ZEN - eUSDT swap via Coinomi (Changelly)
19:30 - Initiate swap ZEN - eUSDT
19:33 - Receive ZEN deposit, waiting for exchange
20:08 - Swap complete
Total time: 38 mins (now compare this to 100 confirmations (250 mins) required for the withdrawal of new deposit and 24 confirmations (60 mins) for trade on Binance exchange!)
Notes: 3% fee was charged for this swap
Why use swap instead of going through exchange?
There are several reasons. It’s faster, easier and you’ll have a peace of mind.
- No confirmation required to make trade (faster)
- No confirmation required to make withdrawal (faster)
- No need to transfer from your wallet to the exchange and back to your wallet (easier)
- You are able to lock the USDT value immediately with swap. With exchange, you are exposed to fluctuation risk while the deposit is being confirmed. (peace of mind)
- There are times when the exchanges perform wallet maintenance where you can’t even deposit or withdraw. (peace of mind)
Having said that, I know 3% can be hefty for large transaction amount but you’re not going to do swapping very frequently. You only swap when you feel it’s necessary to lock your asset in USDT due to fear of price volatility.
Well the choice is yours! Speed comes with a price!