The exchange platform runs entirely on the blockchain, which means:

  • no limits, no sign-up, no waiting for support to verify you;
  • it cannot be shutdown - not even by its creators;
  • you don’t need to trust anyone to look after your coins.
We also offer ultra-low fees and a rich trading experience. aims to be the leading platform for trading Ethereum assets on-chain, and to help grow an ecosystem of smart contracts trading with each other (and with you).

Try it now

Live Screenshot is now live with our first products - start trading tokens such as OmiseGo and SALT today!

Demo Screenshot If you don't have an Ethereum account, you could try out our Demo Exchange - it's a simulation running in your browser. To make it more exciting, there's some simulated trading bots too - can you beat them?

We also have some Screencasts in our tutorial, as well as a "play-money" book on the "Ropsten" Ethereum Testnet, and also on the (faster) "Rinkeby" Ethereum Testnet.

What can I trade on

Coins/tokens based on Ethereum (such as ERC20 tokens) can be traded on, either against Ethereum or against other tokens. See our list of products.

Examples of tokens we think are interesting include: REP (Augur) (prediction markets), 0x (trading), BAT (advertising), district0x (virtual communities), OMG (banking), and Melon (asset mangement).

Contact us if you'd like a particular token listed.

How does compare to other decentralized exchanges?

When we looked around, we found that other decentralized exchanges tended to compromise. Often they use an off-chain matching engine (meaning they are still vulnerable to downtime and hacking), and often they offer a much poorer trading experience than a traditional exchange.

We were determined to offer a full limit order book with automatic best execution running entirely on-chain - and thanks to our unique order book representation we succeeded, meeting our five goals:

  • no off-chain matching engine so no servers to shut down or be hacked;
  • a full limit order book, giving clients the best possible price and the trading features you expect;
  • clients don’t need to install any special P2P software;
  • ultra-low fees (none for makers, 0.05% for takers);
  • open platform - rather than just being an exchange we want to grow an ecosystem of smart contracts trading with each other.

Read more about this topic in our blog post: How compares to other exchanges.

Who’s behind

In one sense, no-one is - the exchange runs entirely on the Ethereum blockchain, and the open source web UI is statically hosted on github (pending move to Swarm). was created by Kieran Elby, a technologist with a background in algorithmic trading systems. He previously spent over a decade building secure, high volume gambling sites for leading bookmakers. He first dabbled in bitcoin in 2013 before flipping to Ethereum in 2015.

The software copyright and other intellectual property is held by Bonnag Limited, a UK registered company.

We’re interested in growing our team in future - contact [email protected]

Are there downsides to being 100% on-chain?

Yes - transaction times are much slower than a centralised exchange. This is hard to avoid - 1000s of Ethereum nodes worldwide need to agree on the state of the orderbook (without trusting each other). You won’t find High Frequency Traders on - not necessarily a bad thing for everyone else! We’ve also had to reduce the number of price levels offered to allow us to perform best execution on-chain - so you’ll see prices like 1.23, not 1.2298502.

OK, but how do I withdraw cash from does not interface with the traditional banking system, so if you need cash in your bank account, you’ll need to use a third-party to turn your Ethereum or Ethereum tokens into cash.

Over time, we’re confident that withdrawing to a bank account will become less necessary for many clients as:

  • more coins and tokens are built on top of Ethereum, so transactions stay on-chain;
  • more merchants accept payments in Ethereum or Ethereum-based tokens;
  • more companies offer stable Ethereum tokens backed by fiat currency.

In particular, we're hoping ERC20 tokens backed by Bitcoin and USD will become popular - will then be able to offer fiat pairs.

What are your fees? How do make money?

Because we’re not dealing with banks, or user sign-ups, or hosting providers, we have much lower costs than traditional exchanges.

We guarantee to:

  • never charge any fees for depositing or withdrawing Ethereum, or Ethereum-based tokens;
  • never charge any trading fees for orders that add liquidity to the exchange (that is, orders that rest on the book);
  • never charge a trading fee of more than 0.05% for orders that take liquidity from the exchange (that is, orders that match against an order on the book)

In order to avoid relying on trading fees, we hope to offer value-added products and services that build on top of our core exchange - see roadmap below.

What’s on the roadmap?

Sadly, the roadmap will not be completed since is permanently shutting down in July 2018.

when what
Aug 2017 ✔ Demo and Testnet (play-money) releases
Oct 2017 ✔ Main-net (real-money) soft-launch
(initially needs MetaMask / MyEtherWallet and offers just a few token pairs)
Nov 2017 Respond to initial feedback, offer more token pairs
early 2018 Ethereum account management - work on any device (including mobile) without needing MetaMask / MyEtherWallet
early 2018 Javascript APIs for trading on - e.g. for market making, arbitrage
early 2018 Solidity SDK for writing smart contracts that trade on - e.g. for maintaining a pool of reserves, running crowdsales
early 2018 Improved user interface and price charts
early 2018 If no-one else has done so, launch our own Bitcoin-backed ERC20 token (1:1 with Bitcoin)
2018 Multi-language web UI (e.g. Simplified Chinese)
2018 Host front-end in Swarm/IPFS for total unstoppability
tbc Derivative contracts/tokens - e.g. futures, options
tbc Margin trading / lending market-place

Perhaps you have some ideas for smart tokens that can be traded on our exchange, or for autonomous smart contracts that place orders into the exchange - we look forward to seeing what can be done with a fully on-chain trading venue.

Are you planning any sort of ICO / crowdsale?

We are considering using crowdfunding to accelerate our product development (and improve our design and marketing).

We want to be sure we have a working product and a solid business model first.

In preparation for any future crowdfunding, we've created the " Reward Token" (UBI) - our exchange contract allows Reward Tokens to be used instead of ETH to pay fees.

Email [email protected] if you’d like to hear about early opportunities to back us, or if you'd like to get involved with any crowdfunding.

Give me some technical details!

Take a look at our main smart contract here: BookERC20EthV1.sol.

We’re publishing details of how our contracts work on our blog - see our first post.

I have a question not listed here!

Sure, email us at [email protected], post to our ubitok subreddit, or raise an issue in our github repo.

We don't have a Slack channel at present due to attempted phishing attempts - if it's not on this website it's probably not from us.

Want to hear about exciting exchange developments?