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.

SpookySwap Features

NFTs

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.

Liquidity Mining

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.

Bridge

Has a cross-chain bridge. So you can move your crypto between different chains.

Limit Orders

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.

Staking

Has staking for it's native token; allows you to earn passive income.

Yield Farming

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.

Spot Trading

This means you can buy and sell the real thing. Actual crypto. Not a futures contract or derivative.

SpookySwap Fees

Trading Fees

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.

Withdrawal Fees

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!

FAQ

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.