Legal Name | OpenLedger DEX |
Headquarters | Pandrup, Denmark |
CEO | Ronny Boesing. |
Year Founded | 2014 |
Exchange Type | Decentralized |
Trading Fees | Maker: 0.20%/ Taker: 0.20% |
Deposit Methods | Wire transfer |
Supported Cryptos | 50+ popular currencies including Bitcoin, Ethereum, Ripple, NEO, Steem, Litecoin and more |
Fiat | US Dollars, Euro, Chinese Yuan, Japanese Yen |
Customer Service | Email, Phone |
Trading Options | Spot Trading |
Decentralization enables users to be in full control of their coins and does not involve a third-party service to keep your coins safe. The exchange does not prohibit governmental and non-governmental organizations from certain jurisdictions
OpenLedger DEX is one of the first exchanges with innovative blockchain solutions and a decentralized trading platform.
This article provides readers with a complete review of the OpenLedger DEX and gets to know its features, trading, fees, and much more. Let us look into this OpenLedger review now,
OpenLedger is a decentralized cryptocurrency exchange (or DEX) based on the BitShares network. OpenLedger offers a custom blockchain-based service, which is highly popular with traders. The platform has a convenient interface that helps both experienced and new traders
OpenLedger is a Danish cryptocurrency exchange founded by CCEDK and Cryptonomex. Other partners include Banx Capital, Bunkershares, the Beyond Bitcoin Show, Peertracks, Idantabit, Follow My Vote, etc. The CEO of the company is Ronny Boesing.
OpenLedger developers are constantly improving blockchain algorithms, providing an additional level of security through decentralization, which makes it possible for data to be stored in different places.
This trading platform doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. OpenLedger DEX offers a flat trading fee of 0.20%. This fee is slightly below the industry average
OpenLedger DEX has a percentage based withdrawal fee, meaning that they charge you a percentage of the withdrawn amount when you withdraw. Their percentage charged is 5.00%. This cryptocurrency trading platform offers wire transfer as a deposit method and you cannot deposit via credit card.
The OpenLedger DEX supports more than 50+ of the most popular currencies based on other blockchains including Bitcoin, Ethereum, Ripple, NEO, Steem, Litecoin, Dash and EOS, as well as fiat currencies
The most popular coins at OpenLedger in terms of trading volumes are BTC, EOS, KRM, and ZEN, etc many others also being available. Trading is done against the system’s representative tokens namely: open.BTC, open.ETH, open.EOS, CNY, USD, BTS, and OBITS
To provide the DEX users with access to their assets anytime on the go, The OpenLedger team has created and developed a mobile wallet app for Android and iOS
Step 1: Visit the Official Openledger Website. Click on the “Create Account” Option
Step 2: You will see two options namely: “Use the wallet model” and “Use the account model”. Choose and click one among them accordingly
Step 3: Now enter your Account Name, Choose a strong password and confirm it once again
Step 4: Then click on the “Create Account” Option
Step 5: Then log in to your Openledger account with your username and password to get started
In cases, where you have to recover the Openledger password, Visit the Official Website and then Go to the Login Page and then click on the “Forgot Password” option. Then enter your personal information and user id after which you can reset your password.
Step 1: Log in to your account
Step 2: Click on the “Deposit” option on the top of the screen
Step 3: Once you click, a new page opens up showing the list of currencies available
Step 4: Click on “Find an Asset” Option.
Step 5: Select the desired coin to be deposited and then click on the ‘Deposit’ Option
Step 6: Now copy the address generated. If it is not available, then click on the “Get new address“ Option
Step 7: Now Go to MyEtherWallet. Paste the address and the amount and click on ‘Generate Transaction’ Option to complete the order
Step 8: You can view your transaction details by clicking the Verify Transaction Option
Step 1: Log in to your account
Step 2: Click on the “Withdraw” option on the top of the screen
Step 3: Once you click, a new page opens up showing the list of currencies available
Step 4: Click on “Find an Asset” Option.
Step 5: Select the desired coin to be withdrawn and then click on the ‘Withdraw’ Option
Step 6: Now copy the address generated. If it is not available, then click on the “Get new address“ Option
Step 7: Now Go to MyEtherWallet. Paste the address and the amount and click on ‘Generate Transaction’ Option to complete the order
Step 8: You can view your transaction details by clicking the Verify Transaction Option
Step 1: Log in to your account. Go to the “Exchange” Option
Step 2: Click on the Filter Option, Then choose the currency you want to buy from the column list
Step 3: Then click on the desired currency. A new page opens up.
Step 4: In this page, Different parameters will appear like “Price”, “Quantity”, “Total” and “Fee” fields.
Step 6: Enter your price, total, quantity, and the fee you wish to buy accordingly, and then click on “Buy” Option
Step 7: You will see a confirmation page. Review your details and click on the Confirm Option
Step 8: Once the order has been completed you will be met with a confirmation popup.
Step 1: Log in to your account. Go to the “Exchange” Option
Step 2: Click on the Filter Option, Then choose the currency you want to sell from the column list
Step 3: Then click on the desired currency. A new page opens up.
Step 4: In this page, Different parameters will appear like “Price”, “Quantity”, “Total” and “Fee” fields.
Step 6: Enter your price, total, quantity, and the fee you wish to sell accordingly, and then click on “Sell” Option
Step 7: You will see a confirmation page. Review your details and click on the Confirm Option
Step 8: Once the order has been completed you will be met with a confirmation popup.
OpenLedger DEX prides itself on having an intuitive interface to help both newcomers and professionals make the most of their trading platform. They also state on their website that they have a BitShares-based system that handles as much as 100,000 transactions per second
To sum up, OpenLedger is a decentralized exchange, built on the scalable and secure BitShares Blockchain which is worth recommending
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