BTC Fetching...      ETH - Ethereum ETH Fetching...      BCH - Bitcoin Cash BCH Fetching...      LTC - Litecoin LTC Fetching...      XRP - Ripple XRP Fetching...      BNB - Binance Coin BNB Fetching...      EOS - EOS EOS Fetching...      XLM - Stellar XLM Fetching...      ADA - Cardano ADA Fetching...      TRX - TRON TRX Fetching...      BTC Fetching...      ETH - Ethereum ETH Fetching...      BCH - Bitcoin Cash BCH Fetching...      LTC - Litecoin LTC Fetching...      XRP - Ripple XRP Fetching...      BNB - Binance Coin BNB Fetching...      EOS - EOS EOS Fetching...      XLM - Stellar XLM Fetching...      ADA - Cardano ADA Fetching...      TRX - TRON TRX Fetching...      BTC Fetching...      ETH - Ethereum ETH Fetching...      BCH - Bitcoin Cash BCH Fetching...      LTC - Litecoin LTC Fetching...      XRP - Ripple XRP Fetching...      BNB - Binance Coin BNB Fetching...      EOS - EOS EOS Fetching...      XLM - Stellar XLM Fetching...      ADA - Cardano ADA Fetching...      TRX - TRON TRX Fetching...      BTC Fetching...      ETH - Ethereum ETH Fetching...      BCH - Bitcoin Cash BCH Fetching...      LTC - Litecoin LTC Fetching...      XRP - Ripple XRP Fetching...      BNB - Binance Coin BNB Fetching...      EOS - EOS EOS Fetching...      XLM - Stellar XLM Fetching...      ADA - Cardano ADA Fetching...      TRX - TRON TRX Fetching...      BTC Fetching...      ETH - Ethereum ETH Fetching...      BCH - Bitcoin Cash BCH Fetching...      LTC - Litecoin LTC Fetching...      XRP - Ripple XRP Fetching...      BNB - Binance Coin BNB Fetching...      EOS - EOS EOS Fetching...      XLM - Stellar XLM Fetching...      ADA - Cardano ADA Fetching...      TRX - TRON TRX Fetching...      BTC Fetching...      ETH - Ethereum ETH Fetching...      BCH - Bitcoin Cash BCH Fetching...      LTC - Litecoin LTC Fetching...      XRP - Ripple XRP Fetching...      BNB - Binance Coin BNB Fetching...      EOS - EOS EOS Fetching...      XLM - Stellar XLM Fetching...      ADA - Cardano ADA Fetching...      TRX - TRON TRX Fetching...      BTC Fetching...      ETH - Ethereum ETH Fetching...      BCH - Bitcoin Cash BCH Fetching...      LTC - Litecoin LTC Fetching...      XRP - Ripple XRP Fetching...      BNB - Binance Coin BNB Fetching...      EOS - EOS EOS Fetching...      XLM - Stellar XLM Fetching...      ADA - Cardano ADA Fetching...      TRX - TRON TRX Fetching...     

Fees

Taker fee

0.00%

Maker fee

0.00%

Withdrawal fee

Ethereum 2.2E-5

Funding methods

Wire Transfer

Cross

Credit Card

Cross

Crypto

Yes

US Investors Permitted

Yes

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TokenJar 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 TokenJar consists of four main parts: general information, fees, deposit methods and security.

General Information

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.

The exchange does not explicitly state that US-investors are prohibited from trading. Accordingly, we do believe that US-investors can trade here.

General information on DEXs

DEXs are becoming increasingly more popular, mostly due to the following factors:

  • They 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.
  • They normally do not require you to give out personal info. This makes it possible to create an account and right away be able to start trading.
  • Their servers spread out across the globe leading to a lower risk of server downtime.
  • They are essentially immune to hacker attacks.

However, DEXs normally have an order book with lower liquidity than centralized exchanges.

Other Decentralized Exchanges (DEXs)

As mentioned above, the DEXs are definitely gaining market shares against centralized exchanges. You have probably heard of at least one of the following exchanges that are all DEXs: Binance DEX, ViteX, EtherDeltaBiboxBitshares Asset ExchangeWaves DEXBancor NetworkOpenLedger DEXStellar DEXIDEXToken StoreBisqNxt Asset ExchangeCounterparty DEXBurst Asset ExchangeOmniDEXCryptoDerivativesAirSwap.ioFcoin ExchangeBarter DEXSwitcheo NetworkDEx.top, StellarTerm and Ethermium.

TokenJar 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 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 TokenJar:

TokenJar Trading View

TokenJar Fees

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.

Also, if you make a trade at a DEX, 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 platform, however, you normally hold assets at that exchange. That is, until you withdraw them to your private wallet. A centralized platform can therefore be hacked and your funds held at such exchange can be stolen.

As this exchange is a DEX, we feel that it is appropriate to award it a security score of A+ (regardless of its score in the Mozilla Observatory-test).

***

Finally, as mentioned above, this is a DEX. DEXs are still a minority on the exchange market, with the centralized exchanges still dominating the field (mostly due to better liquidity). In any event, if you’re looking for a DEX, you could also check out the following quite popular ones:

  1. DDEX
  2. Counterparty DEX
  3. Bibox
  4. EtherDelta
  5. AirSwap.io
  6. Fcoin Exchange
  7. Switcheo Network
  8. Aphelion
  9. ViteX

TokenJar Review - Cryptowisser Logo