AirSwap Review 2023: A Thorough Guide to the Zero-Fee Decentralized Exchange

Decentralized finance (DeFi) has been gaining significant attention in recent years as an alternative to centralized exchanges. These DeFi platforms, known as decentralized exchanges or DEXs, allow users to trade cryptocurrencies without intermediaries. AirSwap is one such DEX that stands out in the market with its unique features and native token, AST. In this review, we will provide a comprehensive overview of the AirSwap DEX.

Overview
Official Website: https://www.airswap.io/#/
Founding Year: 2017
Headquarters: United States
Trading Volume: $6 Million
Trading Options: Swapping Tokens
Gas fees: No trading fees, but users must stake 250 AirSwap Tokens
Total Listed Coins: 20+
Trading Pairs: 25+
Supported Fiat Currencies: None
Withdraw Options: ERC supported, Bank withdrawal not supported
Withdraw Fees: Depends on cryptocurrencies
Deposit Methods: Fiat currency not supported
Restricted Countries: 10+
Native Token: AirSwap Token (AST)
Mobile App: No Mobile App
Support Channel: https://discord.com/invite/ecQbV7H
Coinpedia Rating: 7/10
Security Rating: 8/10
User Interface: Requires a learning curve
Ease of Setup: Somewhat difficult for beginners
App Store Rating: No official Mobile App
Play Store Rating: No official Mobile App
Security: Secured
Hacking Attempts/Hacks: Never been hacked
KYC Verification Duration: No KYC required as it is a DeFi
Regulation & Compliance: Compliant
Liquidity: Moderately liquid
Proof of Reserve: Not required as it is a DeFi

What is AirSwap?
AirSwap is a decentralized cryptocurrency exchange that enables direct trading of Ethereum tokens between users. Unlike other exchanges, AirSwap offers unique features and does not rely on third-party assistance for storing and managing user funds. This ensures that users have complete control over their assets and can trade anonymously without the need for account registration. The platform also prioritizes security and provides a user-friendly experience, making it popular among high-volume traders. The native token, AST, is used for platform utilities and serves as a revenue source for AirSwap. The platform does not charge any fees for deposits and withdrawals, and users can use AST to participate in proposals and voting.

Features of AirSwap
AirSwap offers several attractive features for traders, including:
Decentralization: AirSwap operates on the Ethereum blockchain, providing high security and transparency.
Transaction Fees: The platform does not charge any transaction fees, benefiting crypto investors.
Peer-to-Peer: Users can trade tokens directly with each other, eliminating the need for intermediaries.
Token Listing: AirSwap has a token listing process that allows for the addition of new tokens, expanding trading options.
Easy to Use: AirSwap has a user-friendly interface, although there is a slight learning curve.

Cryptocurrencies Supported on AirSwap
AirSwap supports various digital currencies built on the Ethereum blockchain, including:
Ethereum
AirSwap token
Augur Coin
Ox Protocol
Aelf
Basic Attention Token
Binance Coin
Bloom token
Dai
DigixDAO.

How to Start Trading on AirSwap
Starting trading on AirSwap is simple:
Visit the AirSwap exchange
Search for the desired token in the checkout widget or ticker section
Enter the number of tokens to be bought
Click “Get quotes”
Review quotes from different peers
Optional: add gas fees for faster transactions
Sign the trade confirmation within the wallet
Wait for the transaction to be settled and credited to your wallet

Exchange Fees and Supporting Payments
The native token of AirSwap is AST, used for platform utilities and revenue generation. AirSwap does not charge fees for deposits or withdrawals. Users can participate in proposals and voting using AST. The exchange does not support fiat currency, so users must purchase Ethereum from other central exchanges to begin swapping on AirSwap.

Customer Support
AirSwap provides customer support through its website and social media channels to assist users with any issues they may encounter while using the exchange.

Conclusion
AirSwap is a decentralized exchange operating on the Ethereum network. Key advantages of AirSwap include its fee-free transactions, user-controlled funds, and enhanced security. The platform generates revenue through its native token, AirSwap-token, and does not charge fees for deposits or withdrawals. While it may not support fiat-crypto trading and has limited liquidity, AirSwap remains a reliable option for decentralized trading.

FAQs
Is AirSwap Safe?
AirSwap is a secure decentralized exchange with global distribution, making it difficult for hackers to access its servers. Users also do not store their funds on the exchange, enhancing security.

How does AirSwap benefit from its native token – AST?
AirSwap uses its native token as an alternative to trading fees, requiring users to stake 250 tokens. This provides a competitive edge and revenue for the exchange. AirSwap does not charge withdrawal or deposit fees.

What cryptocurrencies are supported on AirSwap?
AirSwap supports most ERC tokens and platform-native tokens managed on the Ethereum blockchain.

Can I trade fiat currency on AirSwap?
No, AirSwap does not support fiat-crypto trading.

Security: 4/5
User Experience: 4/5
Fees: 4/5
Customer Support: 4/5
Overall Rating: 4/5

Pros:
– No trading fees
– No censorship
– Full control for users
– No account registration required
– Standalone exchange

Cons:
– Only supports Ethereum-based tokens
– No Fiat Currency supported
– Less liquidity

Tags:
Decentralized exchange