SpookySwap Review 2023
SpookySwap is a popular decentralized exchange created by a team of anonymous developers in 2021.
It runs on 1 different chains including Fantom.
SpookySwap offers features such as nfts, liquidity mining, bridge, limit orders, staking, yield farming, spot trading and more.
We rated SpookySwap 4.5/5, based on it's features, security, and future prospects.
This DEX sells NFTs that you can buy and collect. They're great for profile pictures, and in some cases could be used for staking. Though this depends on the DEX.
SpookySwap allows you to earn passive income by providing liquidity. You're given LP tokens in return, which are interest bearing. The interest comes from trading fees generated by SpookySwap.
Has a cross-chain bridge. So you can move your crypto between different chains.
Limit orders are trades that execute at a specified price. They're great for executing trades while you're away from your computer. SpookySwap handles the execution for you, and you may incur lower transaction fees than if you market buy/sell.
Has staking for it's native token; allows you to earn passive income.
Hosts incentivised yield farms. You can earn boosted rewards from staked LP tokens. This is a great way to earn more crypto. Projects put up tokens for you to earn, often for marketing efforts.
This means you can buy and sell the real thing. Actual crypto. Not a futures contract or derivative.
All DEXs charge trading fees. SpookySwap is no different.
Trading fees incentivise liquidity providers to provide liquidity to SpookySwap. This enables people like you to freely trade between tokens without incurring too much slippage.
SpookySwap does not charge withdrawal fees.
DEXs, generally, do not require you to deposit funds onto them. Therefore there is nothing to withdraw. This is one of the many great things about dencentralized exchanges. You get to be the sole custodian of your funds.
How to use SpookySwap?
- Get a crypto wallet that supports web3 on one SpookySwap's of supported chains.
- Deposit crypto into the wallet, ensuring you have tokens for gas
- Navigate to SpookySwap's homepage
- Connect your wallet to the website
- Goto Swap/Trade
- Choose a token that you'd like to swap to
- Finally, swap!
Where can I buy BOO ?
You can by BOO direct from SpookySwap. It is the native token of SpookySwap, and they will therefore offer the most liquidity.
Is SpookySwap safe?
Yes, SpookySwap is safe to use. However, you should be aware that crypto trading carries inherent risk. dApps are vulnerable to exploits, so make sure to DYOR before investing.
What chains do SpookySwap support?
SpookySwap supports Fantom.