Swap Crypto | Obiex (2024)

FAQs

Why won't my Coinbase wallet let me swap? ›

A swap can fail because of a sudden shift in the exchange price between the cryptocurrencies you're trying to swap. We recommend waiting at least 60 seconds before retrying the transaction.

Cryptocurrency swaps are faster because they utilise blockchain technology and self-executed contracts that process transactions once certain conditions are met. Moreover, they involve fewer intermediaries and operations, which makes them faster than trading.

Most cryptocurrency trading commonly occurs between 8 a.m. and 4 p.m. UTC, and while the markets remain open 24/7, most trades are executed during this period. There may still be activity outside of this timing, but it will be lighter, and you could find it more challenging to open and close trades.

The most common one is related to liquidity constraints when swapping two (or even one) long tail assets. If that's the case we recommend dividing the swap into two swaps using the native token (or any main stablecoin like USDC or USDT) of the input chain as the pivot asset.

The main reason why your swap might have failed is likely to be slippage. When you perform a swap, you are agreeing to a price quote. If the price of the swap goes outside of the allowed slippage set (typically 2-3%), it will fail, in order to prevent you from seeing a huge variance in value when completed.

Coinbase puts safeguards in place to prevent potential loss from irreversible transactions. In some situations, accounts may be temporarily restricted from sending cryptocurrency off the Coinbase platform for a period of time. Other restrictions may also apply, depending on our internal security and risk assessment.

To make money by swapping crypto, you must invest your resources and effort in discovering new and promising crypto projects. While coins like Bitcoin and Ethereum are well-established and won't generate 10X profits even in the long term, numerous emerging projects could achieve that milestone in weeks.

Understanding risk factors. While every effort is made to mitigate risks, it's essential for users to understand the inherent risks associated with crypto swaps. Factors such as market volatility, network congestion, and potential vulnerabilities in third-party services can impact the security of swaps.

Why is my crypto swap taking so long? ›

Many factors can impact the delay, such as the network congestion on both networks of the swap, then the delay of the swap provider in processing the incoming and outgoing requests, and issues during KYC (Know-Your-Customer) verification.

Crypto swapping is basically directly converting your assets to another currency to either build a portfolio, cut losses, use crypto as payment, or avoid slippage costs or other high transaction fees. Crypto exchange, on the other hand, is for buying and/or selling crypto.

SimpleSwap is an exchange platform that offers quick and easy swaps for users around the world. SimpleSwap exchange offers its customers swift cryptocurrency exchanges without complex verification process.

Unlike crypto trading, which involves first selling one coin for fiat and then buying another coin with fiat, crypto swapping reduces the number of intermediaries and costs by allowing direct exchange between users or their wallets with minimal fees and delays.

Ensure your legal name and payment details match. Chargebacks can cause a negative balance, impacting your ability to trade. Your payment method may be limited to direct crypto purchases or cash deposits. Use a different payment method to complete the transaction.

Make sure your device is using the latest firmware. Make sure that your wallet is plugged into your computer. Check that the Coinbase Wallet extension is open on your browser.