This month Publish0x has been featuring a new exchange aggregator called SwapSpace, and after giving it a try I must say I like it for being able to trade for uncommon cryptocurrencies that might be hard to trade based on what exchanges you have access to or charge high fees to withdraw from their wallets (looking at you, ProBit). For the example below I decided to trade some USDC for a token I've talked about previously, NEXO.

For those unfamiliar with Nexo and their native token, NEXO's main purpose is as a staking asset that allows the holder access to both better lending rates when borrowing as well as higher interest rates for their savings depending on the ratio of NEXO being held and the value of other cryptos in the holder's savings wallets. With NEXO still sitting at a discount since the market crashed in May and my account only needed a small boost to reach the top level of rates I decided to try out SwapSpace and see how easy it was to obtain some NEXO.

To begin with we can head to SwapSpace's main page (you can use my link here), and select which coins you want to swap between. SwapSpace offers 450 different cryptos to choose from so its pretty likely you'll be able to trade for what you want. Here we're trading USDC to NEXO.

Once "View Offers" is selected, we're presented with a list of different exchange services, their going rate of exchange for the pair you put in, and their Trustpilot score. SwapSpace offers both Floating rate and Fixed rate exchanges to choose from, which have their benefits and drawbacks. If a trading pair has a history of high volatility you may wish to try fixed rate exchanges to ensure you get the amount you're expecting. In the example above we're going to go with our best rate offer of 66.932 NEXO for 100 USDC. At the time of this exchange NEXO was running at $1.46 so for our exchange we're looking at only ~$2.28 in fees.

Once we've settled on the exchange we wish to use, SwapSpace will ask for two address. The first will be for where you want the token you're trading for, in this case the NEXO, will be deposited. The second address is to refund the token you're using to pay for the trade in case the exchange doesn't go through. This address is VERY important when paying with funds out of a centralized service like Coinbase or Nexo as the address the network sees your payment coming out for this transaction will likely be a generic account. Without the specific wallet address that belongs to your account on that service, any reversal of the transaction runs the risk of failing and your coins disappearing for good.

With our addresses entered in, we now transfer our payment to address provided and wait. You'll have an hour to send in the funds or the transaction will auto cancel, which should be plenty of time even on the slowest of networks.

SwapSpace will confirm when your payment has been received, and about 15 or so minutes later you should receive a notice that the transaction has been completed as well as the transaction hashes use can use to confirm everything that processed correctly.

Overall I found SwapSpace to be very easy to use, and considering I paid less than 2.3% to cover both transaction and gas fees for a token that isn't as commonly available as some others I plan on taking advantage of it whenever I'm looking to swap tokens that I might otherwise have a problem efficiently exchanging on other services. With 450 different cryptocurrencies available there's a good chance you'll find a pairing that works for your needs.

I recommend giving SwapSpace a try and see how it's recommendations compare to the services you normally use for your swaps. You can use the link here or go to swapspace.co for more information.