Tokenjar.io Cryptocurrency Review : Does Not Charge Any Trading Fees

About Tokenjar.io 

Tokenjar.io is a robust decentralized exchange for Ethereum and ERC-20 tokens. Based on 0x protocol, TokenJar dedicated to provide superior trading experience for users all over the world. All trades occur directly between the wallets of buyers and sellers. TokenJar doesn’t charge any trading fees. All you have to pay is gas cost.”

TokenJar is a robust decentralized exchange (DEX), built for Ethereum and ERC-20 tokens. It is based on the 0x-protocol. Something unique with this exchange is that all you need is MetaMask. You don’t need to go through KYC, the exchange does not hold your assets at any time of a trade, and there are no barriers for trading.The platform is also available as an app for iPhones or Android phones.

How To  Start With Tokenjar.io

To start trading with Tokenjar.io ,Indian residents first have to sign up for an account by following the steps below.

Step 1. Click on the “Login/Signup” link on the top right hand corner of the Tokenjar.io website.

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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 Tokenjar.io account.

TokenJar Trading fees

When you hear about this exchange’s trading fees, you might not believe what you hear. This is because TokenJar does not charge any trading fees at all. TokenJar is one out of a dozen exchanges or so in the world that doesn’t charge any trading fees at all. Needless to say, this is very consumer friendly and competitive.

TokenJar Withdrawal fees

With respect to the withdrawal fees, at this platform you only have to pay gas fees. This means that the exchange itself does not make any money from your withdrawals, but the fees involved are just the fees you pay to miners in order to process the transaction and incorporate it onto the blockchain. For Ethereum, the gas fee on the date of writing this review (8 October 2019) was 0.004 USD… To conclude, the fees here are insanely competitive!

Deposit Methods

TokenJar does not – like all (or at least close to all) other DEXs – accept any deposits of fiat currency. This means that investors without any previous holding of crypto assets can’t trade at this trading platform. In order to purchase your first cryptos, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency. Find one by using our Exchange Finder!

TokenJar Security

The servers of DEXs 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 DEXs 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 platform, you can do a lot more harm.

Highly-Regulated

If Binance is a highly-regulated, well-run supermarket with elevator music piped from the ceiling, Decentralized Exchanges are the thriving, bustling stalls on the sidewalk outside. The food in the supermarket may be safer, but the prices are better outside. On TokenJar there’s no KYC, no minimum deposit, no listing fees: any shoe-string project is free to list its token, and every barefoot trader can start buying. The only cost for trading is the fee for gas.