SpookySwap is a decentralised exchange (DEX) and one of the most popular projects in the Fantom ecosystem, providing a simple and inexpensive way to swap Fantom-based coins. Let’s take a look at how to purchase SpookySwap’s BOO token and why it is proving popular.
You can purchase SpookySwap online using a cryptocurrency exchange. This is the easiest way to buy and sell cryptocurrencies—all you need is a computer or mobile device. See below for our top picks of platforms that offer SpookySwap and simple steps to buy SpookySwap.
Set up a Web 3.0-compatible wallet such as MetaMask. It will be set to Ethereum by default so you will need to enable the Fantom network before sending FTM to it. You can do this by clicking on the network at the top, selecting “Add Network”, and filling in the boxes with the network details listed here.
Sign up with a broker or exchange that offers FTM. A regulated and reputable platform is the safest place to buy FTM. You will need to fill in your details on the registration form and possibly provide a photo ID for verification as well. To do this now, you can register with our top recommended platforms below.
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Send your FTM to your wallet by copying your wallet address and pasting it into the “Withdrawals” section of your exchange. Now head over to Zapper, click “Connect Wallet” and grant Zapper access to it. In Zapper’s Exchange tab, set the “From” currency as FTM and the “To” currency as BOO to make your swap.
To buy BOO on Zapper you will first need to purchase some FTM to swap for it. There are a number of platforms that offer FTM but it is worth considering their fee structures and what features they provide before selecting one. To make things simpler, we’ve already shortlisted the top places to buy FTM below.
Always do your own research before parting with your money. If you’re not sure where to start, here are some factors you might want to consider before making a SpookySwap investment.
Strong Endorsements. SpookySwap is endorsed and supported by the Fantom Foundation and has been fully audited by CertiK. It has also seen impressive support from the community, becoming one of the most popular projects on the Fantom network and the Fantom project with the most value locked into it.
Low-Cost Services. While Ethereum-based DEXs suffer from high gas costs, SpookySwap entices users by leveraging the much lower fees on Fantom. It also lets users bridge assets from other blockchains and provides other features such as farms, staking pools, and non-fungible tokens (NFTs).
Token Benefits. BOO functions as a governance token, giving users the chance to make decisions about the project’s future. There is a finite number of BOO and a portion of SpookySwap fees are used to buy BOO which is used to pay rewards to those that stake BOO. This system could make BOO more valuable as SpookSwap becomes more successful.
Want to find more hidden gems in the Fantom ecosystem? Check out our top 5 Fantom projects to invest in!