FinTech

What is it for and how is the CoinEx swap tool used

At the Blockchain Summit Latam 2022 event, Kevin Salazar, as a representative of CoinEx, told us about the swap tool offered by the exchange, and today we want to teach you how to use it.

CoinEx is currently one of the fastest growing cryptocurrency exchanges in Latin America, thanks to the excellent support they offer for Spanish-speaking users, intuitive trading platforms, and a wide variety of products

What is the CoinEx swap?

In that wide range of products we find the swap tool, which can really make the process of buying cryptocurrencies much easier for you.

Swap literally translates as exchange, so with that you can already get an idea of what this product is for.

With this tool you will be able to make purchases and sales of cryptocurrencies without any intermediary.

It works thanks to a liquidity pool created by the users themselves, in which, by the way, you can also make a profit if you provide liquidity.

The funds deposited by users are available 24/7 so that anyone who requests it can make a cryptocurrency exchange.

How to use the swap?

It is extremely simple to use this tool to buy cryptocurrencies.

The first thing you have to do is open the swap. Below I leave the link.

Then, you will have to deposit funds. You can do this by clicking on the Deposit button that I highlight in the image below.

This is what the CoinEx swap tool looks like. Click the Deposit button to add funds to the account

There are a wide variety of currencies with which you can add funds to your account.

Deposit funds on CoinEx.
Deposit funds on CoinEx.

Once you have deposited cryptocurrencies to your account, you can make your first swap.

  • Choose the currency you are going to sell, and below, the one you want to buy.
  • Enter the amount to be sold, and click the swap button.

Simpler, impossible.

This is how the CoinEx swap tool works.
This is how the CoinEx swap tool works.

Advantages of using this service

As Kevin pointed out during his presentation at the BSL 2022, these types of products, built on community suggestions, increase the speed of adoption of cryptocurrencies.

Undoubtedly, the biggest advantage of the CoinEx swap is its ease of use, and that is what users mainly demand.

These are other important advantages:

  • This tool allows any combination of cryptocurrencies.
  • You can make trades in seconds without the need for intermediaries.
  • It is available 24/7.
  • If you already have funds on the CoinEx exchange, when making a swap, the coin sold is deducted directly from your spot balance, and the exchanged amount is also deposited into the same account.