Are you tired of searching for an exchange that lists all your favorite tokens? You can swap most tokens effortlessly using decentralized platforms.
Token swapping involves exchanging two different assets on the Ethereum network—for example, trading ETH for DAI (a stablecoin). The process is fast, affordable, and only requires a cryptocurrency wallet.
Prerequisites
- Set up a wallet (follow this tutorial: How to Create an Ethereum Account)
- Fund your wallet with Ethereum or ERC-20 tokens
Step 1: Connect Your Wallet to a Decentralized Exchange (DEX)
Popular DEX platforms include:
👉 Learn how DeFi (Decentralized Finance) works to understand these next-gen exchanges.
Step 2: Select a Token Pair
Choose the tokens you want to swap (e.g., ETH/DAI). Ensure you hold enough balance in either asset.
Step 3: Enter the Swap Amount
Input the quantity, and the DEX will auto-calculate the expected output.
Step 4: Confirm the Transaction
Double-check:
- Exchange rate
- Gas fees
- Slippage tolerance
Step 5: Wait for Processing
Transactions typically complete within 10 minutes. Track progress via a blockchain explorer. Swapped tokens will auto-deposit into your wallet.
FAQ
Can I swap ETH for BTC directly?
No—only Ethereum-native assets (ETH, ERC-20, NFTs) or wrapped BTC (e.g., WBTC) are swappable.
What is slippage?
The difference between the expected and actual exchange rate due to market volatility.
Why use a DEX over centralized exchanges?
👉 Decentralized platforms offer self-custody, lower fees, and broader token access.
Last Updated: May 23, 2025
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