ForkDelta Exchange Review

Decentralized Exchange - cannot be rated at this time.

ForkDelta or known in the cryptosphere simply as, FD, is an off-shoot or fork of Ethereum decentralized exchange, EtherDelta (ED). This followed after ED was the target of a DNS hijacking scheme in December 2017, during the 2017 crypto bull market. ForkDelta, also a decentralized ETH exchange, was founded in January 2018. Like ED, FD only provides trading in Ethereum tokens or more specific, ERC20 tokens, tokens based on the ERC20 token standard.

A review of ForkDelta reveals that this decentralized exchange (DEX) offers a user interface (UI) that may not be that beginners friendly. This is overcome by the availability of more than one ForkDelta user guide online. A very important point to remember, especially if you are a beginner, is to always try and interact with FD via a hardware wallet such as Ledger Nano S – the only hardware wallet connection option offered by FD at the time of writing. This way you eliminate the risk of losing your funds as a result of DNS hijacking, phishing scams and more.

Furthermore, remember to set a higher gas price if you wish to trade faster or when trades seem to be stuck. Go to “Select account” (to your right at the top), select “Gas price” and take it from there. Use ETH Gas Station if you are not sure where to set it.

A ForkDelta exchange review shows that this DEX serves the crypto community via no less than 23 active markets and 70+ cryptocurrency pairs and cryptocurrencies (or digital tokens). This ether decentralized exchange is available in 5 languages, including English.

ForkDelta has a 24-hour trading volume of USD 97,979.15. If you already have an Ethereum wallet, you don’t need to register at ForkDelta. Instead, you can link your wallet using Ledger or MetaMask, or by directly importing your account on the platform from the dropdown list. Though this allows for practicality, ForkDelta remains quite mysterious to the user as it is not possible to find out any information about the team behind it. The location of its headquarters is also not known. This renders the exchange quite risky and unappealing to the average trader. 

As it is based on Ethereum, the functionality of the platform is dependent on smart contracts. This means that trading is not instant, and any clogging in the smart contract will undoubtedly cause delays in ForkDelta as well. Another downside is that fiat-crypto trade is not possible, meaning that new cryptocurrency investors will not be able to use the platform before utilizing another one to make the fiat-crypto trade first. The platform is not necessarily user-friendly and is pretty basic. The interface is quite similar, almost identical, to that of EtherDelta. Simple interfaces may be beneficial for beginner investors, however not at the level of ForkDelta’s website. It’s too simple to the point where it loses practicality.