Is SpiritSwap token a good investment in 2021

SpiritSwap token is a decentralized exchange model on the Fantom network. Meanwhile, in this article, we will discuss if the SpiritSwap token is a good investment to consider in 2021. Spiritswap Token is an exchange token of Spiritswap DEX that offers trading, farming, staking, and more to come.

In addition, SpiritSwap is a decentralized exchange (DEX) on the Fantom Opera Chain. SpiritSwap’s design is based on the Uniswap constant-product automated market maker (AMM).

In an AMM, liquidity providers simply deposit a pair of tokens and an algorithm automatically makes markets for the token pair. Traders can easily swap between tokens in the AMM and get guaranteed rates for the swaps.

Each swap on SpiritSwap incurs a fee, which gets distributed to liquidity providers.

Is SpiritSwap token a good investment in 2021

Unlike some other network where transaction fee is expensive, SpiritSwap token transaction fees are low as it is using the Fantom network that is based on proof of stake and has high transaction throughputs.

More so, the trading fees go to the liquidity providers and stakers of the SPIRIT token. According to CoinMarketCap, the live SpiritSwap price today is $0.292373 USD with a 24-hour trading volume of $11,811,067 USD.

We update our SPIRIT to USD price in real-time. SpiritSwap is up 11.08% in the last 24 hours.

3.    Why Spirit Swap?

SpiritSwap Token

By using Spirit Swap, you can get a lot of benefits:

• Earn a percentage of each trade in a pool when you stake your SPRT LP tokens in one of SpiritSwap’s farms.
• Appreciation of your owned SPRT tokens. As time goes on the SPRT token may appreciate in value, and farming early can lead to big gains when the token performs.
• Lower transaction fees than Ethereum.
• Faster transactions than Ethereum.

Spirit Swap also has excellent features:

• Swap – Users can swap tokens on Fantom via automated liquidity pools of SpiritSwap. Every swap on SpiritSwap incurs a 0.3% fee.
• Liquidity – Spirit Swap offers users a simple way to provide liquidity for tokens on Fantom via automated liquidity pools (LPs). Around 83% of the fee goes to liquidity providers of the given Liquidity Pool.
• Farm – Farming on Spirit Swap is used to incentivize liquidity on the DEX. SpiritSwap will distribute $SPRT tokens to liquidity providers on selected farms.
• Stake – SPRT tokens can be staked to receive protocol-generated revenue from SpiritSwap. 17% of the fee goes to the protocol fee vault, which is used to buy back and deposit SPRT into the Staking Pool

When $Spirit gets to $1, anyone that asks me “Is it too late to buy spirit?” will be blocked ??

— DANNY (@DannyCrypt) September 7, 2021

SpiritSwap  Tokenomics

• Ticker: SPRT
• Blockchain: FTM
• Max Supply: 1,000,000,000 $SPRT
• Distribution: 80% yield farming, 10% airdrop, 10% dev fund
• Symbol: $SPRT
• Initial farming emissions: 40 SPRT/block
• Emissions will decrease over time and are subject to change through governance

How and Where to Buy SPIRITSwap Token?

SPIRIT has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money.

However, you can still easily buy this coin by first buying Bitcoin, ETH, USDT, BNB from any large exchange and then transfer to the exchange that offers to trade this coin. You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)

We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.

Binance is a popular cryptocurrency exchange that was started in China but then moved its headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…

Next step – Transfer your cryptos to an Altcoin Exchange

Since SPIRIT is an altcoin we need to transfer our coins to an exchange that SPIRIT can be traded.

Once finished you will then need to make a BTC/ETH/USDT/BNB deposit to the exchange from Binance depending on the available market pairs.

After the deposit is confirmed you may then purchase SPIRIT from the exchange: https://app.spiritswap.finance/#/farms.

Conclusively, Spirit Swap – The first Incentivized DEX on Fantom. It is more decentralized than BSC and requires low gas fees for swapping. Even more Spirit Swap has its own token which can be earned by providing liquidity pools and farming.

DISCLAIMER:

The Information in the post isn’t financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY.

Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.

If you’re a beginner. I believe the article below will be useful to you ☞ What You Should Know Before Investing in Cryptocurrency – For Beginner