The BSC (Binance Smart Chain) is arguably the most diversified blockchain in the DeFi space, with thousands of unique coins serving various purposes. Biswap is one sparkling gem hidden 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 is a decentralized exchange platform that allows users to swap BEP-20 tokens on 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.
Read on to learn everything you need to know about Biswap and how to buy Biswap in a few simple steps.
Let’s jump right in!
- The lowest fees (0.1% per swap) among all the decentralized exchanges on the Binance smart chain.
- Farms that provide high APY, with some offering as much as 600% or more.
- Three-tiered referral system via which users can earn passive income.
- A SAFU insurance fund was created to protect users against potential funds loss. This function receives 1% of the entire tokenomics budget.
- Transaprent fee structure.
- Audited by Certik, one of the major audit firms in the crypto realm.
- A new exchange that hasn’t stood the test of time.
- Only for coins/tokens that are part of the Binance Smart Chain. Binance, a centralized legal corporation, is linked 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.
- The team is anonymous. This implies that they can disappear at any moment if they want to.
- Everything is decided by the team. Community governance and voting procedures are yet to be developed.
What Is Biswap
Biswap (BSW) is a Binance Smart Chain decentralized exchange (DEX) for BEP-20 tokens (BSC). Biswap promises the lowest transaction fees of any BSC exchange at 0.1% and is committed to DeFi innovation through high-quality products and services. Its three-type referral system allows users to invite friends and earn referral money from farms, launch pools, swaps, and a lottery. 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:
- Improvements in its NFT marketplace
- A swap referral program
- Listing on major crypto exchanges
- Borrowing and lending
- Limit orders
- A personal user dashboard
- Cross-chain support.
Biswap also announced a $10 million global incentive program to encourage collaboration with other BSC projects. Fee reimbursement of 90%, farming pairs with BSW, a launch pool, marketing promotion, and subsidies for security audits and project development are all available to partners.
BiSwap Exchange Features
BiSwap Exchange provides its users with a plethora of features, such as:
Launchpools: The platform interface allows users to earn extra BSW and other tokens by staking BSW in relevant Biswap Launchpools. There are two types of pools: auto-compounding and non-compounding tools, and they both provide competitive interest rates. In addition to BSW, the launchpools allow you to farm tokens like CAKE, DOGE, BUSD, etc.
Liquidity Mining: You can deposit funds into any pool 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. Besides earning BSW, you can also obtain a percentage of the trading fees generated by that pool.
Transaction Mining: This cashback program allows traders to receive 100% of their trading fees back in BSW tokens. The site generally charges a minimal transaction fee of 0.1%. With this functionality, the fee is further reduced to zero in some 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: To reward users, interact with the community, and highlight new exchange listings, Biswap organizes trading and other competitions.
Referral Program: There are three ways to earn referral rewards on Biswap. 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. Furthermore, the incentives are derived from BSW block emissions, accounting for 4.3% of the overall tokenomics.
Who Are the Founders of Biswap
Biswap was founded in 2021. It has 27 employees listed on its website, but the team is anonymous and presented as only comic avatars on the site. “EK,” the CEO, is said to be a crypto veteran with seven years of expertise. Almost every member of the Biswap team claims to have several years of experience in their field, but no specifics are given. Biswap makes no mention of any potential investors.
What Makes Biswap Unique
First and foremost, Biswap differentiates itself by charging lower transaction fees than other decentralized exchanges. Biswap claims to charge only 0.1% in fees, compared to 0.25% on Pancakeswap, and 0.3% on Mdex, Apeswap, and other BSC DEXs. As an incentive, 0.05% is returned to liquidity providers, and 0.05% is used for BSW token burning. Biswap retains the right to raise the fees in the future and add a team allocation. It does, however, pledge to keep the fees below the industry average.
Users can participate in transaction mining, which means they can receive up to 90% of the 0.1% swap fee, depending on the trading pair. They can also provide liquidity to pools and earn BSW farming incentives. Biswap also features an NFT marketplace, allowing users to buy NFTs with 4 other cryptocurrencies: BNB, WBNB, BUSD, and USDT. Biswap also offers its own NFTs, known as NFT Earn, including an NFT Launchpad, NFT Boost, NFT Staking Pool, and NFT Level Upgrade. 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.
Finally, Biswap offers an IDO Launchpad, allowing other blockchain companies to use Biswap to launch their tokens. The DEX claims to have over 300,000 active users and provides a $10 million incentive scheme to new participating projects.
How Is the Biswap Network Secured
BSW is a BEP-20 token on Binance Smart Chain (BSC), which is secured by a Proof-of-Stake (PoS) consensus mechanism. Every 24 hours, 21 validators are elected to validate transactions and keep the blockchain secure. To be eligible, these validators must stake a specified amount of Binance Coin (BNB) with Binance. Biswap has a bug bounty program as well. Depending on the security issue, you might receive anywhere from $10 to $100,000 for reporting vulnerabilities.
Biswap has been audited by Certik, one of the leading DeFi audits to date.
There are more than 350 million dollars in total locked value (TLV), which gives more security and credibility to Biswap.
How Many Biswap (BSW) Coins Are There in Circulation
BSW is the exchange’s governance token, with a total supply of 700 million. The 600 million BSW will be distributed as follows:
- Farms / Launchpools: 80.7%
- Team: 9%
- Investment Fund: 5%
- Referral Program: 4.3%
- SAFU (an emergency insurance fund for all users): 1%
The remaining 100 million BSW has been allocated 70/30 between NFT (Earn), GameFi (Play to Earn), Strategic Partnerships (70%), and Transaction Fee Mining (30%). Biswap also implements several deflationary mechanisms, including burning 50% of transaction fees, 13% of lottery tickets, 10% of sales proceeds, and 10% of new NFT mints.
Biswap BSW Tokenomics
According to the data on CoinStats, Biswap BSW has a maximum token supply of 700,000,000 and a total supply of 263,971,340. The current circulating supply stands at 225,403,465 tokens (~32% of the total token supply). You can also check the BSW current price, market cap, total supply, circulating supply, trading volume, price chart, and other metrics on CoinStats.
Where Can You Buy Biswap (BSW)
Binance and Gate.io are the most popular cryptocurrency exchanges in terms of trading volume to purchase BSW. There are many other major exchanges where you can buy Biswap, such as BKEX, MEXC, PancakeSwap, Hoo, etc. 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.
Best Crypto Exchanges to Buy Biswap
Binance is one of the leading cryptocurrency exchanges in terms of trading volume. Low exchange fees and high liquidity are among the advantages of buying Biswap BSW on Binance, allowing you to buy and sell digital assets rapidly to take advantage of market possibilities.
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, founded in 2013, has evolved into a recognized 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. The exchange has a vast number of cryptocurrencies, including Biswap BSW, and is frequently the first to introduce new tokens.
This exchange presently accepts citizens of the United States, except for New York and Washington State.
BKEX, a global digital asset trading exchange, was founded in the British Virgin Islands in 2018. 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 has provided users in over 100+ countries and regions with safe, efficient, and intelligent circulation services of blockchain assets.
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.
The MEXC Exchange continues to develop and integrate one-stop trading services for digital assets, such as spot, margin, and contract trading, leveraged ETF, etc. MEXC has an experienced security team and collaborates with other top-tier security firms to fully secure the safety of user assets. MEXC has applied for compliance licenses in 4 countries since its inception, including Estonia, Canada, and the United States.
PancakeSwap is one of the largest decentralized exchanges (DEXs) based on the Binance Smart Chain. It’s an automated market maker (AMM) system that allows crypto trading with user-generated liquidity pools.
PancakeSwap is an alternative to Uniswap and other more established Ethereum-based DEXs. PancakeSwap was created in September 2020 by anonymous developers. The team comprises more than a dozen members (referred to as chefs), including two co-leads (referred to as Hops and Thumper) and other engineers. PancakeSwap is partially managed by the community, and CAKE holders can vote on governance proposals using PancakeSwap’s voting platform.
How to Buy Biswap BSW Using a Decentralized Exchange
Follow our step-by-step guide to easily buy Biswap:
- 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.
- Using an exchange such as Crypto.com, buy BNB to trade for BSW and pay for transaction fees (known as gas fees) on the BSC network, usually less than 1 USD.
- Transfer the BNB into a web 3.0 wallet such as MetaMask to connect to the DEX.
- Follow the on-screen instructions to trade BNB for BSW on PancakeSwap. Make sure you have enough BNB in your wallet to cover gas fees.
- Wait for the transaction to be completed, and you’ll receive the BSW tokens in your wallet.
- You can now store the BSW tokens in your web 3.0 wallet or move them to a more secure hardware wallet.
What to Consider When Buying Biswap BSW
Buying cryptocurrency is a risky venture, but there are several steps you can take to reduce risk:
Don’t buy coins based on FOMO: Spend time investigating a coin before investing, especially if the price is skyrocketing for no apparent reason.
Stick with well-known exchanges: Unless you’re a seasoned cryptocurrency trader, stick to more well-known crypto exchanges to avoid losing money in a scam. If possible, keep your cryptocurrency in a hardware wallet rather than on 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.
How to Sell Biswap
You can follow the same process to cash out your BSW with the same exchange you bought it through:
1. Sign in to the exchange account where you have BSW.
Compare crypto exchanges to sell your Biswap if you keep it in a digital wallet.
2. Place a sell order.
Select the amount of BSW you want to sell.
3. Complete your transaction.
Confirm the selling price and fees, and complete your sale of BSW.
Biswap is a new player but has already established itself as a capable competitor in the Binance Smart chain ecosystem with a Total Value Locked (TVL) of 644.83 million and a market capitalization of $345.27 million.
Biswap deserves consideration because of its skilled team, strong tokenomics, active and expanding user base, unique features, products, and attractive staking and farming opportunities.
You can also visit our CoinStats blog to learn more about wallets, cryptocurrency exchanges, portfolio trackers, tokens, etc., and explore our in-depth buying guides on how to buy various cryptocurrencies, such as How to Buy Bitcoin, What Is DeFi, How to Buy cryptocurrency, etc.
Investment Advice Disclaimer: The information contained on this website is provided to you solely for informational purposes and does not constitute a recommendation by CoinStats to buy, sell, or hold any securities, financial product, or instrument mentioned in the content, nor does it constitute investment advice, financial advice, trading advice, or any other type of advice.
Cryptocurrency is a highly volatile market and sensitive to secondary activity, do your independent research, obtain your own advice, and only invest what you can afford to lose. There are significant risks involved in trading CFDs, stocks, and cryptocurrencies. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider your circumstances and obtain your advice before making any investment. 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.
Which Is the Best Exchange to Buy Biswap
Currently, Binance is the best exchange to buy Biswap. Other exchanges that support BSW are Gate.io, PancakeSwap, BKEX, MEXC, and Hoo.
Where Can I Buy Biswap With Fiat
If you wish to buy Biswap with fiat currency, you can purchase USDT on Kraken with fiat currency and then transfer your USDT to an exchange that supports Biswap. Binance, for example, is the most popular exchange for trading USDT.
On Which Exchange Can I Buy Biswap With Credit Card
Biswap can be purchased using a credit card on Binance and other cryptocurrency exchanges such as Gate.io, Bitget, and Bitrue. Using a credit card to buy cryptocurrencies is a quick and simple payment method, but it often comes with higher fees than other fiat-based methods.
Which Are the Most Popular Biswap Trading Pairs
BSW/USDT is the most popular Biswap trading pair on different cryptocurrency exchanges.