Exchanging and storing crypto-assets in a centralized exchange in this modern crypto-sphere with news of exchange hacks, exorbitant trading fees incurred by third-parties, insecurity, tempering of user data and lots more coming from the four corners of the globe is like seeing someone poisoning your drink and yet you went ahead gulping it all. It is a known fact that the centralized exchanges are not safe for storing your crypto-assets and most of them do not support a wide range of cryptocurrencies making most traders diversify their crypto-assets.
Centralized exchanges have loads of challenges such as hack vulnerability – Coincheck was hacked of NEM worth a value of $550,000,000 not to talk about Mt.Gox that was hacked of Bitcoin worth the value of $500,000,000 and many other exchanges, assets mismanagement, volume demands, Government regulations, third-party and external bodies that is liable to make changes to the system and many more. In most centralized exchanges the process of exchanging one cryptocurrency for the other is time-consuming and multifaceted. Because most cryptocurrency exchanges do not support diverse cryptocurrencies, traders will be obliged to migrate their wallet private key to the said cryptocurrency exchange thereby putting their assets at risk in order to attain their goals.
The crypto-sphere is migrating from the world of centralized exchange to decentralized exchange with all crypto-assets securely stored and exchangeable in on single wallet void of delays in transactions, hacks and every other challenge faced in the centralized exchanges. All that a trader's needs are a wallet that is secure, inimitable, immutable, supports all currencies, supports all blockchains, and fast in a transaction to store their hard-earned assets.
Atomic swap wallet will put an end to these menaces via the utilization of Hash Time-lock Contract (HTLC) that is a timeframe smart contract amid both parties that created the cryptographic hash function, verifiable between both parties. A timeframe is set by the smart contract for both parties to verify their transactions. When there is delay or failure to validate the transaction by either party, the whole transaction is canceled. This implies that there is no loss of fund by either party.
GET YOURSELF ACQUAINT WITH ATOMIC SWAP WALLET
Atomic swap wallet is the next generation archetypal and a one-stop-solution for the future of cryptocurrency storage and exchange. It is a decentralized multi-cryptocurrency crypto wallet that utilizes BitTorrent technology in terms of orderbook. Also, in terms of cross-chain safekeeping free exchange, it utilizes the atomic swap technology. Atomic swap wallet is power-driven by a cryptographic smart contract technology thereby making it possible for peer-to-peer cryptocurrency exchange or trade.
Transactions (Cryptocurrency swap) on the platform are a peer-to-peer (P2P) process that do not warrant a third-party service such as crypto exchanges.
Unlike most exchanges that have control over user's private key, in Atomic swap wallet users are in full control of their private key. This implies that users need to secure their private keys from prying eyes.
The Atomic swap wallet supports over three hundred plus (300+) crypto coin and thousands of ERC-20 tokens, multi-blockchain cryptocurrency function, exchange options power-driven by Changelly and ShapeShift. In the Atomic swap wallet, users can actually
create their own swap order or use by accepting already existing swap order.. See illustration below.
CREATING YOUR OWN SWAP ORDER
This step is easy and straightforward by clicking on the Atomic swap tab from your left which then reveals three sub tabs like,
2) Place order
3) My orders.
The next step is to place your order by clicking on the middle tab (Place order) and select by clicking on the ticker to choose a coin or token of your choice to be swapped.
By using the pointer (arrow icon), the trader will be able to change the trading pair. The user can as well set a trade limit of his choice and hit the place order button.
Alternatively, the user can use the advanced settings below the place orders to stipulate adjustable values (trade limits) that best suits you. Then hit the place order button.
However, if a trader wants to swap quickly without waiting, the trader will have to click on the Market price tab and select a price that is lower than the actual market price and adjust the margin percent. By so doing, the trader's order will be catchy to other buyers. Hit the place order button when you are through to place your order.
In order to view the order or orders placed, click on the My order tab. Once swap execution begins, you will be prompt to enter your Atomic swap wallet password after which you will have to click on the start swap button. The whole process takes a few seconds or minutes to execute.
USING ALREADY EXISTING SWAP ORDER
After a trader selects his choice of trading pair as described above, a list of already existing order created other traders will be displayed in which the trader has to make his choice by selecting one out of the list and hit the swap button. As usual, you must input your Atomic swap wallet password to start the swap. Upon the swap complete execution, there will be a green checkbox by your order or orders placed.
Remember to stay online while making a swap. At the end of a successful swap, the trader can view all history from the left menu by clicking on the Transaction history tab.
BENEFITS OF USING ATOMIC SWAP WALLET
- Direct execution of coin or token in different blockchains. This is called cross-chain trading.
- Execution of trades off-chain of the main blockchain. This was first performed between Bitcoin and Litecoin in the year 2017 using a Lightning Network.
- With help of the HTLC, there will not be a need for transaction validation.
- The HTLC enables a user to forfeit the fund paid to them thereby refunding the fund to the payer. This implies that no one can be cheated.
- Atomic swap wallet is an on-chain and off-chain wallet.
- Atomic swap wallet is an all in one crypto-asset storage wallet.
- Atomic wallet is a cryptocurrency agnostic.
- Atomic swap wallet is a decentralized exchange that is trustless and feetless.
- The platform is void of the third party thereby trades are executed peer-to-peer.
- Atomic swap wallet provides full autonomy of crypto-assets to its users.
- It is fast, convenient and secure.
- Unlike most exchanges that warrant a trader to sell a coin or token for another before buying the actual coin or token needed. For instance, I intend buying Decred token with Litecoin (LTC). I will have to trade my LTC for Bitcoin (BTC) to enable me to purchase the Decred. But the case is different using the atomic swap wallet where I can directly swap or exchange LTC for Decred.
DOWNLOAD ATOMIC SWAP WALLET
Using the PROMO CODE: QVTDK, when you access the Airdrop page in the wallet, gives you twenty-five (25) Atomic wallet coins (AWC). Kindly download atomic swap wallet via any of the following platform:
GET MORE NEWS, INFORMATION AND DETAILS FROM ATOMIC SWAP WALLET OFFICIAL LINKS
ARTICLE WRITTEN BY MICKEY OBERABOR
BITCOINTALK USERNAME: MICKEYBERRY