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Saturday, December 2, 2023

Spookyswap Exchange Review: It Is Legit & Secure Exchange

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About Spookyswap Exchange

Spookyswap Exchange is an automated market-making (AMM) decentralized exchange (DEX) for the Fantom Opera network. Different from other DEXs, we’re invested in building a strong foundation with our BOO token as a governance token, diverse farms, a built in bridge for easy on-boarding and user-centered service.

All in one decentralized exchange for leveraging diversified funds across ecosystems, with the speed of Fantom Opera. Contribute to the pool that everyone swaps from and collect swap fees. Spooky utilizes the Fantom network to deliver top speed, security, and scalable transactions.

Your swaps will cost a fraction of a penny! We’re trying to make crypto less cryptic everyday. We value both functionality and usability. The roadmap lays out the planned features for Spooky.

Basic Information

Exchange NameSpookyswap Exchange
Exchange TypeCryptocurrency
Withdraw FeeFree
Deposit FeeFree
Taker Fee0.20%
Maker Fee0.20%
Website Homepage

How To Sign Up & Start Trading

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You Sign Up For A User Account By Providing Basic Information.

On Every Exchange You Will Get Option For Sign Up Or Create Account . Just Fill Some Basic Details Like Name , Email , Password , Security Question Etc For Registration . It Is First Step To Start Trading On Any Exchange

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You Then Receive An E-mail In Your Mailbox To Activate Your Account.

Before You Can Login, You Must Active Your Account With The Code Sent To Your Email Address.Then You Will See A Message That Your Financial Account Is Activated And Ready To Go. This Means That You Can Log In And Start Trading In Cryptocurrency.

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Identity Verification

For Successful Verification You Will Need Identity Documents. For Example, You Can Use A Driver’s License Or Passport, Where The Name Is Duplicated In Latin Letters.Confirmation Of Identity On Exchange Is An Optional Step. The Procedure Must Be Completed Only If You Want To Remove The Restrictions Of Btc On Deposit Or Withdrawal Of Funds Per Day.

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SpookySwap Trading Fees

One of the major complaints people have about centralized exchanges is that they charge high fees for their services, and this is true. But they also offer great ease of use and a centralized authority to turn to if you have problems and need help, so for many users, it’s a fair trade-off. When it comes to decentralized exchanges though, many of them don’t charge any trading fees at all, and this is precisely why DEX supporters trumpet the merits of DEXs over their more centralized brothers, CEXs. The downside of course is, if you have a problem on a DEX, who do you call, Ghostbusters? As you can see, both sides have valid points. 

That being said, SpookySwap isn’t free. They charge a flat fee of 0.20% per transaction regardless of whether you are a maker or a taker which is basically a liquidity provider fee. And these fees are subject to change by community governance, remember that BOO token we spoke about earlier? Yeah, that one. It has its place in the tokenomics of the site and we assume it will grow in scope as the SpookySwap DEX is fleshed out throughout 2021. 

SpookySwap Withdrawal Fees

SpookySwap does not charge any transfer fees or withdrawal fees other than the network fees. The network fees are fees paid to the miners of the relevant crypto/blockchain and not fees paid to the exchange itself. Network fees vary from day to day depending on how much traffic is flowing through the network at a given time. So choose your transaction times wisely and you’ll probably end up paying less in fees. 

Deposit Methods

SpookySwap, like most all DEXs, doesn’t accept any fiat currency deposits, nor can you purchase crypto on their platform. So essentially it’s crypto in crypto out, and no fiat ever hits the floor. So for those looking to use SpookySwap but who don’t have any crypto yet, you need to ask your buddies to send you crypto, or you can use an entry gateway to purchase crypto with your fiat currency then transfer it to the SpookySwap for trading.

Full Feature Tokenomics

They are working towards a platform governed through community voting, with expert trading mode, a fast polished UI, and limit orders.

Fantom Fast

Spooky utilizes the Fantom network to deliver top speed, security, and scalable transactions. Your swaps will cost a fraction of a penny!

Diverse Farms

They support young stars as well as classic pairs. Our 18+ farms list is still growing!

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Crypto investments come with high risk and you should always exercise caution when investing in any crypto asset. Investing in crypto carries a high level of risk, and may not be suitable for all investors. Any investment decisions made by you are made at your own risk and we are not responsible for any losses that may occur. Before investing, we recommend you consult a financial advisor to understand the risks and rewards associated with investing in crypto.

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