EtherDelta is a fully decentralized trading platform for Ether and Ethereum-enabled tokens. Funds are held in smart contracts so that only the user has control over them. The platform needs to be used together with a third party wallet, which makes it fairly complicated, but nevertheless it is more secure and private than a centralized exchange. There is no need to create a user account to trade.
EtherDelta is known to be quite difficult to use and some of its requirements are confusing for users. The interface is not very user-friendly and has had various bugs and technical issues. In order to prioritize the mining of their transactions, users have to pay a high Gas fee. For the default, lower Gas price, users should expect quite a long wait for their operations to be completed.
Crypto Currencies Support
- European Union
- Hong Kong
- Most Africa
- Most of Asia
- Most of Eastern European Union
- Most of Latin America
- Most of the Middle East
- New Zealand
- Russian Federation
- United Kingdom of Great Britain and Northern Ireland
- United States of America
- US partial
- Web Interface
Partners and integrated software
EtherDelta security levels are exceptionally high. They offer 2FA and a withdrawal white list option. They use an elastic multi-stage wallet strategy ensuring that 80-90% of funds are kept offline and secure. Also, for withdrawals, users are required to pass an enhanced verification process providing proof of the validity of their identification documents.
The founder of EtherDelta is Zack Coburn from Chicago, USA. Coburn is very active on Reddit and other social platforms to provide help and support for the platform's users. He admits EtherDelta still needs a lot of improvements and is promising to make the service more user-friendly. He is also known for founding Firstblood, a popular Blockchain-based eSports platform.
EtherDelta has created a lot of excitement among Blockchain and cryptocurrency enthusiasts since it is more private than other exchanges, allowing users to trade crypto anonymously. Despite its decentralized nature, in December 2017, the platform was targeted by an attack through which the hacker managed to spoof its domain for a short period of time.
Peer-to-peer transactions on EtherDelta are enabled through smart contracts, a feature of the Ethereum Blockchain. The user needs to integrate an external wallet and can exchange Ether for hundreds of tokens. A user account is not required. The platform provides an Ethereum account with one click that has a public and a private address, from which users can transfer to their external wallet.
Bugs in the platform, slow operations, difficult to use