Here at XGo, we make swapping your currencies really simple.
Once your account holds either Fiat or Crypto, there are three ways you can swap your currency:
- Swap crypto for crypto
- Swap crypto for Fiat
- Swap Fiat for Crypto
Just in case you’re wondering, here’s a quick note about swapping vs trading…
It’s easy to get confused about the difference between trading and swapping crypto.
Essentially, crypto swaps are more straightforward and are often the choice of newcomers to crypto. Trades are more complex, but provide more options for those with a little more crypto confidence.
Swaps are used for immediate transactions with like-for-like values. For these, you’ll pay one overall fee. With swaps, you can also easily swap ‘Fiat’ (Regular currency like Euros, British pounds or US dollars) and crypto, with no trading knowledge.
Trades can be set for specific time periods, prices, or market conditions. This means that when people have some knowledge of the crypto market, they will often trade with the aim of influencing the outcome. Fees are charged from both sides of the transaction, and you’re only able to trade specified crypto pairs available on each exchange.