Strong points
Welcome to KyberSwap—the decentralized crypto exchange created in 2018. Made on the Kyber liquidity protocol, which allows the exchange of tokens, KyberSwap is built, more generally, on the blockchain Ethereum. As for crypto, the platform allows its users to:
Today, the KyberSwap exchange supports a fairly large option of tokens, allowing you to trade and exchange digital assets in just a few seconds with relatively low fees. The crypto exchange offers a mobile app and can integrate with popular wallets such as Metamask and Ledger.
KyberSwap is truly a decentralized app, having no third party or central authority playing the role of an intermediary between its exchanges. Transactions take place safely between user wallets.
Decentralization gives investors control of their funds and protects them from hacks and breaches. The platform’s safety is enough to trade with peace of mind as you’ll find in this KyberSwap review.
KyberSwap
KyberSwap
There’s a hefty choice of crypto assets to trade on the platform, which includes Ethereum (ETH). You can easily trade Bitcoin with up to 2x leverage. The majority of tokens available on KyberSwap are ERC-20 tokens, being a platform based on the Ethereum blockchain.
In addition to some well-known crypto assets, KyberSwap supports a variety of emerging cryptocurrencies and tokens. Variety is essential when you’re searching for a diverse range of opportunities and investment strategies. Thus, you can position yourself on various tokens and projects, which include Apecoin, Dai, Uniswap, Mada or Matic.
Simple, ergonomic and fast, KyberSwap is where you can buy and sell crypto tokens in a simple, efficient way. You can do so without using a “classic” trading exchange for your entries and exits. The site is operable but can be limiting if you want to position yourself, for example, on traditional cryptocurrencies like Solana, Polkadot or Cardano.
KyberSwap
KyberSwap
Let’s get a little deeper into the matter and try to determine how KyberSwap works. Here, we look at the different types of services hosted by the exchange. Here’s a look at some of the main features.
It’s a surprise to no one that KyberSwap, being a decentralized trading platform, offers you the option of buying and selling cryptocurrency tokens. You can therefore invest, directly from your Metamask portfolio, in a completely secure manner and at relatively low fees.
On KyberSwap, you can position yourself on tokens by placing limit orders to buy or sell your assets at a specific price. Once your listed price value is reached, which is an amount determined in advance within your order, then the order is triggered automatically.
A key advantage to KyberSwap, being a decentralized crypto exchange, are its price charts that show prices in real time. Users get current prices at the moment they access the chart of any particular coin. Charts help you to refine your analyzes to make the best possible decision.
Like most exchanges, KyberSwap integrates with the world’s leading crypto wallets. Some of the options include Metamask, Trust Wallet and Coinbase. Without a verified wallet, you won’t be able to register and connect to the platform and, therefore, you won’t be able to trade.
KyberSwap is also a mobile application available on both Android and Apple. With the mobile app, users can connect from their mobile devices where they can manage their accounts, place orders or simply keep up with the technical analysis of their assets.
Users become liquidity providers when using KyberSwap. To do this, lock your crypto assets into a liquidity pool offered by the platform. In exchange, you get earnings in the form of interest.
There’s no doubt that KyberSwap is a crypto exchange with a breadth of services and features. As a result, it’s attracting more investor interest and generating higher levels of liquidity.
In short, the platform is an increasingly popular choice for traders.
The transaction fees imposed by the KyberSwap are relatively low.
They vary depending on the trade size and type of transaction you execute. Generally speaking, the site charges between 0.05% and 0.3% across the board. Like most fees, yours get calculated based on volume and are adjusted in real time to reflect market conditions.
Fees can also be reduced when done correctly. KyberSwap will reward holders of its native token, being Kyber Network Crystal (KNC), by reducing fees. If you hold KNC, you’re granted fees ranging from 0.075% to 0.2% max. This is certainly enough to save money on your trades.
Overall, KyberSwap is relatively inexpensive to operate. Though its transaction fees are low, your use of the network’s native token will make transactions even cheaper.
The KyberSwap app is available right now for both Android users and Apple users. With the app, you can manage, trade and exchange digital assets from any device. The mobile app hosts a user-friendly interface and gives you access to all the basic features of the web version.
Directly through the app, you can:
The mobile app, like the website, connects to wallets like Metamask, Brave Wallet and Trust Wallet. If you’re not capable of trading from a computer, you can always use a smartphone.
The KyberSwap app provides a convenient way to trade and manage digital assets on the go, providing a seamless user experience across different devices.
Being a decentralized exchange means that you won’t find a specific account type. There is no basic account, premium or professional account. Anyone can register—provided that they have a wallet, and everyone will have the same access with the same type of account.
Only after registration, however, can you then start trading.
The only notable difference between account users is in their holding of KNC. This can have an impact on the amount that each transaction will cost to complete.
Decentralized platforms (DEX) are becoming more and more popular. Whether in terms of simplicity, practicality, security or equality, these platforms are on the rise and should continue to attract more and more players around the world.
KyberSwap
KyberSwap
Several measures are taken to ensure total security over user data and funds.
As explained, KyberSwap is completely decentralized.
The exchange works on the Ethereum blockchain, being one of the most efficient out there on the circuit. Since it’s decentralized, users have total control over their assets as well as their private keys, which are not provided by the platform, but by the wallet. In the event of a breach, the funds are secure—unlike what a more “classic” centralized platform offers.
KyberSwap emphasizes the security of its smart contracts. As a result, they are frequently audited by external companies and independent experts in order to guarantee user security.
Users can enable two-factor authentication (2FA) to add an extra layer of security to their accounts. This option has become essential for exchanges and trading platforms since it offers an additional barrier against attempts at phishing and therefore theft of data or funds.
With KyberSwap, there is no wallet for which you do not have the keys. In fact, to use the platform, you will automatically have to connect a Trust or Metamask wallet.
You have complete management of your portfolios.
You’ll maintain your seed phrase (password) and all rights relating to their use, having each transaction approved by you. The platform has no access, which gives you more security.
KyberSwap has a reward program for users who report security vulnerabilities and other bugs on the platform, demonstrating the platform’s commitment to keeping its users safe.
KyberSwap is audited by its external partner, Chainsecurity, which ensures that the site complies with user protection laws. However, we cannot forget that in 2022, the platform was the victim of an attack during which around $265,000 in cryptocurrencies were stolen.
KyberSwap is a completely decentralized exchange platform that runs on the Ethereum blockchain. This means that users don’t need to register on the platform in order to trade. Instead, you can connect through your trading wallet such as WalletConnect, Coin98 and Metamask. You can then start trading by buying, selling and swapping your tokens.
Let’s now get a little deeper into the matter and discuss the different steps to start trading:
First thing is to connect a wallet, which can include Trust Wallet, Coin98, WalletConnectet, Brave Wallet or Coinbase. Once your account is created and connected, you’re ready to trade. To do this, click on “Connect Wallet” at the top right of your screen, and then choose a wallet.
Once a wallet is connected, your funds are immediately available. You can then start trading. You can choose the cryptocurrency you wish to purchase from the list of tokens available on the platform. Go to “Swap” to get access to a drop-down list in which you can select tokens to sell.
Once you choose your crypto, enter the amount you want to exchange.
You can also set your own slippage between 0.05% and 1%, corresponding to the fluctuation in the amount of the targeted token at which your transaction gets canceled. If you choose 1% and the value of the token increases or decreases by 1%, then the transaction will not take place. Make sure the transaction summary is correct, and then validate it.
Once validation is complete, you’ll have to wait a few seconds before receiving your new tokens. Be sure that the amount you receive is what you requested.
KyberSwap is a decentralized exchange that’s user-friendly and accessible to all experience levels. The platform is ideal for beginners and experienced traders even though its functionalities can seem advanced yet limited at the same time.
On KyberSwap, you can trade futures on margin and invest by staking your tokens.
Experts might be tempted to choose a more advanced platform.
You’ll only need to know a little to be able to use KyberSwap. If you’re just starting out, you probably don’t know Metamask or Trust Wallet. You must therefore familiarize yourself with the ecosystem before doing anything.
Overall, KyberSwap is user-friendly, pleasant and ergonomic. It has a short learning curve and allows you to trade cryptocurrencies in complete security.
Special attention by the site is given to real-time data and price charts, which offer a global overview and, therefore, opportunities to optimize your strategy.
KyberSwap offers customer support through social media channels, including Twitter, Telegram and Discord. Users can contact KyberSwap’s support team to report issues or user requests.
Customer service is quite responsive. Users repeatedly praise the efficiency of the customer support team, being able to respond precisely as needed. The only issue is that you have to be connected to a social-media platform when raising a particular case.
KyberSwap also has a forum where users help each other directly. Add to this a “Help” page, from which you can find three resources: “Getting Started”, “User Guides” and “FAQ.”
KyberSwap is a worthy platform to consider. Being simple and pleasant to use, it has a number of reliable features and more advanced options you might not expect. Being decentralized, it requires some knowledge to be able to connect to it. For example, you must have a Metamask or Trust Wallet. Once that barrier is passed, the field of possibilities is endless.
Regarding one point, however, we regret the absence of traditional customer service. Overall, you must be active on social media to connect to service reps who should make honest efforts.
As for the rest, KyberSwap is secure and allows you to safely swap or trade ERC-20 tokens!
KyberSwap
KyberSwap
