We decided to prepare a series of posts for you in which we will tell you about the main functions of Swap Wallet. The first one is dedicated to the main functionality of our service – a wallet and stablecoins. So, let’s begin!
Swap Wallet can store three popular cryptocurrencies – Bitcoin, Bitcoin Cash and Litecoin. Any transfers between wallets within the service are carried out instantly and with zero commission.
Another important advantage of Swap Wallet is the speed of external transfers. Any external transaction is considered completed after just two confirmations. While in other wallets, transactions take place after six confirmations. Users can independently adjust the commission when sending external transfers. All external transactions from or to the Swap Wallet are easily tracked on the appropriate services (Blockchair.com, etc.).
The next key feature of the service is the presence of a financial reserve of stablecoins (stable means of payment), consisting of 8 currencies: Russian ruble, US dollar, euro, Swiss franc, British pound, Thai baht, Japanese yen and Chinese yuan.
The cost of these currencies is calculated according to stock exchange rates, so stablecoins allow you to fix the rate in fiat money when you buy bitcoin or other cryptocurrencies. Thus, you will avoid losses in fiat in case of possible changings in the rate of cryptocurrencies. For example, if you invested 10,000 USD in Bitcoin, you will be able to withdraw the same amount of USD even with a strong drop in its rate.
Another feature of the Swap Wallet is the increased attention to the security of user accounts. The service uses two-factor authentication and an online monitoring system for suspicious transactions, and the support service promptly considers user requests and answers any questions.