🏁Beginner's Guide — Zero to One
How to use El Dorito
Last updated
How to use El Dorito
Last updated
In this guide we will:
Create a Wallet (Keystore).
Fund the wallet.
Perform a swap/trade.
Here is the video guide to create a Keystore wallet on El Dorito. If you prefer a written guide, please continue scrolling.
Visit El Dorito WebApp, On the top right corner press the "Connect Wallet" button to connect your wallet.
A pop-up will appear. Choose "Create Wallet".
You'll be presented with a 12-words seed phrase. Make sure to write it down or save it somewhere safe. Your "seed phrase" can be thought of like your recovery password. You will only get it once, so don't lose it.
If you lose your keystore or forget your password, the only way to recover your wallet is using the seed phrase. If you lose that too no one will be able to help you, and your funds may be lost forever. Do not ever share your seed phrase with anyone.
You are now ready to get your "Keystore", a file that will download to your computer storing your keys. Linking your Keystore using a password you will now set is how you "log in" to use your wallet on El Dorito.
Create a password for your Keystore. Make sure it's a safe password that you can REMEMBER. Once you press Download you'll be prompted to save your Keystore file on your computer. Choose a safe location to save it.
Congratulations! Your wallet has been created and you can now interact with El Dorito, all Maya Protocol's and THORChain Front Ends using your Keystore.
Connect your wallet by clicking "Connect Wallet" (top right on our home page). Select "Keystore" to connect the wallet you just made.
Keystore does not support Polkadot ($DOT) at this moment. You can utilize XDEFI wallet for storing $DOT.
Select "Continue" to connect all chains (by default it will link all available chains)
Now click "Select Keystore File" which will attach your Keystore file, and enter the password you set to "log in" to your wallet. Your wallet is now connected to El Dorito! Click the top right "Wallet" button to go to the Wallet page where you can check your balances and see your addresses.
Congrats, you are now logged in, with a wallet that is completely and totally yours
To add funds, Bitcoin in the case above, search for the asset, and copy the address by clicking the double squares icon. Have Bitcoin on Coinbase? Send it to your Bitcoin address and it will become fully yours (not the property of Coinbase).
User friendly "onramps" like Coinbase, Venmo, or CashApp can be the easiest ways to buy Bitcoin with a credit card or bank transfer, to then be transferred to your Keystore wallet.
If you would like to use our plug-in for buying crypto with a credit card or bank transfer, click our CASH tab from the top menu and follow the instructions from our onramp partner, Kado (think of them like our trusted banking partner).
Once you've sent a transaction from any of the above sources to your wallet, head back to El Dorito and press refresh. If you don't see your assets immediately, DON'T PANIC, transactions can take varying amounts of time for a number of reasons, sometimes Bitcoin can take as long as a 30-60 minutes. Centralized exchanges can sometimes be slow to release your funds.
Your balance will update when the funds arrive and now you can track, swap, or gain yield with your assets.
Some chains like Bitcoin or Ethereum can take a relatively long time for the transaction to confirm and receive crypto into your wallets.
Now that you have a wallet, and funds, you're ready to make your first swap.
From the top Menu press "Swap".
In the swap page, open our asset selector to choose the Chain (left column) and Asset (right column) you would like to swap to and from.
We have integrated Maya Protocol, Chainflip, Rango and THORChain as backends to support our routing functionality. Depending on which assets you are swapping to and from, there could be multiple paths to make your swap. Our Smart Router dKit will choose the most optimal route for you by default.
Some asset combos do not have a route yet and will require you to make an intermediary swap, like a layover on the way to your destination. For example to get to from Ethereum to SolMemeToken, you would have to go Ethereum->Solana-->SolMemeToken.
When you have selected your two assets, enter the amount in the top field.
Press "Swap"
A new tab will open showing the blockchain explorer to follow the status of your transaction.
Once transaction is confirmed, go back to El Dorito, press "View Wallet" on the top right, refresh wallet, and you should see your updated balance.
Cool Feature: Direct Swap or "SwapNSend"
El Dorito supports Custom Recipient addresses. This means swap from one wallet into a different asset in a different wallet, all in one transaction. By default, the wallet that is connected will receive the desired crypto asset, but if you would like to send the received asset to another address, simply click the existing address then enter the custom recipient address.
Example: If I have ETH and want to send my friend BTC, I can put my friend's BTC address as the recipient of a swap. That means when I initiate the ETH->BTC swap, it goes directly to his BTC wallet, all in one transaction!
Cool Feature: Direct Swap or "SwapNSend"
El Dorito supports Custom Recipient addresses. This means swap from one wallet into a different asset in a different wallet, all in one transaction. By default, the wallet that is connected will receive the desired crypto asset, but if you would like to send the received asset to another address, simply click the existing address then enter the custom recipient address.
Example: If I have ETH and want to send my friend BTC, I can put my friend's BTC address as the recipient of a swap. That means when I initiate the ETH->BTC swap, it goes directly to his BTC wallet, all in one transaction!
At this point, you're off to the races. We're excited to have you with us. Reach out to our team for help or support ANY TIME.
With Love,
—Teamdorito
For further assistance with creating a wallet, swapping, or providing liquidity, please visit El Dorito's Telegram channel and open up a Support ticket in our Help Desk channel for assistance with issues.
