What is a decentralized exchange and how it works?
A Decentralized Exchange (DEX) is a peer-to-peer platform that allows you to transact without a centralized intermediary.
Most DEXs run on the Ethereum blockchain. With the development of Decentralized Finance (DeFi), DEXs are in high demand.
Unlike a centralized exchange (CEX) where an intermediary such as a company, broker or bank is needed to complete a transaction, DEX rely solely on blockchain technology and traders.
DEX uses smart contracts, which, while simplifying the trading process and underpinning decentralization, also limit the ability to trade tokens. DEXs are ideal for trading ERC20 tokens, but not quite suitable for trading BTC or other non-Ethereum tokens.
DEXs, in their various forms, offer users the ability to exchange assets in completely decentralized ways. This is definitely a step in the right direction for the entire cryptocurrency movement, with its emphasis on self-government. Also, it happened at the perfect time as a result of the development of DeFi. The platforms still have some drawbacks, such as the inability to trade some cryptocurrency or BTC, and high fees. However, all these problems are gradually being solved.
What is Matcha?
Matcha is a cryptocurrency trading platform powered by the 0x platform.
It is a completely decentralized exchange, which means that users exchange their tokens on a peer-to-peer network through the Ethereum smart contract infrastructure. Matcha is not just a marketplace, but also a liquidity aggregator. It accumulates liquidity from many decentralized exchanges and offers users the best prices for trading.
The 0x API helps Matcha split your order across multiple DEX sites. Thanks to this, users can get the best cryptocurrency exchange rates. This optimizes gas spending and makes your trading cheaper and more profitable than trading directly on Uniswap, Sushiswap or Pancakeswap.
Working with Matcha, you actually make exchange transactions on all DEXs that are presented on the platform at the same time. This makes trading easier, more enjoyable and more profitable.
Not so long ago, Matcha launched a beta version of Gasless Trading. This is a new feature exclusively available on Matcha that allows users to trade on Ethereum without having to pay for gas.
Currently, a limited number of trading instruments are presented on the platform, but the platform developers are working on expanding the number of trading instruments.
A certain disadvantage of the platform is its weak trading terminal. Its functionality is suitable for a simple exchange of cryptocurrencies, but this terminal is not suitable for trading.
From this we can conclude that while the trading platform is more suitable for a simple exchange of tokens. For trading, you should choose more advanced DEX or CEX trading exchanges.
Types of orders
An important advantage of Matcha over other platforms is the presence, in addition to simple buy and sell orders, limit orders. Not many DEX exchanges can offer such functionality to their users.
Limit orders on Matcha are slightly different from limit orders on CEX exchanges, but in general they serve the same function. The order is executed at a price preset by the user. In this case, the user can set the duration of the limit order.
As with other DEXs, registration on Matcha doesn't take long. To connect to the platform, you only need to connect your cryptocurrency wallet.
The platform supports the following wallets:
- Coinbase Wallet.
The platform is completely free, but when making exchange transactions, users must pay gas and commission for the 0x protocol.
The main difference between Matcha and most other DEXs is that it is not just a trading platform, it is also a liquidity aggregator. Thanks to this, users get the best trading conditions for making exchange transactions.
Benefits of Matcha
Matcha has direct competitors, but this platform has several advantages. First, it is intuitive. Therefore, even a user who did not previously know what Matcha is in a short time will be able to quickly put together the platform. Secondly, the platform is developing rapidly and adding more and more new functionality (limit orders, gasless trading, etc.).
How to start trading on Matcha in Qatar?
Even if you didn't know what is Matcha and how to trade on Matcha in Qatar before, you will be able to master this platform within a few minutes. You only need a platform-supported cryptocurrency wallet. By connecting the wallet to the platform, you can immediately start trading.
The platform is decentralized and has no restrictions on Qatar use.
Connect wallet to Matcha
The registration process on the Matcha trading platform is simplified as much as possible. You just need to connect the wallet to the platform, and you can trade.
The process of connecting a wallet takes no more than 1 minute. Just select the wallet you need and click the "connect" button.
MetaMask is a web wallet designed to manage, receive and transfer Ethereum and ERC-20 tokens. It works as a browser extension compatible with Chrome, Firefox and Brave browsers. MetaMask currently has over a million active users. It really shows how widespread it is.
How to trade on Matcha via MetaMask? It's simple. On the platform's website, press the button “connect MetaMask”, wait a few seconds and that's it. You get full access to the platform's functionality.
Coinbase Wallet launched the Coinbase exchange for secure cryptocurrency transactions. That being said, you don't need to have an account with Coinbase exchange to use Coinbase Wallet.
How to trade on Matcha via Coinbase Wallet? It's simple. On the platform's website, press the button “connect Coinbase Wallet”, wait a few seconds and that's it. You get full access to the platform's functionality.
WalletConnect is an open protocol that allows desktop DApps to be connected to mobile wallets using end-to-end encryption by scanning a QR code.
How to trade on Matcha via WalletConnect? It's simple. On the platform's website, press the button “connect Coinbase Wallet”, wait a few seconds and that's it. You get full access to the platform's functionality.
Bitski is another easy-to-use cryptocurrency wallet.
How to trade on Matcha with Bitski? It's simple. On the platform's website, press the button “connect Bitski”, wait a few seconds and that's it. You get full access to the platform's functionality.
Find the trading pair to trade
All trading instruments available for trading are presented in the "Trade" section. The choice of tools is not very large, but the platform is working on adding new cryptocurrencies.
Make a trade
Trading is carried out on the "Trade" page. You choose the instrument you want to trade. Choose a direction and you can immediately execute a deal.
To place a limit order, you need to enter additional parameters.
Alternatives to Matcha
Matcha is not a unique platform. Now there are other projects that are developing in parallel in the same direction. But thanks to a set of some interesting features and a simple interface, Matcha competes quite successfully in its niche.
What is Matcha and how to trade on Matcha in Qatar? Brief answers to the most popular questions are presented below.
How does Matcha offer the best prices?
The Matcha trading platform aggregates liquidity from other decentralized exchanges and gives the user the best price.
How is Matcha different from other exchanges?
Matcha exchange differs from CEX in a higher level of security and anonymity.
What kinds of users and organization types does Matcha work with?
The platform is completely decentralized, so users all over the world can work with it.
What languages does Matcha support in their product?
So far, the platform only supports English. More languages may be added in the future.
What other applications or services does Matcha integrate with?
Matcha is integrated with many decentralized exchanges. A complete list is presented on the project website.
What type of training does Matcha provide?
The platform's website provides answers to the most frequently asked questions. In general, the platform has a friendly interface. Users shouldn't have any problems mastering the platform.
Why you can trust Matcha to securely swap your tokens?
The Matcha trading platform works on the basis of proven smart contracts that have a similar open source code.
How Matcha is safer to use than a centralized exchange?
DEX exchanges offer users more anonymity and security.
Where you can use Matcha to trade?
The Matcha platform can be used by people in almost every country in the world.
What exchange networks does Matcha aggregate liquidity from?
Now the platform collects liquidity from several dozen cryptocurrency exchanges. A complete list is presented on the project website.
What Ethereum wallets are supported?
The platform supports:
• Coinbase Wallet.
How do I link Coinbase wallet to Matcha?
On the Matcha website, you need to click the "connect Coinbase" button.
How do you connect Matcha to ledger?
Matcha cannot be directly connected to ledger. This can be done through Metamask. Detailed instructions on how to do this are presented on the project website.
How does Matcha connect to Metamask?
On the Matcha website, click the button“ connect Metamask.
Is there a Matcha token?
No. The platform does not have its own token.
Is Matcha crypto safe?
The project provides users with a high level of security.