Coins.ph is thrilled to introduce its latest feature, the all new Web3 swap, designed to empower you with seamless, secure, and low-fee token swaps within our app.
Why use our Web3 Swap?
Seamless Swaps: With Coins.ph Web3 Wallet, you can enjoy uninterrupted access to the Web3 ecosystem. It's auto-connected, allowing you to swap directly within the Coins app with ease. You can also track your balance and transactions anytime, anywhere under the 'Balance' > 'Web3' tab, keeping you updated on your wallet.
Unparalleled Security: Your security is our priority. Our Web3 Wallet is powered by MPC (Multi-Party Computation) technology, adding an extra layer of protection. We have stringent security checks in place, ensuring that users can interact with dApps with the utmost confidence.
Expanded Token Access: Coins.ph Web3 Wallet provides access to tokens that our regular wallet does not support. Users can look forward to more networks and tokens in the future, enhancing your crypto experience.
Low Fees: Our platform doesn't take a cut from your swaps. The only fee you pay is the network fee for the on-chain swap (and new token approvals where applicable), ensuring you get the most value from your transactions.
How to access the Web3 Swap:
In just a few steps, you can easily make Web3 swaps on your Coins app! Here’s how:
Note: You must have a Web3 wallet before you can use our Web3 swap. To create a Coins.ph Web3 wallet, click here.
- Open your Coins app and select “Discover” tab
- Select “Web3 Swap”
- Select a network, whether Ethereum or Polygon
- Choose which token and add the value you want to swap
- Click “Swap” and complete the confirmation process
Once you’ve confirmed your transaction, you have successfully swapped tokens via the Coins app!
Things to remember:
Minimum Swap Amount: For the Polygon network, the minimum swap amount is approximately 1 USDT, while for the Ethereum network, it's approximately 10 USDT.
Approval Fee: Similar to other decentralized swap platforms, there will be an additional approval fee when swapping a new token on a given network for the first time.
On-Chain Swap: As these transactions are on-chain swaps, network fees are completed using MATIC (Polygon) and ETH (Ethereum) respectively.
Frequently Asked Questions
Do I Need to Pay Network Fees for Web3 Swaps?
Yes, similar to any other on-chain decentralized swapping, network fees are applicable.
What Networks Are Supported?
Currently, we support the Ethereum and Polygon networks. For any new network announcements, make sure to follow Coins.ph on social media.
Where Can I View My Web3 Transaction Records?
You can easily access your web3 transaction records by navigating to the main Balance page in your Coins app and select the ‘Web3’ tab. You may click on the respective tokens to view the swap transaction details.
How Long Will the Transaction/Swap Take?
Transaction times depend on network congestion, but typically, they will be settled within 10-15 minutes.
