Instant TokenSwapCryptocurrency, a medium to transfer funds within seconds to other individuals worldwide with near-zero additional charges. One of its many features is its decentralized nature, not been own by any entity or governmental organization made it grew rapidly as compared to other mediums of exchanges the world had experienced.
Bitcoin the most popular cryptocurrency known today was the first but definitely not the last, over the years, other types of cryptocurrencies have been developed, some offering the same feature as bitcoin and others taking the usage a notch above.
With the never-ending development of different types of cryptocurrencies, a medium of exchanging these cryptocurrencies was needed, if you recall trade by barter, individuals had to move a long mile to get other individuals who needed what they have and willing to trade for something they needed, this probably would have been the case if exchanges were not available.
Exchanges are platforms which allow individuals to create price for a particular cryptocurrency with the goal of other users finding them okay at that point in time, they are further divided into decentralized and centralized, with the centralized having majority of control of what happens within their organization, meaning users have to agree with their terms and services before they are granted access to these exchanges. While decentralized is an open market for all to trade.
Centralized exchanges put the well-being of their customers first but there is this cryptocurrency phrase
Centralized exchanges can stop you from using their services or temporarily pause all their services if they discover activities that go against their terms of usage, if you had any fund on them at that moment, your access to these funds will be limited as well.
One might consider decentralized exchange the next big alternative to this but then the issue of usage comes into play. Most decentralize exchanges are difficult to access and when it comes to trading, it becomes almost impossible for a complete newbie to use which is kind of a back-set when you are preaching or explaining cryptocurrency to your peers.
Cryptocurrency, as many take it today is center on finance and the need to move from one cryptocurrency to another within seconds is definitely a game-changer and that is where TokenPocket swap feature comes into play.
A platform where users are able to swap within cryptocurrencies is definitely a dream come through and the best part, users can easily save these swapped cryptocurrencies via the multiple wallet feature available on TokenPocket.
Low exchange price? TokenPocket swap feature uses the best price collected from more than 30 different exchanges.
Download TokenPocket . If you already have it installed, you can skip this process and move to the next.
Launch the TokenPocket app on your device.
TokenPocket supports multiple cryptocurrencies, click on the desired cryptocurrency you would like to swap
Click on the swap icon located top-right on the TokenPocket app
A new page will be open to you with 5 different features, some already pre-set and others require you to edit and confirm. These features are,
The default cryptocurrency needed for the swap
The receiving or swapped cryptocurrency
Balance
Receive address
Reference rate
Default Crypto
A list of supported cryptocurrencies that can be swapped via TokenPocket is shown here, USDT, BTC, EOS, ETH, TRX, BNB, and amongst many others.
Select your desired cryptocurrency
Click the cryptocurrency you would like to swap from the drop-down menu.
Receiving or Swapped Crypto
Click the receiving crypto you would like the default crypto to be swapped to or exchanged to. Just like the above, the numbers of supported crypto is much and the list is likely to change with future updates.
Balance
If you are new to the concept of cryptocurrency, you probably made some transactions prior to now and found out you lost more funds to transaction fees than you expected. TokenPocket created a minimum allowable amount of cryptocurrency allowed per swap thereby creating an atmosphere that allows its users to get the best deal when using the swap feature.
Alongside the converted rate after swapping in respect to the swapped cryptocurrency is shown to you
Receive Address
This is one of the most important features when it comes to cryptocurrency in general, a cryptocurrency wallet address, users are advised to ensure that the receiving address is properly copied before making any transaction. Transactions made on the blockchain are irreversible and once initiated, it’s a done deal.
Reference Rate
As mentioned above, the best price from more than 30 different exchanges is used to draw the reference rate during swapping. The price for swapping In real-time is shown to users whenever they initiate this swap process.
Why should I use TokenPocket Swap feature?
Swap/exchange of cryptocurrency is done within seconds
Best price available is used and save you the stress of browsing through different exchanges for the best deal
It saves you the extra charges when depositing to an exchange platform
Users have access to their private key (your funds, your money)
This is a nice review. I have been using tokenpockets have been hearing how secured it is but I'm yet to get it, this write up just encourage me to
Thanks and welcome to the TokenPocket family, am definitely sure you are going to find all you need from a wallet here
This is well detailed ...
I never had an idea I could that
Yes you can and TokenPocket supports other many other features as well
Nice overview
Pls, does this platform also support swapping token (I.e token built on an already existing blockchaain), may be swapping an Erc- 20 token for Eth?
At the moment it does not support erc 20 token swap, but TokenPocket wallet app has the feature to hold erc-20 token via their ethereum wallet section
A lot of valid information here
thanks
You are welcome and thanks for stopping by
This i a well written article @otemzi
Woah!!! What an well detailed review. This is a very interesting, educative and informative article @otemzi. Thanks for sharing it here.
I love the fact that we can easily swap tokens using token pocket app from one coin to another, but might isn't working, it keep saying maximum ... Minimum stuff that I don't even understand
Yet another awesome review here. And I'm not surprised coz i know you've been a token pocket fan from day one.
So bad the app wouldn't run in my current device... 😕