[Tutorial] How to buy DRT on EtherDelta

Domraider Team
Jan 15, 2018 · 5 min read

Following on our previous tutorial on how to buy DRT on HitBTC, here’s another tutorial on how to buy DRT on EtherDelta, the other main exchange for DRT.

To begin, go to the https://etherdelta.com/#PPT-ETH:

Before you can trade on EtherDelta, you need to already own an ether wallet (such as my ether wallet for example) with ETH on it. In the top right-hand corner of the page click on ‘Select account’ and choose from one of these two options:

You can create a new account: this will generate a unique wallet address for you to deposit your ETH onto. Imagine your Ether Wallet is like a bottle of water (the wallet being the bottle and the ETH being the water), EtherDelta is simply generating a ‘glass’ to allow you to transfer you ETH from one recipient to another. When you click on ‘New account’, a pop up window will appear showing you the public and private key of the newly generated wallet:

⚠️ Make sure you back up your public and private key somewhere safe as EtherDelta won’t be able to retrieve them for you if you lose them!

You must now transfer your ETH to this ‘host’ wallet you have generated. Go to myetherwallet.com (or where your ether wallet is stored) and send the desired amount of ETH to your EtherDelta host wallet. Your funds should now show up in the top right-hand corner of the dashboard shortly (refresh the page if that’s not the case).

Your second option is to import your Ether wallet directly to EtherDelta which is faster but a little less safe as EtherDelta will know the private key to your wallet. If you are not confortable with that, choose the ‘new account’ option. Otherwise click on ‘Import account’, a pop up window will appear asking you to fill out your public and private key. Use the public and private key from the ether wallet you wish to associate with EtherDelta:

Once this is done, your public address and the amount of ETH in your wallet will show up in the top right-hand corner of the dashboard:

For demonstration purposes the ETH balance here is 0

Your wallet is now associated with Etherdelta but you still need to transfer funds to the EtherDelta smart contract to be able to trade ETH for DRT. To deposit ETH on EtherDelta for trading, chose the ‘Deposit’ thumbnail in the ‘Balance’ section of the dashboard:

For demonstration purposes the amount of ETH in the wallet column here is 0 but you should see the amount you just imported.

In the ‘Amount’ field enter the amount of ETH you wish to transfer to EtherDelta for trading. You are basically transfering ETH from the Wallet to the EtherDelta column. Click ‘Deposit’.

⚠️ Make sure you leave some ETH in your wallet as you will need some for gas payment*
*(gas is the fee you pay for executing transactions on the blockchain)

A pop-up window will appear telling you that the transaction has been created and that you can track its progress (and how much gas you paid) on https://etherscan.io, click ‘OK’. Refresh the page if your transaction does not appear in the EtherDelta column.

Okay, you now have transfered ETH to the EtherDelta smart contrat, so let’s start trading DRT! First you need to choose the right crypto-currency pair, the default pair on EtherDelta is PPT/ETH. Choose DRT from the scroll-down menu at the top of your dash board:

⚠️ Make sure you choose DRT and not DTR as both are available on EtherDelta.

Now let’s have a look at the order book. In red you have all the selling offer and in green all the buying offers. For example, here someone is selling 21608.000 DRT at 0,000109689 ETH per DRT for a total of 2,370 ETH:

To buy DRT just click on an order in red (if it corresponds to the price you want to pay). A pop-up window will appear asking you which amount of DRT you want to buy. You may buy the total amount on offer (here 21608.000) but you may also buy only a portion of the order. For example, you could enter 10,000 in the ‘Amount to buy (DRT)’ field and the total price in ETH would be recalculated. Once everything looks good to you and that you are happy with the amount of DRT you are going to buy and the price in ETH you are going to pay, click ‘Buy’:

A pop-up window will appear to confirm that the transaction went through. Keep in mind that for any transaction to go through on the blockchain a gas payment must be made, so always keep a little amount of ETH in your wallet for future transactions. Your transaction will appear in the ‘My transactions’ section in the ‘Trades’ thumbnail.

That’s it, you now own DRT!

I hope this tutorial was helpful, if you still have questions regarding the process of buying DRT on EtherDelta do not hesitate to send us a message via Telegram, or email us at contact-en@domraider.com.

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Domraider Team

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Auctionity

Make The Deal • Making auctions safer, faster and more dependable through blockchain technology to decentralize and secure auctions at a world level.

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