Biswap DEX Review
Biswap Website Review
- Biswap is a decentralized exchange (DEX) specifically developed as a means of enabling users to swap tokens that are developed on top of the BNB Smart Chain.
- This means that all of the tokens that follow the BEP-20 token standard can be bought, sold, or even traded on top of the DEX.
- The DEX also allows people to engage in liquidity mining and yield farming, alongside getting access to the launchpools.
- BSW is the native cryptocurrency token used across Biswap, which is used for a variety of different things.
Biswap is the first decentralized exchange that utilizes a three-type referral system and has some of the lowest platform transaction fees at 0.1%. You need to connect a wallet to Biswap, after which you will be given the opportunity to essentially make any swaps on top of it. By utilizing all of the various features which are available on Biswap, users are given access to functions such as liquidity mining, which enables them to provide liquidity to any of the pools on the exchange.
Users can also engage in yield farming across over 50 farms, and there is even a native non-fungible token (NFT) marketplace alongside high yields.
Due to all of these reasons, Biswap has become an appealing option when it comes to many cryptocurrency enthusiasts who are looking for a platform through which they can trade BEP-20 tokens, and as such, today, we are going to go over the Biswap website and see what exactly it has to offer to each new user.
First, we will be going over the main website, specifically the homepage, so we can see everything that the website tells us regarding this new and exciting decentralized exchange (DEX).
The very moment you visit the official Biswap website for the very first time, you are showcased a lot of information in regards to all of the options available on the platform.
Specifically, there is one huge difference when compared to competing platforms, and that’s the fact that the navigation bar is now located on the left side of the screen as a sidebar.
Here, you can get access to numerous subpages and actions available on the platform, including:
- Fixed Staking
- NFT Launchpad
- NFT Earn
- Referral Program
However, before we dive too deep into each category, let us go over everything available on the home page. Specifically, on the top corner of the screen, on the left, there is access to the Biswap Market. On the left side, you have an “Authorized by CertiK” certification icon, alongside the ability to connect your wallet.
Once you click on "Connect Wallet," you will be able to pick from a multitude of supported wallets, including:
- Binance Chain
- SafePal Wallet
- Coinbase Wallet
- Huobi Wallet
On the top side of the screen, you will also find DEX's main slogan that says, "The First DEX on BNB Chain with a three-type referral system," which gives you an in-depth look at what you can expect from it, even prior to using it.
You have a “Trade Now” button, which is followed by information regarding the DEX.
Specifically, the website claims that it has the lowest trade fee within the decentralized finance (DeFi) space at just 0.1%, alongside exchange fee reimbursement of up to 70%.
Then you get information about the total value locked, as well as the total trading volume, which gets updated live.
Underneath this screen, you have information about some of the most popular cryptocurrency tokens and markets, alongside an arrow that points you to "All Markets."
Underneath this specific category of the homepage, there is a slider menu that has a variety of different promotions, incentive programs, and updates on the latest farms, which are added to the decentralized exchange (DEX).
Below this section, you will find two distinctive tabs. Here, you will be able to see the Earn BSW + Fees in farms options, where you will find some farms with high APY highlighted, including:
This is on the left side of the screen. Then you have the right side of the screen, which features launchpools with high APY, where you can stake BSW tokens, and this includes:
- Holder Pool
- Auto Compound
- Earn BSW
- Earn PAE
Underneath this section of the page, you will now be able to find the “Our Benefits” section of the DEX. Here, you will be able to review all of the information that the website advertises in terms of the various advantages you have when it comes to the usage of Biswap.
Here’s everything that’s listed here:
- 3-Type referral program - Here, you can essentially invite your friends where you can earn a commission reward every single time they end up making a swap on biswap, where you can also get 5% from their income that occurs within Farms as well as Launchpools.
- Lowest Exchange fee - This means that you can essentially buy as well as sell cryptocurrency with the lowest exchange fee within the DeFi space.
- Trade Fee Reimbursement - You can easily make a swap on Biswap at no cost, which is up to 70% of the trading fee and gets returned in the form of BSW tokens.
- Competitors - You can essentially participate in the Biswap trading competitions, which occur on a regular basis, and win exclusive rewards.
Then, below this section, you will find information regarding the total volume, the 24-hour volume, the number of active users, the number of trading fees saved, and the total LP earned by the users.
Underneath this specific section of the page, there is also information regarding the reviews from reputable crypto resources, where anyone is able to read more surrounding the accomplishments of Biswap on the most reputable crypto resources.
Then there’s the strategic investor section, where we can learn how Binance Labs, which is the venture capital and incubator of finance, has undergone a strategic partnership with Biswap, where this synergy is aimed at bringing high-quality products as well as services to the DEX.
At the bottom of the page, there is also the about section, the products section, the service section, and the community section.
That is everything you will be able to find on the homepage of the Biswap DEX, so let’s now go over a bit more surrounding its history as well as its functionality.
History of Biswap
Biswap is a decentralized exchange (DEX) that was originally created and launched for the very first time in 2021. Furthermore, it lists 27 core team members, where the entire team uses avatars and is not actually named after their full, official names. Some of the key developers and members of the team here include "EK" as the CEO, "Kevin" as the Product Manager, and "Miles" as the Project Manager. While there are numerous other people listed, they are all using pseudonyms, which means that we cannot really know who they are.
However, what we do know and can find out is the fact that “EK” is a veteran within the crypto space that has years of experience within the space.
In terms of the functionality surrounding Biswap, once you connect your wallet, you can initially make a swap directly on the decentralized exchange (DEX).
To do this, you would indicate the cryptocurrency that you want to exchange, after which you can click on the “swap” button in order to confirm it in your wallet, where you will be able to see the cryptocurrency get exchanged.
By utilizing Biswap, you can gain access to functionalities, such as liquidity mining. This means that you are essentially able to provide liquidity to any one of the pools on the exchange, and to do this, all you would have to do is click on “add liquidity” within the “liquidity tab” from the official website.
Furthermore, alongside all of that, each user is given the opportunity to engage in yield farming across the numerous farms that are available. Here, all they would have to do is stake their LP tokens in a farm, after which they would passively start earning rewards.
Alongside all of this, users can get access to what is known as launchpools, and they can earn more BSW tokens as well as other tokens by simply staking BSW launchpools on Biswap.
One unique aspect about this specific DEX is the fact that it features its own non-fungible token (NFT) marketplace, which enables users to essentially swap NFTs through the utilization of the lowest fees on the BB chain. They can also buy and sell NFTs to get a “Robi Boost '', alongside discovering and collecting unique NFTs. They would just need to cover 1% when it comes to the commission fee in the marketplace.
THen we need to cover the interesting referral program. When it comes to one of the unique features of the DEX, users are given the opportunity to earn from their referrals in three ways. First, they can earn a share of their trading fees as well as 5% of the farms and launchpool rewards. The rewards can come out of the daily BSW block emissions, as 4.3% of the total tokenomics are allocated to this.
Pros and Cons of Biswap
- Biswap features the lowest exchange fees across all decentralized exchanges that specifically run on top of the Binance Smart Chain, which is just 0.1% per swap, which makes it one of the most appealing options to serious traders.
- The unique three-type referral system provides an excellent opportunity through which users can earn passive income.
- This DEX has been fully audited by CertiK, which is a leading audit corporation on a global scale when it comes to the crypto world.
- Each of the farms available has a high APY.
- The decentralized exchange is fairly new and, as such, has not proven itself throughout the test of time.
- The DEX is meant for tokens that are specifically developed on top of the BNB Smart Chain and, as such, follow the BEP-20 token standard.
The Bottom Line
Biswap (BSW) is a solid decentralized exchange (DEX) that has been specifically built to support BNB Smart Chain (BSC) tokens, all of which follow the BEP-20 token standard and has the lowest fees of just 0.1%.
The additional introduction of features and technologies, such as the three-type referral program, is also an excellent addition for users that aim to earn passive income through using it, and the high APY farms are also a solid addition.
The website is designed well, where you are showcased all of the essential information that you are looking for even from the very homepage, prior to jumping into each subpage individually, which is excellent as the overall flow, usage, and navigation of the website is simple this way. What this results in is a smooth, simple experience for newcomers, who might be experiencing a DEX for the very first time, and this is what makes Biswap so appealing.
Frequently Asked Questions (FAQs)
Is Biswap (BSW) Safe to Use?
While there is never a 100% guarantee that anything which is hosted online in one way or another is safe, Biswap has a lot going for it due to the fact that it has no history of hacks, and it has been audited by CertiK, which is one of the most credible cryptocurrency auditors that are currently available.
How Can Someone Make Money on Biswap?
There are numerous ways through which someone will be able to make money on Biswap. For example, they can provide liquidity to any of the pools available on the Biswap exchange.
They will get returns in both the BSW token and the other cryptocurrencies which are available within the pool. Additionally, users can stake their BSW in the launchpools and get returns in the form of more BSW tokens.
What Does the Multiplier in Biswap Farms Indicate?
The multiplier is essentially the ratio that showcases which part of a block goes to the specific farm within the span of every 3 seconds.