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Introducing KyberSwap

KyberSwap is a decentralized cryptocurrency exchange (DEX) that launched on the Ethereum mainnet in 2018. KyberSwap allows users to trade Ethereum (ETH) and more than 70 ERC20 tokens. Token swaps are seamless for all tokens available on the exchange thanks to Kyber Network’s on-chain liquidity protocol. KyberSwap is best for intermediate, advanced and altcoin focused traders.

Kyberswap homepage
Kyber for traders

Pros and Cons #

 Pros #

  • KyberSwap has partnered with Coindirect to allow users to purchase ETH with fiat. While KyberSwap’s fees are quite high at 3.5%, it is currently the only decentralized exchange that allows fiat deposits.
  • KyberSwap accesses liquidity from a wide range of reserves using Kyber Network’s on-chain liquidity protocol. On other DEXs, traders have to worry about market makers and takers for listed tokens – a very common issue.
  • WBTC (Wrapped BTC) – Kyber is a founding merchant, liquidity provider, and DAO member of WBTC. The Bitcoin ERC20 token represents the value of Bitcoin on the Ethereum blockchain. Among other centralized and decentralized exchanges, WBTC is listed on KyberSwap.
  • Wallet Integrations: – Kyber supports MyEtherWallet, imToken, Coinbase, and Enjin, as well as other popular crypto wallet providers. Kyber enables users to trade tokens without leaving their wallet applications.
  • Kyber offers a solution for non-custodial limit orders, which are not available on most DEXs. As a result, traders can place limit orders without locking funds on the exchange. Funds remain in wallets until trades are executed and deposits or withdrawals are not required. Limit orders cost as little as 0.1%, and KNC holders can trade without paying for gas.
  • KyberSwap’s mobile app is available on both iOS and Android platforms. Tokens can be swapped, limit orders created, tokens transferred, price alerts set, and a watchlist created for favorite tokens.
  • Trading of more than 70 ERC20 tokens is supported. Kyber’s native KNC token is not the only token available. There are also BAT, DAI, MKR, LINK, ZRX, and USDT.
Kyberswap features

 Cons #

  • Assets built on the Ethereum blockchain – At the moment, Kyber does not support crypto assets that aren’t built on the Ethereum blockchain. This is common practice among decentralized exchanges.
  • Fees for market orders are dependent upon gas fees – The price for market orders is highly dependent upon the amount of congestion on the Ethereum network. The fee for gas increases when a large number of users are sending transactions at the same time. Gas fee inconsistency will likely remain a problem for KyberSwap until Ethereum’s scalability issues are resolved.
Kyberswap seamless liquidity

Conclusión #

KyberSwap has processed over 490,000 transactions as of November 2019. DEXs based on Ethereum account for roughly 4% of the total transactions. The only exchanges with more total transactions are IDEX, Ether Delta, and DDEX.

KyberSwap distinguishes itself from other decentralized exchanges by developing a simple, yet powerful user experience that reduces the friction of decentralized trading. Kyber has partnered with many of the top wallets on the market to make decentralized crypto-to-crypto trades easier, faster, and cheaper.

KyberSwap would be recommended to users seeking a private and seamless decentralized trading experience.



KNC Price Prediction | Is Kyber Network a Good Investment? (2021, December 21). Currency.Com. https://currency.com/kyber-network-knc-price-prediction

Tramble, G. (2021, December 14). What is Kyber Swap? (in 60 seconds) – Crypto in 60 Seconds. Medium. https://medium.com/crypto-in-60-seconds/what-is-kyber-swap-in-60-seconds-1e6dc38bebb6

Actualizado el enero 21, 2022
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