In this post, I mentioned 5 advantages of using the renowned Biswap DEX.
Though it is less than a year old, Biswap is the talk of the crypto town.
Well, I’m not surprised because the exchange offers a variety of excellent services like token swaps, liquidity pool, etc.
Not just that, it also has some unique features that make it preferable to others.
Top of the list is a three-type referral system.
Sounds interesting? Keep reading for more details.
Table Of Contents
- Biswap Overview
- Products And Services Offered By Biswap
- 5 Advantages Of Using Biswap
- How To Get Started On Biswap
Click on any item above to read its details immediately.
Biswap is a decentralized exchange that runs on the Binance Smart Chain.
It was founded by a pseudonymous team in May 2021.
Like other major DeFi projects, Biswap enables users to earn from liquidity pools, yield farming, and NFTs.
Additionally, it charges the lowest fee (0.1%) for token swaps.
As of 12/04/2022, Biswap has a record of $817,884,200 TVL (total value locked) and $44,687,819,560 in total trading volume.
Also, it distinguishes itself by providing a three-type referral system.
Let’s talk more about that and other services in the next section.
Products And Services Offered By Biswap
This service enables users to exchange tokens.
Unlike other DEX that charge up to 0.3% exchange fee, Biswap charges only 0.1%
Not just that, you’ll get back 70% of the fees you pay in BSW (the native token of Biswap).
You can then withdraw them or use them for other activities on the platform.
Here, users can provide liquidity to available pools and earn liquidity provider (LP) tokens.
These LP tokens are staked on the Biswap farms to earn BSW tokens.
Moreover, liquidity providers earn a share of the trading fees generated from the pool that they supply liquidity.
Users receive mouthwatering rewards when they stake their tokens in the over 50 farms on Biswap.
For example, the BNB-BSW farm offers up to 187.60% APY.
Via this service, users receive new tokens when they stake their BSW tokens.
Secondly, you can stake other tokens to receive BSW.
In both cases, the given pool will specify the token to be received and at what rate.
For instance, the Earn ETH pool requires you to stake 200 BSW to earn ETH at the rate of 59.50%.
Furthermore, you can also apply for your project to be listed on the exchange.
e. Fixed Staking
This service allows you to stake a token and receive profit with a fixed APR in the same token.
For example, when you stake ADA, you’ll also earn ADA at a fixed APY.
And you can choose to participate for a 30, 60, or 90 days lock term.
Here, users can participate in Initial DEX Offerings and get new tokens.
You only need to deposit some BSW to receive the new token at the end of the IDO launchpad.
There are two options – Limited and Unlimited.
Just like their names sound, the former option has a maximum deposit limit while the latter doesn’t.
This service enables users to play games and earn rewards.
For now (13/04/2022), it is only the Squid NFT game that is available.
h. NFT Services
As you’d expect, Biswap also allows users to trade NFTs.
You can receive new NFTs from the launchpads, stake your NFTs to earn rewards as well as buy/sell in the Biswap NFT marketplace.
Interestingly, Biswap organizes regular contests and lotteries to reward active users and traders.
This service also makes room to create awareness for new listings on the exchange.
j. Referral program
Now, this is the sweet part.
Biswap like I mentioned earlier has a three-type referral system, namely:
Swaps – you’ll receive a 10% commission reward every time your invited friend makes a swap.
Farms & Launchpools – also, you will receive a 5% return from your friends’ earnings from farms and launchpools.
GameFI – when you invite your friends to play, you’ll get 3% from every win.
Learn more about the referral program here.
I’m pretty sure you love what you’ve read so far.
Let’s now see the advantages of using this platform.
5 Advantages Of Using Biswap
If you’re seeking a convenient DEX for your DeFi activities, you should consider Biswap because:
1. It charges the lowest fee on BNB Chain i.e. 0.1% for the exchange of crypto.
2. Biswap provides you with an array of trading opportunities to make a profit like token swaps, liquidity pools, NFTs, Farms, etc.
3. Another reason why you should trade with Biswap is because of its multi-type Referral Program.
Once you refer someone, you get a commission from any service of the exchange that they use. Cool, right?
4. Impressively, Biswap reimburses users their trade fees up to 70% in its native token (BSW).
You don’t want to miss that, do you?
5. Lastly, this exchange organizes competitions on a regular basis, where active users receive amazing rewards (cash, coins, lottery tickets, NFTs, etc)
You want to start using this exchange already, don’t you?
Not to worry, I’ll show you how in the next section.
How To Get Started On Biswap
i. Go to Biswap.org and click on “Connect Wallet” from the top right corner.
ii. Select your preferred wallet from the listed options.
iii. Once your wallet is connected, select the service you need from the menu on the left side.
Pretty simple, huh? Enjoy!
We’re almost done here. Let’s answer a few questions and then we can call this post a wrap
Although the founding team is pseudonymous, I still think the exchange is safe because it is audited by Certik, one of the leading audit corporations in the crypto world.
Moreover, it exists on the smart chain of the highly reputable Binance exchange.
Also, it has a SAFU insurance fund that hedges users against any potential loss of funds.
On TrustPilot, the platform has an average rating with a mixture of bad and good reviews.
However, the bad reviews appear to be a result of scammers posing as Biswap.
But the absence of responses from the Biswap team didn’t help at all.
Another thing we can hold on to is that Biswap partners with other reputable projects like Betfury, DappRadar, Dapp.com, etc.
Gratefully, it has a GitHub account where its activities can be verified.
Plus, its native token BWS is used for various functions e.g. incentivization of users and governance among others.
And as such, Biswap is far from being a hit and run.
Nevertheless, do due diligence before using this platform.
All BEP-20 tokens and wrapped BEP-20 tokens are supported.
Biswap has a news portal that users can visit to stay up to date with events on the platform.
Also, you can connect via these channels:
Biswap makes DeFi fun and profitable with its excellent services.
I also like the additional packages that offer users cool rewards.
However, the founding team needs to work on improving its reputation.
That said, we have come to the end of this Biswap review. I hope you enjoyed the read.
Are you ready to start using Biswap? Then click here.
Still got some questions on the platform? Feel free to drop them in the comments section.
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