CloudswapWhat is a crypto swap
How an instant exchange turns one coin into another without an account or an order book.
A swap in one sentence
A swap exchanges one cryptocurrency for another in a single step: you send coin A to a deposit address, and coin B arrives in your own wallet. There is no account to fund, no order to place and no balance to withdraw afterwards.
How it differs from an exchange account
On a trading platform you deposit funds, wait for them to be credited, place an order, and then withdraw what you bought. Each step has its own waiting time and its own fee, and your coins sit on the platform in between.
With a swap service the coins pass through only for the time the exchange takes. You decide where they arrive, and nothing stays with the service once the swap is complete.
What happens behind the scenes
Every swap goes through the same stages, and the swap page shows each of them as it happens.
- Waiting: the swap has its own deposit address and waits for your transfer.
- Confirming: the network confirms your transaction.
- Checking: the incoming transfer is screened for links to stolen or sanctioned funds.
- Exchanging and sending: the coins you asked for are bought and sent to your address.
What you need before you start
Only a wallet address that can receive the coin you are buying, on the network you choose. Double-check the network: an address on the wrong network is the most common reason coins go missing.