Switching between coins in a pre-swap era involved selling one token for fiat and then buying another token for fiat extracted from the previous transaction. Who thought swaps would make jumping between coins so convenient, pocket-friendly, and time-saving that it would render the traditional method inefficient and obsolete?
As the cryptosphere expands and more coins join the action, the popularity of crypto swap exchanges will increase. With white label crypto exchange development solutions, businesses that believe in the future prosperity of crypto markets can tap into the trend.
Remember, “exchange” and “swaps” are used interchangeably but are two different terms. The former defines a usually centralized trading platform with high liquidity, a more sophisticated trading environment, and more features, imposing high fees for crypto-to-crypto or crypto-to-fiat transactions. Swaps, on the other hand, are less liquid but more convenient, cost-effective, and straightforward for users to operate.