Trading on Etherdelta is cool, but slow, right? Well, it's a LOT faster now! This is due to the Ethereum Byzantium hardfork that took place a short time ago. This made several improvements to the Ethereum blockchain, and now it is both cheaper as well as faster than before.
As you may know, everything you do on Etherdelta is done on the Ethereum blockchain. So when the platform is slow, this is mostly due to the slowness of the blockchain. Users on Etherdelta had to get used to paying on average 8 gwei in gas cost and still often had to wait several minutes for each action to take place. A couple weeks ago the total pending tickets were up as high as 8000-9000, forcing users who wanted a speedy transaction had to pay as much as 20-30 gwei in order to get through!
With this new Ethereum hardfork the problem of pending tickets seem to have been tackled! The total pending tickets has gone down to about 100 or below, meaning that you never have to pay more gas in order to get your transaction picked up. A gas price of 1 gwei is now enough to get your transaction through, and usually faster than the 8 gwei did before! 1 gwei is about $0.01. That's amazingly cheap!
This means that transferring your funds from your private wallet to Etherdelta, placing a buy order, then transferring your funds back could be as cheap as $0.02!!!
Of course you have to keep in mind that Etherdelta does charge a fee if you fulfill one of the existing buy orders: 0.3% of the total transaction. Buy placing your own buy or sell order is free of charge, but you have to wait for it to fill of course which can take hours or days (or it may never). It's up to you to decide how much in a rush you are, and what price you're willing to pay of course. Yet, if you set your own buy/sell orders (which I do; patience!), with this Ethereum upgrade Etherdelta could be the cheapest place to trade right now in terms of trading costs. And of course, all traded securely from your Ledger Nano S ! (get one if you haven't got one)
If you are interested in trading on Etherdelta, please have a look at this post and guide I wrote a while ago on how to get started. Etherdelta has a steep learning curve and is NOT for newbies. But it's a great place to get coins before they hit the major exchanges, and offers interesting features like these super low trading costs!
Ui is quite buggy on mobile devices :/
Yeah but don't use your mobile phone really, they're not safe.. lots of apps in the app stores have spyware or worse in them. Phones are easily compromised.
I find it very good, but it makes me complicated to operate in this exchange. Thank you
It takes a little getting used to at first, but once you get the hang of it it's actually very easy. I must say though I am using a Ledger Nano S and it works like a charm with it... I don't even have to login, it automatically recognizes my account when I connect the ledger. I would definitely recommend getting one if you don't have it.. it will make trading secure.
img credz: pixabay.com
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