December 31, 2017
January 14, 2018
EtherDelta is an open-source trading platform with diverse features that support small contracts and ERC20 tokens. The trading platform is fully decentralized and does not involve any conventional asset management methodology. It has been positioned as a future standard that embodies the next generation of digital asset exchange.
Ether Delta’s team is comprised of experts in the areas of finance, marketing, and Blockchain technology as well as legal experts. In addition, the members of the team possess deep knowledge of computer science and/or consulting, PR, Blockchain investment, and international trade. Their collective experience in customer development, financial management, and investment maintenance spans over a century.
This company is a decentralized Ethereum exchange that enables users to trade the vast majority of tokens based on this cryptocurrency, such as Iconomi, 1ST, and Augur. The company has only one fee at the present, which amounts to 0.3%. Deposits and withdrawals are free.
The model of centralized exchanges requires traders to deposit their tokens or fiat currency to a private address that is the property of the exchange. They do not actually own their assets – they are merely trading the IOU the given centralized exchange has issued. This carries a very high risk, as evidenced by the downfall of mighty centralized exchanges. As a decentralized platform, EtherDelta can solve all potential issues that may arise. One of this platform’s key benefits is avoiding loss of client funds and assets.
Their decentralized model limits trust-related risks and related exchange operational costs to a great extent.
Another benefit of this trading mechanism is the absence of any temporal or spatial limit. The smart contract technology offers extremely easy traceability and high transparency. These decentralized features enhance the liquidity of the exchange, reducing the probability of price differences during trading transactions.
One downside of EtherDelta is its complex interface. This synopsis aims to simplify it.
To get started with EtherDelta, you need to open an account and transfer Ethereum tokens (ETH) to it. You can use the free MyEtherWallet (MEW) for this purpose.
In the drop-down menu at the top of the website, select the token you would like to sell or buy from. You can execute a “Buy Order” by creating a new order. You do this by filling up the number of coins you want to buy, the amount of ETH you plan to use and the price. This is done manually. All this data is entered in the “New Order” section. After this has been completed, you will see your order in the book under “Buy Orders”.
To withdraw your tokens, deposit all your coins in the EtherDelta wallet from EtherDelta’s smart contracts by clicking the “Deposit” button.
You’re almost set! The last step involves transferring all your tokens to MEW. Its address must be specified in the “Address” field.
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