❓FAQ
Hopefully you can find an answer to your question here.
General
What does BitSwap offer?
BitSwap presents a distinctive and anonymous approach, granting instant access to a diverse selection of liquidity providers. It prioritizes sender confidentiality by concealing wallet addresses during transactions, thanks to its advanced and internally developed infrastructure.
What sets BitSwap apart?
BitSwap stands out by ensuring lightning-fast and efficient transactions, with a strong emphasis on the safety and privacy of users and their assets. We strive for an exceptional user experience, streamlining the process of all transactions across the BitSwap ecosystem, accessible from any location with a web connection. This offers users complete flexibility in managing their assets.
Bridging
Where can I bridge?
Visit our dApp, and if you find yourself having trouble with the bridge, check out 'Your First BitSwap' for an interactive tutorial. This guide will help you learn how to effectively use the bridge and become a master at making use of the BitSwap protocol!
How does token bridging work on BitSwap?
Discover how to utilize our bridging protocol here. It operates through private networks, seamlessly integrating with your chosen transaction. This process ensures rapid conversion times, facilitated by trusted liquidity pool providers.
How long do transactions take?
While transaction durations may differ, we provide an exceptionally anonymous service without compromising on speed. Typically, transactions are completed within 6-8 minutes, though they can take up to 15 minutes, depending on blockchain traffic and potential delays.
What makes my transaction private?
The BitSwap protocol is designed to enable private crypto transactions, where the tracing ability is exclusive to the sender. The transaction it put through several multi-layer privatized networks. Such transactions offer a secure means of crypto transfer, emphasizing the privacy of both sender and recipient, thereby safeguarding them from harm that public financial data could cause.
AMM (Automated Market Maker)
Will the AMM be private?
Yes, the AMM will maintain privacy. By adopting a structure akin to, yet distinct from, our bridging protocol, it will enable trades and order placements while upholding the same level of security and confidentiality characteristic of our bridge protocol.
How quick will the AMM be?
Our AMM aims to match or surpass the speed of conventional AMMs. We plan to collaborate with liquidity providers to facilitate real-time trade execution. The process of ensuring privacy will be handled through our protocol. More options will become available upon the AMM's launch.
Staking
Where can I stake?
To stake visit the dApp, within here you can find options to stake - lock and unlock your tokens, find real-time data about your staking and receive your rewards here!
Tokenomics
What is the native token of BitSwap?
The native token of BitSwap is $BITS. // Expand on this, say how you can buy / where you can find out how to + how to verify contract / token to reduce purchasing fraudulent token.
What is the breakdown of BitSwap fees?
There is a 5% fee for both selling and buying. This is necessary to cover expenses related to development updates, infrastructure costs, partnerships, and marketing. These fees will be discontinued once we become fully self-sustaining and established.
Do you plan on removing fees?
Once BitSwap reaches a certain level of self-sufficiency within its ecosystem, we plan to eliminate fees. This decision aligns with our goal of achieving a sustainable operational model. By reaching this threshold, we can ensure that BitSwap operates efficiently without the need for additional transaction fees.
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