Question 1

What is the primary use case of MOVE?

Accepted Answer

MOVE is primarily used in DeFi applications, facilitating fast and cost-effective transactions on the Ethereum blockchain.

Question 2

Why is DOT considered a key player in blockchain interoperability?

Accepted Answer

DOT enables cross-chain communication, allowing different blockchains to interact and share data securely, making it essential for building scalable decentralized ecosystems.

Question 3

Can I stake MOVE or DOT?

Accepted Answer

While MOVE is not typically staked, DOT can be staked to secure the Polkadot network and earn rewards for participating in its consensus mechanism.

Question 4

How does trading MOVE for DOT benefit users?

Accepted Answer

Trading MOVE for DOT allows users to diversify their portfolio, leveraging MOVE's DeFi capabilities and DOT's cross-chain interoperability for broader blockchain utility.

Question 5

Do I need KYC to use Instaswap? How are transactions secured?

Accepted Answer

No, Instaswap does not require KYC (Know Your Customer) for any swap amount or pair. However, we employ an advanced KYT system powered by a trusted third-party partner. This system automatically checks wallet addresses involved in transactions, ensuring they haven’t previously been flagged for illicit activities, keeping your swaps safe, secure, and private.

Question 6

Is Instaswap decentralized? Does it support centralized (CEX) swaps?

Accepted Answer

Yes, Instaswap is fully decentralized (DEX), meaning all transactions occur directly on the blockchain without centralized intermediaries. We do NOT offer centralized exchange (CEX) swaps, and your funds always remain fully under your control through our non-custodial platform.

Swap MOVE (Ethereum) to DOT (Polkadot)

Description

Frequently Asked Questions