Radarrelay.com is a decentralized exchange, which means that it uses smart contracts to transfer digital assetrs directly between traders. Another specific feature of this crypto service is that traders don’t need to register an account with Radar Relay. Instead, they simply have to (install and) connect their external wallets to the exchange.
Radarrelay.com is a non-custodial and peer-to-peer relayer built on top of the 0x protocol. They display and manage orders but do not hold assets or execute trades ourselves. When users find and complete orders they are settled on the Ethereum blockchain via 0x smart contracts.”
How To Start With Radarrelay.com
Step 1. Click on the “Login/Signup” link on the top right hand corner of the Radarrelay.com website.
Step 2. In the form, fill in your first name, last name, mobile number, email ID and password.
Step 3. If you have a referral code, enter the code while creating your account.
Step 4. Submit the form and wait for an activation email to be sent to you.
Step 5. Click on the “confirm email” link in the activation email.
Step 6. After your account is activated, you’ll be sent a 6 digit one time password (OTP), which you have to enter after logging into your Radarrelay.com account.
Radar Relay Trading fees
At this exchange, users don’t pay any trading fees at all. This is incredibly competitive. The global industry average trading fee is 0.25% and 0.00% is thus a big difference from that.
Radar Relay Withdrawal fees
As the users of this exchange trade directly from their respective wallets, it is actually incorrect to speak about “withdrawal fees” as that expression supposes that you withdraw your assets from the actual exchange. And, as you don’t do that when dealing through Radar Relay, they should instead call it “transfer fees”.
One might wonder then, how does Radar Relay make money? Well, to understanding, they don’t. The focus at the moment seems to be to receive a lot of customers. We’ll have to wait and see how everything develops.
This trading platform does not accept any deposits of fiat currency. This means that new cryptocurrency investors (i.e., investors without any previous holdings of cryptocurrencies) can’t trade here. In order to purchase your first cryptocurrencies, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency.
Unlike what happens in most centralized exchanges, users at Radar Relay don’t have to give their private keys to anybody. Instead, they control their coins in their own wallets themselves. Currently, Radar Relay has integrated browser-based wallet MetaMask, as well as hardware Ladger wallet. The latter even allows ledger users to trade funds directly from one hardware wallet to another, which is quite revolutionary.
While Radar Relay is in beta version, it charges no fees, except gas, which goes for miners on the Ethereum network. This is quite an attractive offer, as almost all exchanges charge both trades and withdrawals.
ERC20 have become an increasingly common type of tokens and Radar Relay has listed quite a lot: 0x, BAT, OmiseGo, Augur, Maker, Dai, Zilliqa and many other less popular ones. Currently, the most actively traded pairs are DAI/WETH and SPANK/WETH.
Radar Relay Security
The servers of decentralized exchanges normally spread out across the globe. This is different from centralized exchanges that normally have their servers more concentrated. This spread-out of servers leads to a lower risk of server downtime and also means that decentralized exchanges are virtually immune to attacks. This is because if you take out one of the servers, it makes little to no difference for the network of servers in its entirety. However, if you manage to get into a server at a centralized exchange, you can do a lot more harm.