LocalCoinSwap is expanding the ability to trade crypto to crypto, making it easier than ever before to move between the various cryptocurrencies on the platform. This new addition allows traders to explore even more trading opportunities while using the same platform. If you’ve been waiting to make the switch to LocalCoinSwap, this might just be the push you need to switch to the most popular non-custodial P2P marketplace.
Doesn’t LocalCoinSwap Already Support Crypto to Crypto?
Yes, for quite some time now, you’ve been able to trade crypto to crypto on the platform. Selecting a cryptocurrency as a payment method allowed us to integrate this alongside other payment methods seamlessly while providing the same P2P experience our users are familiar with already. However, as there is such a vast range of digital assets that users may wish to trade, we have expanded this offering in the form of integrating ChangeNOW into the LocalCoinSwap platform. Starting with the cryptos already available for trade on the platform, with a view to increasing this after the initial introduction of this functionality, you can now quickly swap between different assets at any time.
Increased Flexibility and Liquidity
If you are looking to use a specific payment method to purchase cryptocurrency, you now have more options. You can now quickly convert a cryptocurrency bought from a vendor on the platform to any other available assets. Avoiding liquidity issues while exposing you to a wider range of cryptocurrencies allows you to combine this feature with your normal trade flow to discover more trading opportunities.
The ChangeNOW integration sources liquidity from various exchanges. It automates the process and provides fair pricing for crypto to crypto exchange based on the best rates it can source at any particular time. Using the integration doesn’t require a secondary account allowing you to trade between various cryptocurrencies without juggling many different accounts. If you are a P2P trader that values privacy and can appreciate a well-rounded trading process you are likely to appreciate this offering as opposed to dealing with large centralized order-book exchanges that have high requirements on your time and personal information.
Are There Any Hidden Fees?
The estimate provided is based on the best price available on the platform at the time requested and is inclusive of any platform fees. When selecting the “classic rate,” the final amount you receive will be as close to the estimate as possible and will be even more predictable on larger or less volatile cryptocurrencies. It is worth noting the expected rate is calculated at the time of submission. If during the time it takes to process your trade the market conditions change, it can produce a small positive or negative impact on how much you exactly receive after the exchange is completed when trading using the classic rate.
If you want to be sure of the amount you are receiving, you can select the “fixed rate” option. Completing a trade with this chosen option allows you to be certain of the amount you will receive at the end of your transaction. However, selecting this option does tend to produce a slight increase in prices acting as a form of insurance for the time it takes for the trade to finish and the cryptocurrency to be provided to you. Both options work well, which is right for you will be purely a result of your preferences.
How Long Does it Take?
Completing crypto to crypto trades will typically take between 5-30 minutes. The speed will depend significantly on blockchain congestion and other variables associated with this type of quick exchange service. Instead of having to sign into a secondary exchange, maintain multiple accounts to get a reasonable price on volatile assets, and manually submit trades, you can sit back and wait for your trade to be completed for you.
How Much Can I Trade?
There is no upper limit when trading crypto to crypto using this new integration. The minimum amounts for each cryptocurrency will vary somewhere in the range of around $2-20. These amounts may adjust over time and help account for the changes in blockchain fees and other relevant variables; you don’t want to eat up your crypto on transaction fees so the minimums help account for this.
Bitcoin SegWit Support
Like the rest of the LocalCoinSwap platform, this integration supports and conforms with the Bitcoin (BTC) SegWit address standard. Using SegWit addresses helps keep network fees low to ensure you get the most cryptocurrency after completing a trade.
Simplify Your Trade Flow and Exchange Crypto Fast
- Select the cryptos to swap between
- Check and confirm your swap
- Wait for completion and receive your coins
Expanding Options While Sticking to Our Ethos
The addition of the ChangeNOW integration enables us to offer more flexibility to traders but also matches much of what we prioritize when it comes to providing access to cryptocurrency and a safe trading environment. ChangeNOW operates as a non-custodial service; they don’t store your crypto or require registration. With most transactions being completed on average in two minutes, you can retain a lot of what you love about P2P trading while being able to convert your digital assets in a snap.
If you haven’t found out why LocalCoinSwap is the most popular non-custodial cryptocurrency marketplace, find out today and get started trading in just a few moments. See why a growing number of traders are moving to LocalCoinSwap and experience the flexibility and opportunities provided by P2P trading.