Yesterday, I wrote an article on alternative routes to obtaining ICO tokens. Today, The Ethereum Network tweeted a post on Token Trader. It is a zero fee, decentralized exchange which provides an open market on Tokens. Trades can only be made using either the Ledger hardware or MetaMask. I personally do not own any Ledger hardware. I do, however, have and know how to create a MetaMask wallet (If you require further instruction, I will provide a link at the end of this article with detailed instructions on how to create one).
This exchange is a decentralized exchange (a.k.a DEX) as mentioned above. There are no risks as far as security breaches are concerned. Security breaches have been an issue with exchanges but this peer-to-peer trading platform gives the investor all the power and control of their assets.
The Token Trader platform does have one limitation. There is only an allowed amount of time to trade. Trading begins 10am-4pm Easter Time only on weekdays. It is not clear as to why there is this restriction, but, it is available and there is no need to complain.
Now, in order to connect to the exchange you will have to link you wallet, being the Ledger or MetaMask wallet, and then you are in control of your account and assets and are now ready to trade. It is recommended to eventually upgrade to a hardware wallet (Ledger hardware) if you are to become a regular trader. The website encourages this to keep your private keys safe in case you have a breach on your personal computer. The process of trading uses smart contracts in order to process the swap. The swap is referred to as an "atomic swap". It is a safety measure in case the transfer of tokens fail, the entire transaction is reversed. This is a great feature especially if you are new to crypto and trading. It essentially protects both parties and each trade has to be approved by each party.
Similar to myetherwallet, each transaction requires GAS to perform each trade. The exchange runs on Ethereum, therefore, you will have to have Ethereum stored in your wallet on this exchange.
I find that this exchange is very well put together. The investor is in complete control of their assets and the actions on this site are relatively clear. Overall, I think this exchange provides each investor with an "ease-of-use" capability as well as security for digital assets. As usual, I recommend each of you to DYOR (Do Your Own Research) and find what is in your best interest. Please refer to the links below for source sites as well as account creation for MetaMask.
---Ledger
DEX Article Source- blog.airswap.io
MetaMask Instructions Below provided by CryptO Doctor on YouTube
