Is it possible for a crypto exchange to generate profits without imposing transaction fees, deposit fees, or withdrawal fees? While many Decentralized Exchanges rely on trading fees to operate, AirSwap stands apart as a distinct crypto exchange and coin-swapping platform that offers its services essentially free of charge. Unlike traditional crypto exchanges that charge a small percentage of the transaction amount as a fee, AirSwap operates uniquely by providing its facilities without such costs.

In this article, let’s have a look at what AirSwap is and how to buy it in India.

What is AirSwap?

AirSwap is a decentralized platform designed for peer-to-peer trading of Ethereum tokens. Unlike traditional exchanges that act as intermediaries, AirSwap allows users to trade their tokens with each other directly. The platform operates in a decentralized manner, meaning that AirSwap does not control the users’ funds, and all trading executions are carried out through smart contracts on the Ethereum blockchain.

Here’s how the AirSwap platform functions:

• Peer-to-Peer Trading: Users on AirSwap communicate with each other to express their desire to trade specific tokens at particular prices.
• Smart Contract Execution: When both parties agree to proceed with the trade, the Swap Protocol, which is an Ethereum-based smart contract, automatically executes the trade.
• Decentralized Control: One of the significant advantages of AirSwap is that users maintain complete control of their funds until the trade is successfully executed. This feature ensures that both parties in the trade either receive the tokens they agreed upon or neither receives anything.

By operating in a decentralized manner, AirSwap provides users with increased security and control over their assets during the trading process. It eliminates the need for a central authority, allowing for more trustless and transparent peer-to-peer exchanges on the Ethereum blockchain.

Key Features of AirSwap

• Decentralized Wallet Access:

AirSwap ensures that no AST assets are stored on its network; instead, they remain securely held in users’ wallets, granting them complete control and safety. This critical feature addresses the growing concerns of exchanges facing hacking attempts worldwide.

• Combatting Front Running:

Using the AirSwap Trader, the platform matches users through an indexer protocol without revealing trade information. This approach prevents front-running and allows users to connect with each other to negotiate and execute trades privately.

• AirSwap Indexer:

Like a search engine, the AirSwap Indexer provides public counterparty information. Traders can utilize this data to contact counterparties privately for potential trading opportunities.

• AirSwap Oracle Protocol:

The AirSwap Oracle Protocol furnishes traders with real-time market data, including current prices, demand, and supply. This information aids users in making informed trading decisions.

• Swap Protocol for Transaction-Free Trading:

AirSwap facilitates peer-to-peer ERC20 token trading through its Swap Protocol. This protocol enables interested parties to establish an exchange value for their tokens and subsequently execute the trade. As it bypasses central exchange systems, order books, and ledgers, transactions on AirSwap are conducted without incurring any fees.

Pros & Cons of AirSwap

Pros

• No transaction fees: AirSwap offers cost-free transactions, eliminating the burden of additional fees commonly associated with centralized exchanges.
• No third-party centralized exchange required, peer-to-peer transactions only: AirSwap operates as a decentralized platform, allowing users to trade directly with each other without intermediaries, enhancing security and privacy.
• Quick transactions with no requirement for blockchain consensus: Due to its unique Swap Protocol, AirSwap enables rapid and efficient token exchanges without requiring the time-consuming blockchain consensus process.
• Information search, correct price suggestions, and real-time market data: AirSwap’s user-friendly features include an information search function, pricing suggestions, and access to real-time market data, empowering traders to make informed and timely decisions.

Cons

• New in the market: AirSwap may face challenges in gaining traction and establishing its presence amid competition from well-established players in the crypto exchange market.
• Speculative in nature: As with many cryptos, the value and prospects of AirSwap’s native token (AST) can be subject to speculation, leading to potential price volatility.
• Limited utility – just a crypto token: While AirSwap focuses on facilitating crypto token exchanges, its current utility may be limited compared to platforms offering a broader range of financial services and use cases.

Future of AirSwap

The future outlook for AirSwap involves a continuous integration of new features and enhancements to its trading platform. While peer-to-peer trading offers numerous benefits, it also comes with certain challenges, such as the limited availability of trading partners. To address this issue, AirSwap is actively developing innovative tools that will enable users to locate trading counterparts more efficiently, leading to increased automation, smoother execution, and a seamless trading experience.

Now, let’s see how you can buy AirSwap tokens in India.

How to Buy AirSwap in India?

Step 1: Set up a crypto wallet

Choose a reputable crypto wallet that supports AirSwap (AST). You can opt for hardware or software wallets.

Step 2: Verify your identity

Most crypto exchanges in India require users to complete a Know Your Customer (KYC) process. Prepare your identification documents, such as government-issued ID (passport, driver’s license) and proof of address (utility bill, bank statement).

Step 3: Choose a crypto exchange

Select a trusted and reliable crypto exchange that supports AirSwap and offers services to Indian users.

Step 4: Create an account on the exchange

Sign up to create an account on the chosen exchange platform. Provide the required information and complete the KYC process, if necessary.

Step 5: Deposit funds into your exchange account

Deposit the desired amount of Indian Rupees (INR) or any other supported cryptos into your exchange account. You can use bank transfers or other payment methods supported by the exchange.

Step 6: Locate AirSwap (AST) on the exchange

After depositing funds, search for “AirSwap” or “AST” on the exchange platform to find the trading pair with INR or other cryptos.

Step 7: Place an order to buy AirSwap (AST)

Depending on the type of exchange you are using (spot, margin, etc.), choose the appropriate order type (market order, limit order) and specify the amount of AirSwap (AST) you want to purchase. Review the details carefully before finalizing the order.

Step 8: Store your AirSwap (AST) securely

Once your purchase is successful, withdraw the AirSwap (AST) to your crypto wallet for added security. It is advisable not to keep large amounts of cryptos on exchanges.

Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.