every single token. So you can either select it from the list of tokens here. You can search for a, say, for example, if you want chain link, well, link is up here. Chain link is here. Or the other option is if this is not on the list, if you can't find it, then you can go say to coin gecko and click on the chain, the coin that you want to trade or what you want to buy and then, uh, directly add it on. So you can just find the address on, um, the contract place on coin gecko. So you can search for whatever token you want, click copy to copy address and then paste it in. Right. So you can just put, put it here, paste that dress in, it'll add it as a custom token. Pretty easy. And once you've got that set, you just click swap token and you're pretty much good to go. I'll give you a final confirmation. So I'll tell you what rate you're purchasing at, at the minimum of received for the sake token. It also tell you the price impact of what's going on. You know, all the statistics and data could confirm to swap sign it on your wallet. And you're pretty much good to go. You bought your sake done deal. Now that's pretty darn simple. I mean, if you just want to trade and you want to have a good rate, most of the time, one inch to one inch swap will give you the best rate. I'll select the best exchange for you and we're good to go. But you know, on this channel, we typically go the extra mile and explain to you a little bit about advanced strategies here. When this is very powerful and why it's powerful. So first and foremost, let's just go back to the previous example of sake token. Something that you want to notice here is the route at which it goes into. So in this case, it will use sake swap to do the transaction because it figured out that the most liquidity is there. Something that you'll notice is that if you're buying a bigger quantity, so say for example, 10 Ethereum worth is worth. This is where one inch becomes super powerful because it can actually split that certain transaction into two exchanges. So in this case, it will go for both unit swap and sake swap. So I'll use both of these exchanges. It'll even tell you how much it's using for both and why it's getting a better rate. So let me just do a quick refresh here. Those numbers are a little bit more reasonable. And this is typically what you have to do sometimes too. It will always be live. You'll always have to click refresh once in a while, but in a backend, it will always do the hard work for you to try to split the order. So you get the best rate. This is extremely useful if you want to go for larger quantities, because as you increase the amount that you want to buy, while liquidity really does become an issue and being able to split between multiple exchanges is super important. Now there is a drawback as well. So as you aggregate with more exchanges, you will have a higher estimated fee. So you can kind of notice that before, if you're trading a small amount of Ethereum, your fee is around 40 or $46. But if you're trading a larger amount and if going through more and more exchanges, that fee also increases. So this is something to watch out for when you're trading with one inch exchange, which is that it will add costs, add additional transaction costs to us. However, on the flip side, you do manage your save. You do save on the rate. So here it'll give you an estimate of how much you'll save. I don't always trust this number. So you can probably see sometimes I refresh this a lot and that's because the estimates sometimes are off. So what I typically do is I just kind of copy the same amount, use Uniswap itself, and it will give me a proper quote for this too. So say for example, for the exact same trade I'm doing right now, if I'm trading for this amount, I just copied over, I'll actually be paying 0.5 ETH more, which is actually quite bad to be honest. So this is a clear case where one inch is going to do a lot better than purely a Uniswap. So this is a clear case where this aggregation really works and it will allow you to enter positions with the amount, the quantity that you want and manage to save money. The last ending note I would say when it comes to strategy for one inch is I always look at the fee before I process a transaction. So if the fee is extraordinary large, or if the amount that I save doesn't justify the increase in fee, I won't go for one inch. So I'll just leave that out there as well. There are situations when just using plain vanilla, plain old Uniswap is better or plain old sushi is better. Yeah, it really kind of depends on the market at that time. And this is why it's a very situational thing where why I kind of compare between different exchanges a lot. Is it tedious? Okay, a little bit, but I do end up saving 50 to $100 per trade. And that actually adds up to a lot over the long run. So that's why I kind of find this really powerful. And the second reason why I find this powerful right now is because of that split between Uniswap V2 and V3. So many times you can tap into both liquidity pools and get a better rate this way. I hope this video helped you understand a little bit more about what's going on and you can get a better rate this way. We're going to cover a lot more in the future, say, for example, limit orders. And what's very important is maybe having transactions or trades that don't fail. All right. We've had this issue a lot come up. People failing the transactions, losing 20, 30 bucks each time they fail. And is there a way around it? Yes, there is. So stay tuned to this video series on advanced trading. I hope you guys enjoyed it. If you did, make sure you smash the likes and subscribe to the channel. We'll have more coming up soon. And once it's all done, I'm going to put that on the playlist up here and you can just go through that, increase your skill and I hope it's useful. So guys, thank you so much for watching. See you next time.