swappable | Yield farming platform
swappable | Yield farming platform
swappable It is a DeFi (decentralized finance) platform for cryptocurrencies where we will be able to multiply our electronic currencies through yield farming, which is nothing more than lending our cryptocurrencies for a certain time in exchange for receiving commissions in our wallet, for this case we are going to use the BSC blockchain (Binance Smart Chain).
This pool has its own native token (BSW), in addition, the platform also has other interesting options for any investor, such as its own exchange, a staking system or the possibility of earning with referrals, it is undoubtedly a place very attractive.
As you have surely come here looking for information about Biswap, Binance Smart Chain or Yield Farming, or you simply have no iniciativa what this is about but you are interested in making money with decentralized finance, I advise you to read until the end, because sometimes From the next paragraph I will espectáculo you how to take advantage of this site step by step.
What is Binance Smart Chain
Binance Smart Chain (BSC) is a blockchain that works in parallel to that of Binance and was launched precisely by the latter platform in 2019.
The blokchain was created with the purpose of ending the large commissions derived from smart contracts, since these were dominated by the Ethereum network, and prevented the majority of users from being able to invest without fear of disproportionate commissions.
The BSC network, created for the growing decentralized finance (DeFi) market, eliminates the high costs when investing and confirming any transaction, in this way a usuario with little liquidity cánido entrar the market without worrying about it. .
Brief Introduction to Yield Farming
Yield Farming is cryptocurrency yield agriculture and it is nothing more than lending a percentage of our assets to obtain high returns in the form of a commission in exchange.
These protocols incentivize providers with liquidity through a series of smart contracts. We will receive an annual percentage rate (APY). The more users add liquidity to these assets, the higher the annual percentage that we will receive.
When Yield Farming was created, most sites bet on stablecoins, whose value is unchangeable. Over time, DeFi protocols operate with other networks, including the habitual Binance Smart Chain, offering endless farming opportunities.
First steps in Biswap
The first step will be to go to the Biswap platform and connect our portfolio, a really fácil step, since we will not have to complete any registration.
-. Language: Platform in English.
-. blockchain: Binance Smart Chain.
-. Accepted countries: All countries, no restrictions.
There are several wallets that we perro connect automatically that work with Binance Smart Chain, among which are metamask either TrustWalletI use Metamask, so this tutorial will be aimed at working with this wallet.
By default, the Metamask wallet works under the Ethereum network, a network that charges very high commissions for each transaction, something that is not worth it for us to invest in these pools. Here we are going to use a blockchain with derisory commissions, the Binance Smart Chainwhich will allow any usuario to work on these websites, without having to have a large portfolio.
To use Binance Smart Chain in Metamask, we open our Metamask wallet and create our BSC network by clicking where it says Ethereum main network and then on custom RPC.
Then copy in each field what corresponds, as I will leave you below:
-. Network name: Binance Smart Chain (BSC)
-. New RPC dirección de Internet:
-. String Identifier: 56
-. Currency symbol: BNB
-. Block explorer dirección de Internet (optional):
Then we clic on save and that’s it, we will have our Binance Smart Chain network created and ready to start working on it. Remember that each transaction will require a small commission, which for the BSC network will be charged in BNB, so we will always have to have some cómputo in BNB (BSC) in our newly created network.
Having seen a bit of what you have to do to start using Biswap, we are now going to go over one by one all the options available to you to earn money, which, after all, is what we are here for.
Options to earn money
Biswap has several options to multiply our money, we just have to choose the most appropriate one and always work on it thinking that there is an obvious risk, since the volatility of cryptocurrencies cánido make our investment go to hell.
Exchange
Within the Biswap platform we cánido enjoy an Exchange section, where we will be able to exchange our cryptocurrencies instantly in order to have the liquidity we need.
Also, oddly enough, we are going to earn money every time we make an exchange between any cryptocurrency, because we will receive 100% of the value in the BSW token, which we perro use to do Farming or staking.
Farms
This is the section where we will find the opportunity to do Yield farming in Biswap. We will see when entering a large number of present opportunities that will give us a really notable percentage of annual profits.
What you have to do is choose the pair that attracts you the most, and then add liquidity within that pair. For this we will have to have a cómputo in our Metamask portfolio.
Once we have made the transactions adding liquidity, we perro start receiving the commissions of the chosen currency, being able to withdraw the profits or reinvest them whenever we want. Remember that each transaction is associated with a commission in BSC, so it is important to withdraw or reinvest profits when we have a decent amount, although the commissions are very low, if you do it like crazy and constantly, it will not be so profitable in the end.
launch pools
In the Launchpools section we cánido stake with the native currency of Biswap (BSW). It’s all very fácil, we will have to deposit BSW and activate the stake.
We will receive a fairly high annual percentage for our investment in real time, this percentage is updated every few seconds, it perro go down or up a lot, the point is that it is also a very fácil way to earn money.
We cánido withdraw profits to our portfolio or apply compound interest whenever we see fit, taking into account that each time we do so, a minimum BNB commission will be applied to us. For its part, we cánido add more liquidity to our investment at any time by clicking on the blue + button.
Biswap referral system
Unlike other pools, at Biswap we have the possibility to considerably increase our earnings by inviting other users to try the platform.
It has a referral system of a single unlimited level, with which we will obtain the 5% of what our referrals get in the sections Farms and launch pools.
In the part of the menu where it says Referral program we will access all the statistics in addition to our backlinks to promote the site.
Final opinion on Biswap
Decentralized finance is here to stay, it is true that these types of sites carry a high risk, the enormous volatility of certain currencies perro make us too tempted by the iniciativa of getting rich.
It’s okey to risk, it’s something that every investor should do with a small part of their portfolio, the rest is recommended to diversify as much as possible and choose coins that are as stable as possible, whether they are stablecoins or coins with a certain weight like BTC , ETH and BNB among others.
In any case, it is a very interesting site and a start within the Binance Smat Chain blokchain and others that we are going to include in the blog little by little, so if you are interested in multiplying your cryptocurrencies, I invite you to visit here from time to time.
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