BazarSwap: OTC Decentralized Exchange (DEX) for ERC20 tokens
BazarSwap is making it easy to swap ERC20 compliant tokens on easy terms.
The company says that it is the first OTC Decentralized Exchange (DEX) for ERC20 tokens, and it makes it simple, and inexpensive, to swap tokens without having to trust a Centralized Exchange (CEX).
There are many reasons why DEXs make sense for traders and investors, and BazarSwap has built a range of powerful features into its exchange platform.
In fact, for the moment, there are no exchange fees for anyone that wants to see how well BazarSwap works, and the gas fees that it charges are in-line with the rest of the DEX industry. Overall, it is an interesting DEX that is worth knowing more about.
Additionally, BazarSwap offers its clients the following features:
- No Slippage
- OTC Trading (P2P Exchange)
- Zero Exchange fees
- 100% Decentralized
- Direct and automatic Payouts for Buyers and Sellers
- The tokens for sale are never transferred to the exchange
- Users can add any ERC20 token for sale to the exchange
Why Choose a DEX Like BazarSwap?
The CEX model is taken directly from the established financial markets, and it leaves a lot to be desired from the standpoint of user safety.
When a person trades with a CEX, they lose control over their tokens and may have a hard time getting their assets back from an exchange. This has happened a few times, with the Mt. Gox scandal standing out as a prime example of what can happen with CEXs.
From the standpoint of user safety, DEXs are vastly superior to CEXs. As BazarSwap demonstrates, when you use a DEX, you never lose possession of your tokens, and until a swap is performed successfully, you never have to compromise the safety of your tokens.
While DEXs aren’t a perfect solution, and the DEX ecosystem is still evolving, there is every reason to support DEXs, as they provide a much higher level of both safety and transparency to token holders.
BazarSwap How it Works
Let’s take a look at how BazarSwap operates. This information is supplied by BazarSwap, and it is a basic rundown of how simple it is to use the platform.
- When you set for sale an erc20 token in Bazarswap you are setting for sale your whole current and future balance of your selected token at your desired price
- After you set your tokens for sale, you can transfer or deposit more coins in your wallet address without any restrictions, the new balance will be shown for buyers in Bazarswap and when a buyer purchases your position your whole balance will be sold at the price you defined.
- As a seller you can create multiple addresses and set for sale different address balances at different prices, to manage multiple addresses we recommend metamask
- If you transfer all your coins out of your wallet, the BazarSwap engine will identify that and your address will be removed from the trade pages, however, if later your wallet address balance is greater than 0, it will be shown for sale again without the need of any action
- When someone buys your tokens, the whole balance from your address will be sent to the buyer and you receive the ETH automatically, 100% decentralized
As you can see, it is extremely easy to use BazarSwap, and keep your tokens safe. You will also be able to make deals and know that there won’t be any price slippage, and for the moment, there aren’t any exchange fees, just network gas fees.
How Fees Work With BazarSwap
If you want to trade with an exchange that doesn’t charge any fees for swapping tokens, you can use BazarSwap today. While there will be fees charged in the future, you can trade for free (just pay gas fees) right now.
In the future, BazarSwap will charge exchange fees, and the Minereum Fee Share Holders will receive these fees. The good news is that Minereum Fee Shares can be bought by anyone, just by visiting the Minereum Fee Share DEX.
When you buy Fee Shares with MNE tokens, the tokens will then be burned, which could be helpful to the value of MNE tokens over time. This is a great way to participate in the BazarSwap ecosystem and gain over time.
Promotion
In addition to offering fee-free trades, BazarSwap is also offering its users the chance to win 6 ETH – just for choosing to trade with BazarSwap. The promotion is easy to participate in, and you can learn more about how you could win 6 ETH.
Helping to Build Better Exchanges
BazarSwap is offering its users a lot of functionality for very little in terms of costs. The fact that the platform guarantees no price slippage is a great feature, and for the moment, traders only have to pay network gas fees, not exchange fees.
There is no doubt that DEXs are better for traders, as they simply don’t create the same level of risks. As more traders see the advantages of DEXs over CEXs, platforms like BazarSwap should be able to grow with the shift in the marketplace.
Take a Deeper Look at BazarSwap
If you are looking for a DEX that is both totally decentralized and offers instant payouts to both buyers and sellers, BazarSwap is worth keeping in mind. The team at BazarSwap knows what traders want in a DEX, and it was created to accommodate both large and small traders.
Like any well-designed DEX, BazarSwap allows traders and investors to retain 100% control over their tokens at every stage of the trading process, and the token is only released from a trader’s custody once a transaction is made successfully, and at the terms that the trader agrees with.
If you want to learn more about BazarSwap, or how the platform works, just click here for more information. It is a well-thought-out exchange structure that is likely to take part in the rise of the DEXs, which offer a lot of advantages over CEXs to traders and investors.
The post BazarSwap: OTC Decentralized Exchange (DEX) for ERC20 tokens appeared first on Blockonomi.
OhNoCryptocurrency via https://www.ohnocrypto.com/ @Nicholas Say, @Khareem Sudlow
