Trading cryptocurrency assets requires you to sell an asset and then buy the one you want. But, this is time consuming and expensive due to platform fees and price changes. Luckily, there is a simpler way called swapping.
Swapping is simply exchanging your current asset for a different one. You do it when there is another asset with more potential in the market. This means, by swapping, you can adjust your investment. Then, you can invest in an asset that offers better growth opportunities.
Best of all, it’s very easy to swap crypto on WALBI. But before doing that, here’s some more info on how swapping cryptocurrency works.
What is swapping cryptocurrency?
Swapping is a process to exchange one cryptocurrency without having to convert it to fiat currency first. You can do this through a decentralized exchange platform like WALBI. The main goal of swapping cryptocurrency is to allow for seamless and fluid transactions.
It helps you diversify your portfolio, own specific tokens, or leverage on new growth opportunities.
Suggested reading: Meet WALBI - The Future of Web3 Crypto Platforms
Key facts to know before you swap crypto
- You need to choose the tokens you want to exchange before swap cryptocurrencies.
- The swap happens based on the current exchange rate between two assets.
- This rate depends on how much people want to buy or sell each cryptocurrency.
- Swapping gets rid of middlemen or traditional banks.
- It gives you more control over your assets.
- Most importantly, it can reduce transaction costs.
Is swapping better than trading?
When trying to exchange crypto, you will find two popular methods:
- crypto swapping
- and crypto trading.
These methods have different approaches and purposes. But which one is better? Hopefully, this list will help you see why swapping might be better than trading.
- You exchange one cryptocurrency for another without using a third currency.
- It's used to diversify your portfolio or explore new investment opportunities.
- Swapping is quick and straightforward, skipping the need to convert to regular money.
- There may be fees involved, such as network transaction fees or exchange fees.
- You can do swapping through decentralized exchanges (DEXs) or swap services.
- You buy and sell cryptocurrencies on exchanges or trading platforms.
- Trading is speculation on the market with the aim of profiting from price changes.
- It requires knowledge of trading concepts, technical analysis, and risk management.
- Trading can be more complex and time-consuming compared to swapping.
- There are various trading strategies and you need to understand how the market works.
- Trading offers the potential for higher profits, but it also carries higher risks.
- You can use advanced features like margin trading, stop-loss orders, and leverage.
If you're looking for simple exchanges between cryptocurrencies, crypto swapping is more suitable. But, if you're interested in trading and speculating on price movements for potential profits, crypto trading is more advanced
How to swap crypto?
Now that you know the difference between swapping crypto and crypto trading, here’s how to swap crypto.
- Choose an app with swapping capabilities - like WALBI
- Deposit cryptocurrency to your WALBI wallet
- Tap the “Swap” feature on the app
- Choose which two coins you want to swap (e.g. BTC to ETH)
- Complete the swap
- Check your wallet to make sure your swap went through
Congratulations. You’ve effectively swapped cryptocurrency in seconds. WALBI uses the best real-time exchange rates to ensure you’re getting the most accurate swap rates possible.
Benefits of swapping crypto on WALBI
WALBI is not your typical CeFi or DeFi platform. WALBI uses integrated AI solutions to enhance
- Liquidity management
- Fraud detection
- Market analysis
- And trading algorithms.
Furthermore, WALBI prioritizes security, privacy and transparency to ensure client funds and data are kept far away from fraudulent activity.
WALBI swap allows you to swap crypto, fiat and stablecoins with real-time execution prices and low fees. Buy, sell or swap all major assets with one of the most intelligent Web3 apps on the market.
The market moves fast, and so should you! WALBI Swap gives you instant transactions so you can swap and earn quickly and easily, all in one place.