Moving forward, we’ll jump straight into explaining the “instant crypto swap” steps when using Moralis Money. Plus, we’ll share the holistic seven-step process to making money with alts. As such, you’ll immediately get the big picture of altcoin investing. After all, the quickest way to swap crypto is just a small part of it!
Next, you’ll have a chance to get your basic understanding of crypto swaps as we will answer the question of what a crypto swap is. We will also look at different kinds of crypto swap services and explain what the fastest way to swap crypto is.
Last but not least, we will take a closer look at what makes Moralis Money so different from other platforms that offer an instant crypto swap feature. We’ll also share some useful tips that will help you get going with this powerful tool.
And, since Moralis Money is the best tool when it comes to finding altcoins before they pump, you ought to put those tips to use sooner rather than later!
Quickly Swap Cryptocurrency Using Moralis Money’s Instant Crypto Swap
Moralis Money went live at the beginning of 2023 and has already changed the altcoin-investing game. This tool combines the power of real-time, on-chain data and ease of use to help traders spot the best altcoin opportunities at any time.
However, as of July 2023, the tool also added the instant crypto swap feature. This made Moralis Money the most holistic and most user-friendly tool for altcoin investing in the entire crypto realm.
After all, with Moralis Money, users now get to cover all of the steps involved in making money with alts. To sum it up, these are the Moralis Money instant crypto swap steps:
- Visit a token’s Moralis Money page
- Connect your Web3 wallet
- Select the token you wish to swap and enter its amount
- Approve the swap
- Execute the swap
Here’s also an example swap that should make things even clearer:
How Instant Crypto Swaps Fit the Big Picture – Making Money with Altcoins
Above, we’ve pointed out that the instant crypto swap step is just one of the core steps you need to master to make money with altcoins. So, below is the outline of the entire approach to altcoin investing.
- Find the Best Altcoin Opportunities – Before you can even start considering using any instant crypto swap platform, you need to know which cryptocurrencies you want to swap.
- Research Altcoins with Potential – Once you are able to generate a list of altcoins that have promising potential, it’s time to inspect them more closely. This is where Moralis Money’s token pages enter the scene. They allow you to explore the ins and out of the token in question. Plus, this is also where you can find the swap feature, as demonstrated above. However, do not use this feature before you’ve properly researched the token in question!
- Determine the Right Time to Buy – If you like the token’s fundamentals, you ought to consider its on-chain momentum in combination with its price. This is the way to get the timing right!
- Conduct an Instant Crypto Swap – If the previous step gives you the green light, swap your native coins or stable coins for that token. This is where the swap feature finally comes to play. And, at this point, you use it to buy the token. Plus, since you are already on the Moralis Money token page, using this tool’s swap feature is, without a doubt, the quickest way to swap crypto.
- Monitor Your Investments – With Moralis Money, you can automate this process using alerts and a built-in crypto portfolio manager.
- Sell Your Altcoins – If you wish to pocket your profits, you need to use the swap feature to sell your tokens.
- Rinse and Repeat!
What is a Crypto Swap?
A crypto swap is a tool or a platform that allows you to exchange one cryptocurrency for another. This is also known as “crypto swapping.” So, technically, every cryptocurrency exchange, whether centralized (CEXs) or decentralized (DEXs), matches this description. However, unlike some exchange interfaces, swaps typically prioritize simplicity.
As such, most crypto swaps include a selection field where you determine which cryptocurrency you are selling, a selection field where you determine which crypto you are buying, an entry field to enter the amounts, and a button to execute the trade. Plus, most swaps will also allow you to adjust the slippage.
That said, there are some important things you need to know before you start using swaps.
Be Mindful of Blockchain Networks and Trading Pairs
First of all, keep in mind that not all cryptos live on the same chain. As you may know, there are several reputable blockchain networks (e.g., Ethereum, BNB Chain, Polygon, Fantom, etc.) that support altcoins.
While many seasoned alts (particularly native coins) have smart contracts in place that allow you to transfer them among these chains, many newly minted coins don’t. Hence, you need to be mindful of the chain selection. That said, it’s worth pointing out that Ethereum remains the most popular choice.
Second, not every token can be directly swapped for any other token on the same chain. The keyword here is “directly.” Whether you use CEXs that offer swaps or DEXs, there are only specific trading pairs available. In most cases, trading pairs for supported tokens come in relation to the chain’s native currency (or its wrapped version) and supported stablecoins. This also brings us to yet another important distinction between exchanges and swaps.
After all, most swaps will allow you to swap any supported token for any other supported token even if there is no direct trading pair for the two currencies. However, in doing so, it will execute two or three trades, which means your gas fee will be higher.
For example, let’s say you are on the Ethereum chain and you want to swap token X for token Y. However, there’s no direct X/Y trading pair. Instead, token X has a liquidity pool with USDT, while token Y trades against wrapped Ethereum (wETH). In that case, an instant crypto swap may allow you to swap X for Y. But in the background, it would first exchange X for USDT, then USDT for wETH, and finally wETH for Y. Consequently, that would be a total of three on-chain transactions.
Different Kinds of Crypto Swap Services
Crypto swap platforms and services come in different shapes and sizes. We’ve already mentioned that they can be based on centralized exchanges or on decentralized ones. In the case of the former, you are giving up control of your assets, while with the latter, you actually utilize the power of peer-to-peer (P2P) trading. Hence, we prefer DEX-based swaps.
Furthermore, even DEX-based swaps vary. For instance, some focus on multiple chains (e.g., Uniswap), while others support one specific chain (e.g., PancakeSwap, QuickSwap, etc.). Also, some exclusively focus on the swapping feature, while others offer additional functionalities.
All in all, there are many crypto sites that use widgets to offer instant crypto swap functionality right on the spot. So, you can find NFT platforms, GameFi websites, online casinos, and much more with swap functionalities. But be careful not to connect your wallet to sites you don’t trust!
All these sites utilize the power of CEXs or DEXs either directly or indirectly via aggregators. This is also the method Moralis Money uses to bring you the quickest way to swap crypto – it uses the 1inch aggregator.
What is the Fastest Way to Swap Crypto?
When it comes to picking the quickest way to swap crypto, you have to consider various factors, including your familiarity with the platform.
However, generally speaking, the actual execution of instantly swapping tokens doesn’t depend that much on the platform. Instead, the key aspect of how fast the transaction will go through typically depends on the chain you are using and its current traffic.
So, it typically comes down to your preferences. However, considering the above-outlined holistic approach to altcoin investing, it can be quite time-consuming if you end up navigating different platforms for every step. And, since Moralis Money is the only platform that allows you to cover all those steps, we dare to proclaim it presents the fastest way to swap crypto.
After all, especially when dealing with new tokens, it can be rather time-consuming to find the right swap. But with Moralis Money, you have that token selected automatically when landing on its page. So, this can save you a lot of time down the line. Plus, it eliminates the risk of accidentally selecting the wrong token.
Moralis Money’s Instant Crypto Swap Tool vs Other Platforms
In one of our latest articles, we explored the best crypto swap platforms – Uniswap, PancakeSwap, Curve, dYdX, and Moralis Money. All these coin swap sites have similar, yet different, interfaces (see image above), and their core advantages also vary. However, overall, none of the other four contenders can compare with the power of Moralis Money.
Of course, you can use all of them to swap crypto assets (though many of them support a rather limited number of tokens). But for the most part, that’s all they are good for. And, by now, you know that using the swapping feature is only the fourth step in the “making money with altcoins” sequence.
On the other hand, Moralis Money enables you to cover all those steps. Not only is that very powerful, but it also saves you a lot of time! To be able to use the instant crypto swap feature right on the same page where you can determine if now’s the right time to buy the token is simply amazing!
However, it’s worth pointing out that if there’s a swap you prefer to use, you can continue to do so. Still, you’d want to use Moralis Money to cover other steps – starting by spotting the best altcoin opportunities at any given time.
We already showed you how to use the Moralis Money swap feature above. As for the other steps, make sure to use the tips below to help you get going with this powerhouse. It’s time you put the quickest way to swap crypto to practice!
Getting Started with Moralis Money – Quickstart Guide
Tip #1: Start finding the best altcoin opportunities by using Moralis Money’s core feature – Token Explorer:
- Use preset filters:
- Or, run your unique strategies:
- Tip #2: Save your winning strategies and start running them on autopilot:
- Tip #3: Select tokens with solid potential from your dynamic lists of altcoin opportunities and research the tokens in question:
- Tip #4: In case you heard about a token with promising potential elsewhere, use Moralis Money’s search feature to access the token’s page.
- Tip #5: Save tokens that you like and use alerts to automatically detect when its time to buy/sell them:
Instant Crypto Swap – Summary
The main takeaway of today’s article is that there’s a lot more to making money with altcoins than just using instant crypto swap platforms. If you covered the above sections, you now know that there’s a holistic approach to this feat. And it all boils down to the following seven steps:
- Find altcoin opportunities
- Research altcoins with potential
- Determine the right time to buy
- Execute an instant crypto swap
- Monitor your investments
- Sell your altcoins at the right time
- Rinse and repeat
The fact that you can cover all these steps with Moralis Money makes this tool the quickest way to swap crypto assets. As such, we showed you how to use the newly added swap feature early in the article. However, in the final section, we also shared some useful tips that will help you cover other steps as well.
So, it’s now up to you to take the necessary action and get ready for the upcoming bull market. And, if you are looking for the ultimate edge in your altcoin endeavors, make sure to lock in the Moralis Money Pro plan!