How to Connect to Hyperliquid using Enkrypt
Wanna try Hyperliquid? Easily connect to Hyperliquid in a matter of minutes with the help of our guide!
Hyperliquid is a quick and cost-effective decentralized exchange for perpetual futures trading, built on its own advanced Layer 1 blockchain. It combines the operational transparency of blockchain with the efficiency of traditional centralized exchanges, bringing together the advantages of both decentralized and centralized platforms.
Enkrypt is a multichain, non-custodial, and open-source web3 browser wallet built by the team behind MEW (MyEtherWallet). With Enkrypt, users and developers can generate accounts, manage tokens and NFTs, and interact with DApps on Arbitrum, Solana, Ethereum, as well as Bitcoin, Substrate and any EVM chains. Follow the instructions in this guide on how to use Enkrypt with Hyperliquid!
Connecting Your Wallet
First, head to Hyperliquid then click ‘Connect wallet’.
Disclaimer: Keep in mind Hyperliquid is a third-party DApp and is not affiliated with MEW in any way. Using DeFi involves some inherent risk. Please do your research and proceed at your own discretion.
Select ‘Enkrypt’.
On the Enkrypt pop up, select the account you want to connect with then click ‘Connect’.
Review the ‘Terms of Use’, select the checkboxes then click ‘Accept’.
Sign the message on the Enkrypt pop up to accept the terms of use.
Depositing USDC
You will need USDC to deposit in order to trade, you can get this token by swapping your ETH or other tokens on Enkrypt. You can also buy crypto directly in the Enkrypt wallet! Follow this guide to buy crypto in Enkrypt or this guide to swap.
Depositing your USDC will enable the ability for you to start creating perpetual trades.
Select the ‘Deposit’ button on the trade page.
You will need to establish a connection with the exchange, click ‘Establish Connection’.
On the Enkrypt pop up, click ‘Sign’ to sign the message.
Enter the amount you want to deposit then select ‘Deposit’.
Confirm the transaction on Enkrypt by selecting ‘Send’.
Congrats, you just deposited your USDC into Hyperliquid!
Withdrawing USDC
Select the ‘Withdraw’ button below the trade form.
On the pop up, enter the amount you want to withdraw then click ‘Withdraw from L1’.
On the Enkrypt pop up, sign the message by clicking ‘Sign’.
The withdrawal is now submitted and will take about 5 minutes to be completed.
You will see your USDC in your Enkrypt wallet once it has been withdrawn.
Perpetual Trading
On the right side of the trade page, you can select which margin mode, amount of leverage and position mode at the top of the trade form.
Click the ‘Cross’ button to change the margin mode. We will leave it on the ‘Cross’ mode for this example.
Click the ‘20x’ button to adjust the leverage amount. We will leave it on 20x for this example.
Click the ‘One-way’ button to change the position mode. For this example, we can only leave it on ‘One-way’.
You can select which type of order you want under the perpetual options. We will leave it on ‘Market’ and a ‘Buy / Long’ position.
You can select if you want to order in ETH or USD. We will use USD.
Enter the amount you want to order. At the bottom of the form, it will display the details of your order.
Click ‘Place Order’ to place your order.
There will be a pop up that will ask you to confirm your order. Click ‘Buy / Long’ to confirm the order.
Underneath the chart, you will see your order under the ‘Positions’ tab.
Clicking on the pencil icon at the right of the order will pop up the options to set a stop-loss and take-profit.
Closing an Order
You can close your order by selecting the ‘Market’ or ‘Limit’ option under ‘Close All’ on the right side.
Selecting ‘Market’ will bring up the Market Close pop up. Enter the amount you want to close then select ‘Market Close’.
Selecting ‘Limit’ will bring up the Limit Close pop up. You can select the price you want to close at and the size then select ‘Confirm’.
You should see at the bottom right a pop up that displays the amount closed and the price.
View Portfolio
Click ‘Portfolio’ in the navigation bar.
Here you can view the stats on your wallet and deposit, withdraw, send or transfer your available USDC.
Thank you for checking out our guide on How to use Hyperliquid with Enkrypt! Don't forget to download Enkrypt for a seamless web3 multichain wallet experience. We would love to hear from you on our social media about any guide suggestions you have for the future. Also, if you enjoy using mobile cryptocurrency wallets, give our MEW Mobile app a try, it's available on both iOS and Android platforms!