Exchanging cryptocurrency is one of the peculiar features of the technology. However, there are several reasons you might want to swap your crypto asset for another.
For example, you most likely see a profit opportunity in a token and want to seize it immediately, or you want to shield your portfolio from market volatility. Even though the terms are used interchangeably, swapping cryptocurrency is not the same as trading. So, what is crypto swapping?
What is Crypto Swapping?
Crypto swapping is the process of directly and conveniently exchanging crypto assets for their equivalent value in another coin or token without the need for a crypto-to-fiat exchange. Crypto swapping is a more straightforward method that lets you instantly obtain the coin you desire. In addition, there is no need for a market pair or transaction fees, so its process is seamless and offers flexibility.
In other words, swapping allows you to use seamless crypto-to-crypto exchange services instead of the frequently expensive and time-consuming process of converting your crypto asset to fiat before using the fiat to buy your desired token.
As previously stated, there are a variety of reasons why you might want to make a change.
For example, if you get paid in Bitcoin for your work, and given the volatility of the digital asset, you would want to achieve price stability by exchanging it for a stablecoin, in this case, USDT.
Although token swaps are more common on decentralized exchanges, they have a disadvantage in that, in this case, you'll need to find someone who needs the Bitcoin you have to exchange for the USDT you desire, making the exchange a peer-to-peer trade.
On the other hand, if you decide to exchange your Bitcoin on centralized exchanges, you will have to undergo a complicated registration process that requires KYC verification, which in some cases, will take several days to complete. In addition, the value of your Bitcoin may decrease in the process. And sometimes, you get confused with the complicated interface of the exchanges, where you have to deal with reading the charts, indicators, and other elements.
Furthermore, swapping eliminates the need for two-step trading if you have a less popular token. As a result, swapping executes these conversions at little or no cost rather than converting your token to fiat or a popular token, which incurs additional fees for withdrawal and transaction.
Why Should You Swap Your Crypto?
Swapping protects you against asset price fluctuations caused by market volatility. When you diversify your portfolio across different tokens, you protect yourself from the impact of price drops.
The goal of cryptocurrency trading or investing is to make money. With crypto swapping, you can quickly capitalize on an asset price change and profit from the rise. Because there are no transaction fees when swapping, you can make significant gains if you time the market correctly.
Platforms With Token Swapping
Several exchanges (custodians and non-custodian) are beginning to have swap functionality on their platforms to convert a crypto asset for another directly. As a result, these platforms provide a convenient and secure crypto-to-crypto gateway. However, to use most of these platforms, you will need to transfer your asset to the swapping exchange before accessing the feature, which can be a tedious process, and sometimes lead to asset loss.
Easy Crypto Swap With Cwallet
Unlike most custodian wallets, where you have to complete a KYC verification process before accessing their features, Cwallet grants instant access to the swap features by connecting your social platforms.
Cwallet is an interactive crypto wallet that can be used with your social media platforms. It has numerous features, such as storing your coins, swapping, tipping, airdrops, and earning money on the go while also supporting the crypto-economy via social networking.
Using the swap features on Cwallet, the platform provides;
- Liquidity to ensure the instant swap
- Eliminate the two-steps trade process
- Zero transaction fees on any chain swap
- User-friendly interface to efficiently execute the swap process
The fact that you don't have to exert additional effort to convert your token into fiat or any other popular crypto asset is one of the best things about swapping on Cwallet. Additionally, you are not required to pay double fees, and Cwallet does not charge fees but splits commissions with exchange providers.
How To Swap On Cwallet
The swap process will be executed at no cost.
Here's a step-by-step process to swap your crypto on the Cwallet.
Cwallet Swap does not charge fees but shares the commissions with exchange providers. Thus, you will never pay more than you would directly for the integrated services. All exchange fees are included in the swap rate you see.
The best part is that it is simple to use, quick, and completely FREE!
Cwallet: The Only Multi-Functional Crypto Wallet You Need!
Cwallet Is A Unique Cryptocurrency Wallet That Combines Custodial And Non-Custodial Features. You Can Manage And Trade More Than 800 Cryptocurrencies In One Location With The Help Of This Integrated On-Chain And Off-Chain Wallet, Which Offers Security, Simplicity, And Flexibility.
The Cwallet Provides Complex Crypto Needs Of Individuals Or Businesses Through Various Tools Like The Tip Code, Airdrop Game, Giveaway Tool, Mobile Refills, Bulk Payment, Request Invoice, Payment Button, Etc. It Is More Than Just A Cryptocurrency Wallet Where Users Can Send, Receive, Buy, Sell, Or Hold And Swap.
Cwallet Does Not Charge Any Deposits, Withdrawals, And Token Swap Fees. Therefore, Using Cwallet Is Absolutely FREE!
So, What Are You Waiting For?
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