How to Use Radar Relay Exchange?
Decentralized exchanges like Radar Relay Exchange make peer-to-peer cryptocurrency trading possible. Technically speaking, it competes with EtherDelta/ForkDelta, OasisDEX, Kyber, and IDEX among other first-generation decentralized exchanges.
Let us learn more about the key features of the Radar Relay Exchange and how to use it.
The Radar Relay software allows users to trade ERC20 tokens right from their wallets. Against WETH and DAI, tokens are matched. Trading doesn't require registration. There is no need to make a deposit to the exchange's account because every transaction is performed directly from the user's wallet. Tokens can also be transferred directly between wallets.
In terms of trading volume, Radar Relay not only surpasses them on a 24-hour basis but also successfully takes on major centralized exchanges like the UK-based CEX.IO.
Key Features of Radar Relay Exchange
The user tokens are never taken into possession by the Radar Relay, which just allows wallet-to-wallet trade. Users don't need to register accounts, provide confidential details, or make deposits in order to trade using their Ledger, Metamask, or Trezor wallets.
Radar Relay has a user interface that is well-designed and has many features typical of a decentralized exchange of the future. These consist of depth charts, order books, order books, price charts, market trading charts, and extensive charting choices.
Additionally, Radar Relay makes its API available for use, enabling the integration of trading bots and automated trades.
While the 0x Protocol transports tokens between wallets, the platform relays orders across peers. As relayers link to one another, share order books and expand their liquidity pools, a high degree of liquidity is made possible.
Radar Relay gives users access to a wide variety of trading options, including fee-free trading of more than 190 cryptocurrencies and tools including limit and market orders, order sharing, and in-app transfers.
Users may send support tickets on the Support page, and a support team is ready to address any questions or problems. A comprehensive list of FAQs, a resource page with links for learning, a Twitter account, and a Telegram group are all included in the customer support area.
Connecting Your Radar Relay Exchange Account To ZenLedger For Your Crypto Tax Documents
As one of the most comprehensive cryptocurrency tax software options on the market, we have import instructions for well over 400+ exchanges.
Within ZenLedger, on the Import Transactions page and Exchanges tab, select the Exchange you want to import. Then you'll see a table that outlines the possible methods. For many centralized exchanges, we support a direct API code import, while others may require a CSV import. Decentralized exchanges may require a wallet address.
To import your transactions from an exchange, simply navigate to the [Exchanges] tab of the [Imports] page. Select the exchange that you are looking to import, (Radar Relay, in this case) and instructions will be provided for that specific exchange!
How to Use Radar Relay Exchange?
Using the Radar Relay Exchange requires four simple steps:
- Launch the Radar Relay Exchange App
- Connect your Wallet
- Wrap ETH
- Tradable Tokens
Launch the Radar Relay Exchange App
Visit the Radar Relay Exchange. Click on the green “Open App” link, and a new window will open.
Connect your Wallet
A pop-up set-up Guide will then appear, giving you the choice of:
- Watching an "Overview" video
- Connecting a wallet
- Wrapping ETH
- Enabling trading
The next step is to choose a wallet to connect to. The simplest method of logging in is through Metamask, and when you do so, Radar Relay will be instantly connected to your account.
You'll be asked to package ETH after selecting "Next."
The request must be confirmed in your Metamask account once you enter the desired amount of ETH and click the green "Wrap" button. You can click "Next" once this is finished.
Before the smart contracts can operate, you must authorize the app to exchange your tokens.
Then, check and approve your Metamask account by clicking the green "Next" button. After that, you may use the trading dashboard to choose and trade your desired tokens whenever your tokens are ready to be traded.
The Bottom Line: Why Choose Radar Relay Exchange?
The success of relayers as a group may be benefited from acquiring and keeping ZRX tokens, despite the fact that Radar Relay does not have its own token or coin and that individual investors are unable to participate directly in Radar Relay.
This is due to the fact that transaction fees are paid using ZRX tokens, which will appreciate in value when trade traffic switches from centralized exchanges to relayers constructed using the 0x protocol.