Deposit & Withdraws HODLdex.io
Hello, StakeHODL’ers,
Today I wanted to expand on the base functionalities of deposits and withdrawals from the smart contract.
The smart contract could be considered as a form of decentralized savings account. The Ether deposited will stay in your account until you spend it or transfer it back to your wallet.
This is an experience similar to that of an exchange; you deposit assets and withdraw them when trading is over. You can leave Ether in this account as long as you want; however, only the wallet that deposited the Ether can withdraw it.
Deposits
Depositing Ether is a straightforward functionality. You transfer Ether from your wallet to the smart contract.
- Synchronize your wallet to the webpage.
- Click on the ‘Deposit’ button, a pop-up window will open.
- Enter the desired amount of Ether to deposit.
- You cannot deposit more Ether than you have in your wallet.
- Make sure there is some Ether in the wallet for Gas Fees.
- Wait for confirmation from your wallet.
- The Ether will appear in your smart contract balance.
Withdrawals
Withdrawing Ether is equally straightforward. You withdraw Ether from your account in the smart contract.
- Synchronize your wallet to the webpage.
- Click on the ‘Withdraw’ button, a pop-up window will open.
- Enter the desired amount of Ether to withdraw.
- You cannot withdraw more Ether than what is in the account in the smart contract.
- Only the wallet that made the deposit is ever able to withdraw the Ether.
- Wait for confirmation from your wallet.
- The Ether will now appear in your wallet balance.
Short and sweet today. I hope these tutorials are helping you get everything possible out of your HODL account. If you have a topic you’d like me to discuss, please get in touch with me at info@hodldex.io