ERC20 Exchange Review: Decentralized Ethereum Asset Token Trading?
Are you looking for a great new cryptocurrency exchange to use? Today we will review ER20 Exchange, a new exchange that is focused on ERC20 tokens.
What Is ERC20 Exchange?
Even after years of the cryptocurrency market existing, there are still many centralized exchanges that want to deal with decentralized tokens. ERC20 Exchange was created as a way for people to be able to use a secure exchange because the centralized ones are not secure.
If you have a centralized exchange, the exchange will own the assets and this means that it can easily be hacked, so it will harder for you to make your money secure. A decentralized exchange, on the other hand, will only have your wallet address and it will use smart contracts as a way to make the transactions between you and the people who you will trade it.
The main difference, ERC20 Exchange defends, is that by using a decentralized exchange like it, you will be protected because the money will never leave your wallet before the actual exchange of tokens.
The main values of this company are transparency, privacy, reliability and quality, meaning that it intends to offer a service that is good and that you can always count on.
How Does ERC20 Exchange Work?
This is a decentralized crypto exchange created mostly to trade ERC20 tokens. It uses three different types of contracts: ETC, ETH and UBQ. All the trading aspects are transparent and publicly exposed but the names of the owners of the money are not.
You can use MetaMask or Trezor wallet to use the program and you need either ETH or ETC to make a transaction and start trading. You do not even need to log on the site, just use your wallet and set an allowance of how much you are willing to spend.
After that, the company will use its automated systems to look for the candidates to you. You will be able to create your own account to get access to some other features, though.
It is important to notice that, by being focused on ERC20 tokens, this exchange does not deal in Bitcoins, which are the world’s most popular cryptos right now.
Is The ERC20 Exchange Secure?
Yes. By being decentralized you can be sure that this exchange is considered to be more secure than many other similar companies that you can find on the market that are not decentralized like it.
Because of this, you have a good chance of being protected if you decide to trade your Ethereum-based tokens on ERC20 Exchange.
The ERC20 Exchange Conclusion
If you are not interested in Bitcoin but has a real interest in Ethereum and Ethereum Classic, then there is a good chance that the ERC20 Exchange might be suitable for you.
The company seems to be fairly secure and has a decent structure for those looking for a new exchange.