Review on Mooniswap by Rotimi Isaac Adeyele
Mooniswap one of the best exchange platformss
Mooniswap is a decentralized exchange (DEX) that began operations in 2020, the "DeFi Year." This is the "defi project" of 1inch Exchange. It's described as a "leading-edge automated market maker."
DEXs are becoming increasingly popular, owing to a number of factors:
They don't rely on a third party to keep your funds; instead, you have complete ownership over your coins and can deal with anyone who wants to purchase or sell them.
You are usually not required to provide any personal information. As a result, it is feasible to open an account and begin trading straight immediately.
Because their servers are distributed around the world, there is less chance of downtime.
They are virtually unaffected by cyber-attacks.
DEXs, on the other hand, often have a smaller liquidity order book than centralized exchanges.
Pros
- Withdrawal on the platform is free but there need to pay network fee when to withdraw
- The platform does not require third party to store your funds
- They are virtually not exposed to cyber attacks
Cons
- From my own point of view I can't specifically point out the negative side of the platform
