Bitcoin Forum

Hi all,

how mutch we need to spend to join MEW with Metamask?

can you tell me a good exchange only for erc20 tokens?

Obrigado

Decentralized exchange like forkdelta and IDEX are for erc20 tokens you can use them, IDEX is better for me. Decentralized ones are better for me if you only looking for erc20.

It's free.
You just need a bit of eth in order to make transactions. It's called gas fees.
Forkdelta is an erc20 dex.

You could have googled all that.

You don't need to spend a dime to join MEW with Metamask! Why do you need to make an account in MEW or Metamask? Those are just used for viewing and spending your wallet balances and all the coins are stored in the blockchain. Assume it something like GUI used to communicate with the eth blockchain. You can create your own wallet without using a MEW, by just using a dice or by flipping a coin. Private keys are generated which further can be used to spend the coins. Consider the private keys as the key for opening your room of fortune. These private keys can be used up in any trusted eth wallets to retrieve your coins or spend them. Metamask acts as a bridge between your eth wallet and the decentralized apps. They can also be used as wallets. You can download the metamask from chrome web store and can integrate your created eth wallet with it.

ERC20 tokens are listed in either a decentralized exchange commonly called as DEX or a centralized exchange. A decentralized exchange is one in which you hold the private keys of your wallet and the trades occur between peer to peer without a trusted third party. You can just integrate your wallet in the exchange. Some of the popular DEX exchanges are IDEX, Forkdelta, Cryptobridge.
A centralized exchange is one in which your funds are controlled by a third party and the trades never occur peer to peer. They are easy to use but when hacked leads to the complete loss of your funds similar to the Mt.Gox. Some popular centralized exchanges are Binance, Okex, Bitfinex, Huobi.

So if I import my keys in the metamask I will not spend gas? because I have some tokens already in MEW but I can integrate this one in DEX

Your understanding of wallets are wrong. The tokens are stored under a particular private key in the eth blockchain
. They are not stored either in MEW or Metamask. Both are just a GUI for you to spend the coins easily. The one who owns the keys owns the coins. Just import your private key in any of the eth wallet and there you go.

On the other hand, transferring of coins from one address to another is a transaction which needs to be signed using the private key and it needs to be mined and for mining, we need to pay the gas. Importing is using a private key in another wallet. For instance, you have btc in Core wallet. At one point of time, your HDD is full and you need to move your coins to electrum. Do you say that your coins are present in Core and not in electrum? You can import the keys in wallet and the coins would be present in your electrum wallet too.

Thank you for the explanation, now is more clear!

Metamask is only tool to transfer your coins, tokens to another wallet or exchange. Price of transaction fee depends of ether network traffic at that moment.
If you're not in hurry set low gas 3-4 and wait. If you need fast set high gas above 7.

If network is not busy then even with gas 3 transaction will be completed under 1 minute. I always try with gas 3 and increasing then if i want to transaction be completed now.

You don't need to pay (Free). You just need a bit of eth in order to make transactions. It's called gas fees.
so many good Exchanges. Binance, Mercatox, Idex, etc.

You don't need any maintaining balance just to download metamask and have it on your browser. The same goes for Myetherwallet, you can use it by just visiting the website and making your own wallet.

Both of those wallets are only for free.

IDEX.market IMO is a good exchange for ERC20 tokens.