Exchanging Tokens
Exchanging tokens is a very simple and quick process once you have deposited tokens into your Coin Wallet.
- 3.Swipe to the desired token card for exchanging
- 4.Tap the blue Exchange button
- 5.Enter the amount of tokens you would like to exchange
- 6.Tap the token asset you would like to exchange your token with
- 7.Tap the Checkmark to confirm your exchange request
To start, navigate to the card for the token you would like to exchange. If Coin Wallet detects tokens in your wallet, a blue exchange button will appear. From there, simply tap that button.
Enter the amount of tokens that you would like to exchange.
Tap the type of token you would like to exchange with.
Confirm your exchange request details including the desired network speed for execution.
Once confirmed, your tokens will be sent to a smart contract and await order matching and execution. Once executed, the requested return tokens will be exchanged back safely to your wallet for use.
Following your exchange request, you will receive a request confirmation in your wallet transaction history. Tap the record to expand and obtain the status of your request directly on the blockchain. Tokens are only exchanged when the status is updated to Confirmed.
- Coin Wallet currently has zero fees; however, will incur normal network fees for each blockchain. This includes failed (if sent to the smart contract) and successful exchanges. Current network / gas fees on $BTC and $ETH can be anywhere between $2-$100+ USD depending on network congestion and other variables.
- Your tokens are safely returned back to your wallet from the smart contract for all unsuccessful or unmatched orders (once 3 hours have elapsed) minus normal blockchain fees.
- Atomic swaps are executed on-chain and execute at the speed of the slowest chain. This means that $BTC exchanges will take > 15 minutes, and a few minutes if the swap is solely for ERC20 tokens.
- You must be online for the atomic swap to occur. Please leave your browser window open and connected to the Internet for the swap to occur.
Last modified 1yr ago