Biswap Review – Is This Decentralized Exchange Right For You?

Biswap is a decentralized exchange platform built for the Binance Smart Chain network and all its supported crypto assets. 

The Biswap platform lets users swap, stake, and earn crypto, view and trade NFTs, and much more, all on the Binance Smart Chain (BSC) through a variety of products and services. It’s also the first decentralized exchange to offer a referral program.

And unlike many other chains in decentralized finance, the Binance Smart Chain network guarantees superior speed and lower network transaction costs to accomplish all these crypto services with improved efficiency.

With its incredibly low trading fees, advanced trading interface, NFT marketplace, and full suite of crypto services, including farming and liquidity pools, Biswap is a one-stop shop for BSC services.

So, if you want to learn all about the Biswap platform and whether or not it’s right for you, stick around for this in-depth Biswap review!

Biswap Decentralized Exchange

The Biswap DEX (decentralized exchange) supports nearly 100 crypto assets and, despite being a Binance-focused platform, includes assets like ETH, ADA, DOT, and many other non-Binance-native coins and tokens.

The exchange order panel is just like any other standard crypto decentralized exchange with two dropdown windows to choose your assets, but there is an option to switch to expert mode, where you can see a price chart.

The Biswap exchange also has some of the lowest platform transaction fees at 0.20%, which is slightly better than the 0.30% charged by DEX competitors Uniswap and SushiSwap.

Users can even connect with Mercuryo or their Binance account to purchase crypto with fiat if they don’t have any crypto to swap. 

Biswap Trading

As alluded to above, Biswap includes an expert mode that will take you to an advanced trading chart powered by TradingView.

The advanced trading interface also includes a trade history window, but there isn’t any level 2/time and sales window, and no special order types are supported.

Nevertheless, most DEXes don’t support any price charts or alternative order types, so including the former is a notable advantage.

Biswap Farms & Liquidity Pools

In addition to its exchange, Biswap supports liquidity pooling for any of its supported crypto assets for users to earn passive income on their crypto portfolio as liquidity providers.

And through its multi-reward pool, users will get multiple rewards in different tokens, such as BSW (the Biswap governance token), WBNB, BUSD, and partners’ tokens.

To join the pool and get such rewards, you have to stake BSW tokens and activate them by trading volumes.

For any of the pooling, when you enter an amount to be pooled, Biswap will tell you the exchange rate for each asset and your share in percentage terms of the pool to which you are adding liquidity.

When you add liquidity, you will be given pool tokens known as LP tokens that represent your share. If you don’t see a pool you like on the list, you can select your own pool via the dropdown window of the “Liquidity” tab of the exchange panel.

While there aren’t any fancy bells or whistles for Biswap’s liquidity pooling, it’s easy to use and should support more than enough assets for the average participant. 

Biswap Crypto Staking

At the moment, Biswap supports three tiers of staking for three different assets: BNB, ADA, and DOT.

Users will have the option to stake for 30, 60, or 90 days with higher APYs earned for longer staking durations.

The BNB APYs are 5%, 6%, and 10%; the ADA APYs are 7%, 8%, and 12%; and the DOT APYs are 11%, 13%, and 19%.

To participate in the staking, users will have to have at least 200 BSW tokens (the Biswap coin) in the Holder pool.

Each staking pool also has a minimum and maximum staking amount that could be restrictive for many crypto investors.

Overall, the Biswap staking options are quite limited, and the terms aren’t nearly as agreeable as other staking platforms like WhiteBit, Nexo, or Binance itself.

NFT Marketplace

The last feature of the Biswap platform worth diving into is its NFT marketplace, where users can view and trade a variety of NFT collections and auctions.

NFTs are officially verified by the Biswap team and have certain privileges on the marketplace:

• Users can put verified NFTs up for sale at their own price
• Verified NFTs are visible in the Explore tab for hundreds of thousands of users
• Whitelisted NFTs can be put up for sale via Biswap NFT Auction

Users can purchase NFTs on the Biswap NFT marketplace with four crypto assets: BSW token, WBNB, USDT, and BUSD, with a 1% commission fee that is debited from the seller.

Each participant of a Biswap NFT auction also earns 5% from the price difference gap between his and the next bid, so you earn crypto simply by participating in the auction.

How Biswap Compares to Competitors

The best platform to compare to Biswap is undoubtedly PancakeSwap, as it is the leading DEX on the Binance Smart Chain.

PancakeSwap does just about everything and more than Biswap. It is a fully functioning crypto exchange, supports crypto farming and liquidity pooling, and has a robust NFT marketplace.

Unless the Biswap interface is particularly appealing to you, there are only two noteworthy advantages Biswap has over PancakeSwap.

The first is its advanced price chart (PancakeSwap only has line charts), and the second is the crypto staking. 

Biswap’s crypto staking isn’t all that great, but PancakeSwap is arguably even worse because it only supports a few very obscure assets, though the terms could be more appealing to some.

Notwithstanding those concerns, PancakeSwap is a clear winner with a more developed ecosystem of crypto services. 

It’s always best to look into both platforms to see how each caters to your specific needs, but Biswap will likely fall short of PancakeSwap on all or most fronts.

Conclusion: Biswap Review 

After carefully walking through all of its services for this Biswap review, we believe Biswap is an excellent platform with a wide range of crypto services, but it doesn’t quite measure up to its major competitor, PancakeSwap.

Biswap has an excellent suite of services from its exchange, liquidity pooling, and NFT marketplace, but those services are simply more developed with more options on PancakeSwap.

Biswap is by no means a bad platform and is arguably in line with most of the DEXes out there, but the crypto staking is perhaps the only reason to strongly consider the platform.

One also has to keep in mind that Biswap is a Binance-focused platform, which is a relatively niche market, so the comparison to PancakeSwap matters quite a bit.

In summary, Biswap is a great platform for Binance-centric crypto traders and investors, but it’s, unfortunately, not the best platform in that very niche area of the crypto market.