Cryptocurrency has become a major investment for both seasoned traders and the average person alike. But unlike other investment vehicles, crypto is constantly being shaped by continued innovation in the crypto space, leading to new and exciting opportunities that allow you to maximize your token investment activity. For example, while some may rely on centralized exchanges to hold and trade their digital assets, others may turn to new, decentralized exchanges like SokuSwap. But what exactly is this new exchange, and could it be right for you? Let’s take a closer look at how SokuSwap DEX can help you easily tap into the potential of your cryptocurrency portfolio.
What exactly is SokuSwap, and how does it differ from other exchanges?
When new users first become involved in crypto, they traditionally turn to a centralized exchange to get started. The problem? Centralized exchanges can be difficult to navigate (due to KYC and AML laws), take time to transfer and receive funds, and maintain full control over your funds. For those who became interested in crypto due to the decentralized nature of the blockchain, this last point can be a major drawback. When you want to invest in crypto, you want a seamless experience that gives you full control over your virtual currencies.
Rather than having to undergo the process of getting established with a centralized exchange, you can use a decentralized exchange like SokuSwap instead. SokuSwap resides on both the Ethereum network and the Binance Smart Chain to offer a multichain decentralized exchange that makes it simple for users to buy, swap, and stake their crypto tokens without any of the hassles that come with centralized exchanges. More importantly, this exchange offers a range of new features, including automated market maker (AMM) smart contracts, individual staking as well as mining pools and farms, and fiat currency onboarding so that you can buy cryptocurrencies directly on their platform. Whether you’re completely new to cryptocurrency or experienced with crypto and decentralized cryptocurrency exchanges, they offer comprehensive support and a live chat feature to offer the best possible experience.
If you value the feeling of being in control whether you’re purchasing, swapping, or staking Ethereum or Soku tokens, you’re going to love what SokuSwap has to offer.
I understand buying and swapping tokens, but what is staking?
The concept of buying and swapping tokens is something that’s relatively easy to grasp, even for those who are entirely new to crypto. However, terms like “staking” can be a little bit more difficult to understand.
Every blockchain requires participation in order to keep the blockchain operable and ensure that new coins are being created. Whereas some blockchains use proof-of-work protocols to operate the blockchain (such as Bitcoin mining), others use a protocol called proof-of-stake. Those who wish to stake their tokens can lock their funds up for a predetermined amount of time. Why? By doing so, you’re rewarded by receiving interest on the amount of crypto you stake. This incentivizes users to participate. The blockchain benefits by using these staked tokens as a means to create new blocks. Additionally, staking can help to improve to boost the value of coins given that a certain number of them are not in circulation.
If you’re looking to earn interest on your tokens, this is another great incentive to join SokuSwap. When you first get into crypto, you don’t want to join just any exchange. You want one that’s designed to make the process of acquiring and swapping tokens easy as well as one that’s focused on your portfolio growth. If you’re ready to begin your cryptocurrency journey, you can get started with SokuSwap quickly and easily!
