OneArt

<p><strong>Excerpt:</strong></p><blockquote>Learn about slippage in crypto, how it happens, and how to adjust it in OneArt wallet.<br /><br />You were going to <a href="https://oneart.digital/en/blog/what-is-swap-in-crypto" rel="noopener noreferrer nofollow">swap tokens</a> at one price, but at the time of the transaction, it changed. Moreover, it’s changing all the time — every 5-10 seconds! Sounds familiar? If you’re not new to crypto, you must have already heard about slippage. It seems to be an inevitable companion of crypto space, but actually, you can influence it to some extent. Let’s learn how.</blockquote><h2 id="header-0"><strong>What is crypto slippage?</strong></h2><p>Slippage refers to the difference in prices when you submit a transaction and when it is confirmed.</p><p>Let’s say you want to swap some <a href="https://oneart.digital/en/blog/avalanche-explained-how-does-it-work-is-it-a-breakthrough#what-is-avax" rel="noopener noreferrer nofollow">AVAX</a> for 1ART.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/df59dde8d6934bb1aca540c0a5d3029b.png" /></p><p>The last numbers in the price keep changing slightly. So, you’re experiencing an insignificant slippage that might cost you a few cents. But if a larger amount of assets is at stake, the loss might be more tangible.</p><h2 id="header-1"><strong>Why does it happen?</strong></h2><ul><li>Market volatility</li></ul><p>Cryptocurrency markets are known for their high volatility, which means prices can drop and skyrocket rapidly and unpredictably. If the market moves quickly in the opposite direction of your order, you will experience slippage.</p><ul><li>Low liquidity</li></ul><p>If there are not enough buyers or sellers, it can lead to low liquidity.</p><ul><li>Latency</li></ul><p>Crypto exchanges operate on a decentralized network, and order execution may be delayed due to network congestion, slow processing times, or server downtime. This delay can also result in slippage if the market moves against your order during the latency period.</p><blockquote><a href="https://oneart.digital/en/blog/dexs-vs-cexs-which-to-choose" rel="noopener noreferrer nofollow">https://oneart.digital/en/blog/dexs-vs-cexs-which-to-choose</a></blockquote><ul><li>Order size</li></ul><p>Larger orders can be more difficult to execute at the chosen price because they may require multiple transactions to fill. The market reacts to each individual transaction and might result in crypto slippage.</p><h2 id="header-2"><strong>What is slippage tolerance?</strong></h2><p>It is the maximum price difference that you accept. For instance, a slippage tolerance for a trade of 1 bitcoin may be set at 1%. It means you’re ok with a deviation of up to $500 if the BTC price is $50,000.</p><p>Setting a slippage tolerance is important because it helps manage the risk of price fluctuations in volatile markets.</p><h2 id="header-3"><strong>How to adjust slippage in your OneArt wallet?</strong></h2><ol><li>Select the network, tokens, and their amount to swap.</li><li>Tap the ‘Max slippage’ button and choose the option you need. You can set custom slippage.</li><li>Don’t make it too low because the transaction may be reverted.</li></ol><blockquote>For a step-by-step guide, check out our video:<br /><a href="https://youtu.be/G7I3AhkZFWo" rel="noopener noreferrer nofollow">https://youtu.be/G7I3AhkZFWo</a></blockquote><h2 id="header-4"><strong>Swap tokens in OneArt with 0 additional fees</strong></h2><p>Not so long ago we added this feature to OneArt, and now our Android users can swap tokens easily.</p><blockquote><a href="https://oneart.digital/en/blog/introducing-oneart-token-swap" rel="noopener noreferrer nofollow">https://oneart.digital/en/blog/introducing-oneart-token-swap</a></blockquote><h3 id="what-are-the-pros">What are the pros?</h3><ul><li>Support for five blockchains</li><li>1inch protocol integration to offer your the most beneficial rates</li><li>Easy and smooth swaps due to multiple liquidity sources.</li></ul><p>More protocols and blockchains will be added later, so stay tuned for updates!<br /><br />Follow official OneArt channels to find the latest info and updates:</p><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://www.linkedin.com/company/oneart/" rel="noopener noreferrer nofollow">LinkedIn</a></li><li><a href="https://www.youtube.com/&#64;oneart5089" rel="noopener noreferrer nofollow">YouTube</a><br /><br /></li></ul>

What Is Slippage in Crypto & How to Adjust It in Your Wallet

Inhoudsopgave

OneArt

Andere artikelen gepubliceerd op 14 mrt. 2023

Meet Another-1: Where Physical Meets Digital Fashion Products

Green Travel: How Boxa Travel and Blockchain Technology are Leading the Way for Sustainable Tourism

The Conceal Network and the Current State of Crypto

CZ Zhao Announces Conversion of Binance Recovery Fund to Crypto

The First DEX PonytaSwap Is Released on Rangers Protocol

Nissan Drives Innovation With 4 New Web3 Trademarks And Metaverse Sales Trial

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!