Swapzone: An introduction as well as working process.

Swapzone: An introduction as well as working process.


 

It has been a long journey in the Crypto industry, and I came across many technologies,exchanges ,coins ,forms of trading etc. This journey has been very inspiring to me, met a really very good bunch of guys, who passed the knowledge to me . Crypto industry has transformed this whole world to a global village. Transfer of money, transfer of knowledge (ie. Knowledge sharing), were never this easy. Who would have thought just by reading articles we could earn (Thanks to Publish0x and other crypto blogging sites). That’s enough drama written before I come to the main topic.

We guys from the crypto family come across many coins, exchanges on a daily basis. Some or our favorites (BTC, XRP, ETH..). We believe in some coins, their fundamentals , community , reliability, leaders etc.., So as, there are some exchanges that are our favorites, this list can also be favored according  to place of living , user interface , volume, different methods of tradings etc..

Now I would like to draw your attention to some real world situations that we face in the crypto industry.

Situation 1.  There are some situations when our favorite exchanges fails ie. some coins are not tradable on that . 

Situation 2.  We all are here to earn, didn’t we want value for our money. When we want to buy a product ,didn't we go and compare it to some shops and eCommerce sites before we buy?

What if we combine both situations and develop a process that fulfills both. Sounds amazing..

Someone is here for the rescue. Let's raise your hand and applause  SWAPZONE.IO .

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Swapzone is the cryptocurrency exchange aggregator which browses through services, compares exchange rates and swap cryptocurrency in just one interface. The crypto space is striving for transparency and usability, Swapzone is here to take the leap! . We all would have heard about changelly, changenow, coinswitch etc. and would have if not all at least used one of the services. Now what swapzone does is basically browse all such exchanges and provide you with the best list of rates from which you can choose your best pick. Also swapzone provides you rating on those exchanges as well as recommendation for best price , fixed rate etc.

swapzone offer

All these are done in order to enhance the user experience of exchanging coins. It's upon you which exchange you pick, also one thing worth mentioning is that swapzone provides you real time updates over the pricing.

Now coming on to technical part for some of my techie friends.

How does it work?

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Swapzone is aggregating the exchange offers for supported cryptocurrency pairs through API integration of partners. They are sending the user’s inquiries in, getting the deals directly from the services, sorting them out by the best rate, and gathering the data in their interface.

How exchange time is calculated?

To provide the most detailed information on the swap users are about to perform, swapzone have added an exchange time parameter for all of their partnering services. Here is the exchange time parameter for all of partnering exchanges

Asset(1)*X(confirmations)+ Asset(2)+ t(service)/n(service)

Now one thing that comes to mind is how they rate different exchanges.

It is very  important to provide right and correct details of exchanges to  the users . The service reviews are taken from trustpilot and from the feedbacks that swapzone collect from users on the last step of the exchange process .Then an average both is taken and the ratings are shown to users.

How swapzone receives the rate in real time from exchanges?

Swapzone  receives crypto exchange rates from the service providers directly. Currently, Swapzone has available offers of more than ten exchange partners and adding more to the list. If any one willing to add their platform to the list, can follow the integration guide. Here I am providing the link of the API integration https://swapzone.gitbook.io/developer/  

Now let's understand the process with an example.

I want to exchange BTC to ETH , Simply go to swapzone.io and input your both required coins . It will automatically search for available exchanges with best rates and display. Do pick your required exchange. I for the best experience choose the recommended one.

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ON the next page it shows as in image. You have to insert your ETH address where you want to receive your ETH and also in case of refund where you want to receive your BTC back. Also it displays the estimated time of arrival (ETA).

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Ok all set proceed to exchange.You will get the BTC address where you have to send the BTC in order to exchange. That's it go and send BTC to that address and within required time you will receive the ETH on your address. Simple isn't it . 

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Now before wrapping this ,for any extra information or support  feel free to contact their 24*7 support at support@swapzone.io


The Crypto Series
The Crypto Series

Its all about Crypto. I am a Crypto Enthusiast, a Computer Science Undergraduate , a nature lover, a GOD fearing , a DIY specialist, and sometimes Crazy.


Cryptocurrency exchange aggregator
Cryptocurrency exchange aggregator

Swapzone is a cryptocurrency exchange aggregator. Introduction and brief insight of its working process

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