Decentralized cryptocurrency exchange Ethen specializes in trading ETH and ERC20 tokens anonymously. Unlike many other cryptocurrency exchanges, Ethen doesn’t ask users to create an account or register. All they need to do to start trading immediately is connect their wallet.
All user funds on the exchange are held in the Ethereum-powered smart contract managing the core platform functionality from wallet integration and trading to deposits and withdrawals. The decentralized nature of the exchange means that Ethen has no access to users’ personal details or money.
Ethen was created to solve current issues that are common to many peer-to-peer exchanges. According to the founders, their main goal was “to make decentralized exchanges more accessible to a wide range of users, not just professional traders, while incorporating as many convenient features as possible from centralized exchanges.”
Transaction speed on the exchange is significantly faster than on other decentralized exchanges. This is provided by a double-signature checking mechanism for each order. At the same time, Ethen architecture allows to maintain a high level of security and stability. All stages of the trading process are completely transparent, and, in the extremely unlikely case that the main site becomes unavailable, Ethen have published an open code on GitHub that can be used to withdraw funds.
Built by traders for traders, Ethen delivers a range of features that make trading easier and more comfortable. Ethen will automatically find all currently available orders with the same or better price to facilitate bulk order execution at the best price. Over 1000 ERC20 tokens are already listed on Ethen. Any new tokens can be added by users and become instantly available for trading. In addition, the exchange offers 24/7 online support for those who need help.
However, perhaps the best feature on Ethen are the low trading fees. Ethen does not charge deposit, withdrawal, or maintenance fees. The maker fee is 0% while takers pay a fee of 0.25%.
ICORating performed a technical audit of Ethen in June and found no critical or high severity vulnerabilities in the project.