Swap and Bridge
Oct 17, 2024
What is Swapping?
Swapping is exchanging one cryptocurrency for another. It’s like converting dollars to euros but with digital currencies.
How to Swap?
You can swap cryptocurrencies using decentralized exchanges (DEXs) or centralized exchanges. Make sure to check the exchange rates, fees and slippage before swapping.
Slippage happens when the price you expect to pay for a trade is different from the price you actually pay. It often occurs in fast-moving markets where prices change quickly, leading to a higher or lower final price than anticipated.
What is Bridging?
Bridging connects different blockchain networks, allowing you to transfer assets between them. It's like building a bridge between two islands so people can move freely.
How to Use a Bridge?
To use a bridge, select the networks you want to connect, choose the asset to transfer and follow the instructions. Be aware of the fees and the time it might take.