How to use etherdelta with Metamask

Hi Steemit,

I recently started using Etherdelta exchange to buy some tokens. I didn't find many information on how to use it, and many people are saying how hard it is to use Etherdelta. At first it was hard and confusing, but after a few tries it is actually quite simple to use

What is good about etherdelta is you don't need to sign up and input your personal information because it is a decentralized exchange. And there are some tokens that are not yet available on other big exchanges that you can trade on etherdelta. Also sometimes you can find good bargains on the smaller market cap tokens, as some exchanges don't want to list some tokens, the price may go down and etherdelta makes it possible for individuals to put their tokens on sale.

You need to have Ethererum address in order to trade. Because i have metamask, somehow i must use it or i need to remove it from google chrome. Otherwise you can use your hardware wallet, or even create a new Ethereum address from Ether Delta

So in this case i used Metamask. I will buy PPT in this example as it is the first one that popped up

Step 1. Unlock your Metamask

Step 2. Open the Ether Delta website https://etherdelta.com

You will find this on the left hand side. The first row shows Deposit, Withdraw and transfer. These are the functions you can select.

Also the balance from your Metamask is shown. In this case I have 0 PPT and 0.112 ETH

Step 3. Deposit.

You can deposit Token if you want to sell it , or you can deposit Eth if you want to buy token. In this case i am depositing 0.06 ETH in order to buy PPT

Step 4. Confirm transaction from Metamask

You will be asked to confirm the Deposit transaction from Metamask, as this is an Ethereum transaction you need to pay some gas. I lowered the gas to 4 Gwei to get cheaper cost.

A pop up message will appear with a link so you can track the progress of your transaction, wait until success, then you will see the balance of your ETH in your Metamask wallet will be reduced and your ETH balance under Etherdelta will appear.

Now you are able to purchase up to 0.06 ETH worth of Tokens (minus the fees)

Step 5. Purchase the token

Red is sell order and the green is buy order.

I clicked on the lowest sell order and a buy window will pop out. Enter the amount of token to buy, in this case i entered 1. The amount of ETH required is also displayed and the the fee also. Check if everything is OK and then click buy button

Then you need to confirm from your metamask again. Don't forget to lower gas price

Wait until transaction was "success" and now you can see your token balance is added to '1' and the ETH balance is reduced

Step 6 Withdraw the token

To withdraw token from your EtherDelta to your wallet, Click on Withdraw on first row beside deposit, enter the amount you want to withdraw, and then click the blue withdraw button

And then confirm the transaction again on Metamask

Now you will see your balance in your wallet is 1 PPT token, and the balance in your Ether Delta is 0. (Sometimes you need to reload the browser if nothing change)

Check your Metamask, and the new Token should be there, if not don't panic, you just need to enter token address of PPT if this is a new token in your Metamask

You can also withdraw your remaining ETH back to your wallet using the same step

Thank you for reading, i hope it is useful . Try using small amount first to practice and continue with bigger amounts when you have become familiar with this exchange