Radar Relay Review
A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of Radar Relay consists of four parts: general information, fees, deposit methods and security.
Radar Relay is one of the decentralized exchanges from USA. USA is one of the bigger arenas in the cryptocurrency world with a large number of exchanges and a (relatively speaking) even larger number of cryptocurrency traders. A few of the cryptocurrency exchanges coming from the USA are Coinbase, Gate.io, Paxful and Bitquick.
As Radar Relay is from the U.S., US-investors are naturally permitted to trade here. Radar Relay does however include a disclaimer in their terms and conditions saying:
“The Site may not be appropriate or available for use in some non-U.S. jurisdictions.”
Therefore, even here, US-investors must form their own opinion on any issues that their state residency may cause.
As mentioned above, Radar Relay is a so called “decentralized exchange”. Decentralized exchanges do not require a third party to store your funds, instead, you are always directly in control of your coins and you conduct transactions directly with whoever wants to buy or sell your coins. Decentralized exchanges normally do not require you to give out personal information either. This makes it possible to create an account and right away be able to start trading. The servers of decentralized exchanges spread out across the globe leading to a lower risk of server downtime. However, decentralized exchanges as opposed to regular top crypto exchanges normally have an order book with lower liquidity than the regular top crypto exchanges.
Radar Relay Fees
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
When withdrawing e.g. ETH, this exchange does not charge any withdrawal fees other than the network fees. The network fees does not become a profit for the exchange but is distributed to the network for confirming the relevant transaction etc.
One might wonder then, how does Radar Relay make money? Well, to our understanding, they don’t. The focus at the moment seems to be to receive a lot of customers. Once that milestone has been reached, Radar Relay might reintroduce trading fees (they previously charged 0.70% for takers and 0.45% for makers), thereby becoming profitable again. 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. Find one by using our Exchange Finder!
Radar Relay Security
We run all exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/). The score in such test is one of many indicators of the exchange’s security. Radar Relay received an F. As in every test, an F is not a good grade. It is below industry average and is thus not a competitive advantage at all for Radar Relay.
Low trading fees are indeed very important for any prospective cryptocurrency investor. All of the following exchanges also – like the above exchange – have very low trading fees (some of them don’t even charge trading fees at all):