What is an exchange or swap?

An exchange (or swap) is simply changing one cryptocurrency for another. Think of it like converting euros to dollars, but in the world of cryptocurrencies.

How does a Swap work?

You can do it in two ways:

• Within the same network: You exchange cryptocurrencies that are on the same blockchain (e.g., one ERC-20 token for another ERC-20 token on the Ethereum network).
• Between different networks: The most common. You exchange a cryptocurrency from one network (e.g., Bitcoin) for another from a different network (e.g., Ethereum).

At Bitnovo, the process is quick and simple, giving you total flexibility to manage your cryptocurrencies.