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How To Earn Free Avalanche (AVAX) Using FreeBitcoins Faucet?

Avalanche (AVAX) is one of the hottest cryptocurrencies in 2021 and 2022. FreeBitcoins.com is honored to be able to give out free AVAX to our users for several months now. This blog post hopefully will teach you how to easily use our website, earn your own AVAX, and withdrawal them!

1. Create your FreeBitcoins XChange account.

Link: https://freebitcoins.com/xchange/signup

You will need to create an account on the FreeBitcoins exchange (which we call XChange in honor of the creator of it.) Our XChange is a full-service altcoin exchange with a Bitcoin-only base. There are no stable coins or fiat on our XChange. This allows users to have a bit of privacy while trading in the “Cryptocurrency world”.

FreeBitcoins.com signup page to register a new account.  Accounts are then able to use the FreeBitcoins faucet to earn free Avalanche (AVAX) and AVAX tokens.
FreeBitcoins.com signup page to register a new account. Accounts are then able to use the FreeBitcoins faucet to earn free Avalanche (AVAX) and AVAX tokens.

2. New accounts must wait 24 hours before they are able to use the FreeBitcoins AVAX faucet.

This allows our team to prevent abuse before the abuse happens. We constantly monitor new registered accounts. This is a good time for users to check our beautiful affiliate system and register their second accounts.

We allow users to have one main account and one self-affiliated account. This allows users to see our system work for themselves, but prevents us from being over run by just a few users with 10,000 accounts.

3. Use the FreeBitcoins AVAX faucet for the first time and earn free AVAX using FreeBitcoins!

Link: https://freebitcoins.com/faucet/

If your FreeBitcoins account is 24 hours old, then you are ready to try our AVAX faucet!

**The number one error we see on our faucet is users typing their XChange name incorrectly. If your user name is “Brandon” on XChange, then you can’t type “brandon” on the faucet. Brandon and brandon are two totally different accounts because our website is CaSe SenSitIVe usernames for additional security, so please be sure to keep that in mind during this step.**

1. Solve the “I am human” captcha at the top of the page.
2. Enter your username (correctly).
3. Click “Get Avalanche”

Follow these steps on the FreeBitcoins faucet to earn the cryptocurrency Avalanche (AVAX) for free.  These free coins are deposited directly into your XChange account on the FreeBitcoins altcoin exchange.
Follow these steps on the FreeBitcoins faucet to earn the cryptocurrency Avalanche (AVAX) for free. These free coins are deposited directly into your XChange account on the FreeBitcoins altcoin exchange.

Check to make sure you received the free Avalanche into your altcoin exchange account on FreeBitcoins.com!

Link: https://freebitcoins.com/xchange/profile/deposit

If you scroll to the bottom of the “Deposit” page you should be able to see your free AVAX faucet drip.

Enjoy!

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What happened to BonusBitcoin.co?

What happened to BonusBitcoin.co?
What happened to BonusBitcoin.co in 2021? tl;dr exit scam!

BonusBitcoin.co was a long-running Bitcoin faucet that disappeared overnight in 2021. Users that had funds or affiliates on BonusBitcoin.co should consider everything lost. We hate that this happens. FreeBitcoins.com was a major affiliate for BonusBitcoin.co as well.

Why Did BonusBitcoin.co exit scam?

We don’t know why BonusBitcoin.co exit scammed their users and affiliates. They didn’t even bother to make a closing notice for us!

My bet would be that they had earned enough and Bitcoin prices skyrocketed. Those two mixers made a “fuck it” attitude and that is likely what lead to the exit scam.

Or perhaps they got in a horrible accident and died. Who knows!!!!!!

What should BonusBitcoin.co users and affiliates do now?

You should find the next best Bitcoin and altcoin faucet in 2022!

We maybe bias, but we think that FreeBitcoins.com is one of the best faucet and affiliate programs in this age of cryptocurrency.

The other favorite faucet is: FreeBitco.in

Please take a chance to browse our website and give us feedback.

Sorry if you lost very much on the BonusBitcoin.co scam.

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Freebitcoins Guide For The Avalanche Discord Tip Service Called Tip.Blue

What is Tip.Blue?

Tip.Blue is a new service built by some of the same team that has built other projects on the Avalanche network as well.

Tip.Blue allows users to tip each other cryptocurrency using just their Discord accounts. These offline tips reduce blockchain spam and reduce the massive fees that can incur by making an on-chain transfer.

Using Tip.Blue allows users to move a micro amount of AVAX or AVAX tokens fast and easily. This is perfect for old Avalanche users or brand new users that have never used cryptocurrency before.

How can I start earning Avalanche and AVAX token tips using Tip.Blue?

First off, you must have a Discord account.

Then visit https://my.tip.blue/ and authorize your account.

That’s it! You’re ready to start earning tips on the Avalanche network. This website is absolutely better than even the AVAX faucet we offer earn on FreeBitcoins.com! (I still recommend getting some free Avalanche from the FreeBitcoins.com faucet, but this Tip bot is really good.)

Does Tip.Blue have an affiliate system (invite a friend program)?

Tip.Blue does not have an affiliate system at this time. I don’t think that there is an affiliate system in the plans at this time. Most users on the Tip.Blue platforms are generous with tips and this tends to make affiliating a bit more difficult anyways.

Affiliates should be sure to check out the cryptocurrency affiliate system here on FreeBitcoins.com. More details can be found here: https://freebitcoins.com/xchange/profile/affiliate

Is there anything else I can do to earn free tokens or coins by using Tip.Blue

One last thing you should do to get some free Avalanche or free BLUE tokens from Tip.Blue is to join their Discord chat: https://discord.gg/rUJGnkQeQG

The Tip.Blue Discord chat has been known to have some crazy tip wars and tip rain storms. Join and say FreeBitcoins.com sent you… We might send you some Freebitcoins (FREE) tokens!

You can also follow Tip.Blue’s Twitter here: https://twitter.com/TipBlueBot

This is the Tip.Blue logo.  Start tipping on Discord using this new service that is built on the Avalanche network.
This is the Tip.Blue logo. Start tipping on Discord using this new service that is built on the Avalanche network.
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What is Avalanche Tokenomics for AVAX tokens?

In short, Tokenomics means how a token will be distributed or allegedly distributed.

Where can I find Avalanche (AVAX) Tokenomics for a token?

Most Avalanche tokens have a dedicated website to view the lead teams’ Tokenomics for their AVAX token. For example, the Freebitcoins (FREE) Tokenomics for our token on the AVAX network can be found here: https://freebitcoins.com/blog/freebitcoins-free-token-on-avalanche-tokenomics/

Why are Avalanche (AVAX) token’s Tokenonmics important?

Please keep in mind that dishonest teams may lie about the distribution or use of the tokens that they created on the Avalanche network.

Besides that, Tokenonmics are important for tokens on the Avalanche network because it serves as the foundation of “the tokens” future. Will the distribution be accepted? Will there be enough budget or liquidity for real-world marketing? There are a thousand more questions, and all those questions add up to the final answer for “Will this AVAX token succeed?”

What is the author’s favorite token on the Avalanche network and why?

I’m biased, but my favorite token on the Avalanche network has got to be Freebitcoins (FREE). FREE is a token that our team created to be traded on our centralized exchange and build a bridge to Defi exchanges such as Pangolin and other Avalanche decentralized exchanges or services.

This Freebitcoins (FREE) Avalanche token can be traded on our centralized exchange here: https://freebitcoins.com/xchange/market/FreeBitcoinsAvax

It can also be traded on the Avalanche decentralized exchange “Pangolin” at the link found here: https://info.pangolin.exchange/#/token/0xca7730d239f9fca6d9683b0a62ed1a6c660d7cba

A complete summary of Freebitcoins (FREE) Avalanche Tokenomics can be found on our blog post here: https://freebitcoins.com/blog/freebitcoins-free-token-on-avalanche-tokenomics/

Example of an Avalanche Tokenomic pie chart. This pie chart is for Freebitcoins (FREE) Avalanche Tokenonmics.

What is the difference between the FreeBitcoins exchange and the Pangolin exchange?

The main difference is that FreeBitcoins exchange only supports Bitcoin pairs.

Pangolin allows anyone to make any market for Freebitcoins (FREE) Token. Multiple market pairs mean that our token is linked to many other tokens and coins that users worldwide may be interested such. Such as stable coins. FreeBitcoins.com does not support stable coins, but Pangolin does.

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Faucet Avaware (AVE), Avalanche (AVAX), & FreeBitcoins Token (FREE)

How can I get some Avalanche for free?

With the Avalanche network booming this week. Lots of people are asking, how can I get some Avalanche for free? Lucky for you, FreeBitcoins.com has a wonderful cryptocurrency faucet that gives away Avaware (AVE), Avalanche (AVAX), and our own AVAX token called FreeBitcoins (FREE).

All three of the cryptocurrencies can be traded on Defi exchanges such as Pangolin and be used in browser wallets such as Metamask.

How do I get registered to start earning some free Avalanche, Avaware or other FREE tokens from the faucet?

  1. Sign up on the FreeBitcoins.com altcoin “exchange” by visiting: https://freebitcoins.com/xchange/signup
  2. Visit the FreeBitcoins.com “faucet”. Solve the captcha, enter your FreeBitcoins exchange username, and choose one of the three AVAX faucet options. https://freebitcoins.com/faucet/
  3. At this point, your account will have a small amount of whatever coin you picked. You can check your balance by either looking at the bottom of the “Deposit” page or by checking your “balance” page. https://freebitcoins.com/xchange/profile/deposit or https://freebitcoins.com/xchange/profile/balance

What is “Freebitcoins (FREE) token” and why is there so much of it available on the faucet?

Freebitcoins (FREE) token on Avalanche.
Freebitcoins (FREE) token on Avalanche.

Freebitcoins (FREE) token is a token our team created on the Avalanche network. FREE bridges our centralized exchange to the decentralized exchanges based on the Avalanche network. Users can trade FREE on both our exchange and on defi exchanges such as Pangolin.

Fifty percent (50%) of all FREE is distributed through the FreeBitcoins.com faucet. This was our chosen distribution method, rather than more traditional ways. We call this an ITFG (initial token free giveaway! har har)

For more details about FREE please visit our blog post that specifically covers all the tokenomics: https://freebitcoins.com/blog/freebitcoins-free-token-on-avalanche-tokenomics/

Can I invite my friends and earn coins whenever they use the faucet? Can you tell me more about the FreeBitcoins affiliate system?

FreeBitcoins.com has a wonderful invite a friend affiliate system in place! Whenever you invite a friend using your special link found on the affiliate page. Your friend will be registered to your account privately forever. Each time your affiliate uses the faucet. You will be given a faucet hit too. Affiliates also earn 50% of trade fees on our exchange as well.

There are no limits on earnings.

More details and your link can be found here: https://freebitcoins.com/xchange/profile/affiliate

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Can you really earn Free Bitcoins in 2022 with FreeBitcoins?

I can’t tell you how many times I’ve seen “No one gives away free bitcoins!” It reminds me of “Bitcoins dead” and both phrases make me want to bang my head against a wall, frankly, because these people are acting like Bitcoin is some coveted StarTrek money when it’s not. Even with Elon Musk & Co pump and dumping cryptocurrency, Bitcoin is still not money.

Bitcoin has literally been being given away for free since before Bitcoin was being sold for fiat. This isn’t an opinion… it’s a fact!

That being said, here at FreeBitcoins.com, we are happy to give you some free Bitcoin! Let me explain why though, to start. I can monetize this website above what I could sell Bitcoin for at this moment. As Bitcoin increased… we give less, it’s not rocket appliances. This same application goes with DOGE and everything else. You may not be able to afford to move the Bitcoins on the blockchain, but on FreeBitcoins exchange, you will be able to use those Bitcoins to purchase an altcoin (such as Clamcoin [CLAM]) and then easily withdrawal those coins from our website to your own secure wallet via the blockchain.

Follow these simple steps to get started earning some Free Bitcoins with FreeBitcoins.com:

  1. Create a FreeBitcoins.com “exchange” account by visiting: https://freebitcoins.com/xchange/signup
  2. Visit the FreeBitcoins.com “faucet”. Solve the captcha, enter your FreeBitcoins exchange username, and pick the cryptocurrency you wish to receive. https://freebitcoins.com/faucet/
  3. At this point, your account will have a small amount of free cryptocurrency. You can check your account balance by either looking at the bottom of the “Deposit” page or by checking your “balance” page while you’re logged in. https://freebitcoins.com/xchange/profile/deposit or https://freebitcoins.com/xchange/profile/balance

It worked! I now have some free Bitcoins, but I can’t afford to withdrawal them from FreeBitcoins.com… what should I do?

Sending Bitcoin on the blockchain is a relatively expensive task these days. Our website charges a flat 0.0003 BTC fee for withdrawals (this fee is subject to change.) Our faucet currently pays out 0.000000010 Bitcoin every hour… so you can do that math!

There is a trick to using our website and withdrawing your cryptocurrency to your wallet! If you use the Bitcoin dust that you accumulate through our faucet and purchase small altcoins… such as Clamcoin [CLAM], you will find that you’re able to withdrawal within just a few hours of using our faucet!

What is Clamcoin, and what can I do with it?

Clamcoin [CLAM] is my favorite cryptocurrency at the moment, and I’m biased because I own so many! CLAM is also used on a famous website called Just-Dice.com. You are able to withdrawal from FreeBitcoins.com to Just-dice in just a few hours of using our faucet.

CLAM is also a Proof of Stake coin. PoS means the coin itself secures the network. Coin holders that “stake” are rewarded by earning all the blockchain fees + one (1) new CLAM per minute that will continue forever. This means there are about 1440 CLAMS created a day forever.

Is there anything else I can do with these free cryptocurrency coins?

Yes, there are lots of options. Think outside the box and dream big.

FreeBitcoins.com also offers a solid affiliate program. Joining our affiliate program is as easy as visiting this link: https://freebitcoins.com/xchange/profile/affiliate 

Every time one of your affiliates uses our faucet, you will get a faucet hit as well for free! Affiliates also earn 50% of trade fees on our exchange and our simple to use cryptocurrency swap tool.

We do kindly ask that you limit yourself to only two accounts on FreeBitcoins.com. One main account and one self-affiliated account. Having additional accounts will cause your accounts to be pwned.

Have fun and enjoy.

Please feel free to contact us if you have any questions: https://freebitcoins.supportsystem.com/

Be sure to check out our second favorite legit free bitcoin faucet as well!

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FreeBitcoins (FREE) Token On Avalanche Tokenomics

FreeBitcoins (FREE) Token
FreeBitcoins (FREE) Token is now live on the Avalanche network and tradable on FreeBitcoins.com or the decentralized exchange “Pangolin”!

FreeBitcoins.com launches “FREE” token on Avalanche network, the Pangolin exchange, and Embr.Finance.

FreeBitcoins.com has officially launched our own FREE token on the Avalanche network. The official contract for FREE is: 0xca7730d239f9fca6d9683b0a62ed1a6c660d7cba

Please be sure to always verify that you are trading the proper contract when trading FREE on Pangolin or any other decentralized exchange.

FREE can be traded on the DeFi exchange Pangolin. The direct link is: https://info.pangolin.exchange/#/token/0xca7730d239f9fca6d9683b0a62ed1a6c660d7cba

FREE can also be traded at: https://app.embr.finance/#/trade

The best place to trade FREE tokens on our centralized altcoin exchange here at FreeBitcoins.com (in my bias opinion!): https://freebitcoins.com/xchange/market/FreeBitcoinsAvax

FREE Token supply information, distribution, & tokenonmics details.

The goal of FREE Token is to help further bridge the centralized FreeBitcoins.com altcoin exchange with other DeFi exchanges and to allow users to experience both centralized and decentralized exchanges for free.

The total outstanding supply of FREE at launch is 1,000,000,000 FREE.

50% of all FREE Tokens are being distributed through the faucet located here on FreeBitcoins.com. https://freebitcoins.com/faucet/

40% of all FREE will be held for company liquidity.

5% Goes to Steven Steiner (CEO of FreeBitcoins.com, and author of this blog post!)

5% Goes to Scott (CTO of FreeBitcoins.com)

Here is a visual example:

FREE Token Distribution Pie Chart Tokenomicshttps://i.ibb.co/vDzt8Ck/FREE-Tokenomics.png

Why do I think bridging the FreeBitcoins.com altcoin exchange with Avalanches decentralized exchange is a step in the right direction?

My goal with FreeBitcoins is to allow people to experience new and awesome blockchain technology without having to invest their life savings.

50% of all FREE is given away through our cryptocurrency faucet. At the moment, we are giving away 15 FREE for each captcha solved. This number may be adjusted as demand increases or decreases.

The reason we went with the DeFi on Avalanche is due to its affordability to use. AVAX & FREE is fast and easy for users to use in combination with a MetaMask wallet.

FREE allows for users to arbitrage between our centralized exchange with Bitcoin and Avalanches decentralized exchange with a number of pairs.

Users can FREE liquidity to the Pangolin DeFi exchange and earn fees whenever our FREE token is traded on DeFi. This fourth involves more affordable ecosystems with the FreeBitcoins.com brand.

Good luck and we hope you enjoy! Please be sure not to confuse this token with our other token FBTC on the Ethereum network.

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How To Get Free Wownero In 2022 – Faucet and Meme To Riches – Blog

Can I still get free Wownero in 2022?

Yes, you absolutely can still find free Wownero in 2022. Getting free Wownero isn’t as easy as it was in 2020, but it is doable. This blog will cover several different options that users can become involved in the Wownero cryptocurrency without investing “real” money. Learn how to use our Wownero exchange and other privacy-based cryptocurrencies for free using these methods. Remember when we did this post in 2021? Little fancier this year! We also have a blog about our Wownero faucet as well.

Use the cryptocurrency faucet & exchange on FreeBitcoins.com.

I can hear you know, “bitch bitch bitch Faucet bitch bitch”. Bad attitude. These faucets are worth your time, and if your times are that fucking important, I’m not sure why you’re reading an article written by me. The key to using our faucet is joining our affiliate system.

You can use the faucet once per hour, but if you get ten signups that are your affiliate, you could potentially make ten faucet hits per hour without any effort because our faucet pays 1 to 1 for affiliates and their signups. 

Sharing our site can earn you much more than you could ever do on your own. 

We also recommend self-affiliating one account and using both accounts on the faucet. If you use any more than two accounts, our system may put a hold on your accounts and require you to contact us.

Convert your FreeBitcoins.com faucet and affiliate earnings into Wownero. Then withdrawal.

At this point, you should have a few wallets full of several altcoins in your balance. The trick is selling these coins for Bitcoin and then using those Bitcoins to purchase Wownero.

Thankfully, FreeBitcoins.com offers a full-service altcoin exchange in the very place your earnings were just deposited!!  

Go through and sell all of the altcoins until your account has as much Bitcoin as possible. Then access the Wownero market and make your order to purchase Wownero. The Wownero will reflect in your exchange account after the order fills.

If you already have your Wownero wallet installed, this is the point where you can withdrawal the FreeBitcoins.com Wownero to your home wallet. Go to the page withdrawal page and follow the steps. Most withdrawals are processed instantly.

Earning Wownero by making memes

One of the most popular ways to earn Wownero is to create a dank meme and share it with the community at https://suchwow.xyz/

It is entirely free to join and start creating memes. You can also browse memes created by other Wownero users from around the world in multiple languages. I’ve created a few Wownero memes myself and they can be viewed by going to the FreeBitcoins Suchwow.xyz profile page at https://suchwow.xyz/?submitter=freebitcoins.com

FreeBitcoins.com’s exchange provides users with a free Wownero address that can collect meme payments. Signup https://freebitcoins.com/xchange/signup on and get a free Wownero address!

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How to start earning free Avalanche and Avaware crypto with no money?

This blog will walk you through the basics on how to use FreeBitcoins.com to earn free Avalanche, Avaware, Bitcoin, and other cryptocurrencies!

Editor note: We have launched our own AVAX token called Freebitcoins (FREE). The contract is 0xca7730d239f9fca6d9683b0a62ed1a6c660d7cba and more information can be found here.

How to start earning free Avalanche and Avaware crypto with no money?

Start earning free Avalanche and Avaware simply by having an altcoin exchange account registered here on FreeBitcoins.com. After registering your account, you will be able to use our free cryptocurrency faucet once every hour. The cryptocurrency faucet is basically just a way for us to “leak” a small amount of cryptocurrency into our exchanges ecosystem. Our faucet is located at: https://freebitcoins.com/faucet

Users are able to choose from over 20 different altcoins every hour and have those free coins deposit directly into their exchange account.

We recommend that users consider starting to learn smart contract-based blockchain coins using Avalanche. Avalanche is very similar to Ethereum, but the fees are much cheaper at the moment. For example, we spent $1,500 on Ethereum created FreeBitcoins Token, and if we had used Avalanche, it would have been about $15! ETH is great for some people, but AVAX is perfect for others who don’t have a spare $1,500 laying around!

What are the steps to get a start using FreeBitcoins.com to earn free Avalanche and Avaware?

  1.  Register your exchange account at https://freebitcoins.com/xchange/signup
  2.  Visit our free cryptocurrency faucet at https://freebitcoins.com/faucet/
  3. Type your exchange user name and be sure it is CaSe SenSiTiVe. Example: The user Bob isn’t the same as the user bob.
  4. Wait a few seconds and check the balance at the bottom of the page on our balance page. https://freebitcoins.com/xchange/profile/deposit

If you have any problems with any of these steps, please reach out to the FreeBitcoins.com support team by opening a support ticket at: https://freebitcoins.supportsystem.com/

We answer support tickets within minutes often, and at the very worst, you may have to wait 24 hours for a response. FreeBitcoins.com prides our ability to maintain and respond to support tickets swiftly, but the chance are those four steps will work for you!

I have coins! I have my first free cryptocurrency. Now what?

The world is your oyster at this point!!! No, just kidding, but all most. At this point, you only have a micro amount of cryptocurrency. It likely isn’t even enough to trade yet.

You should keep using the faucet once every hour and build up your balance until you can trade. The goal of this website is for you to eventually withdraw your own coins to your own private keys.

We recommend learning how to withdrawal a cryptocurrency like Clamcoin before trying to learn how to withdrawal Bitcoin. CLAM only costs 0.01 CLAM to make a blockchain transaction. Bitcoin can cost up to 0.0003 BTC! Take the Bitcoin you earn for free, buy CLAM, and withdraw the CLAM on the blockchain for almost free! (Check out Just-Dice.com, it’s a fun dice game that uses Clamcoin only! You can convert the CLAM you win for Bitcoin using our FreeBitcoins Clamcoin exchange.)

A general rule in cryptocurrency is that “He who owns the private keys, owns the coins.” So, I strongly suggest downloading your own wallet, installing Metamask, and buying a physical Trezor device!

Where can I learn more about Avalanche and Avaware?

Avalanche is the main guts of everything in this article, so you should absolutely take the time to learn about Avalanche first. This of Avalanche as like the Ethereum and Avaware is like some token on Etheruem. 

The official Avalanche cryptocurrency website can be found on this webpage: https://www.avax.network/

Avalanche claims to have recently raised $250,000,000! We hope that they use some of that money to invest in a real .com domain! 😉 

The official website for Avaware is https://avaware.network/, and we hope they earn enough money someday to eventually join the .com world as well!

Good luck!

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Comparing Centralized to Defi Cryptocurrency Exchanges For Avalanche

What is the best route for the user to go that is interested in trading cryptocurrency in 2021? Should you choose a traditional centralized exchange, or select one of these new fancy “Defi” aka “Decentralized” Finance Exchanges. This article will explore the main difference between trading Avalanche on a centralized exchange, like FreeBitcoins.com/xchange, vs. a decentralized exchange, like Pangolin.

Before you even start reading, I want to let you know that you can get free Avalanche, Avaware, Bitcoin, and lots of other cryptocurrencies from the FreeBitcoins faucet located at: https://freebitcoins.com/faucet/

What is the cryptocurrency Avalanche?

Avalanche (AVAX) is basically just another smart contract Ethereum like coin brought to my attention by my partner over the past few weeks [EDIT: My partner doesn’t agree with this sentence, read what he has to say here.]. Recently, our team launched FreeBitcoins Token on the Ethereum network, and we spent over $1,500 worth of Ethereum to do so!!! As you can imagine, burning $1,500 isn’t exactly a good day in the office at our small company! However, Avalanche allows our team to learn intelligent contracts at a much cheaper rate at the moment.

My main bitch with all these “Smart contracts of the week” coins is that it seems to me when any of these blockchains get any hint of success… they will be in the exact same spot Ethereum is in now with their high fees and long waits!!!!!!

But I digress. People like smart contracts, so let’s break down the best and worst ways to buy, sell, trade, and otherwise dink around with a cryptocurrency like Avalanche! I do think they are kind of fun as well. 🙂

Please be sure to check out Tip.Blue to get an idea of what kind of projects can be built on the Avalanche network.

The Two Avalanche (AVAX) Exchanges We Are Comparing Today

Today, we will be comparing the centralized exchange here on FreeBitcoins.com to the Defi exchange located on Pangolin.


Centralized Cryptocurrency exchange https://freebitcoins.com/xchange/

FreeBitcoins Centralize Altcoin Exchange Screenshot Image
Screenshot of the FreeBitcoins.com Altcoin Exchange mainpage.


Decentralized Cryptocurrency exchange https://pangolin.exchange/

Pangolin Defi exchange screenshot of Aveware and Blue.tip pair
Screenshot of the trade page for Avaware and Tip.Blue on the Pangolin Defi exchange.

The Main Difference Between FreeBitcoins Exchange and Pangolin

The main difference between a centralized Avalanche exchange and a decentralized Avalanche exchange is that users can only provide one side of the books at a time on a centralized exchange. With a decentralized exchange, users are required to give both sides of the book.

Example: A user has 10 Avalanche that they wish to provide to the market for liquidity on the books. The user wishes to add this liquidity to an Avalanche / Bitcoin marketplace.

FreeBitcoins.com Centralized exchange: The users set a “limit order” at the price point they wish to sell the 10 Avalanche. These Avalanche are then added to the exchanges ask.

Pangolin Defi exchange: The user must provide the equivalent of Bitcoin that matches the 10 Avalanche that they wish to sell. After the users provide 10 Avalanche and the equivalent amount of Bitcoin. The user’s liquidity is added to both sides of the books.

Pros and Cons:

Pro- FreeBitcoins.com’s centralized exchange allows you to make an AVAX market only using a single coin. This is good if you want to sell AVAX for Bitcoin and not necessarily buy AVAX in return. 

Pro- Pangolin Defi exchange requires that users provide liquidity on both sides of the books. This makes the books nice and “even” for buyers and sellers to have the liquidity to trade quickly. In addition, it’s straightforward to use for users.

Pro or Con- Pangolin requires you to diversify your coin portfolio. I’m not a fan, but a lot of people like to hold this and that. I get it!

Con- FreeBitcoins.com requires users who wish to play both sides of the book to use the exchanges API. The API is legit but isn’t for noobs and can be dangerous. (Our exchanges API can be found here: https://github.com/FreeBitcoins-com/docs.)

Centralized and Defi Exchange Fees

FreeBitcoins.com exchanges fees are 0.2%. 

FreeBitcoins offers an affiliate program that shares 50% of these fees for life with affiliates on all of their signups. 

**Once you deposit on FreeBitcoins.com, you only pay this fee until you choose to withdrawal your coins. Then you pay a network fee! This keeps the stress of the network and helps things run smoothly.**

Pangolin exchange fees are 0.3%.

There is no affiliate system on Pangolin that we are aware of.

**Every time you add liquidity or make a trade on Pangolin, you create multiple transactions on the Blockchain. These network costs are not a part of the 0.3% exchange fee. This is the reason Ethereum network fees are so crazy right now. The network is crazy stressed.**

Code and Owner Risk Comparison – Centralized VS Defi

There is a common misconception that Defi exchanges are trustless and intelligent contract tokens are trustless as well.

This is absolutely NOT true. Unfortunately, as users, we are still forced to trust individual(s) who wrote and maintained the contracts that both these exchanges and their tokens operate on.

Decentralized does NOT mean trustless.

Flaws in code are something that both Centralized Exchange and Defi exchanges are also at risk for. Still, the big difference is that Centralized Exchanges don’t make their code public as Defi exchanges do.

It’s best to have perfect code, but the best thing to do with code that isn’t perfect is to hide it.

A significant Defi exchange recently lost “$600 million” worth of cryptocurrency due to a very easy to execute flaw that some random dude found: https://www.cnbc.com/2021/08/11/over-600-million-dollars-was-stolen-in-a-massive-defi-hack.html

That being said… centralized exchanges have faced loss after loss in the cryptocurrency space since the beginning. Google “Bitcoin exchange hack” or “Bitcoin exchange theft,” and you’ll have weeks of entertaining reading!

Conclusion

There are advantages and disadvantages to everything in life. Choosing what is correct and most accessible for you can be difficult.

Avalanche and its Defi exchanges have a lot of delightful user-friendly tools using the Metamask browser wallet. Still, I think overall… a solid Bitcoin-based centralized exchange is going to be hard for Defi to beat long term.

Centralized exchanges provide easy-to-use platforms, traditional login methods, customer service, and the ability to add liquidity to the books using one coin at a time.