What is Coco Swap? Coco Swap is a blockchain project with NFT, web3 or DeFi elements aimed at reaching smartphone users. As Kriptokoin.com, we answered the curious questions such as what is Coco Swap, what it offers, what is COCO coin, what is it used for, how to get it, what are its advantages and disadvantages.
What is Coco Swap? What does the project offer?
Coco Swap is a blockchain platform built on Binance Smart Chain (BSC). The platform works with DeFi protocols and has a native cryptocurrency named COCO coin. Aiming to reach Android and IOS users, the web3 themed project makes it possible to exchange assets such as crypto and NFT via smartphones. The platform gives token rewards to users who perform cryptocurrency or NFT exchange transactions.
In this way, users have the opportunity to earn passive income by making transactions. The platform, which provides crypto money and NFT exchange services, gives 2% of the transaction fees to the users as a reward. 2% of the remaining fee is burned and 3% is used for projects. In addition, the platform offers its users a high-speed staking feature.
What is COCO coin? What is it used for?
COCO coin is the native cryptocurrency of the Coco Swap platform. Cryptocurrency can be used for staking, liquidity, platform farming and DeFi transactions. COCO, a BEP-20 token built on the BSC network, is used as a means of payment for almost all transactions performed on the platform. Users can exchange cryptocurrencies using COCO. It can be used for NFT purchases and printing.
At the time of writing, the cryptocurrency had a market cap of $25 million. 139.54 billion of the tokens, whose maximum supply was determined as 150 billion units, were in circulation.
What are the advantages?
- COCO is a staking cryptocurrency. Users can earn additional token rewards at expiry by locking their COCO holdings for a certain period of time. Investors can earn income by simply holding (HODLing) their tokens.
- Built on Binance Smart Chain, the Coco Swap platform operates at high speed. However, it is possible to perform very inexpensive transactions.
- COCO coin holders can earn additional token rewards by contributing to the network and transacting.
What are the disadvantages?
- COCO is currently listed on only one exchange. Therefore, the accessibility of the token is quite low. The listing of cryptocurrencies by major exchanges is an important milestone for these assets. Listings are important for cryptocurrency adoption.
How to get COCO coin?
Investors interested in COCO coin can become a member of the exchange where the token is listed. The token is currently listed on the decentralized exchange (DEX) called PancakeSwap. Interested users can purchase COCO by signing up for PancakeSwap and depositing assets.
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