Switcheo is a Decentralized Exchange (DEX) that call itself “The Preferred Exchange.” Built atop Tendermint Core, it combines support for all Ethereum tokens (ERC-20), NEO (NEP-5) and EOS tokens.
The project’s mantra is “Finance without limits, for lives without limits.” Their goal is to deliver a platform that breaks new ground with nothing cryptic about Cryptocurrency, making your investment valuable.
The DEX has exceptional features of an Atomic Swap coupled with over the counter transactions with the ability to run cross-chain trades in a peer-to-peer (p2p) basis. Those who are looking for financial privacy that is being ruined by Centralized Exchanges (CEX) now have the possibility with the platform’s no KYC (Know-Your-Customer) policy.
Therefore, providing instant onboarding comprising of a liquid order book, fast Settlement and real-time execution that comes with Automated Market Makers and insignificant fees. At the time of writing this review, over 40,000 traders were using it.
Switcheo is, in fact, a decentralized wallet exchange where users are in charge of their funds, hence the platform has no control over owners private keys. Furthermore, every single transaction goes through Smart Contracts.
It also means that you can trade by connecting your web.3 wallet without handing over your money to anyone, or sign up with an email so that can create a non-custodial wallet. Moreover, you can log in from a hardware wallet like Ledger and Trezor directly.
Since it has no central wallet to store funds, the susceptibility to a security breach is non existing in such an environment. Such functionality gives Switcheo the best-secured ecosystem to buy and sell digital assets.
There are some criteria to get a token listed on the Switcheo exchange. According to the project’s website, the asset must meet at least one requirement.
- High utility: Under this condition, a token must have higher than $50m market capital and a strong market due to high utilization. It must also have huge global liquidity, which permits outside market makers who are willing to engage with moderate vulnerability risk.
- Initial Listing: A token also qualifies to list on Switcheo if it runs an initial listing on the Exchange; Has raised above $1m; Up to 10% raised should be committed for providing liquidity until their token is applicable.
- Furthermore, it should not have previously listed on a principal exchange and must have a robust ultimate utility.
- Provision of Liquidity: The project owners should be ready to provide liquidity via the market-making partners of Switcheo while possessing more than $3m market cap with a demonstration of utility.
- Stablecoin: If it is a Stablecoin, then it is required to have algorithmic or supported by a Trust firm.
All information collected from traders goes into storage run by commercial cloud storage providers. Accordingly, your data may be assigned to and filed in different countries.
When it comes to password generated on the exchange, it is the responsibility of everyone to keep it classified. Consequently, passwords are not supposed to be shared with anyone.
More importantly, the platform assures all user that they will do everything possible to guard your personal data but not through the transmission. However, once they receive any information, they will exercise all commercially feasible applications to forestall unapproved access.
Join Switcheo Community
The Switcheo community is on some platforms that allow you to join its communities. That is an opportunity to learn more about the project and the technology behind it.
You can join them here: