If you have some experience with other popular DEX swaps, the above animation will be all you need to start using Moralis Money’s swap feature. After all, it’s very intuitive and allows you to swap ERC20 tokens with ease. However, since many of you are just entering the crypto space, we decided to break things down into individual steps of how to swap ERC20 tokens.

In addition, below the detailed step-by-step guide, you can learn why you should swap tokens using Moralis Money. Furthermore, In that section, you will find out what makes this Ethereum network swap safe and cost-friendly. While we’ll focus on showing you how to swap on the Ethereum network herein, the principles are the same for other chains that Moralis Money supports. So, for instance, you’ll also be able to swap Polygon tokens, coins on BNB Smart Cain, Fantom, and other popular EVM-compatible networks.   

However, before we dive into the individual steps, you need to take care of some prerequisites.

Prerequisites

  • Get your Web3 wallet ready
  • Add funds (ETH) to your wallet 

Whether you wish to use Moralis Money’s instant crypto swap feature or any other DEX swap, you need an active Web3 wallet. Fortunately, these days there are many quality options at your disposal. However, when it comes to Ethereum and other EVM-compatible chains, MetaMask remains the most popular choice. 

So, if you don’t have your Web3 wallet set up yet, follow our guide and set up a MetaMask wallet today. 

Step-By-Step Guide-How to Swap ERC20 Tokens-prerequisites-get-Web3-wallet

By having a wallet, you’ll be able to connect to the Moralis Money website. That said, in order to swap ERC20 tokens, you will also need cryptocurrencies. An essential crypto for every Ethereum network swap is ETH. This is Ethereum’s native currency and is used to pay transaction gas fees. Consequently, you always need to have a sufficient amount of ETH in your Web3 wallet to swap on the Ethereum network. 

You can swap ETH for most ERC20 tokens, either directly or via wrapped ETH (wETH) or stablecoins (e.g., USDT). So, having enough ETH is essentially all you need. However, you can also have ETH for gas and other ERC20 tokens (stablecoins or other alts) to swap for other tokens.

Many Web3 wallets now offer a fiat on-ramp feature, so you can use your credit card to buy ETH directly from your wallet. Alternatively, you need to use one of the reputable centralized exchanges (CEXs) to cover that part. 

Step-By-Step Guide-How to Swap ERC20 Tokens-swapping-tutorial

How to Swap ERC20 Tokens: Full Step-By-Step Guide

With your Web3 wallet ready and enough ETH in it, you are ready to learn how to swap ERC20 tokens. Essentially, you want to complete the following five steps:

  1. Connect Your Wallet to Moralis Money
  2. Find an ERC20 Token on the Ethereum Network to Swap
  3. DYOR: Research the Token
  4. Select the Token Pair and Amount
  5. Swap ERC20 Tokens

As such, let’s take a closer look at each of the above-outlined steps.

Step 1: Connect Your Wallet to Moralis Money

Once on the Moralis Money homepage, hit the “Sign Up / Sign In” button:

Step-By-Step Guide-How to Swap ERC20 Tokens-step-1a

After hitting the above button, you’ll need to choose the method you wish to use to log in. Make sure to select the “Login via Wallet” option:

Step-By-Step Guide-How to Swap ERC20 Tokens-step-1b

Once you click on the above-marked button, you will need to hit the “Connect” button:

Step-By-Step Guide-How to Swap ERC20 Tokens-step-1b2

The above button will take you to the step where you get to select a wallet you wish to use. If you follow our recommendation, you will need to select “MetaMask.” However, if you wish to use any other wallet, select accordingly:

Step-By-Step Guide-How to Swap ERC20 Tokens-step-1b3

Once you select your preferred wallet, it will prompt you with a confirmation message you need to confirm. Then, you can proceed with the verification. So, just click on the “Verify” button:

Step-By-Step Guide-How to Swap ERC20 Tokens-step-1c

The above button will prompt your wallet and you will need to sign a verification message: 

Step-By-Step Guide-How to Swap ERC20 Tokens-step-1c2

Finally, you will know that you’ve successfully completed the first step when you see the “success” message:

Step-By-Step Guide-How to Swap ERC20 Tokens-step-1d

Step 2: Find an ERC20 Token on the Ethereum Network to Swap

Before you can actually swap on the Ethereum network, you need to decide which ERC20 token you wish to focus on. Fortunately, Moralis Money’s primary function is to help you find the best altcoins opportunities. However, since this part is not the focus of today’s article, you can learn more about it from our article teaching you how to find tokens before they pump

So, if you’ve come to Moralis Money not knowing which token you wish to swap, you ought to use the above link. It will teach you to generate your own dynamic lists of altcoins with potential, and then you’ll be able to select the tokens by simply clicking on them. 

On the other hand, you may already know which altcoin you wish to swap on the Ethereum network. In that case, you just need to know the token’s name, symbol, or contract address and use the detail in Moralis Money’s search box:

Whether you select a token from any of your dynamically generated lists of altcoins or use the search option, you will land on that token’s page.

Step 3: DYOR: Research the Token

Moralis Money token pages are incredible. They provide you with all you need to research altcoins properly, which is imperative!

While researching, you might want to explore the project’s official website and socials. You should also consider the token’s distribution, price action, smart contract security, and more. Fortunately, all this information awaits you on the Moralis Money token pages.

Once you use those details and conclude that the token deserves your attention, it’s time to look closely at its on-chain metrics. Make sure to view those details on different timeframes to determine how they are developing through time:

Step-By-Step Guide-How to Swap ERC20 Tokens-on-chain-metrics-on-Moralis-Money-token-pages

Since on-chain activity always precedes price action, real-time, on-chain data will help you get your timing right. Essentially, these insights will tell you whether or not now’s the right time to buy/sell!

Here’s a rule of thumb:

  • If the on-chain momentum is increasing, the price will move to the upside.
  • If the on-chain momentum is decreasing, the price will move to the downside. 

In addition, reliable on-chain metrics can also help you spot and avoid crypto pump and dump scams. 

Note: For more details regarding on-chain data, dive into our guide on blockchain analytics.

If the on-chain metrics tell you that the timing is not right, you can use the “Create Alerts” button to keep an eye on specific metrics on autopilot. That way, you get to create your own crypto pump detector.

Once you conclude that the time to buy or sell is right, it’s finally time to swap on the Ethereum network. So, focus on the swap feature that awaits you on every Moralis Money token page.

Step-By-Step Guide-How to Swap ERC20 Tokens-swap-feature-on-Moralis-Money-token-pages

Step 4: Select the Token Pair and Amount

Once you visit the Moralis Money token page for the altcoin that you are interested in, that token will automatically be selected. As such, you do not have to worry about landing on the wrong trading pair. 

So, you only need to think about the asset you are selling. In most cases, that will be ETH, wETH, or one of the popular stablecoins (e.g., USDT). However, you can use any other ERC20 token that may be in your wallet you wish to sell. 

Since your Web3 wallet is already connected, you can simply select one of the compatible tokens from the drop-down list. To access that list, hit the “down” arrow icon next to the default currency:

Step-By-Step Guide-How to Swap ERC20 Tokens-swap-feature-select-sell-asset

After selecting the “sell” asset, you also need to enter an amount. This is where you can also use the “Max” button to use the entire balance of the cryptocurrency in question.

Note: If you are using ETH as a “sell” asset for your Ethereum network swap, you can’t use it all. Remember to always leave enough ETH to cover the gas fees!  

Here’s also an example video of selecting the token and entering its value:

Step 5: Swap ERC20 Tokens

We’ve reached the final step of this “how to swap ERC20 tokens” guide. This step is all about executing your Ethereum network swap. So, use your Web3 wallet to sign the on-chain transaction related to your swap and pay the gas fee.

In fact, you need to execute two transactions. The first one approves the spending of the “sell” token, and the second actually executes your particular swap on the Ethereum network:

Where to Swap ERC20 Tokens?

  1. Uniswap: Uniswap is one of the most well-known and widely used decentralized exchanges. It utilizes an automated market maker (AMM) system, providing liquidity through smart contracts and allowing users to easily swap ERC20 tokens in a trustless and efficient manner.
  2. SushiSwap: SushiSwap is another popular AMM-based DEX forked from Uniswap. It offers additional features and rewards to liquidity providers, making it an attractive option for those seeking to participate in liquidity provision and earn rewards.
  3. Balancer: Balancer is a DEX that enables users to create custom liquidity pools with multiple tokens and varying weights. This design provides better liquidity management and potentially lower slippage for larger trades.
  4. 1inch: 1inch is a decentralized aggregator that searches multiple DEXs to find the most favorable prices for ERC20 token swaps. By splitting orders across various platforms, 1inch aims to provide users with the best possible rates.
  5. Curve Finance: Curve Finance is optimized for stablecoin trading, offering low slippage and reduced fees for stablecoin-based ERC20 token swaps.
  6. Moralis Money – Moralis Money offers a range of features that make it the ultimate tool for crypto traders. In short, these consist of Token Explorer, Token Alerts, and Token Shield. Furthermore, leveraging the 1inch DEX aggregator, it provides users with the best swapping fees and token prices available.

Why Swap ERC20 Tokens Using Moralis Money?

Along the above “how to swap ERC20 tokens” journey, you might have wondered why to use the Moralis Money swap features and not some other swap or DEX. If so, this section will address some of those concerns. However, it’s worth pointing out that if there’s a particular swap you prefer, by all means, use that one.

But since there’s no better tool for finding altcoin opportunities, researching individual alts, and determining if now’s the right time to buy/sell, it will be most convenient to just use the swap feature right there in front of you on Moralis Money.

So, the convenience of covering all the steps involved in making money with altcoins in one place is definitely an important reason why you should use the Moralis Money swap feature. However, there are two additional aspects that will help you realize that Moralis may just be the best Ethereum network swap platform. You can find what they are below.

Moralis-Money-makes-Ethereum-network-swap-safe-and-affordable

Swap ERC20 Tokens on Ethereum Safely

Like in many industries, scam artists are lurking in every corner. Hence, you need to be extra cautious and use every safety measure you can get your hands on. Fortunately, Moralis Money helps you in that aspect in several ways.

First of all, it deploys the Token Shield feature to your search queries. The latter gives every alt that matches your search criteria a security score (1-99). These scores come in color-coded shields to help you intuitively spot more dangerous tokens. Of course, you can find those scores on the various Moralis Money token pages as well.

Moralis Money further protects you by offering the “Security” section on every Moralis Money token page. This is where you can see if a token’s smart contract has any alarming characteristics. Plus, using the “Bubble Chart” section, you can also check if the token’s distribution is properly decentralized.

Nonetheless, it’s pretty common for inexperienced traders to land on the wrong trading pairs when using other swaps. But since the Moralis Money token page automatically selects the token you are interested in, there’s no such risk.

Step-By-Step Guide How to Swap ERC20 Tokens-Moralis-Money-utilizes-1inch-aggregator

Get the Best Price Possible When Executing an Ethereum Network Swap

Did you know that Moralis Money is one of the cheapest crypto swap platforms out there? In order to bring you this practical, economical, and secure way to swap on the Ethereum network, Moralis Money utilizes the power of the 1inch aggregator. As such, it is able to always find the best path for you to swap your tokens in the most affordable way. 

Step-By-Step Guide How to Swap ERC20 Tokens - Moralis-Money-Pro

Swap ERC20 Tokens Like a Pro

Practice makes perfect! So, to become good at using any Ethereum network swap, you need to practice. However, we assure you that using Moralis Money is as straightforward as it gets. As such, you don’t need much practice to become completely comfortable with swapping ERC20 tokens.

However, there is another aspect that will give you that “Pro” title. 

While Moralis Money is free and available to anyone with internet access, the free plan comes with certain limitations. Fortunately, you can easily overcome a part of these limitations by getting the Starter plan. However, if you are serious about your altcoin investing, you’ll want to unlock the full power of Moralis Money by subscribing to the Pro plan!  

Morali-Money-plans

Step-By-Step Guide: How to Swap ERC20 Tokens – Summary

In today’s article, we laid out the entire five-step process of using Moralis Money to swap ERC20 tokens on the Ethereum network. If you covered the above sections, you now know how to execute each of these five steps and, in turn, successfully complete any Ethereum network swap. 

Along the way, you also learned that the Moralis Money swap feature is essentially just a cherry on top. After all, the real treasure lies in spotting the best altcoins opportunities early and being able to get entry/exit timing right on those coins. That is exactly what Moralis Money’s core features are all about.

So, make sure to get familiar with this ultimate on-chain analysis tool today and make the most of the upcoming bull run! 

https://secure.gravatar.com/avatar/c2302e6fd5cb280211b39010cc15d17c?s=96&d=mm&r=g
WRITTEN BY Matic PircI am an SEO writer, a content creator, a digital marketing specialist, and above all an entrepreneur, with a strong passion for crypto. I believe blockchain technology has a massive potential in helping us create a better, more just, transparent, and globally united future.
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