Decentralized exchanges allow you to trade cryptocurrencies with further security by allowing you to control your own private keys and have no counterparty risk. Token Store is one of the many decentralized exchanges popping up, and the use of these platforms should grow significantly in the next year or two, so better to start learning now.
So you want to get some altcoins from ether, but don’t trust the exchange with your funds? With Decentralized exchanges, you don’t have to. sometimes referred to as DEXs, using decentralized exchanges like token store allows you to keep more control over your funds. It’s pretty easy to learn how to use as well.
When you start on the Token.store website, you just need to create a new ethereum wallet on the platform, or import your private keys from a wallet directly or use the metamask extension. The safest way to do it is to use the metamask extension, but I recommend using it only as an intermediary to another more secure wallet.
You can send funds to your wallet on token store once you’ve set it up. From there, though you need to deposit some ether into the Token store smart contract. Once the funds are In the smart contract then you can either click on a bid or ask to buy or sell any of the tokens listed so far or set a buy or sell order manually, you get the tokens you wanted right to your same ethereum wallet.
Right now theres less than 50 tokens available on token store, but you can definitely get EventChain (EVC) and the interface looks a lot nicer and more user friendly than what people have been used to for decentralized exchanges.
Many people ask, what is the difference between token store and etherdelta? Well here are some of the key differences:
1. They Completely rewrote the responsive User interface
2. Completely rewrote a new reliable order book
3. They Revised the smart contract with versioning, migrations, and account modifiers.
Again, Using Token Store decentralized exchanges means that you are not relying on token store themselves to store any of the funds. The nature of decentralized exchanges as well is that you send your funds to the eth smart contracts programmed to conduct a peer to peer exchange of tokens upon receiving.
There are other decentralized exchanges to use like EtherDelta, IDEX, RadarRelay, CobinHood and Kyber Network but some of these are still being developed and surely even more alternatives are being created as we speak. Check out the exchange and pick up some eventchain tokens at www.Token.store.