Swap

What is a swap?

Swap facilitates the instant exchange of two non-native tokens between two unique blockchain protocols without the need of commencing the traditional crypto-to-fiat exchange or token migration. It allows users to swap tokens directly from the official private key wallet or trading account. In-wallet exchange offers multiple benefits for the traders, such as non-custodial trading, on-chain exchange, faster transactions, and zero network fees.

Other reasons to use swap technology :

• Quickly swap to the growing asset.

• Shift to any Stablecoin from a volatile asset.

• Hedge against risks.

Swap facilitates seamless crypto-to-crypto exchange with no intermediates involved in the process. Users do not need to adopt the traditional approach of converting native currencies to fiat and then buying the desired crypto. Converting tokens to fiat currencies is time-consuming and demands high from the users.

Taking note of these concerns, exchanges, wallets, and other blockchain-oriented trading platforms began offering the swap facility. Using a swap-enabled exchange platform, one can exchange any native token for a non-native token directly from the official crypto wallet. The swap requires users to add the total amount for which exchange is to be done and the desired trading pair, and this information is enough to perform swaps and exchange tokens from a different blockchain.

In a nutshell, swapping services provides users with simple, fast, affordable, and secure token or digital asset exchanges. Some even enhance their utility to offer cross-chain swaps.