Saving time and money on crypto swaps with LetsExchange
Swapping with LetsExchange.io is easy and cheap – this is what the platform’s users say. The LetsExchange instant multi-currency exchange platform has gathered feedback from its users and shared some of the user experience stories. They highlight a few interesting use cases and show that LetsExchange is helpful not only for crypto traders and investors but for many different types of crypto users.
How LetsExchange helps its users to save on withdrawal fees?
LetsExchange enables secure wallet-to-wallet swaps across multiple blockchains with low fees and without mandatory registration and KYC. Matias from Oaxaca, Mexico, is sharing how he has managed to save on a fee that is charged by a mobile wallet to withdraw funds to a bank account. All he had to do was to move the coins from his TrustWallet to a web wallet offered by a local cryptocurrency exchange with a simple swap on LetsExchange.
“I deal with crypto quite frequently. I have it all covered – here in Mexico, there are a couple of centralized exchanges, they offer web wallets to their users. From there, I can easily and cheaply exchange crypto for fiat and withdraw funds to my bank account.
Recently, I opened TrustWallet to get some BUSD there. It all looked fine until I started checking how to withdraw the funds. The 15-20% fee for withdrawals to a bank account wasn’t even the biggest issue.
First of all, I would need BNB to pay the gas fee. I didn’t have any BNB in the wallet, moreover, I couldn’t just swap BUSD to BNB in the wallet because there were no coins to pay the gas fee. The wallet offered a solution – to buy BNB with my bank card. It would mean verification – ID, a selfie, residence confirmation, and who knows what else. I can’t tell I was happy with it but it looked like there were not many options to choose from.
When the funds were to be sent from the card to TrustWallet, I had to call the bank security service to confirm that I wanted that transaction indeed. Otherwise, the transaction would be denied.
It was simply too much: I needed my funds in fiat, I would need who knows how much time to pass the verification procedures, and now, even that was not enough. I needed to wait until somebody from the bank security department replies, until they find somebody who knows what crypto is and how to help with the transaction…
I had to find a less demanding way to withdraw that money. I had some funds in BTC in my web wallet. And I swapped BTC to BNB via LetsExchange. So, after just a couple of seconds, I got BNB in my TrustWallet to pay the gas fee for transfers.”
Then, Matias just swapped his BUSD in TrustWallet to BTC in his web wallet. It is very easy if you use LetsExchange:
- In the exchange widget, you choose the coin to sell and provide the amount.
- You select the coin you want to receive.
- You deposit your coins to the address provided by LetsExchange, do not forget to choose the network correctly (in Matias’ case, it was BUSD, Binance Chain).
- And finally, you indicate the address to which you want to receive the crypto (BTC in a web wallet).
The entire process takes a couple of seconds, is anonymous, and fees are low. Users can exchange any listed coin for another coin, in any network, without paying excessively. In the end, Matias paid only the liquidity provider’s fee and a blockchain fee which was around 1-2 USD instead of paying a withdrawal fee that would take approx. ⅕ of the sum.
How LetsExchange helps with Cross-Chain swaps?
For users who need to exchange different tokens and have to pay high gas fees for cross-chain swaps, LetsExchange can be useful to save on those fees. Here is what Daniel, a LetsExchange user from the USA, says:
“I frequently need to exchange coins, different ones. For example, when I need to sell ETH and buy BNB on Binance Smart Chain. I live in the USA so I cannot use Binance Bridge because Binance doesn’t operate here. Even if I could use it, a cross-chain swap would cost too much.
On the LetsExchange platform, I can swap any coin with a very low fee, and it takes a couple of minutes only.”
LetsExchange supports over 350 coins and enables swaps between any of them, any chain. The platform doesn’t impose any limits, so users can exchange as much crypto as they want.
How LetsExchange can be used by Play-to-Earn gamers?
Another user story (Wes, from Indiana, the USA) is about play-to-earn gaming but, in its essence, it is also about cross-chain swaps. Wes believes that LetsExchange offers easy swaps to play-to-earn gamers, those who play several games and want to be in control over their funds:
“With LetsExchange, I have an easy way to change one game currency to another. I play Axie Infinity, Slingerlands, and Hive, among others. For me, it is convenient to be able to exchange tokens from one game to tokens from another game if needed. It can be done via a bridge but I’d pay immense fees for that. Another option is to buy in-game assets with fiat but it would mean verification, KYC. That’s why I use LetsExchange – for me, it serves as a gateway to different games that use different tokens on different chains.”
These are just a few use cases described by the platform’s users. In essence, LetsExchange.io offers an easy and cost-efficient way to swap over 120,000 cryptocurrency pairs no matter the wallet you prefer. This capability can be applied to many different cases by all types of crypto users.
Disclaimer: This is a paid post and should not be treated as news/advice.