Etherdelta has started to suck, but fortunately some of the many projects that we love are starting to come into fruition. The 0x protocol with the ticker ZRX, is working and not only is Bitfinex building Ethfinex on it, there is now also Radar Relay. Radar Relax is an exchange which lets you trade in a peer-to-peer way, much like Etherdelta except better.
RADAR RELAY
So as I said Radar Relay is an exchange which is built on top of the 0x protocol. It's very interesting because of that, because 0x is the first real decentralized exchange protocol that's starting to come into fruition. You may have noticed the recent price rise and this is likely because of it's increasing adoption and popularity. First it was Bitfinex which announced and later launched (in beta) Ethfinex which utilizes the 0x Protocol but now we also have the Radar Relay exchange.
Radar Relay looks to be great! Everything that I didn't like about Etherdelta, Radar Relay seems to fix. And by that I mean mainly the user interface and user friendliness! And, also, the trustworthiness. Etherdelta used to be great, but it has suffered serious hacks and recently has been sold to a relatively unknown party who is now mainly in it for the profit. Trust has been affected, and I personally don't trade there anymore because of it.
That's why I like Radar Relay so much (so far). I haven't actually used it much so perhaps I will find things that I dislike, but so far it looks and feels a lot nicer to handle than Etherdelta ever was.
LEDGER NANO S SUPPORT
I've known about Radar Relay for a while now, but wasn't really interesting due to the fact it was only available if you used Metamask. Metamask is a chrome add-on that lets you operate a wallet through Chrome. It may be fine for some users, but I like to be paranoid with my funds and prefer keeping them on the Ledger Nano S hardware wallet at all times if I can.Now, however, Radar Relay has added Ledger Nano S support! This is super awesome! I finally have my decentralized trading option again, and better than I used to have!
The great thing about trading through the Ledger Nano S on exchanges like Radar Relay (or indeed Etherdelta) is that it is so easy to log in and set up: All you have to do is connect the Ledger Nano S basically, and it recognizes your address and funds. No registration required, no login required other than your Ledger pincode.
HOW TO
So it's not immediately clear how to access Radar Relay with the Ledger. This is one of my few complaints so far, because the site is still very much set up for Metamask users.You just have to switch it to 'Ledger' mode first. This option is 'hidden' in the left-side orange side-pulling menu bar as illustrated in the picture below.
After you click that, a sidemenu opens where you can select the Ledger as your wallet:
Then, if you've opened the Ethereum app on your Ledger device also, you will be automatically logged in and your funds will be displayed and available for trading immediately. All the while they are secured by your ledger!
LOW LIQUIDITY
As with Etherdelta, Radar Relay still suffers from low liquidity. It takes a while before orders go through and the prices often lag behind the rest of the market. This will probably change as the network's usage grows: all the exchanges on the 0x protocol can use eachother's liquidity pool. This means that Radar Relay could be linked to Ethfinex, or perhaps this is already so?On the other hand though, trading through Radar Relay means you don't face withdrawal fees (which are about $10-30 generally per crypto, these days) and the trading fees are currently free on Radar Relay. Do take note: you still do pay for GAS on the Ethereum network I believe, just as with Etherdelta. The exchange itself does not make any money off of that, it goes to the miners.
In any case, I am going to try this exchange out for a while if I'm going to do more trading. It looks like a good solution for me, and Binance has started to annoy me more and more, and I feel less and less inclined to trust them to have my interests at heart. And besides, I own some ZRX tokens, so I might as well use the damn thing, shouldn't I? Besides, trading through my hardware wallet feels like I am already standing with one foot in the future - I think something like this is how we're all going to be trading in due time.
>> Click here to visit the Radar Relay Exchange <<
