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How to buy Polkaswap (PSWAP)

Learn how to buy Polkaswap (PSWAP) in our step-by-step guide.

Where to buy Polkaswap

It looks like PSWAP may not be available to purchase on an exchange in the US.

You can still purchase PSWAP by using a decentralized exchange (DEX) instead. Decentralized exchanges are web applications that run on blockchains like Ethereum and allow users to trade any asset directly with one another.

Decentralized exchanges (DEX) are unregulated and run using autonomous pieces of code known as smart contracts. To use a DEX you must interact with the blockchain directly, which is not recommended for novice users. Please learn about decentralized exchanges first if you're unfamiliar.

How to purchase PSWAP using a decentralized exchange.
  1. Find PSWAP on a decentralized exchange and make sure Polkaswap can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
  2. Buy ETH to trade for PSWAP using an exchange like Gemini. You will need to purchase enough ETH to swap for PSWAP as well as ETH to pay for transaction fees on the Ethereum network (known as gas). You can use a service like Etherscan to get an idea of how much gas fees currently cost.
  3. Transfer the ETH into a web 3.0 wallet like MetaMask to connect to the DEX.
  4. Trade ETH for PSWAP on the DEX of your choice, following the instructions on screen. Make sure to leave enough ETH in your wallet to pay for gas.
  5. Wait for the transaction to finalize and the PSWAP tokens will arrive in your wallet.
  6. You may now keep the tokens in your web 3.0 wallet or transfer them somewhere more secure like a hardware wallet.

You can follow the same process when you want to sell your tokens, or come back to this page to see if they can now be traded on an exchange in the US.

Best Polkaswap wallets to store your PSWAP

You can keep your PSWAP on the exchange you purchased it on, or move it to a personal wallet:

  • Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
  • Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your PSWAP below.
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Ledger Nano X Wallet
★★★★★ 4.6

Price (USD)
$149
Supported assets
5,500+
Go to site

Trezor Model T Wallet
★★★★★ 4

Price (USD)
$219
Supported assets
1,456+
Go to site

SafePal S1 Wallet
★★★★★

Price (USD)
$49.99
Supported assets
30,000+
Go to site

Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.

Is Polkaswap a good investment?

Cryptocurrencies are highly speculative assets that come with a range of risks. It is, therefore, crucial to fully evaluate both a token and its associated protocol or application. Before investing in PSWAP here are a few factors to consider:

  • Built for Polkadot and Kusama:Polkaswap is aiming at bridging all blockchains within the Polkadot and Kusama ecosystems. Polkadot is a popular layer-0 network for the deployment of other blockchains. As a result, it is becoming a key component in the Web3 space. However, the success of both Polkadot and Kusama will need to continue for the future success of Polkaswap. Any issues with either Polkdot or Kusama could deter users from utilising Polkswap.
  • Competitive market: There has been a significant increase in the number of protocols that aim to bridge different blockchain networks. The industry is also abundant with protocols that offer cross-chain swaps through automated market makers. The saturation of the market may hinder Polkaswap’s reach. With that being said, its initial focus on the Polkadot and Kusama ecosystems could allow this project to fulfil a unique solution within a growing cryptocurrency environment.
  • Recipient of Web3 foundation grant: The Web3 foundation is one of the most reputable platforms in the industry for kickstarting projects that showcase real world solutions. Polkaswap received a grant from the organisation, which is a strong example that the project has garnered respect from others within the cryptocurrency industry. Although not a guarantee, other Web3 foundation projects have done extremely well, and are among the most popular protocols in the space.
  • Burning mechanism: 0.3% from every swap completed via the Polkaswap DEX is used to buyback PSWAP tokens which are subsequently burned. 90% of the burned token supply are then distributed to liquidity providers of the platform. This figure is set to drop to 35% after the first 5 years.
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Today's Polkaswap price versus ATH

Compare today's price of Polkaswap ($0.00300025 USD) against its all-time high (ATH) price of $0.880116 on May 16, 2021. The closer the bar is to 100%, the closer PSWAP is to reaching its ATH again.

Current price: $0.00300025
All time high: $0.880116
1%
99%

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  1. Data by CoinGecko

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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