Sirwin
Sirwin

Which Decentralized Exchange is the Best? The Swapzone.io Overview


When it comes to swapping coins there are many ways to do this and sometimes it may not be as easy or pleasurable as we like.  Especially when we are trying to get in or out fast, safely and efficiently.  This is a Swapzone overview. 

The two most popular ways to do this are the centralized exchanges such as Coinbase or Binance and decentralized exchanges such as Godex and ChangeAngel.  Some of us may be familiar with the two major centralized exchanges mentioned above and some of us may be comfortable with the services they provide.  However,  centralized exchanges have very limited choices and DeFi is all about choices.   

Speed.  This is one of the most important factors when it comes to swapping out coins.  Sometimes, needing to get into or out of a position can be unfavorable causing us to lose money or miss a pump.  No one really wants to wait while their money is on the line. 

KYC.  This is another big issue for some,  Centralized exchanges and centralized databases equals personal information possibly ending up in the wrong hands and takes away from your right as a human being.  One of the beautiful things about DeFi is not having a single point of failure and not having to rely on a central authority. 

The two types of non custodial services include decentralized exchanges and exchange aggregators.  These two services allow you to exchange anonymously and swap out coins at the best rates possible without having to upload all your personal information. 

Liquidity.  This is another major factor when using exchanges that SwapZone has seemed to address effectively.  On exchanges like Coinbase and Binance, they don't list every coin you may want.  Whether it's a privacy coin like Monero or a small cap gem like Tachyon your choices are super limited.a20f380dd14b7181671159fc47b5e00f5c4dd6072d8f8a810c98a7ea56711832.jpeg

SwapZone allows access to all partnered instant exchanges at once such as Changelly, ChangeNow, Godex and the list goes on.  This service is priceless as it simplifies all offerings served up fast and at times, discounted rates.  The other day I was curious as to how much I would save on SwapZone than I would on Binance.  So I logged into my Binance account and checked the offerings and I found that I was getting three extra coins and 5% discount by using the service that SwapZone provides.There was nothing more to think about with this 1c8a60fee2335d3eb1aa0d79ab1d76cf20b6de36e357e6fa2862f08753659ac8.jpegtransaction.  All the liquidity is here at SwapZone, BAT/LRC swap? No problem.  BAND/ADA swap? That too the list goes on.  If your are looking for an exchange pair no matter what it is, chances are its on SwapZone.  I find it funny when Binance or Coinbase announce on twitter their latest new trading pairs.  I guess its better late than never.   

Fees.  They kill profits.  I used to think, well, it's only 1 or 2%.  However, 1 or 2% over 2 decades can be anywhere around $400,000.  Paying 2% fees for 25 years eats up 40% of your profit and this is money that you can keep in your pocket or buy a house.  Do the math, these fees compound as your portfolio grows.  And fees for what?  Less secure, less choices, slower transactions at times and most of all not in your control?  So, should you consider a centralized exchange or one that really is in your best interest?  Choose wisely my friends. 

Security.  This is an issue that constantly raises questions and causes some to not be able to really benefit from all that DeFi really is.  Which exchange is the safest?  Every major centralized exchange will claim to be the best.  The truth is that custodial exchanges get hacked all the time, they could also close down and take your precious KMD or BTC with them.  With that being said, we saw 5 major hacks last year alone. The last time I checked Coinbase only insures accounts up to $250,000, which may be enough for the average hodler, but if you are Moby Dick and they get hacked.9b24b1d7dbd5b1acd4be19d0a1c1c710bc2bdba17601370ce082582e045c2d54.png

  Interacting with the blockchain was intended to be a game changing opportunity to gain financial freedom by lowering our need for third parties and banks that manage your funds.  So, DeFi is giving us this in various ways such as p2p money transfers, decentralized exchanges and yield farming.  These opportunities are here now and now is the time to be getting on this ship.  The custodial services limit your blockchain interaction and to your funds, similar to the way banks hold your money while giving you crumbs in the form of interest.  You may think its safe, but actually your money is safer on the blockchain and in your wallet especially a cold wallet like the Ledger.  Non custodial services dont store any of your data and allow you full control and access to your keys.  

SwapZone finds the fastest and best price offering available.

1) Upon arriving to SwapZone's platform, you will immediately notice a very simple setup and a beautiful user interface.

.2) There, you will see two drop down boxes, one for the crypto you are sending to be swapped and below that the crypto you want to receive.  You will also notice  a box for .the amount you wish to exchange.  You can also use filters such as fastest exchange, the best rate and the best rating.  There may be anywhere from 4-10 offers or more. 

3) You make your selection and proceed to the next step which will be sending the funds to the address they provide and then you will be prompted to supply a refund address just in case your offer doesnt go through. 

4) Out of atleast 90 transactions only one got rejected, but immediately went through the next attempt with a better rate.  This whole process happens right before your eyes in a very interesting way.  You see the funds arrive to the exchange and then you see the exchange of the funds and finally, the sending of the funds to your wallet.732d9d6926a744e854628828ab390d4126f84f3661501957fd976a14f2425e17.jpeg

In conclusion,  SwapZone has delivered an exceptional trading experience from start to finish while saving money on fees safely, secure and fast.  I am not a professional trader, but I do atleast 8 swaps a week and this is one of my favorites so far.

 

How do you rate this article?

16


bobby d!gital
bobby d!gital

I'm a developer and love all kinds of technology


A cryptocurrency journey ongoing
A cryptocurrency journey ongoing

A journey ongoing. Lets explore projects with great potential, whitepapers, protocols and the emerging DeFi trends and maximize this new era in finance.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.