Introducing CoinEx Swap: Swap Token Without Placing Orders
In today’s crypto market, investors swap their crypto holding for different cryptocurrencies primarily through: 1) spot trading on CEXes; 2) on-chain asset swap on DEXes; 3) cross-chain bridges on the market.
In particular, DEXes, which come with a higher threshold, are less beginner-friendly. Moreover, on-chain swap through a DEX is limited by factors such as liquidity and slippage. Generally speaking, mainstream cryptos have relatively strong liquidity, and the slippage tends to be low. In addition, transaction delays are rare. Less adopted cryptocurrencies, on the other hand, may feature a high slippage, and it may take a long period for transactions to complete.
Cross-chain bridges help users swap assets across different chains, for instance, swapping Chain A’s Asset B into Chain C’s Asset D. As the demand for on-chain transactions increases, the funds entrusted to cross-chain bridges are also on the rise, making them one of the favorite targets of hackers. As a result, cross-chain bridges have seen frequent security breaches.
In contrast, spot trading on centralized trading platforms is now the easiest and fastest way to swap your crypto assets. It is also the choice of the majority of crypto adopters to swap their assets. However, as spot trading requires pending orders, you may find it hard to get the target crypto in real time at a stable or acceptable price when swapping assets on CEXes. As such, better asset swap functions on CEXes have become a pressing demand among crypto traders.
To improve your transaction efficiency and trading experience, CoinEx has released the “Swap” function on both Web and App on March 23, 2022 (UTC).
CoinEx Swap helps users swap between different assets with just a few clicks. With the real-time price automatically generated by the system, users can swap their selected crypto for the target crypto with one click/simply and securely. The swap is settled by the spot account without worries about pending orders and transaction fees. CoinEx Swap is supported for most assets listed.
You can find this new function on the CoinEx website and its App to experience one-click swap (see below).
- Log in to CoinEx website, and click “Trade” — “Swap” on the navigation bar.
- Log in to CoinEx website, and click “Assets” — “Spot” — “Swap”.
Log in to the CoinEx App, and tap “Swap” on “Home” page.
It is noteworthy that the swapped price (spot) will be calculated by the system based on the current market depth, and the final amount is subject to the actual transaction. Moreover, there are no additional fees for swapping, and only transaction fees will be charged. The swap fee rate is the same as the Taker’s fee rate in spot trading. Additionally, CET Deduction is supported and the actual charge shall prevail.
Meanwhile, the minimum limit for a single swap is 1 USD worth of the selected asset. The minimum and maximum limits for each asset may vary. Please refer to the transaction page for the specific limit.
CoinEx Swap allows you to swap between different cryptos with a few simple clicks without placing an order. The function not only meets the demand for asset swap but also shows that CoinEx remains committed to product optimization and service upgrades, providing users with trading experiences that are more considerate, well-rounded, and convenient.