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Review on Switcheo Network by Danh Huỳnh Ngọc Công

Revainrating 4 out of 5

Switcheo Network - the next leader of DEX 2.0 is here!

Switcheo Network is one of the decentralized exchange 2.0. It is almost complete from the operation to the design. Trading on the exchange, users will have very positive feelings and experience. Right now, what it needs to improve is the usage and the popularity which needs a lot of efforts in marketing activities



Pros
  • - Switcheo Network is a famous multi-chain decentralized exchange that allows the users to trade assets on three different blockchains including Ethereum blockchain, EOS blockchain, and NEO blockchain. This is very huge because the number of tokens on these three exchanges are numerous and the number of active traders of these token are extremely big. The blockchains lovers sooner or later can easily find most of their favorite cryptocurrencies here without having to switch among different websites or using DEXs
  • - The interface is so perfectly beautiful that everyone who use it will give it so much love. The layout for function buttons is also out out this world, so easy to navigate where they are. Everything is fit on one screen and there is no need to scroll down and make it so inconvenient. It does look like a centralized exchange rather than a decentralized exchange. Users can switch between light mode and night mode as their desire
  • - Being DEX, Switcheo is secure from any attacks from the hackers thanks to the verification of the nodes on the three blockchains. It also requires no identities verification, registration, or any other private and sensitive information. Further more, users can trade on main net to earn profits, test net to check the exchange, and dev net to test the developments. Also, it does not ask for any deposit fees or withdrawal fees, users only need to pay for transaction fees as a must of every blockchain
  • - Users can reach always reach the customer support as they are always available. They will provide their help via the chat box on the support section of Switcheo dot netowrk or via the email
  • - The exchange is led by a team with much experience in blockchain, technologies, and financial which means it is well orientated. They also receive much advice from the leader of NEO and Zilliqa
  • - The exchanges have hosted many competitions and campaigns to get the attention from the community, keep them active on the platform, and promote the startups. These events have given a lot of benefits to its users
  • - Trading activities on this exchange are performed at ease as it is designed to give the same experience on the centralized exchanges. Buying and selling can be performed within a few tabs. For buying, they provide both Limit order and Market order. The exchange also calculate the estimated fees for makers and takers. There are four base cryptocurrencies for trading pairs: SDUSD, NEO, ETH, and EOS. Besides, there is also an OTC market so users can trade tokens directly to the other ones
  • - The exchange is open-sourced whose source code is shown on GitHub; therefore, the transparency and further development for the project is totally potential
  • - The exchange supports over ten different languages making it useful for the users from many different countries in the world
Cons
  • - Switcheo is a decentralized exchange so its performance depends heavily on the status of the blockchain. Transaction fees and times may go dramatically high if congestion happens
  • - The volume is too low so the liquidity of this exchange is not healthy. They need more effective marketing activities to catch the attention of more and more users
  • - Now, with three blockchains, we have to connect with the addresses three times. I cannot imagine if the exchange utilizes updated cross-chain technologies and enables more than hundred blockchains. This is a bad news for some one who holds many types of cryptocurrencies and is impatient

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