The CEX to DEX journey showcases how to move funds from a centralized exchange (Coinbase, Binance, etc.) to the XRPL while holding full custody of your funds.
Throughout this journey, we will be going over how to gain full control of your assets (self-custody) and deploy your assets onchain.
Terms to Become Familiar With
Decentralized Exchange – A decentralized exchange (DEX) is a peer-to-peer marketplace where users can trade cryptocurrencies directly without a central intermediary or authority.
Centralized Exchange – A centralized exchange is a digital marketplace, such as Binance or Coinbase, that acts as an intermediary to buy, sell, and store digital assets.
Self-Custody – Self-custody in cryptocurrency means holding and managing your own private keys, granting you 100% control over your digital assets without relying on third parties like centralized exchanges.
Part One: Moving Your Funds from a CEX to a DEX and Storing Them in a Self-Custodial Wallet
To prepare for this journey of moving your funds off a CEX, navigate to https://joeywallet.xyz/ and download Joey to your respective mobile device (Android or iOS).
Once you have downloaded Joey Wallet, walk through the initial onboarding within the app.
Once you have created your wallet, you'll notice a large button in the center of the screen that says "Back Up Your Wallet." Please store your mnemonics offline in a safe place.
Now navigate back to the centralized exchange where your funds are stored to begin the process of moving your funds to Joey Wallet.
Most CEXs offer a similar experience, but within this video we showcase the flow for Coinbase.
Steps to Transfer Your Crypto
1. Copy your wallet address within Joey Wallet.
2. Go back to Coinbase and click the "Send Crypto" button.
3. Paste your Joey Wallet address within the Send Crypto panel.
4. Make sure to select XRPL as the chain you want to send the funds on.
5. It will ask for a tag, but since you are sending to a self-custodial wallet, you can disregard this. Tags only come into the picture when you send to a centralized exchange.
6. Input the amount you would like to send to your Joey Wallet. (We suggest you do a test transaction of 1 XRP, or the minimum amount you can send, to confirm everything is entered correctly.)
7. Click "Preview" so you can double-check that everything looks good.
8. Once everything has been double-checked, click the "Send" button to send your funds to your Joey Wallet.
9. Navigate back to Joey Wallet and your funds should be there.
You're In Control Now
Congratulations — you have successfully gained full control of your crypto assets. In the next videos, we will show you how to conduct swaps, log into platforms that exist on the XRPL, and become an XRP user instead of just a holder!
This is the foundation of true financial sovereignty. Your keys, your coins. Your control, your responsibility. Welcome to self-custody.
