What is a decentralized exchange and how does it work?
On a regular exchange (CEX), users deposit money either in fiat currency (many sites do not support direct work with fiat money) or in cryptocurrency.
After depositing the cryptocurrency, the user loses control over it. It is possible to withdraw or exchange these funds, but from a technical point of view, it is no longer possible to spend them on the blockchain.
Control over private keys is also limited. To withdraw funds, you need to make a request to the exchange to carry out the withdrawal process. During trading, transactions do not go through the chain. User applications are distributed according to their own database.
The workflow is fully optimized, since the low speed of blockchains does not hinder trading and everything happens in a single system. Cryptocurrencies are easy to buy and sell, and users have more tools at their disposal.
However, for all this, you have to sacrifice independence and trust your funds to the exchange. As a result, you put yourself at some risk. What if your BTC gets stolen? What if a hacker attacks the system and gets hold of your funds?
Many users take this risk. They just try to choose reliable exchanges with a good reputation and data loss prevention measures.
Decentralized Marketplaces (DEX) are an alternative to CEX that lacks some disadvantages of CEX.
DEXs have similarities to centralized exchanges, but also significant differences. First, we note that users can choose between several types of decentralized exchanges. In each of them, orders are executed in the chain (using smart contracts), and users in no way sacrifice their independence.
Sometimes work is carried out on DEX cross-chains, but usually all transactions are related to assets in a single blockchain.
Thus, DEX provides users with more security and anonymity than CEX.
What is Matcha?
Matcha is a DEX representative of a niche marketplace.
Matcha is not just a marketplace. It is a liquidity aggregator. A platform that unites several DEX exchanges into one platform in order to provide its users with the opportunity to find the most effective and profitable exchange directions on all connected platforms.
Liquidity aggregators make life much easier for users. Thanks to them, you do not need to monitor dozens of exchanges in search of the most profitable offers for exchange. Matcha does all this for you.
Therefore, if you did not know what is Matcha before, you should definitely get acquainted with this platform.
How to trade on Matcha and what assets are available?
The platform supports about 20 tokens. In the future, the list of instruments will be expanded. New features will also be added.
Types of orders
Matcha is primarily a token exchange platform. For trading, one is not very suitable. Therefore, initially the simplest orders for buying and selling were available on the platform.
Later, limit orders were added for some instruments, which somewhat expand the possibilities for using the trading platform. A limit order can be placed indefinitely or for a specific period.
Perhaps in the future, other orders and opportunities will be available to users.
How to trade on Matcha? First, you need to get a cryptocurrency wallet. The Matcha trading platform currently supports the following wallets:
- Coinbase Wallet.
How to trade on Matcha? Connect the wallet to the platform (the operation takes no more than 1 minute) and start trading.
Matcha is a free platform, but traders will still need to incur certain costs when making exchange transactions. First, you need to pay for Ethereum gas. Second, there is a negligible fee to pay for using the 0x protocol.
Matcha was created by an experienced 0x team. The liquidity aggregator has become a logical continuation and development of their 0x protocol, which is used by many other sites.
Benefits of Matcha
Matcha offers a user-friendly interface. Even users who do not know what is Matcha will be able to master the platform in a very short time.
Many other DEXs have less user-friendly interfaces. This may cause problems for some users.
How to start trading on Matcha?
How to trade on Matcha? Connect a cryptocurrency wallet and start trading right away. As you can see, everything is very simple.
The platform has no usage restrictions and is very easy to connect to. You do not need to go through verifications and additional registrations.
You don't even need to leave your email address there.
Connect wallet to Matcha
The Matcha trading platform interacts easily with supported cryptocurrency wallets.
To connect the wallet, you need to press just one button. The connection will take place within a few seconds.
Immediately after that, you will be able to use all the functions of the trading platform.
Metamask is a browser extension that is also the most popular cryptocurrency wallet for storing Ether and ERC-20 tokens. Metamask is needed primarily in order to be able to trade on decentralized exchanges or DEXs with its help. It is the most popular, safe and demanded tool for trading, buying and storing Ether or Etherium tokens.
Metamask easily connects to Matcha. One click.
Coinbase Wallet is a wallet developed by the Coinbase team. It provides one secure storage for cryptocurrency and rare NFTs.
Coinbase Wallet easily connects to Matcha. One click.
WalletConnect is an open source protocol for connecting decentralized apps to mobile wallets by scanning a QR code or direct links. The user can securely interact with any Dapp from their mobile, making WalletConnect wallets a safer choice over desktop wallets or browser extensions.
WalletConnect also easily connects to Matcha.
Bitski is a web wallet that easily connects to Matcha. To connect a cryptocurrency wallet to the platform, you must click the "connect Bitski" button.
Find the trading pair to trade
The choice of trading instruments on the platform is somewhat limited. About 20 digital coins are available for exchange. In the future, perhaps, their number will be expanded.
Make a trade
How to trade on Matcha? Everything is very simple. Connect the wallet. Go to the "Trade" section, select the instruments for the exchange, the direction and start the exchange process.
Everything is as simple as possible.
Alternatives to Matcha
Now there are other platforms that offer users functionality similar to Matcha. First of all, the 1inch platform is worth noting here. It is very similar to Matcha, but it was launched a year earlier, and thanks to this, it has gained certain advantages.
Some functions, for example limit orders, have been introduced here before. Plus, the 1inch platform has a more functional and convenient trading terminal.
Also, the platform has already launched its own token, which is actively involved in the development of the trading platform.
Despite this, Matcha competes quite successfully with 1inch and other similar platforms.
How does Matcha offer the best prices?
Matcha aggregates liquidity from other exchanges. Determines the most favorable conditions and sends the trader's application to this site.
How is Matcha different from other exchanges?
Matcha collects liquidity from other platforms and routes users' requests to other DEX exchanges.
What kinds of users and organization types does Matcha work with?
The platform has virtually no usage restrictions for users.
What languages does Matcha support in their product?
Now only English.
What other applications or services does Matcha integrate with?
The platform is integrated with over 30 exchanges. This list is regularly expanding.
What type of training does Matcha provide?
The platform is easy to use and does not require additional training.
Why you can trust Matcha to securely swap your tokens?
The platform is decentralized and does not have access to your tokens.
How Matcha is safer to use than a centralized exchange?
This is a decentralized platform, and it does not have access to your funds and does not require verification.
Where can you use Matcha to trade?
First, the platform is designed for a profitable exchange of tokens.
What exchange networks does Matcha aggregate liquidity from?
More than 30 sites are now connected. Their list is regularly expanding.
What Ethereum wallets are supported?
Currently, the platform supports the following cryptocurrency wallets:
- Coinbase Wallet.
How do I link Coinbase wallet to Matcha?
Click the "connect" button. Choose “connect Coinbase”.
How do you connect Matcha to ledger?
Ledger cannot be directly connected to Matcha. This can only be done through Metamask.
How does Matcha connect to Metamask?
Click the "connect" button. Choose “connect Metamask”.
Is there a Matcha token?
Now the platform does not have its own token.
Is Matcha crypto safe?
The platform does not affect the process of storing your funds, since they are in your wallet all the time.