Topic: What's the best/cheapest in-wallet exchange? (Read 245 times)
Lastly using Trustapp to do swapping to preferred currency which i mostly needed, some thing I noticed with swap most at time is that they are higher than CEX. I mean there fees are not comparable and is more cheaper to DEX. Ethereum network making it worse for swapping, looking round they mostly looks alike and no need moving from DEX to another in as much as the token/coin is being listed in a good swap.
I did not use the wallets you mentioned for swap. So I have no experience with these. However, I use Trustwallet and Metamask for swaps. Trustwallet seemed to me the easiest of the two. And the issue of cheap depends on the blockchain.
About being cheap.Do not worry about the price if the return of it is about the security of your funds. That's why hardware wallets have its price but they're not that expensive at all.
It's better to have it if you've decided to be a long term holder so that you won't have any problems holding it for years to come. You just keep the seed phrase in a good place then the device will do good just for keeping it, based on what I've done for years.
Although it's quite the old version, still works good.
I did not use the wallets you mentioned for swap. So I have no experience with these. However, I use Trustwallet and Metamask for swaps. Trustwallet seemed to me the easiest of the two. And the issue of cheap depends on the blockchain.
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Some wallets like Atomic Wallet, Exodus and even Ledger Live have an exchange/swap option these days where you can swap your coins into different ones.
Use an exchange if you want to trade your coins and if you were done, use a noncustodial wallet to store your coins.
If you are occasionally swapping coins on your wallet, the fees will kill you, and knowing that you are paying those fees then using a reliable exchange.
Suggestion and the link above that were shared was very useful, just have dig research and find your own solution.
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The fee to exchange or swap tokens/coins through a trading in-built wallet is mostly determined by the traffic level of the blockchain network of the crypto you want to exchange not the wallet and the last time I checked most of the in-wallet exchange partnership with some exchange which execute this service while the wallet owner act as the middle man.
Some wallets like Atomic Wallet, Exodus and even Ledger Live have an exchange/swap option these days where you can swap your coins into different ones.
You should know that most of this wallets you mentioned are using some centralized third party service and they can block you, or don't exchange your coins at any time.I know for a fact this is the case for exodus, atomic, coinomi, maybe some other wallets, they can also charge you higher fees, so I would stay away from them.
Using atomic swaps would be the best way, and there are almost no risk of you getting scammed or lose your coins, problem is that not many wallets support them.
Some people reported that using browser extension Liquality can do swaps like this, but I have not tried it myself, so I can not confirm that myself.
I know that AtomicDex is open source and they are dex exchange using atomic swaps or you can use it only as a wallet, but you hold the keys.
Note that not all coins are supported in this wallets, and please do your own research before using any of them.
Some wallets like Atomic Wallet, Exodus and even Ledger Live have an exchange/swap option these days where you can swap your coins into different ones.
One more thing for you if you want to use METAMASK, also the best solution is currently widely used, the cheapest and the fastest network, for METAMASK you can see it on youtube in full.
Do you mean metamask swap? If so, then it's not worth to use, they have 0.8% fee on the top of usual exchange fee. Better directly use uniswap/quickswap/etc.
Most of the swap platforms that exist today, especially those that are built-in directly like Trustwallet, Safepal, Atomic, etc., have almost the same fees.
So expecting that swap platforms offer lower fees than others is unreasonable. Unless you are using the CEX platform.
So expecting that swap platforms offer lower fees than others is unreasonable. Unless you are using the CEX platform.
In addition, Atomic and Exodus wallet aren't really safe since they're closed sources. You'd better use the open source and non custodial wallet.
I more prefer to use non custodial wallets but I disagree to automatically conclude a non custodial wallet is better than a custodial wallet. It depends on their quality because not all non custodial wallets are good and not all custodial wallets are bad.I agree it's better to use non custodial wallets with private key or mnemonic seed, then if you need to make transactions, you can do it anytime you want. If you want to sell your coins on exchange, sign a transaction to deposit it on an exchange, and sell it on that exchange.
In-wallet exchange charges you additional fee for in-wallet exchanges so is it economic saving in your opinion? I don't see it is economic-saving.
I've checked above three wallet and the fees relatively same, just a matter small difference between each wallet. Usually swap features doesn't have a lot pairs compared to centralized exchanges, and the fees also smaller than swapping.
In addition, Atomic and Exodus wallet aren't really safe since they're closed sources. You'd better use the open source and non custodial wallet.
In addition, Atomic and Exodus wallet aren't really safe since they're closed sources. You'd better use the open source and non custodial wallet.
I use trust wallet inbuilt swap and also metamask inbuilt swap they are my favourite it seems the metamask fee is lesser compare to trust wallet but they are both good, coinomi used to be better but things have changed already.
Nothing. Because the swap options of these wallets just aggregate through the bigger DEXs and add a sizeable fee in exchange for the convenience. Your really better off just using the exchanges directly, as to prevent unnecessary additional fees.
The wallets are using a third-party API for their built-in exchanges. The fees are not going to differ much because most of them use the same providers. Look into the following to get a better idea about the fees: ShapeShift, Changelly, and ChangeNow. You've also got Simplex (for fiat).
With crypto transactions, you will have to pay transaction fees to miners, stakers, validators on networks. It is mandatory fee which will be charged for all crypto transactions.
You can customize fee rate for your transactions from low, medium to fast speed. In order to have rights to set up customized fee rate, you must use non-custodial wallets. If you use custodial wallets, you will not have such rights and will have to rely totally on those platforms for fee rate. Usually, they set up high fee rate to give customers most seamlessly experience but sure it is not cheap.
However, there are other fee, service fee for example. I mean if you use custodial wallet, you will have to pay for service fee and it might not be cheap.
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You can customize fee rate for your transactions from low, medium to fast speed. In order to have rights to set up customized fee rate, you must use non-custodial wallets. If you use custodial wallets, you will not have such rights and will have to rely totally on those platforms for fee rate. Usually, they set up high fee rate to give customers most seamlessly experience but sure it is not cheap.
However, there are other fee, service fee for example. I mean if you use custodial wallet, you will have to pay for service fee and it might not be cheap.
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Some wallets like Atomic Wallet, Exodus and even Ledger Live have an exchange/swap option these days where you can swap your coins into different ones.
Google also did not help so much but maybe somebody here has an experience?
If Google doesn't help you much in finding the best and cheapest Bitcoin/Crypto wallet, of course this forum has a summary for you about the wallet you want to use.You can study and see here: Topic: [General] Bitcoin Wallets - Which, what, why?, I hope it can help you in explaining in detail.
One more thing for you if you want to use METAMASK, also the best solution is currently widely used, the cheapest and the fastest network, for METAMASK you can see it on youtube in full.
Some wallets like Atomic Wallet, Exodus and even Ledger Live have an exchange/swap option these days where you can swap your coins into different ones.
I have tried some of these but I am not sure which one actually has the best rates.
Google also did not help so much but maybe somebody here has an experience?
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