How it works?

BSCSWAP is a decentralized exchange (DEX) built on top of the Binance Smart Chain (BSC). It works similarly to other decentralized exchanges, but with some key differences.

When users want to trade cryptocurrencies on BSCSWAP, they first need to connect their digital wallet to the exchange. This can be done through a variety of wallets that support the Binance Smart Chain, such as MetaMask, Trust Wallet, or Binance Chain Wallet.

Once the wallet is connected, users can start trading by selecting the cryptocurrencies they want to exchange and the amount they want to trade. BSCSWAP uses an automated market-making (AMM) system, which means that trades are executed through a pool of liquidity rather than directly with other traders. The liquidity pool is provided by users who deposit their cryptocurrencies into the pool in exchange for liquidity provider (LP) tokens, which represent their share of the pool.

When a user places a trade, the AMM algorithm automatically calculates the exchange rate based on the current balance of each cryptocurrency in the liquidity pool. This means that the exchange rate can fluctuate depending on the volume and direction of trades in the pool.

One of the key advantages of using BSCSWAP is the low fees. Since it is built on the Binance Smart Chain, transactions are faster and cheaper compared to other decentralized exchanges built on Ethereum. Additionally, BSCSWAP has a native token called BSCSWAP, which users can stake to earn rewards or use to reduce transaction fees.

Overall, BSCSWAP offers a fast, cheap, and decentralized way to trade cryptocurrencies on the Binance Smart Chain, with the added benefit of earning rewards through staking