UPDATE 1 November 2021: Radar Relay is apparently on another mission now, namely to build their next financial system at Core Scientific.
Accordingly, we have marked this exchange as "dead" and moved it into our Exchange Graveyard.
To find a reliable exchange where you can start an account, just use our Exchange Filters and we'll help you find the right platform for you.
RADAR RELAY Review
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.
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. On the date of last updating this review (21 September 2021), the exchange was listed as an untracked listing on Coinmarketcap.com and there was no information on the trading volumes at CoinGecko either.
Some of the most important features of this trading platform is that there are no signups, no deposits, no withdrawals and an off-chain orderbook, as described in the below picture.
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.
RADAR RELAY Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the trading views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at RADAR RELAY (in the platform's "classic mode"):
The following picture shows the new version of the trading view:
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
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, we should instead call it “transfer fees”.
When transferring e.g. ETH, at RADAR RELAY, this exchange does not charge any fees other than the network fees. The network fees do 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. 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
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.
If you make a trade at a decentralized exchange, the exchange itself never touches your assets. Accordingly, even if a hacker would somehow be able to hack the exchange (in spite of the above), the hacker can not access your assets. If you make a trade at a centralized exchange, however, you normally hold assets at that exchange until you withdraw them to your private wallet. A hacker can therefore hack a centralized exchange and steal your funds held at such exchange. This is not the case with respect to decentralized exchanges.