I don't think I have enough appendages to count the number of times I've heard of a new coin or farm launching, realized all my funds were locked up elsewhere and panicked to onboard some additional fiat so I could get in on the moon. It seems like every single time this happens I buy USDT on Ethereum when what I really need is USDT on BSC, or Tronix or whatever side chain I'm buying for. What follows is 30 mins to 1 hour of me trying to remember how I fixed it last time.
I've been in crypto for 8+ years so you would think this wouldn't be an issue anymore. In the past my go to play was to head over to some other, unnamed, instant swap provider so I could get the right tokens in my wallet through 3-4 swaps. While I don't think I'm going to stop making the mistake of buying the wrong USDT, how I go about fixing it has gotten a whole lot easier.
I'd be lying if I told you I'd heard of SwapSpace prior to Publish0x's writing contest. I already mentioned in the past I used another, unnamed, swap service that I now plan to shove under the rug. When I found out SwapSpace offers swaps of ERC-20 tokens to TRC-20 or BEP-20 tokens and vice versa, it now eliminates half the steps I usually have to take when token purchase snafus are made. So even though I found out about SwapSpace through a writing contest, me writing this post has just as much to do with it filling an actual need I have.
Before I get too far ahead of myself though, lets get into what SwapSpace is and a few of their core features.
What is SwapSpace?
SwapSpace is a cryptocurrency exchange aggregator that integrates several swap services and exchanges to find the best rate for it's users. This means instead of searching through all the swap providers out there, trying to find the best rate and if it provides swaps for the coins you're looking for, SwapSpace takes care of that for you by identifying both the best rate and the swap service that will offer the coins you're looking for.
A few of the basic benefits SwapSpace offers are -
- No Extra Fees - SwapSpace charges no additional fees for the swaps it aggregates. You would think since they aggregate the swaps for over a dozen services there would be some sort of hidden fee charged here, however there is none. Instead they opt to share the fees with the swap services they aggregate.
- No Signup/KYC - No additional data needs to be shared with SwapSpace outside of the wallet addresses for the swap. This is particularly useful for US based customers as SwapSpace also aggregates swaps through Shimbo, who go through Binance. This is usually not possible for US based customers.
- No Limit Exchanges - While there's a lower limit for swap amounts, there is no upper limit. If you want to swap 100,000 ETH, you can go right ahead and do that.
Over 450 Coins Supported - There's a huge range of coins supported on SwapSpace, some I've never even heard of. This is particularly useful though if you're wanting to ape into a lesser known coin or out of one where a swap would traditionally be difficult to find. - 24/7 Support - Huge as well, I'm sure we've all been there where something in crypto doesn't go according to plan and we have to wait 2-3 days to receive a response (or if you've ever used Binance, 6-8 months). With SwapSpace they have 24/7 support so if something goes wrong at 2am on a Sunday, someone will be there to help you out.
- Lucrative Affiliate Program - For all my referral kings out there SwapSpace has your back. For every swap that goes through your affiliate link with SwapSpace you get a 50% kickback of SwapSpace's share. Pretty nutty rates if you ask me.
How to SwapSpace
Yes I will teach you to SwapSpace. For my example I'll be swapping 90 USDC on Ethereum over to BUSD on BSC. Why am I doing this you might ask? Because I can't resist jumping in even harder to that DEC pump due to the upcoming Splinterlands Airdrop. So let's get into it -
Step 1:
First input the amount of token you'll be exchanging, this goes in the first box. You'll then be shown your expected outcome in the second box. In this case I input 90 USDC (ERC-20) and in exchange I should receive ~87.76 BUSD. The difference here is due to the exchange fee and any differences in token price. Next you'll click "View Offers", this will show a list of exchange services with the best offer at the top.
In this case I chose the top offer since it offered the highest reward by clicking "Exchange". These are some pretty good rates too for a stablecoin swap between chains.
Step 2:
Next you'll enter your recipient address, this is where the swapped funds will go, as well as a refund address in case the swap get's canceled for some reason.
In this case I did block out my addresses because yes, I'm weird about privacy.
Step 3:
You'll then transfer your funds to the exchange address indicated. You'll have 30 minutes to make the exchange, unless you use extremely low gas that should be ample time for all the major blockchains out there.
As a small warning I did choose a swap that has a floating rate. Meaning I could potentially get back more or less BUSD then what was shown depending on the rate at the time of swap.
Step 4:
Wait for it to process, all in all it took me around 15 minutes to complete. In my case I actually received roughly $1 more than expected from this swap, always better to get more than less. This is significantly faster then when I used to have to perform multiple swaps to eventually get the token I was looking for.
If you prefer a video tutorial, there's a great one on their YouTube channel here.
The Future of SwapSpace & Comparisons
I love me a roadmap. While snooping around the SwapSpace website, in their About page, I found a nice roadmap for what their future plans are regarding SwapSpace. Currently they're at the Fiat Offers step but what I'm excited about is the Telegram swaps bot and further exchange listings. They already have the most exchanges integrated I've seen out of an exchange aggregator so adding in more is pretty cool.
As for comparisons it's not even close. In the past I used Changelly, ChangeNow and SwapZone. SwapSpace has them beat in just about every category:
I knew nothing about SwapSpace before writing this and coming out I have to say I'm definitely impressed. They have a huge range of tokens they perform swap services for and a good number of exchange partners they work with. Going forward I don't think I'll need any other swap provider.
Thanks for reading! I hope you enjoyed.
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