To become the investor that you always wanted to be, you have to be sure that you are prepared. This means having all the information that you need and a vast knowledge of how this specific market works. Also, you will have to be sure that you are going to be well equipped.
The only way to do this is by knowing the best investments that you can make in tools that will help you to become a better investor. Fortunately, our blog’s mission is to help our readers at times like these, so we review many of these tools here so you will be able to find the best ones. Today we are going to review a new tool that has appeared on the market called Radar Relay.
What is Radar Relay?
Radar Relay is new cryptocurrency software that will enable you to trade ERC20 tokens from your own home without having to go through services like online cryptocurrency exchanges. At the moment, you will be able to trade ERC20 tokens directly from your Web3 of Hardware wallet without the need of a middlemen company.
The product is currently in Beta testing and it will be finished until the first quarter of 2018, so you might want to wait for a few months until you want to use if you are worried about bugs or something like this.
The company that produces Radar Relay is based in Colorado, in the United States and has already developed partnerships with many companies like Blockchain Capital, Digital Currency Group, Batship Crazy Ventures, Kindred Ventures, Reciprocal Ventures and Sparkland.
How Does Radar Relay Work?
Basically, the big idea that moves Radar Relay is to transform you into the cryptocurrency exchange. Exchanges are important to the market, but it is always better when you do not need to use a middleman for any type of transaction and this company enables you to do just this.
What Radar Relay creates is the possibility to send orders to the market. The company does not move your assets, you do that yourself via smart contracts. The only thing that the company does is to find other people whose order match yours to enable this transaction that will be made directly via you and the other investor. Radar Relay uses 0x Protocol to do this.
Your assets will always stay in your wallet unlike it happens in many cryptocurrency exchanges, so even if the system ever goes down, you will still have your money. You will also have access to the API of the program, so you will be able to use it to trade bots or integrate your decentralized apps (dapp) into the program if you want.
How to Invest in Radar Relay?
There is no Initial Coin Offering (ICO) for Radar Relay at the moment of this report, but you will be informed if there ever are any plans.
While the service is still in Beta testing, you can still use it without having to pay any fees. When the service is officially launched, you will not have to pay any value to access this service, but you will have to pay fees for your exchanges. The company states that the fees will be low, though.
The Radar Relay Verdict
Is this product a good tool for you? Yes, it can surely be. If you have ERC20 tokens, which have become an increasingly common type of token, you will be able to exchange them without having to use any service, so yes, this company can be quite useful for you if you want to trade this type of token.
The only downside of this product is that it still is in its Beta testing phase, so you can expect bugs and problems at this moment and the hardware wallet function is still not available. We have found no information about the fees that will be charged by the company in the future, so you will have to wait for more information about this too if you want to know if it will be really a good idea to invest.
Our verdict is that Radar Relay sounds like an amazing product that will help you to have your own cryptocurrency trade at home. Using this app to invest sounds like it can definitely be a very interesting idea depending on the fees that the company will charge in the future, so keep an eye open for news and updates about this company if you are interested in it.