What is swap?
What exactly is a token swap? It refers to the token holder exchanging the original token for another token.
With the Burrito Wallet, you can check and exchange the optimal quotation for the desired token within the wallet service without the cumbersome procedure of connecting your wallet to the DEX.
You can conveniently swap between tokens by selecting the My Asset Swap button on the main screen of the Burrito Wallet app. ↔️
Which swaps are supported?
The Burrito wallet supports the swap protocol supported by each mainnet, so users can exchange tokens they want on a specific mainnet.
Swaps that currently support Burrito include:
- Ethereum: 1inch (Aggregator), Uniswap (DEX)
- Binance SmartChain, Klaytn, Polygon : 1inch (Aggregator)
- Bitcoin, Casper, Solana: swap is not currently supported. (To be supported later)
What is the swap process?
Burrito Wallet offers a Swap service.
The swap service may be used through one of the two methods.
- Swap tokens in the wallet tab
Please proceed with the "swap" (exchange) service in the order below.
1). Select the "My Assets" 'Swap' button on the main screen of the Burrito Wallet app.
2). After entering the token and the transfer amount, specify the token to be exchanged.
3). After checking the calculated quotation, if you want to swap according to the quotation, click 'Calculate Swap Quote’
4). After checking the calculated quotation, if you want to execute the swap according to the quotation, click ‘Execute swap’.
5). If the swap is successful after going through the swap progress screen, you can check the 'Swap Completed' screen.
If you press the 'Check transaction details' button for the completed details, you can check the details of the swap transaction.
- ‘Swap tokens in the ‘Swap’ tab
1). Within the ‘Swap’ tab, it is divided into tabs such as "Favorites," "Hot," "New," and "Rising.”
Please check the list of tokens.
2). You can check tokens by tab, such as "Favorites," "Hot," "New," and "Rising.”
3) Click the Ranking tab to check the ranking of currently active swap tokens.
4). Search for the token you want to swap through search.
5) After entering the token and quantity to send, specify the token to receive.
Then, click the ‘Calculate Swap Quote’ button.
6). After checking the calculated quotation, if you want to execute the swap according to the quotation, press the ‘Execute Swap’ button.
7). Please check the information about possible losses and risks when swapping.
8) You can check the swap completion screen by going through the swap progress screen.
What are some helpful tips for swapping?
When exchanging a small amount, it doesn't matter much, but when exchanging a large amount of coins, it is recommended to check that the exchange rate does not have a big difference compared to when trading on an exchange.
Why use a swap service??
You can easily buy coins without the inconvenience of buying/selling on the exchange. You can easily exchange a particular coin you have for another coin. Coins not listed on the exchange can also be purchased through the swap service. It is convenient to use if you need to exchange a specific coin to deposit a coin in the DeFi service, or if you want to purchase a newly emerging DeFi coin that has not yet been listed on the exchange.