Experienced Crypto-Veteran Tries Swapspace
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Experienced Crypto-Veteran Tries Swapspace

By who8mypnuts | fractalchemist | 22 Jul 2021


I've been using cryptocurrency since 2013, primarily as a way to sell my artwork to an international market, but also programming bots and checking out new exchanges as they pop up. So, when I learned about Swapspace, my curiosity was peaked! I'm always looking for new, account-less exchanges. What follows is my experience with my first three transactions on Swapspace and what I've learned from them. To keep things consistent, each test was performed with the Metamask wallet and Vivaldi browser.

Transaction 1: ETH → BNB-BSC

I've seen numerous articles on the Binance Smart Chain along with Pancake Swap and have been itching to give it a go. Swapspace presented me with the perfect opportunity to convert some Ethereum over to BNB and give it a try.

The initial selector page is very smooth and allows you to quickly search for the proper currency to convert. I liked that it wasn't laggy like some other DeFi exchanges I've used in the past. It was simple to choose between the exchanges and see what the best rates were. After deciding on StealthEx as the exchange partner, I commenced the trade. The ETH was off and confirmed within nine seconds. Only another 4 minutes for Swapspace to register the transaction and another minute for StealthEx to get the BNB-BSC to me. Tremendous speeds!

Now I was left wondering, is this a fluke? Could it really be this fast for all transactions? Let's try a token and find out.

 

Transaction 2: DAI → BNB-BSC

Transacting for DAI started just as easy as my initial ETH transaction. However, I soon ran into issues getting the actual transaction to confirm. I blame this on Metamask and not on Swapspace. Four total attempts failed with "out of gas" errors. A waste of time and funds, no matter how small. Finally, the fifth transaction went through when I hiked the gas price up from 23,000 to 78,000. StealthEx again gave me the best exchange rate and within minutes provided the funds to my BSC address. Overall, not bad at all.

 

Transaction 3: BAT → BNB-BSC

Let's keep things consistent and try another token for BNB. As with the previous two transactions, Swapspace is a dream to work with. Metamask, on the other hand, is a royal pain. Out of gas errors again with BAT. This time, rather than fuss with gas issues, I cranked up the amount and pushed the transaction through the second time. I chose ChangeNOW this time around, partly because it would be good to test another exchange and partly because StealthEx didn't offer me the swap. It is interesting to note that the first two transactions told me it would take between 15 and 20 minutes for the exchange to complete with StealthEx, but for ChangeNOW Swapspace said to expect a minimum of an hour. This surprised me that any exchange might take this long to settle.

The BAT I sent confirmed almost immediately, within seconds. However, the actual exchange did take longer than the first two transactions and left me waiting about 30 minutes. Not bad, I went and had a workout while waiting.

 

Overall Impressions

I feel that Swapspace handled each transaction very well. I moved a decent amount of ETH (1.5) and DAI through the exchange with effortless ease. The amounts for each transaction I did were "floating" estimates, and each time came very close, if not exact, to the stated estimates. The design of Swapspace's site is intuitive and straightforward to follow along. Overall, I will continue using the site in its current incarnation (let's hope they don't change a good thing) and recommend it for quick and easy exchanges.

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who8mypnuts
who8mypnuts

I like cryptocurrency. Amazing fractal art for crypto at https://fineart.stanragets.com


fractalchemist
fractalchemist

A fractal artist does crypto!

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