How to buy Polkaswap (PSWAP) in the UK

Where to buy Polkaswap in the UK

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

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

How to purchase PSWAP using a decentralised exchange.

1. Find PSWAP on a decentralised 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 CoinJar. 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 finalise 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 UK.

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.

Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.

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.

Today's Polkaswap price versus ATH

Compare today's price of Polkaswap ($0.0009106 USD) against its all-time-high price of $0.880116 USD on 16 May 2021. The closer the bar is to 100%, the closer PSWAP is to reaching its ATH again.

How to trade, convert or sell Polkaswap

You can convert or sell your PSWAP with the same exchange you bought it through:

1. Sign in to the exchange you have PSWAP on.
2. If you store your Polkaswap in a digital wallet, compare crypto exchanges to convert or sell it on.
3. Choose Sell or Convert and place a sell order.
4. Choose the amount of PSWAP you'd like to convert or sell.
5. Confirm the sell price and fees and close your sale of Polkaswap.
6. Complete your transaction and move your PSWAP to a wallet for storage.

* Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.

Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.