Biswap: what it is and how it works | Review

By biricash | onlybestclicks | 28 Aug 2021


BISWAP is a decentralized exchange (DEX) built on the Binance Smart Chain that allows you to instantly trade tokens and earn by staking cryptocurrencies and offering liquidity to exchange pairs. At the time of writing Biswap offers percentages over 600% for farming and over 300% APY to stake BSW, the platform’s native token. Biswap is the only DEX on which it is possible to trade, buy and earn BFG, the Betfury cryptocasino token.

 

 

HOW TO JOIN BISWAP

Registration is not required to start working with Biswap. In fact Biswap is totally decentralized, which means that you can make transactions simply by connecting your wallet to the platform. To do this, click on CONNECT WALLET and then select the wallet to connect with. The advantage of operating with a decentralized exchange is that from the moment you decide to withdraw your funds, they will immediately be in your wallet.

 

 

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If you use Trust Wallet, you will need to copy and paste the address into the app browser. Copy and paste this address https://biswap.org/?ref=af421525c5872edc75c8 into the Trust Wallet navigation bar (using our link you will get 50% referral commissions back)

 

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Now select Binance Smart Chain as blockchain and finally connect your wallet.

 

 

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HOW TO MAKE MONEY WITH BISWAP

The first way to make money with Biswap is through trading. Like all DEXs, the exchange is fast and instant and the purchased tokens will be immediately in your wallet after the exchange (SWAP). Click on exchange, then select the token to sell and the one you want to receive. Before trading, make sure you have Smart Chain on your wallet to pay transaction fees (Smart Chain is the version of Binance Coin that works on DEXs). You can trade Binance Coin for Smart Chain within the DEX function of your Trust Wallet.

 

 

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In addition to trading, Biswap allows you to earn passive income through Staking (launchpool) and Farming.

 

  • LAUNCHPOOL: this function will allow you to earn by staking BSW, the native Biswap token and obtaining BSW or other Tokens. You can stake BSW and get new tokens. Or you can put on stake other cryptocurrencies and get the gain in BSW. If used wisely, this double your earning possibility allowing you to obtain a good income: for example, you can stake Dogecoin and obtain a variable interest from 50% to 200% annually, paid in BSW. The BSWs you get can be staked in another pool to get over 100% interest paid in Dogecoin, which you will stake back to get more BSW and so on, gradually fueling your earnings.

 

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To stake, approve the token, then perform a SWAP to get the token (for example Doge) and stake it. When you receive your compensation in BSW you will be able to redeem it and put it in the BSW staking pool. Remember that every operation you will do is a transaction on the blockchain, so there will be a small transaction fee.

 

  • FARMING: this function will allow you to add liquidity to currency pairs, supporting the exchanges that take place on the platform. Providing liquidity will allow you to receive a profit (a gain from the fees paid by traders to swap coins). The greater your liquidity contribution, the greater your weight in the pool and therefore your remuneration. In order to add liquidity you will need to own both currencies. Click on GET LP to add liquidity and then on ENABLE FARM to start farming. The APY is the percentage of annual earnings on your liquidity contribution. A 500% APY means you can get $ 500 for every $ 100 of cash added to the pool. Rewards are paid in BSW. To instantly redeem your earned BSWs, click on HARVEST.

 

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BSW TOKEN

BSW is Biswap’s native token. At the time of writing, the token has a value of $1.30. The maximum supply of this token is 700,000,000. The token can be farmed and obtained through staking and farming on Biswap.

 

AFFILIATE PROGRAM

Unlike many DEXs that don’t have one, Biswap also offers an affiliate program. The affiliate program allows you to get commissions from the fees paid by your referrals for exchanges made on the platform and 5% from their earnings in Launchpool and Farm. You can create custom signup links and decide to share commissions with your referrals and give back them 10%, 25% or 50% of the commissions. With our sign up link you get 50% commission back.

 

CONCLUSIONS

BISWAP is a little-beaten DEX, which owes much of its fame to its partnership with Betfury, allowing you to trade or earn the casino token. The low popularity of this DEX obviously is to the advantage of the users, who have the possibility of obtaining very high remuneration. The fees are low as the platform is built on the Binance Smart Chain. The affiliate program is something totally new for a decentralized exchange and it is certainly a positive point. We have made several Swaps on this DEX, as well as purchased BFG tokens to be transferred to BetFury and we have not encountered any kind of problem. DEXs are fairly safe protocols to work with, although for someone may seem difficult at first (if you want something simpler, try Binance Liquid Swap). However, despite the initial difficulties that may arise at the beginning, the satisfactions that the DEX can give are very large. Try it now and get 50% commission back.

 

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biricash
biricash

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