We will discuss about crypto swaps and particularly Atomic Swaps, a new way to do cryto swaps today. What is the downside to an atomic swap? Atomic swap trades are limited by liquidity. This means that without an exchange platform it can be difficult for traders to communicate and exchange cryptocurrencies. However, recent developments with atomic swap technology have resulted in the prolific increase in decentralized exchanges. Decentralized exchanges are combatting this issue through matching orders between traders using atomic swaps.
Embrace volatility – Cryptocurrencies are famously volatile. The price of Bitcoin, for example, went from $3,000 down to $2,000 and then leapt up to nearly $5,000, all within three months in 2017. Whilst this means risk is high, it also means the potential for profit is great too. It’s always sensible to check the volatility of the exchange you decide to go with. Understand blockchain – You don’t need to understand the technical complexities, but a basic understanding will help you respond to news and announcements that may help you predict future price movements. It is essentially a continuously growing list of secure records (blocks). Cryptography secures the interactions and then stores them publicly. They serve as a public ledger, cutting out intermediaries such as banks.
The breakthrough in atomic swap research happened around May 2013, when TIer Nolan provided the first full account of a procedure for atomic swaps. Tier Nolan is widely credited as the inventor of atomic swaps. In this guide, we are going to look into how atomic swaps work and the advantages that they are going to bring into the ecosystem. Problems With Centralized Exchanges: Suppose Alexandra has Bitcoin and wants to sell them for Litecoin. Similarly, we have John who has Litecoin but wants some Bitcoin instead. Normally what would have happened is that both of them would have had to go a centralized exchange, sell their cryptos and buy newer cryptos. However, there are a lot of problems with these exchanges. See additional info at Swap Crypto.
Changelly is one of the best-known platforms, delivering a fixed-rate mechanism that protects against the risk of market fluctuations when tokens are being swapped. Changelly claims the stability is assured by integrating a small reserve inside the exchange rate when the final quote is given to the user. This month, the platform launched an iOS app as well as a second version of its Android app, making it even easier for users to convert coins on the go. Another very good choice is Atomiic.io.
The Atomiic.io team is glad to welcome you at our service. We have done the process of cryptocurrency exchange simple, safe and comfortable. Our customers don’t need to create accounts or store their funds at Atomiic.io. We offer swaps of more than 300 cryptocurrencies. Our team is always glad to add new coins to the Atomiic.io list of currencies and is looking for new partners to make our platform even better. Visit: https://atomiic.io/.
