In 2023, cryptocurrencies are no longer things from fiction stories — these are payment means we can use on a daily basis. Whether you want to make a quick and low-commission cross-border transaction or just pay for products and services online, cryptocurrencies will be handy. That’s why it would be nice for you to explore something more about solutions that help operate digital money more efficiently.
Decentralized cryptocurrency exchanges are the most popular options among cryptocurrency enthusiasts. Using the capacity of blockchain networks, they enable fast transactions within the decentralized ecosystem. Let’s learn more about one such solution — Swapuz exchange.
Swapuz is an advanced exchange launched back in 2019. By providing condition clearness and safety, the startup aims to attract the widest number of users to engage them in the fast-growing universe of decentralized finances. By which means is the company going to fulfill its goals? Here are some findings we managed to make.
The Goals and Capabilities
According to the official statement, the main objective of the project foundation is to guarantee a well-protected, transparent, limitless, and customer-oriented ecosystem for cryptocurrency swaps. To make sure that these targets are met, the exchange enables operations within the most powerful blockchains — Bitcoin, Ethereum, and XMR. As for the date of writing, the number of available coins exceeds 1,500, which provides enthusiasts with great possibilities.
Technological Framework
The sector of cryptocurrencies is now considered the fastest-growing industry in the world. This is because of the implementation of cutting-edge technologies and the introduction of new ones by newly emerging crypto projects. Obviously, Swapuz has to keep up with this trend to retain its 11,000 clients.
To fully realized why the operating model represented by Swapuz is unique, we need to tell more about the issue it addresses. So, the disadvantage of many cryptocurrency solutions is that they offer a single framework (centralized or decentralized), which forces users to conduct operations with tokens manually. Swapuz, on the other hand, offers a seamless transition – from CEX to DEX and vice versa. This approach also allows individuals to operate more tokens to swap because the listing here goes beyond the listings of major centralized exchanges.
This model is called a multi-channel. Basically, this is an all-in-one solution that allows participants to avoid using any intermediary programs to deal with a seamless transition.
One more benefit of the automated framework is that the probability of errors becomes much lower than with other solutions. The process excludes manual transactions, ensuring the efficiency of the automated system.
Last but not least, this opens a big room for investment diversification. The idea is quite prosaic — the more sources you can access, the easier it will be to compile a well-diversified investment portfolio.
Security Principles
Over the recent years, we’ve seen enough scandals related to the security of cryptocurrency projects. Swapuz claims to have considered all the pitfalls and eliminated all the security unclearness by combining unique DeFi and custodial features for better protection. How does it protect your funds and data?
Foremost, Swapuz aims to eliminate your concerns regarding personal information protection. Unlike alternative exchanges, the solution doesn’t impose the Know-Your-Client procedure. This is the basic verification process required by the vast majority of crypto platforms. Its purpose is to verify the ID of clients to make sure these are real people.
While this method is efficient, it fully eliminates the key purpose of blockchain creation — safe and anonymous online transactions. Providing exposure of your personal information to any exchange means that if the smallest crack in the security system happens, your data might leak and then be violated. That’s why the team behind the Swapuz exchange decided to omit this step and provide their users with 100% anonymity.
You shouldn’t be concerned about the safety of your funds as well. Swapuz enables non-custodial storage, meaning assets aren’t stored anywhere but are just swapped between BTC/ETH/XMR ecosystems.
So, what we do have at the end is the following summary: Swapuz is a fully anonymous solution with non-custodial storage of assets and access to more than 1,500 cryptocurrencies from both centralized and decentralized ecosystems. Although this review is rather a personal recommendation than an expert analysis, it shows pretty well that Swapuz is a promising solution with a great focus on customer needs.
