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Swap is an English exchange. In the world cryptocurrency it refers most often tokens. Swap token it is performed when a given cryptocurrency project goes from one blockchanu for another one.
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Swap token
Swap is usually performed in a situation where the cryptocurrency project decides to change the blockchainon which he bases his action on another competitive one.
Often, cryptocurrency projects plan to create their own blockchain network. However, they need funds for their activities. In this situation, they collect money under ICO. They emit tokens, for example based on the Ethereum network. Their tokens are bought in the initial offer and also traded on the stock exchange.
When the team he will finish work on his own blockchainem and starts its mainnet, a token swap is organized. The existing tokens in circulation - on exchanges and investors' portfolios, are exchanged for native coins for the new blockchain. Sometimes swap support exchange and they themselves exchange ERC20 tokens on the coins of a given blockchain network in a way that is invisible to investors. However, if the investor has its tokens on secure wallet ethereum network in the prescribed period will not send them, in accordance with the swap procedure, to exchange for native coins (for which a different, special wallet is created), may lose funds. After the swap of old tokens, you can not pay into the stock market, because it only trades on the new coins of the project. This shows that investing long-term cryptocurrencies is not enough for them hodlować many years, but you have to follow the fate of the project.
Swap token on the token
For some reason, the team of developers of the cryptocurrency project released their tokens on the ethereum network. However, as they develop their products, they may come to the conclusion that the ethereum network does not meet their expectations. Another network may give you more features or functions that are not in ethereum. For this reason, the project can be moved to another blockchain, e.g. stellar, EOS or other. Then, ERC20 tokens swap to the tokens of another blockchain. It takes place similarly to the case described above.
Atomic Swap - atomic cryptocurrency exchange
Atomic swap is a flashy exchange of one cryptocurrency for another, regardless of their blockchain. Thanks to this service offered by some wallets and exchange offices, we can exchange bitcoins for litecoin, ethereum or any other cryptocurrency with one click, without using exchanges. In this way, no matter what cryptocurrencies we have on our portfolio. If they accept payments in DASH somewhere somewhere, and we only have ethereum on our account, we do not have to log into the exchange and send cryptocurrencies. Just use the atomic swap to exchange our ETH for DASH.
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