With thousands of coins for different purposes, the BSC (Binance Smart Chain), is undoubtedly the largest and most diverse blockchain within the DeFi sector. Biswap is a shining gem in the BSC mine. It’s the first DEX (decentralized exchange) platform on BNB Chain with great features that challenge many popular BSC DeFi platforms, including PancakeSwap.
Biswap, a decentralized platform for exchanges that allow users to trade BEP-20 tokens over the Binance Smart Chain network. Biswap ensures higher speed and competitive network transaction costs and aspires to become the industry standard for DEX platforms and the market’s premier platform for token swaps.
You can read on for all the details about Biswap.
Let’s jump right in!
PROS
- The Binance smartchain has the lowest fee (0.1% per Swap) of all decentralized exchanges.
- There are farms that offer high APYs, some as high as 600%.
- Referral system with three levels that allows users to earn passive income.
- The SAFU Insurance Fund was established to safeguard users from possible losses. This function is eligible for 1% of tokenomics’ entire budget.
- The Transaprent Fee Structure
- Audited by Certik, one the largest audit companies in crypto.
CONS
- A new exchange that hasn’t stood the test of time.
- Only coins/tokens which are part of Binance Smart Chain. Binance is an centralized legal company that is connected to the BSC. As a result, if something happens to Binance (for example, if it’s sanctioned), it might have a cascading effect on the entire BSC and on Biswap.
- Anonymity is the team’s policy. They can also disappear anytime they wish.
- The team decides everything. These procedures, as well as community governance, are still being developed.
What is Biswap?
Biswap is a Binance Smart Chain Decentralized Exchange (DEX), which accepts BEP-20 tokens. Biswap guarantees the lowest transaction costs of any BSC-exchange at 0.1%. They are also dedicated to DeFi innovation via high-quality services and products. The three-type referral program allows you to invite your friends, earn referral money, as well as cash prizes from swaps and launch pools. Biswap’s key offerings are an AMM, yield farming, Liquidity Pools, an NFT marketplace, an IDO Launchpad, etc.
Biswap’s roadmap includes the following goals:
- NFT Marketplace improvements
- Swap referral program
- Listings on top crypto exchanges
- Lending and borrowing
- Limit orders
- A personal user dashboard
- Cross-chain support.
Biswap announced an incentive program worth $10 million to promote collaboration with BSC projects. Partners have the option to receive a 90% fee reimbursement, farm pairs with BSW and marketing promotion. Subsidies for security audits or project development can also be arranged.
BiSwap Exchange features
BiSwap Exchange offers its users a wide range of features such as:
Launchpools:By staking BSW at relevant Biswap Launchpools, users can get additional BSW and tokens via the platform interface. Both auto-compounding pools and non-compounding pool offer competitive interest rates. Launchpools offer BSW and the ability to farm tokens such as CAKE, DOGE or BUSD.
Mining liquidity:Funds can be deposited into any of the pools on the Biswap exchange platform. To do so, go to the website’s “Liquidity” tab and select the “Add Liquidity” button. Choose the pool you want to provide liquidity to, and you’ll be given a liquidity provider token that you can stake on the Biswap farms. In addition to earning BSW, you will also be eligible for a share of any trading fees that are generated by the pool.
Transaction MiningThe cashback program allows traders the opportunity to get 100% back their trading fees in BSW tokens. Sites generally charge a 0.1% transaction fee. This functionality allows you to reduce the transaction fee down to 0.1% in certain circumstances.
Yield farming On the BiSwap website, you’ll find a variety of farms where you can use your LP tokens to double your earnings.
Competitions:Biswap organises trading and other competitions to reward its users and encourage interaction with them.
Referral Program You can earn referral rewards through Biswap by doing three things. You get a cut of trading costs, receive a certain commission reward each time their referrals make swaps on the Biswap platform, and a 5% return in BSW tokens from their referrals’ earnings from farming and Launchpools. The incentives also come from BSW block emission, which accounts for 4.3% overall tokenomics.
Who are the founders of Biswap?
Biswap began its existence in 2021. There are 27 people listed on Biswap’s website. However, they don’t reveal the identity of the employees and present them only as comic avatars. “EK,” the CEO, is said to be a crypto veteran with seven years of expertise. Although almost every Biswap employee claims to have several decades of experience in their respective fields, no information is provided. Biswap doesn’t mention potential investors.
Biswap is Unique
Biswap’s main selling point is its lower transaction fees. Biswap says it charges only 0.1% transaction fees as opposed to the 0.25% for Pancakeswap or Apeswap. As an incentive, 0.05 percent is paid back to liquidity providers and 0.05 percent is used to burn BSW tokens. Biswap reserves the right to increase the fees and allocate a team allocation in the future. The company does however promise to keep fees under the industry average.
Participation in transaction mining means that users can get up to 90% depending on their trading pair of the 0.1% Swap Fee. You can provide liquidity for pools or earn BSW farm incentives. Biswap has an NFT Marketplace that allows users to purchase NFTs using 4 other cryptocurrency: BNB (WBNB), WBNB (BUSD), and USDT. Biswap offers NFTs of its own, NFT Earn. These include NFT Launchpads, NFT Boosts, NFT Staking Pools and NFT Level Upgrading. Users can purchase “Robi NFTs” and stake them to gain profit.
The Biswap lottery is a game where participants can win “large BSW rewards.” Each user can buy an unlimited number of tickets, with 80% of the proceeds going to the prize pool.
Biswap also offers IDO Launchpad that allows other cryptocurrency companies to use Biswap for their token launches. New participating projects will be eligible for a $10,000,000 incentive program and claim to have more than 300,000. Active users are claimed to be part of the DEX.
What is the Biswap Network Security?
BSW (Bep-20 token) is on the Binance Smart Chain (BSC). It is secured with a Proof-of-Stake(PoS), consensus mechanism. 21 validators will be elected every 24 hours in order to validate transactions, and ensure the security of the blockchain. These validators need to stake Binance Coin (BNB), in order to be eligible. Biswap offers a bug bounty. Reporting vulnerabilities can earn you anywhere from $10-$100,000.
Certik audited Biswap. This is the largest DeFi audit to date.
Biswap has more than 350,000,000 dollars of total locked value (TLV). This gives Biswap more credibility and security.
What are the Circulation Numbers of Biswap (BSW Coins?
BSW is the exchange’s governance token, with a total supply of 700 million. As follows is how the 600 million BSW will go:
- Farms / Launchpools 80.7%
- Team: 9%
- Investment Fund: 5%
- Referral program: 4.3%
- SAFU (an insurance policy for everyone): 1%
Rest of the 100 million BSW have been divided 70/30 among NFT (Earn), GameFi (“Play to Earn”), Strategic Partnerships (70%), Transaction Fee Mining (30%). Biswap has several other deflationary tools, including the burning of 50% of transaction fees and 13% of lotto tickets. It also takes 10% from sales proceeds.
Biswap BSW Tokenomics
The data from CoinStats shows that Biswap BSW currently has 700,000,000 tokens and 263,971,340 total. The total current supply of tokens is currently at 225.403,465 tokens, which represents approximately 32%. Check out the current BSW price, Market cap, total supply and circulating supply are all available on CoinStats. Also, you can see trading volume, market cap, price chart, as well as other metrics.
Where Can You Buy Biswap? (BSW)
Gate.io is the top cryptocurrency exchange for purchasing BSW. BKEX, MEXC and PancakeSwap are all good options for buying Biswap. Make sure to conduct your own research and compare the exchange’s reputation, fees, and deposit methods, such as a bank account, a credit/debit card, or another crypto, like Bitcoin, before making a decision.
To create an account on most exchanges, you’ll need to comply with the KYC procedure and provide personal information like name, email address, phone number, home address, and a copy of your government ID or passport.
Top Crypto Exchanges To Buy Biswap
Binance
Binance ranks among the top cryptocurrency exchanges for trading volume. Binance offers low fees for trading and liquidity, which allows users to trade digital assets quickly and take advantage of the market.
Although US customers are not permitted to buy BSW on this platform, it’s best suited to users from Canada, Australia, the United Kingdom, Singapore, and other countries.
Gate.io
Gate.io was founded in 2013 and has grown to be a well-known trading platform. While it’s not the most popular exchange, it offers an easy-to-use interface to beginners and comprehensive and sophisticated charts to traders of all skill levels, including technical traders. This exchange offers many cryptocurrencies including Biswap BSW and frequently introduces new tokens.
With the exception of New York State and Washington State, this exchange currently accepts US citizens.
BKEX
BKEX was established in 2018, a worldwide digital asset trading and subscription exchange. It’s a blockchain asset subscription and trading exchange under BK Group that was built by Wall Street’s senior quantitative team and the world’s top risk control talents. BKEX uses the world’s top security technology and is dedicated to maximizing the aggregation of global high-quality blockchain assets. BKEX Global provides users with efficient and safe circulation of assets in blockchain.
MEXC
MEXC Exchange, founded in April 2018 in Seychelles, East Africa, is one of the world’s largest digital asset trading platforms. The team’s core members come from world-class organizations and financial firms with extensive experience in the blockchain and financial industries.
MEXC Exchange keeps developing and integrating one-stop trading solutions for digital assets. These include spot, margin, contract trading and leveraged ETFs. MEXC is backed by a top-tier security firm to protect user assets. MEXC also has a skilled security team. Since its founding, MEXC applied for compliance licenses to be issued in four countries, including Canada and Estonia.
PancakeSwap
PancakeSwap (Decentralized Exchange) is one the most popular DEXs based upon the Binance Smart Chain. It’s an automated market maker (AMM) system that allows crypto trading with user-generated liquidity pools.
PancakeSwap offers an alternative to Uniswap, which is more well-known Ethereum-based DEXs. PancakeSwap began in September 2020 and was started by unknown developers. It is made up of more than twelve members, commonly referred to simply as chefs. The co-leaders are Hops and Thumper and two other engineers. PancakeSwap is partially managed by the community, and CAKE holders can vote on governance proposals using PancakeSwap’s voting platform.
A Decentralized Exchange is the best way to buy Biswap BSW
You can easily purchase Biswap by following our step-by–step guide:
- Find Biswap BSW on a decentralized exchange and ensure Biswap can be traded for BNB, Binance’s native asset. Binance Smart Chain’s most popular DEX is PancakeSwap. Register an account following the exchange’s requirements.
- An exchange, such as Crypto.com allows you to purchase BNB in order to trade BSW for BSW. Transaction fees, also known as gas fees, are paid on the BSC Network. These fees, which usually cost less than 1 US Dollar, can be paid using a cryptocurrency.
- To connect to the DEX, transfer the BNB to a web 3.0 bank such as MetaMask.
- Follow these instructions to swap BNB for BSW via PancakeSwap. To cover your gas costs, make sure that you have enough BNB.
- Wait for the transaction to be completed, and you’ll receive the BSW tokens in your wallet.
- Now you can store your BSW tokens online in your web wallet. Or move them to a secure hardware wallet.
How to Buy Biswap BSW
You should be aware that buying cryptocurrency is risky. However, you have several options to lower your risk.
Don’t buy coins based on FOMO:It is important to spend time looking into a coin, particularly if it has risen suddenly without any apparent cause.
Keep your eyes on well-respected exchanges. Unless you’re a seasoned cryptocurrency trader, stick to more well-known crypto exchanges to avoid losing money in a scam. As much as possible, store your cryptocurrency on a hardware wallet and not an exchange.
Investigate the coin’s creators and developers: Anonymous teams are frequently a red flag, so you might consider investing in a different cryptocurrency if you can’t locate information about the coin’s developer.
Selling Biswap
To cash your BSW, you can use the same method as to buy it again through the same exchange.
1. Register to your exchange account if you already have BSW.
You can compare cryptocurrency exchanges to buy your Biswap, if it is kept in a virtual wallet.
2. Make a purchase order.
Choose the BSW amount you wish to sell.
3. Close your transaction.
Complete your BSW sale by confirming the price, fees and contract.
Closing Thoughts
Biswap, a brand new company in Binance Smart Chain ecosystem has established itself as an effective competitor with Total Value Locked (TVL), of 644.83 Million and a market capitalization $345.27M.
Biswap is worth considering due to its talented team, tokenomics strength, expanding user base and unique features.
To learn more about cryptocurrency exchanges and portfolio trackers as well as wallets, you can visit the CoinStats blog. You also have access to our detailed buying guides that explain how to purchase various cryptocurrency such as How do I buy bitcoin, DeFi, or How do I Buy cryptocurrency.
Investment advice Disclaimer Information on this site is for informational purposes only. CoinStats does not endorse any recommendation to sell, buy or hold securities or financial products or instruments. This information does NOT constitute financial advice or investment advice.
Because cryptocurrency can fluctuate and be subject to secondary activities, it is important to do independent research and to get advice. You should only risk losing what you have invested. Trading stocks and CFDs can be risky. CFDs can result in losses between 74-89% for retail investors accounts. It is important to consider all aspects of your financial situation before you make any investments. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant regulators’ websites before making any decision.
FAQ
Which is the Best Place to Buy Biswap
Binance, currently the best place to purchase Biswap is Binance. Gate.io is another exchange that supports BSW. PancakeSwap and PancakeSwap also support BSW.
Are There Any Biswaps With Fiat?
To buy Biswap in fiat currency you will need to purchase USDT via Kraken. Then, transfer the USDT to an Exchange that supports Biswap. Binance, which is the most well-known exchange to trade USDT, is one example.
With a Credit Card, which Exchange can I buy Biswap?
Biswap can also be bought using credit cards on Binance, Bitget, or Bitrue. Although it is an easy and quick way to pay for cryptocurrencies, credit cards often have higher fees than traditional fiat-based payment methods.
What are the most popular biswap trading pairs?
BSW/USDT, the most used Biswap trading pair across different cryptocurrency exchanges is BSW/USDT.