Etherdelta is a fully decentralized exchange, this means that ETH addresses are used to store the tokens that the user wants to buy or sell. This ETH address consists of a private key that is provided to us the first time we create the account and that in case of losing it would result in the loss of the funds it contains.
Although it may seem complicated this is done for a single reason that is security. Thanks to this method the user makes sure that the funds never enter other people's hands until they have been sold or bought in the market, this is what is really fascinating about the decentralized exchanges. Unlike centralized exchanges, it is not possible for a hacker to steal all the users of the exchange.
Another feature of Etherdelta is that it supports all ETH tokens and every transaction is verified by the Ethereum network through a smartcontract. Review collected by and hosted on G2.com.
Unfortunately, exchanges of this type have a large number of drawbacks that arise from a sacrifice to improve safety.
- The volume of sales and purchases in this type of exchanges is really very low so it can take days, even hours until we get our order to be successful.
- The difficulty for inexperienced users is very high, personally at the beginning it cost me to adapt even being an experienced user. Review collected by and hosted on G2.com.
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