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<p>Crypto swap vs exchange: is it the same thing? In essence, yes: you just exchange one coin for another in the crypto world.</p><blockquote><em>In more technical terms, a swap is an exchange/trade of crypto assets for their equivalent value in another coin/token, with both tokens based on the same blockchain.</em></blockquote><h2 id="header-0">Why is swap needed?</h2><p>The main purpose of swap is to simplify the transfer of tokens without having to carry out the traditional crypto-fiat-crypto process, which is both financially and time-consuming. In the second case, you will have to pay the fee twice, whereas with swap — only once.</p><p>The need for such a feature has become especially urgent as more and more projects and, consequently, new tokens tied to the projects have started to appear on the market. In fact, today there is already a large variety of cryptocurrencies, <a href="https://coinmarketcap.com/?page&#61;95" rel="noopener noreferrer nofollow">more than 9,000</a> to be exact. The swap function allows you to convert these coins into one another, just as you convert dollars into euros, for example.</p><h3 id="can-i-do-without-swap">Can I do without swap?</h3><p>Уou can, but it&#39;s not really efficient.</p><p>For example, you can convert one cryptocurrency to fiat currency and then use it to buy another cryptocurrency. This method also works, but it is considered time- and money-inefficient.</p><h2 id="header-1">How does it work?</h2><p>Here’s a case: you have ether, but you want to get bitcoin. Using the swap function you can exchange, for example, your 10 ETH to 0.34 BTC (the number is volatile) via a centralized exchange (CEX). The same process happens when you need to swap ethereum for bnb. If you use a decentralized exchange (DEX), the swap takes place using “wrapped tokens” (WBTC, for example).</p><p><strong>Curious fact</strong>: It is possible to swap tokens powered by different blockchains through some DEXs.</p><p>Or, for example, swapping Binance Coin (BNB) for MATIC (Polygon) in a crypto wallet looks like this:</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/30a4aea0201547c1b0b7f11a9d91cf2a.jpeg" /></p><h2 id="header-2">Where is it possible to use the swap function?</h2><p>The traditional option is centralized exchanges (CEXs). However, you do not have full control over your assets. The alternative is a decentralized exchange (DEX). However, while it gives you full control over your assets, it is inconvenient to use and often has low liquidity.</p><p>&#x1f4a1;You can read more about the <a href="https://oneart.digital/en/blog/crypto-wallets-vs-crypto-exchanges-which-is-better" rel="noopener noreferrer nofollow">difference between CEXs, DEXs, and crypto wallets</a><em>.</em></p><p>A popular option today is to swap through a non-custodial crypto wallet, as it is both safe and convenient. Plus, you have full control over your crypto funds.</p><p><strong>What are the advantages of using swap?</strong></p><p>✔ Fast exchange to the asset you want</p><p>✔ Quick transactions</p><p>✔ Diversity of your crypto portfolio with various cryptocurrencies</p><p>✔ Convenient, especially when using a cryptocurrency wallet</p><p>✔ Access to lesser-known cryptocurrencies.</p><h2 id="header-3">Follow official OneArt channels to find the latest info and updates:</h2><ul><li><a href="https://twitter.com/art_wallet" rel="noopener noreferrer nofollow">Twitter</a></li><li><a href="https://t.me/art_wallet" rel="noopener noreferrer nofollow">Telegram Group</a></li><li><a href="https://t.me/artwallet_official" rel="noopener noreferrer nofollow">Telegram Announcements</a></li><li><a href="https://coinmarketcap.com/community/profile/OneArt" rel="noopener noreferrer nofollow">CoinMarketCap Community</a></li><li><a href="https://www.linkedin.com/company/oneart/" rel="noopener noreferrer nofollow">LinkedIn</a></li></ul>

What is Crypto Swap?

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