Biswap, operating on the BNB Smart Chain, is a decentralized exchange (DEX) platform that allows users to swap tokens quickly and affordably. With a 0.2% transaction fee, a referral program, farming, and an NFT marketplace, Biswap stands out by not holding user funds and distributing rewards through its BSW coin. Users can take advantage of all Biswap features by connecting their MetaMask wallets to the BNB Smart Chain. In this article, you will find answers to two frequently asked questions: What is Biswap (BSW), and how to buy Biswap (BSW) with TRY.
What is Biswap (BSW)?
Biswap is a decentralized exchange (DEX) operating on the BNB Smart Chain, providing users with a platform to swap tokens quickly and affordably. It features a new referral system, low transaction fees, and various products and services, including trading, farming, launch pools, an NFT marketplace, trading competitions, and an NFT game.
Biswap uses an automated market maker (AMM) model to facilitate the exchange of BEP-20 tokens on the BNB Smart Chain. This decentralized exchange benefits from high transaction speeds and low costs, charging a minimal transaction fee of 0.2%. Unlike centralized exchanges, Biswap does not hold user funds, making it a secure option for cryptocurrency investors. Users can earn rewards through a referral program, provide liquidity for passive income, stake tokens in farming and launch pools, and participate in NFT trading and staking.
Biswap’s main network asset, BSW, has a maximum supply of 700 million with an emission rate of 16 BSW per block. BSW is an integral part of the Biswap ecosystem, facilitating platform activities and serving as a reward for network participation. It supports various functions, including transaction fee reimbursements, farming, and staking rewards.
Biswap offers several unique features that set it apart from other DEXs. Three types of referral programs allow users to earn BSW coins by inviting others to the platform. Biswap’s comprehensive product suite includes a DEX with low transaction fees, farming and staking options, a lottery, launchpad pools, an NFT marketplace, an NFT launchpad, and an NFT staking pool. Additionally, the platform has been audited by CertiK, ensuring high levels of security and reliability.
The Biswap exchange allows users to swap BNB Chain tokens with a low fee of 0.2%. Users trade in liquidity pools provided by liquidity providers who receive LP tokens as incentives. These tokens can earn a portion of the trading fees or be staked in Biswap’s farming. Biswap also reimburses transaction fees in BSW, encouraging swaps and increasing the platform’s appeal.
Biswap’s NFT Marketplace offers a platform for digital art collectors and NFT enthusiasts to trade NFTs with low commission fees. Exclusive NFT auctions and the unique Biswap NFT Collection provide additional opportunities for users. The NFT Launchpad allows users to purchase and stake Robbies NFTs in the NFT Staking Pool and earn rewards based on their Robi Boosts.
To fully utilize Biswap’s features, users need to connect their MetaMask wallets to the BNB Smart Chain. Once connected, users can add liquidity, participate in farming, and stake tokens within the Biswap ecosystem. Detailed guides are available to help users connect their wallets, add liquidity, and participate in staking and farming activities on the platform.
How to Buy Biswap (BSW) with TRY?
Binance TR is the most suitable cryptocurrency exchange for investors in Turkey looking to buy Biswap (BSW). Binance TR allows users to buy and sell over 100 cryptocurrencies, including BSW, quickly after creating an account. Follow these steps to buy Biswap (BSW) with TRY on Binance TR.
How to Open an Account on Binance TR?
Opening an account on Binance TR is quite easy. Go to trbinance.com and proceed from the “Create Account” step. In the first step of creating an account, you will be asked to enter basic information such as email address, phone number, name-surname, date of birth, nationality, and T.C. identity number.
After entering the requested information completely and accurately, email/sms verification will be done to confirm the information. After completing this process, you will proceed to the second step, identity verification (KYC).
How to Verify an Account on Binance TR?
Identity verification on Binance TR is one of the security procedures that must be completed before starting cryptocurrency trading and during account creation. This process is necessary to protect both the user and the cryptocurrency exchange. You can perform the verification process from your phone or the official Binance TR website. Note that you will need your mobile phone to perform identity verification from the website.
On the Binance TR website, hover over the “Profile” option at the top right, click on “Identity Verification and Limits” from the drop-down menu, and then click “Verify.” You will then need to scan the QR code that appears with your phone’s camera and continue the process on your phone. If you cannot scan the QR code, click “Copy URL” to send the identity verification address to your phone via SMS.
When you enter the address on your phone or scan the QR code, a screen like the one below will open on your phone. First, tap on the “Identity” option to continue.
Then a screen like the one below will appear. To continue with the verification process, first select the document type that suits you.
After selecting the document type, tap on “Upload Front Side” to continue. After taking a photo of the front side of the document according to the selected document type, tap on “Upload Back Side” and take a photo of the back side of the document. Ensure that the images are clear and that the information in the photo can be easily read when taking photos of the front and back sides of your ID card or driver’s license.
Then tap on the “Selfie” option to continue. At this point, your phone’s front camera will open, and you will need to scan your face. Make sure your face fills the camera area as much as possible once the camera opens.
After completing all these steps accurately and completely, your identity verification process will be completed shortly.
How to Deposit TL on Binance TR?
You can easily deposit TL into your Binance TR account from all banks. You can deposit TL 24/7 and trade seamlessly from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts. Deposits from other banks can be made 24/7 with FAST up to 50,000 TL. Deposits over 50,000 TL from other banks are processed during EFT hours.
To deposit money into your Binance TR account, first, go to trbinance.com, hover over the “Wallet” option at the top left of the main page, and click on “Deposit” from the drop-down menu.
Then a page like the one below will open, and you can continue the deposit process by selecting your preferred bank. If your preferred bank is not yet integrated with Binance TR, you should continue by clicking on the “Other Banks” option.
In this example, we will continue using Vakıfbank, but the process is the same for all other banks. When you click on the Vakıfbank option, you will see an account name and IBAN address where you can make a transfer, EFT, or FAST. All you need to do is use the information displayed on the bank’s page to send the amount you want to deposit into your Binance TR account via transfer, EFT, or FAST.
After your bank completes the transfer process, the funds you sent will automatically be reflected in your Binance TR account wallet.
How to Buy BSW Coin with TL on Binance TR?
After the deposit process, you can proceed to the TL to BSW coin purchase step by clicking on the “Buy-Sell” option in the top left menu of the Binance TR website.
After clicking on this option, the following page will open. On this page, type “BSW” in the search box on the right side and click on the BSW/TRY option from the results to go to the TL to BSW purchase page.
Now the following BSW trading page will open. On this page, in the red-marked area, you need to enter the price at which you want to buy BSW in the first box and the number of BSW you want to buy in the second box. After entering the amount, click on the “Buy BSW” button to complete your purchase.
What is Binance TR?
As the world’s largest cryptocurrency exchange by trading volume, Binance officially launched its platform Binance TR for cryptocurrency investors in Turkey in 2020. The cryptocurrency exchange, headquartered in Istanbul, can be accessed at trbinance.com.
Binance TR leverages Binance’s technology, security measures, and liquidity provided through Binance Cloud to offer both fiat-to-crypto and crypto-to-crypto trading services. Users in Turkey can seamlessly deposit and withdraw Turkish lira (TRY) through direct bank channels and trade various cryptocurrencies with TRY pairs via Binance TR.
Users supported by Binance TR have access to market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls, all backed by Binance’s core functionalities.
