What are cryptocurrency swaps?

Cryptocurrency swaps are a business alternative that allows exchanges between various crypto assets with great speed and ease.

This conversion is distinguished by its execution via interfaces that inform the user with great simplicity about the qualification offered by the platform in terms of liquidity and the rate change proposed to perform conversions between certain countries of cryptographic assets.

Dynamic Swaps

Unlike person-to-person (P2P) marketplaces, transactions of this type are necessary for the user to interact with other people through a commercial chat.

At this point, the swaps take place on platforms that reflect the assembly of payment from the source currency as well as the assembly of the destination currency that is offered in the exchange.

This information, visible to the user before making the payment, is accompanied by a price that remains valid for a limited time.

During an exchange, the platforms that offer this service tell the customer which addresses to send the payment to in case they agree with the price and the conversion fee.

On the other hand, you are also asked for an address to receive the exchange product (the selected asset) as well as an address to which a refund will be sent if the transaction is not successful.

The platforms that offer this functionality stand out for being among the simplest business alternatives for trading between cryptocurrencies and tokens. These platforms greatly facilitate the user experience for less experienced users and allow a trading option that requires few steps and complex procedures.

Are swaps for me?

The advantages offered by swaps over other crypto-crypto exchange alternatives relate to their simplicity and convenience. To convert via this method, you do not need to keep the funds deposited on the trading platform.

Instead, just access it, specify the amount to convert, scan the QR code with your wallet, and send the payment. This dynamic is optimal for those who prefer to keep their cryptocurrency safe.

Additionally, it allows you to make quick changes between various crypto assets without waiting several minutes for your balance to be accredited in an exchange, which typically requires multiple confirmations to enable the sale with the deposited funds.

Do you want to learn how to carry out these types of transactions and all those related to the world of cryptocurrency finance? At MégaAcadémie, we provide you with all the information you need to make smart investments and trades.

Sign up for our Basic Cryptocurrency Course and learn from the experts all the tips and advice on how to become a successful crypto-investor.

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