In today's article, I will introduce you to a decentralized exchange - Decentralized Exchange (DEX). That's the Fork Delta exchange.
- 1 What is Fork Delta?
- 2 Security on the Fork Delta exchange
- 3 Review the Fork Delta exchange
- 4 Instructions on how to use the Fork Delta exchange
- 5 Frequently asked questions when using Fork Delta
- 5.1 Does Fork Delta platform support credit card transactions?
- 5.2 Where can I contact with when there are problems?
- 5.3 Which coins are supported and loaded by the exchange?
- 5.4 Should you trade on the Fork Delta exchange?
- 5.5 Is Fork Delta exchange safe or reliable?
- 5.6 What is the deposit / withdrawal fee on the Fork Delta exchange?
- 5.7 Has the Fork Delta exchange been hacked yet?
- 5.8 Does the Fork Delta exchange often have maintenance error?
- 5.9 What is the Fork Delta exchange coin?
- 5.10 Does Fork Delta exchange support Vietnam?
- 5.11 Does Fork Delta exchange have iOS or Android App?
- 5.12 What transactions does the Fork Delta exchange support?
- 5.13 Does the Fork Delta exchange have an IEO?
- 6 Conclusion
What is Fork Delta?
Fork Delta is a Decentralized Exchange (DEX) specializing in supporting ERC20 tokens based on the Ethereum blockchain.
Having been launched in 2017, when the movement of ICO developed strongly, most of the ICO tokens were listed on this exchange.
Besides, this is also a place where anyone can access directly to personal wallets; and it allows to list tokens without fees.
Security on the Fork Delta exchange
All transactions of receipt, purchase and sale of tokens at the Fork Delta exchange must be logged into the Ethereum private key (Private Key).
Because it is a peer-to-peer exchange, most security technologies for users are not yet supported and although the exchange has notified that it doesn't save Private Key information on the web.
To ensure asset security in the wallet, you can apply in the following ways:
Option 1: Use two or more Ethereum wallet accounts for token trading on the exchange.
That is, you only use the secondary wallet account when actually buying or selling on this exchange. Once done, transfer the entire coins and tokens to another wallet.
Absolutely, you should not use only one trading wallet at Fork Delta and personal storage wallets.
Option 2: Use Metamask
With the advantage of not having to enter the Private Key, you can feel secure when using it. Moreover, Fork Delta supports synchronization and compatibility for you to log in via Metamask.
Review the Fork Delta exchange
- The exchange supports a variety of ERC20 tokens: They are constantly being updated and listed on this exchange.
- Easy to access and to use: With just an Ethereum, MetaMask, or Ledger wallet, you can log in to the exchange immediately.
- Simple trading platform: Fork Delta is designed to be simple and convenient for individuals to easily trade.
- The exchange only supports standardized tokens on the blockchain platform Ethereum. In addition, it does not support any coins or tokens in other networks.
- User security: Because it is a decentralized exchange, users use it by logging in through the wallet's private key. This requires users to have a certain understanding of how to use a personal wallet. There are problems if your wallet's private key is copied.
- The liquidity in Fork Delta is quite weak, the trading volume is low. Part of the ICO projects has not really attracted many people to invest and trade on the exchange. Besides, the decline and plunge of the coin market plus many projects are not really good, so it is difficult to attract more investors.
Instructions on how to use the Fork Delta exchange
Registering to the Fork Delta exchange
- Create a new account. If you haven't had MEW wallet yet, it is possible to use this feature to set up an Ethereum wallet address.
- Login account: You paste the Private Key information of MEW wallet. The process will complete in some seconds, and then you can trade immediately.
- Connect via Ledger Nano S.
In this article, I will show you how to log in via Metamask:
Set up Metamask for Chrome browser or Coc Coc. Fork Delta exchange will automatically connect and synchronize.
Metamask connection appears >> Enter the password of the Meta wallet login >> Log in >> Select "Connect" in Figure 1. Complete synchronization and connection as shown in Figure 2.
Trading Token on Fork Delta
How to sell tokens on the Fork Delta:
You need to ensure a little bit of ETH in the Metamask wallet to make transaction fees at the exchange. If not, you should move in.
Step 1: Find the right token to sell.
Step 2: Select Token. I will choose "Tomocoin" because I have this in my wallet.
Step 3: Enter the number of tokens to deposit into the wallet in the "Amount" field, then select "Deposit".
In addition, you need to top up ETH from the exchange account to trade tokens!
Step 4: After the Tomocoin token is transferred to the wallet, there are two methods to sell tokens that you need to take note:
Selling directly on Order book
Spot the currently best price at the mark.
Enter the amount to be sold in the "Amount to sell" → "Sell" → Done.
Place order to wait for sale
Item “New Order” → select “Sell” → (1) Enter the quantity to be sold → (2) Price to sell → click “Sell” → Done.
How to buy tokens on the Fork Delta
Please note, have ETH ready to transfer to the wallet to be able to buy tokens. As follows:
Step 1: Select "Deposit on the Balance toolbar.
Step 2: Enter the number of ETC to load on the floor.
Step 3: Click "Deposit"
Step 4: Select Token to buy → I want to buy Token "DAI".
There are two forms of purchase:
Firstly, buy the best spot price and the market:
Choose sell order as shown.
Enter the number of DAI to buy → Click "Buy" → Done.
Second, buy order price with New Order:
Select “Buy” → (1) select the amount of Dai to buy → (2) set the desired purchase price → Click “Buy” → Done.
Frequently asked questions when using Fork Delta
Does Fork Delta platform support credit card transactions?
Because this is a decentralized exchange dedicated to ERC20 tokens on the ETH blockchain, individuals transact directly on wallets with wallets.
The exchange only supports ETH / token trading pairs.
Where can I contact with when there are problems?
You can actively contact with the exchange when having problems via channels such as:
Which coins are supported and loaded by the exchange?
ETH and ERC20 standardized tokens on the Ethereum network.
Should you trade on the Fork Delta exchange?
Personally, I think "should not". If the trading on it is essentially, it should be as limited as possible.
Because the trading volume and the liquidity are very low. Moreover, there are many junk ICO projects on the exchange, which is really dangerous for you to invest in and trade at Fork Delta.
Is Fork Delta exchange safe or reliable?
Fork Delta Exchange has been in operation since 2017, providing significant benefits for ICO projects and investors, for example, they can participate in trading quickly and without complicated procedures.
Since this is a wallet transaction with an ETH wallet, you need to pay attention to the security of the private key as I mentioned above, to avoid the gaze of hackers.
What is the deposit / withdrawal fee on the Fork Delta exchange?
The exchange will charge Gas for charging and withdrawing money from the wallet to the wallet. As follows:
- Deposit fee: ETH 0.0003 ETH, token 0.0001ETH
- Withdrawal fee: ETH 0.0001 ETH, token 0.0002 ETH
Details on fees on the exchanged are listed and fully recorded below: https://www.reddit.com/r/EtherDelta/comments/6hrvwl/how_fees_work/
Has the Fork Delta exchange been hacked yet?
So far, no hacking incidents have been recorded. But some users have reported losing tokens and ETH in their personal wallets, mostly due to subjective errors as well as user inadvertence in security.
Does the Fork Delta exchange often have maintenance error?
The exchange works very well, so rarely this phenomenon occurs. The exchange always has full contact channels for you to actively contact if problems and errors arise.
What is the Fork Delta exchange coin?
Currently, the exchange has not issued its coin. If there is, I will update the information for you.
Does Fork Delta exchange support Vietnam?
Currently, the exchange has not launched an application to support Vietnamese. If there is a problem, you should use English to receive the best support!
Does Fork Delta exchange have iOS or Android App?
Currently the exchange has not provided any App!
The exchange mainly works on the WEB, so you can login and use the exchange on it.
What transactions does the Fork Delta exchange support?
Currently, the exchange only supports ETH / ERC20 trading pairs.
Does the Fork Delta exchange have an IEO?
Currently the exchange does not provide this feature. If there is IEO , I will update and add more information to you.
I hope the above information will be very helpful and will help a little for those who want to participate in trading at the Fork Delta.
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