We will talk about crypto swaps and particularly Atomic Swaps, a new way to do cryto swaps today. Truly decentralized: Atomic swaps are truly decentralized, allowing cryptocurrency traders to exchange digital assets without the need for third-party arbitration, with no counterparty risk. Mitigate investor risk: Atomic swaps also leave cryptocurrency holders in complete control of their cryptocurrency at all times, eliminating the hacking risk presented by centralized exchanges. Reduced trading fees: The only fees associated with atomic swaps are standard blockchain transaction fees, making atomic swaps a fee-free trading method.
If you’ve already got a strategy that works, then a cryptocurrency trading robot may be worth considering. Once you’ve programmed your strategy, the bot will get to work, automatically executing trades when the pre-determined criteria are met. There are two benefits to this. Firstly, it will save you serious time. You won’t have to stare at charts all day, looking for opportunities. Trade execution speeds should also be enhanced as no manual inputting will be needed. Secondly, automated software allows you to trade across multiple currencies and assets at a time. That means greater potential profit and all without you having to do any heavy lifting. Having said that, bots aren’t all plain sailing. If you want to avoid losing your profits to computer crashes and unexpected market events then you will still need to monitor your bot to an extent.
What Decred and Litecoin achieved was an on-chain atomic swap. On-Chain swaps takes place on either currency’s blockchain. In order to do this though, both currencies must: Support HTLC, Have the same hashing algorithm. Off-Chain Swap: Off-chain swap, on the otherhand, allows you to do atomic swaps off the blockchain. These basically take place on what is more commonly known as “layer 2”, Bitcoin and Litecoin engaged in the first ever off-chain atomic swap in November of 2017 by using the Bitcoin Lightning Network. How Different Exchanges Achieve Atomic Swaps Different companies have different ways of executing the atomic swaps. See extra details on Swap Cryptocurrency.
Changelly was founded in 2015 and supports over 150 cryptocurrencies, taking a 0.25% fee for all swaps. You’ll need an email address to use the service though, and Changelly reserves the right to apply AML/KYC to certain users, addresses and particular transactions, which may deter privacy absolutists. Like Changenow, Changelly enables credit card purchases of crypto thanks to a partnership with Simplex. Another very good pick is Atomiic.io.
Our service provides two exchange types: floating rate and fixed rate. You can always choose the most suitable one for you. We make the cryptocurrency exchange process simple as a daily shopping trip. All in order for you to exchange what you want, when you want and as much as you want. A user-friendly and easy-to-use platform for cryptocurrency exchanges. It works without registration and limits. Source: https://atomiic.io/.