How To Swap Tokens with SimpleSwap Mobile App | Swapping Guide Part 2 by TechClub | 26 Dec 2021

in techclub •  3 years ago 


Swapping Guide from TechClub (1).png

This guide will be part of multiple guides focused especially on Indian users to know how to easily withdraw INR to their wallets. But other country users with access to the CoinDCXPro app can also follow this.

Previously we published part 1 with website
https://blurt.blog/techclub/@tekraze/how-to-swap-coins-with-letsexchange-swap-website-and-coindcxpro-app-or-swapping-guide-part-1-by-techclub-or-25-dec-2021

SimpleSwap Mobile App

SimpleSwap Mobile app allows users to swap easily tokens at market price without any Signup and fast speed. This can be used by people who do not how to do trades, but just want to exchange their tokens and transfer them to wallets like CoinDCXPro for Indian users

Requirements

  1. Hive Tokens (on hive.blog)
  2. Tron or TRX Address (CoinDCX pro app)
  3. SimpleSwap Mobile App

Note: There are fewer fees, and almost low fees wherever applicable and cheapest than other tokens so that is why we are using TRON tokens.

Note: You can exchange Blurt tokens to hive tokens using Tribaldex or hive-engine. You can check this post on how to use tribaldex with blurt https://blurt.blog/witness-discussion/@zahidsun/how-to-use-blurt-swap-to-buy-and-sell-blurt-on-tribaldex

Process

1. CoinDCXPro App

Download the CoinDCXPro app from the play store on your mobile

https://play.google.com/store/apps/details?id=com.coindcx&hl=en_IN&gl=US

Sign up and do KYC. You need to add and verify your Indian bank account also.

You can use my referral link to get free 100INR worth of bitcoin https://coindcx.com/signup?r=22824695$$Yxisfkabo
This is optional and you can directly signup

Now go to funds > withdraw > Then select TRON - TRX option and not down your address or copy somewhere.
You can see the same as I shared below. Yours will be similar to use


Screenshot_2021-12-25-16-41-15-907_com.coindcx.jpg

Note: This is my public TRON address, so do replace it with yours you will get in the CoinDCXPro app

2. Hive Tokens

You need to have some HIVE tokens in your https://hive.blog wallet which you need to transfer for swap. You can also get hive tokens from your blurt tokens using Tribaldex or hive-engine.

Note: There is no min amount or max amount for swap. Just do at least 10 min HIVE token transfer for exchange. In case of large amounts like 1k or 10k try swapping in parts and not all at once, as there can be a low exchange rate in case of large amount transfers.

3. SimpleSwap Mobile App

1. Start Exchange by placing an exchange order

Enter the number of tokens to exchange and select a target token. Here we have source as Hive and target as TRON. Then click on the exchange


image.png

Floating rate will give you the exact rate at the time of exchange actually happening and in the fixed option, you get the price at the time you created this exchange order. So better to keep floating.

2. Your TRON Address

Enter your TRX address where you want to receive the exchanged tokens. This is the same as we created from the CoinDCXPro app. Also, enter the amount of hive you want to transfer.
Check screenshot below


image.png

3. Deposit Hive Token

After creating an exchange you will get two properties:

  • one is a deposit address where you need to send a HIVE token
  • memo which is the required exchange identifier
    Here for my case swap2020 is the deposit address for Hive.


image.png

Go to your hive wallet and create a transfer with both properties like the image below replaced with your values in the simple swap mobile app.


image.png

Note: Make sure to do include the right memo and address, or you may lose your tokens.

4. Exchanging process

After your transfer has been processed by hive and the deposit address, receives the token you will see the exchange progress will be started. Normally it takes 5-10 mins for the process, but sometimes it can take a long time. So just wait for some time.
You will see a screen same as mine below


image.png

Keep watching the screen for the status or you can come back in case you minimize the app from the exchange list

5. Completion Process

Once the exchange is done, you will get the completion status as the screenshot below


image.png

Here is a screenshot also of whole process with updated process.


image.png


So, this is how you can exchange token without any signup with the mobile app on the market prices. We have used Hive and TRX combo, but you can do other supported tokens from the list.

First check token availability on the CoinDCXPro app if a token deposit is available, then set the expected token. And check the SimpleSwap mobile app list to see supported tokens and processes for their respected wallets.
You can sign up also to receive a swap bonus for further exchanges.


More Guides will be linked here when created


How To Swap Coins with LetsExchange Website
How to Withdraw Blurt to INR whole process for Indian users(Under Process)



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Is there a benefit of swapping our tokens instead of trading them directly. I mean you have used the swap service so are the swap rates good or it is good to go with trading our Crypto on Binance.

  ·  3 years ago  ·  

Trading is good for someone having knowledge and who can wait. The methods I shared are good for people who just want to get INR without any worries at best rate (Market rate chosen)
Another thing I can say is, it saves from having multiple exchanges account and KYC issues.

Swap rates can be 90-95% of the original one, but for a newbie, it is better than trading as he may set the wrong exchange amounts.

Thanks for the clear guide. What about the swap rate? I mean the fees are higher or lower compared to trading?

  ·  3 years ago  ·  

Fees are comparatively lower than trading. But also depends on token numbers for exchange. Prices are best-chosen rates at market price so keep changing.

Congratulations, your post has been curated by @r2cornell-curate. Also, find us on Discord

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Felicitaciones, su publication ha sido votado por @r2cornell-curate. También, encuéntranos en Discord

  ·  3 years ago  ·  

Thanks

Seasons Greetings @tekraze Thank you for always updating us with the basic information needed for everyone to succeed in blurt. Your work is noble and we are always happy to see your post.Thank you once again for the token swap directives.

Use the #blurtconnect tag to get more upvotes from usBlurt to the moon 🌕You can delegate any amount of Blurt power to @blurtconnect-ng
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  ·  3 years ago  ·  

Thanks

You're so determined in your passion.
Always bring some awesome updates and new information.

  ·  3 years ago  ·  

Thanks

  ·  3 years ago  ·  

Hello, this is my profile on blurt. I met you days ago in Serey ...

  ·  3 years ago  ·  

Hi there, nice to know