Exchanging cryptocurrencies has never been as easy as it is now. At Bitnovo, you can perform exchanges between all our available cryptocurrencies without the need to register or go through an identity verification process.
What is a cryptocurrency swap?
A swap or exchange is a functionality that allows you to exchange one token or cryptocurrency for another without the need to involve a fiat currency in the process. These types of operations are very interesting when, for example, you want to keep your capital in cryptocurrencies but want to avoid exposure to volatility during bearish trends. In such cases, exchanges can be made to stable cryptocurrencies with parity against a fiat currency.
Advantages of cryptocurrency exchanges
Performing swap or exchange operations between cryptocurrencies has several advantages. For instance, since it involves a direct swap between cryptocurrencies without converting to a fiat currency, these transactions can be carried out without the need to go through a registration or identity verification process. Additionally, these operations generally involve lower costs, as there are no expenses associated with converting to a fiat currency and subsequently withdrawing funds to the chosen payment method. By keeping your capital in cryptocurrencies, you can avoid additional costs.
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