How and Where to Buy Polkaswap (PSWAP) – Detailed Guide
- What is PSWAP?
- Step 1: Register on Fiat-to-Crypto Exchange
- Step 2: Buy BTC with fiat money
- Step 3: Transfer BTC to an Altcoin Exchange
- Step 4: Deposit BTC to exchange
- Step 5: Trade PSWAP
- Last Step: Store PSWAP securely in hardware wallets
- Other useful tools for trading PSWAP
- Frequently Asked Questions
- Latest News for PSWAP
- PSWAP Price Prediction and Price Movement
What is PSWAP?
To learn more about this project, check out our deep dive of Polkaswap.
What Is Polkaswap (PSWAP)?
Polkaswap is an open-source, non-custodial decentralized exchange (DEX) protocol. The automated market maker (AMM) project was founded in July 2020 and had its soft launch in April 2021 with a focus on interoperability.
Polkaswap runs on the SORA network which is built with Substrate and is therefore natively compatible with the Polkadot and Kusama ecosystem thus giving Polkaswap best scalability and security.
Who Are the Founders of Polkaswap?
In June 2020 the Polkaswap project was initiated by SORAMITSU with a grant from the Web3 Foundation.
Currently, Polkaswap is a fully decentralized project. In fact, by submitting Request for Proposals (RFP), users can tender the development and implementations of functions they would like to have in Polkaswap and the SORA network.
There is another aspect however, teams of developers that have the expertise to implement these changes themselves can also propose them, and if approved, their code could be incorporated to a runtime upgrade and they would also get rewarded for the work provided.
You can learn how to submit an RFP here.
What Makes Polkaswap Unique?
Polkaswap is a DeFi project built on the Polkadot ecosystem, designed exclusively to support faster trading without the need for any intermediary. As a DEX, Polkaswap offers some outstanding features that make it difficult to pass by.
While the majority of DEXs are built on top of the Ethereum blockchain, Polkaswap goes the Polkadot way. Polkaswap establishes interoperability between multiple blockchain bridges and can allow users access to ETH and ERC-20 tokens, DOT and KSM, BTC, BSC, and any other token the project integrates in the future.
Another benefit Polkaswap enjoys by being built on the Substate network is cheaper gas fees compared to that of other networks
A unique feature of Polkaswap and the SORA network is the implementation of a Token Bonding Curve, a smart contract that manages XOR supply. It helps Polkaswap by providing deep liquidity for large trades, by reducing the effects of pump-and-dump manipulation attacks and having many more positive effects on the whole ecosystem. You can read all the details and the implications here.
In addition to these unique offerings, users can also earn from their assets on Polkaswap by supplying liquidity to its pools. These features have made some refer to Polkaswap as the Uniswap of the Polkadot ecosystem
Related Pages:
Read more about Polkaswap in our deep dive.
Find out more about decentralized exchanges.
Learn more about Uniswap (UNI) and SushiSwap (SUSHI).
What is web 3.0? Click here and find out.
Take a deep dive into smart contracts and DeFi space with CMC Alexandria.
Visit CoinMarketCap Alexandria to learn everything you need to know about cryptocurrency and more.
How Many Polkaswap (PSWAP) Coins Are There in Circulation?
PSWAP is the native token for Polkaswap. The tokens are minted based on a deflationary model on the SORA network; which burns more tokens than it mints. Polkaswap uses a 0.3% fee on every swap to buy back PSWAP which are then burned.
Since its launch, 90% of burned PSWAP tokens have been re-minted and allocated to the liquidity providers. However, by 2025, only 35% will be allocated back to liquidity providers.
Currently (October, 2021), around 36% of the total supply of 10 billion max supply of PSWAP tokens is in circulation. That stands at 3.65 billion PSWAP tokens.
Since more PSWAP tokens are always burned than minted, PSWAP tokens are deflationary by nature. The circulating supply of PSWAP will never be higher than 3.65 billion.
The distribution of PSWAP tokens is as follows: 35% as liquidity rewards (vested); 30% at initial release development; 25% for token bonding curve rewards (vested); 6% rewards at launch (SORA farm game); 4% for market-making rewards (vested).
How Is the Polkaswap Network Secured?
Polkaswap takes full advantage of the SORA network's security. Polkaswap is built on Parity Substrate and provides a multithreaded and scalable architecture for the network.
You can learn more here.
Where Can You Buy Polkaswap (PSWAP)?
At the moment, Polkaswap (PSWAP) cannot be directly purchased with cash. PSWAP can be bought by using swapping cryptocurrencies on exchanges. With your existing crypto, you can purchase PSWAP on Polkaswap, Uniswap (V3), Uniswap (V2), 0x Protocol, 1inch Exchange and Bilaxy.
Learn more about Polkaswap in our deep dive here.
Cryptocurrency newbie? You can read more about how to enter the market and how to buy BTC, PSWAP or any other token. Check out the details here.
Telegram group: https://t.me/polkaswap
Github: https://github.com/sora-xor/polkaswap-web
PSWAP was first tradable on 28th Aug, 2020. It has a total supply of 1,392,620.39,002,432. As of right now PSWAP has a market capitalization of USD $1,339.75. The current price of PSWAP is $0.000962 and is ranked 3775 on Coinmarketcap and has recently surged 27.48 percent at the time of writing.
PSWAP 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 from any fiat-to-crypto exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy PSWAP.
Step 1: Register on Fiat-to-Crypto Exchange
You will have to first buy one of the major cryptocurrencies, in this case, Bitcoin (BTC). In this article we will walk you through in details two of the most commonly-used fiat-to-crypto exchanges, Uphold.com and Coinbase. Both exchanges have their own fee policies and other features that we will go through in detail. It is recommended that you try both of them and figure out the one that suits you best.
Select Fiat-to-Crypto Exchange for details:
- UpHold
Being one of the most popular and convenient fiat-to-crypto exchanges, UpHold has the following advantages:
- Easy to buy and trade among multiple assets, more than 50 and still adding
- Currently more than 7M users worldwide
- You can apply for UpHold Debit card where you can spend the crypto assets on your account like a normal debit card! (US only but will be in the UK later)
- Easy to use mobile app where you can withdraw fund to a bank or any other altcoin exchanges easily
- No hidden fees and any other account fees
- There are limited buy/sell orders for more advanced users
- You can easily set up recurring deposits for Dollar Cost Averaging (DCA) if you intend to hold cryptos long term
- USDT, which is one of the most popular USD-backed stablecoins (basically a crypto that is backed by real fiat money so they are less volatile and can be treated almost as the fiat money it's pegged with) is available, this is more convenient if the altcoin you intend to buy has only USDT trading pairs on the altcoin exchange so you don't have to go through another currency conversion while you buy the altcoin.
Type your email and click 'Next'. Make sure you provide your real name as UpHold will need it for account and identity verification. Choose a strong password so that your account isn't vulnerable to hackers.
You will receive a confirmation email. Open it and click on the link within. You will then be required to provide a valid mobile number to set up two-factor authentication (2FA), it is an extra layer to the security of your account and it is highly recommended that you keep this feature turned on.
Follow the next step to finish your identity verification. These steps are a bit daunting especially when you are waiting to buy an asset but just like any other financial institutions, UpHold is regulated in most countries such as the US, the UK and the EU. You can take this as a trade-off to using a trusted platform to make your first crypto purchase. Good news is that the whole so-called Know-Your-Customers (KYC) process is now fully automated and it shouldn't take more than 15 minutes to finish.
Step 2: Buy BTC with fiat money
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. You may be charged higher fees depending on your credit card company and the volatile prices when using cards but you will also make an instant purchase. While a bank transfer will be cheaper but slower, depending on the country of your residence, some countries will offer instant cash deposit with low fees.
Now you are all set, on the 'Transact' screen under the 'From' field, select your fiat currency, and then on the 'To' field choose Bitcoin, click preview to review your transaction and the click confirm if everything looks good... and congrats! You've just made your first crypto purchase.
Step 3: Transfer BTC to an Altcoin Exchange
But we are not done yet, since PSWAP is an altcoin we need to transfer our BTC to an exchange that PSWAP can be traded. Below is a list of exchanges that offers to trade PSWAP in various market pairs, head to their websites and register for an account.
Once finished you will then need to deposit BTC to the exchange from UpHold. After the deposit is confirmed you may then purchase PSWAP from the exchange view.
Last Step: Store PSWAP securely in hardware wallets
Ledger Nano S
- Easy to set up and friendly interface
- Can be used on desktops and laptops
- Lightweight and Portable
- Support most blockchains and wide range of (ERC-20/BEP-20) tokens
- Multiple languages available
- Built by a well-established company found in 2014 with great chip security
- Affordable price
Ledger Nano X
- More powerful secure element chip (ST33) than Ledger Nano S
- Can be used on desktop or laptop, or even smartphone and tablet through Bluetooth integration
- Lightweight and Portable with built-in rechargeable battery
- Larger screen
- More storage space than Ledger Nano S
- Support most blockchains and wide range of (ERC-20/BEP-20) tokens
- Multiple languages available
- Built by a well-established company found in 2014 with great chip security
- Affordable price
If you are planning to keep("hodl" as some may say, basically misspelt "hold" which get popularised over time) your PSWAP for a considerable long time, you may want to explore ways of keeping it safe, although Binance is one of the safest cryptocurrency exchange there had been hacking incidents and funds were lost. Because of the very nature of the wallets in exchanges, they will be always online("Hot Wallets" as we call them), therefore exposing certain aspects of vulnerabilities. The safest way of storing your coins to date is always putting them into a type of "Cold Wallets", where the wallet will only have access to the blockchain(or simply "go online") when you send out funds, reducing the chances of hacking incidents. A paper wallet is a type of free cold wallet, it's basically an offline-generated pair of public and private address and you will have it written somewhere, and keep it safe. However, it is not durable and is susceptible to various hazards.
Hardware wallet here is definitely a better option of cold wallets. They are usually USB-enabled devices that store the key information of your wallet in a more durable way. They are built with military-level security and their firmware are constantly maintained by their manufacturers and thus extremely safe. Ledger Nano S and Ledger Nano X and are the most popular options in this category, these wallets cost around $50 to $100 depending on the features they are offering. If you are holding your assets these wallets are a good investment in our opinion.
Frequently Asked Questions
Can I buy PSWAP with cash?
There is no direct way to buy PSWAP with cash. However, you can use marketplaces such as LocalBitcoins to first purchase BTC, and finish the rest of the steps by transferring your BTC to respective AltCoin exchanges.
LocalBitcoins is a peer-to-peer Bitcoin exchange. It is a marketplace where users can buy and sell Bitcoins to and from each other. Users, called traders, create advertisements with the price and the payment method they want to offer. You can choose to buy from sellers from a certain nearby region on the platform. is after all a good place to go to buy Bitcoins when you can't find your desired payment methods anywhere else. But prices are usually higher on this platform and you have to do your due diligence to avoid getting scammed.
Are there any quick ways to buy PSWAP in Europe?
Yes, in fact, Europe is one of the easiest places to buy cryptos in general. There are even online banks which you can simply open an account and transfer money to exchanges such as Coinbase and Uphold.
Are there any alternative platforms to buy PSWAP or Bitcoin with credit cards?
Yes. is also a very easy to use platform for buying Bitcoin with credit cards. It is an instant cryptocurrency exchange that allows you to exchange crypto fast and buy it with a bank card. Its user interface is very easy to use and the buying steps are pretty self-explanatory.
Read more on Polkaswap's fundamentals and current price here.