Did you know that you can swap between 250 cryptocurrencies on a single platform – LetsExchange. This exchange provides a convenient and secure way to convert cryptos quickly.
Though the platform was launched only in March 2021, it succeeded in earning crypto traders’ trust in such a short time. Besides experienced investors, it also attracts newcomers due to its user-friendliness.
Let’s deep dive into its features and learn more about how it works.
Advantages
- Over 250+ supported coins
- No registration or verification is required for crypto swap
- Possibility to choose between Floating or Fixed conversion rate
- Transactions are executed within minutes
- Availability of a secure encryption technology
Disadvantages
- No option to buy crypto with a fiat currency
- No crypto wallet is available
- The minimum swap amount is pretty high
How To Swap Cryptocurrencies on LetsExchange
As mentioned earlier, LetsExchange supports over 250 cryptocurrencies and allows trading between 40 thousand crypto pairs. The platform requires no registration or identity verification for executing the crypto swap. Meanwhile, all exchanges on the platform are fast and secure due to its advanced encryption technology.
Let’s see how to trade a crypto pair on LetsExchange, e.g., BNB to ETH.
- First, read everything about this pair here https://letsexchange.io/exchange/bnb-to-eth.
- On the right-hand side of your screen you can see the conversion widget. Choose the exchange rate – Floating or Fixed.
- Then, enter the amount of BNB you want to convert in the “You Send” field.
- The system will automatically count and fill in the “You Get” field with the amount of ETH you’ll receive after conversion.
- Next, provide your ETH wallet address.
- If you have a promo code, apply it to enjoy the benefits.
- After checking the inserted info, click “Let’s Exchange.”
- You can choose to be notified via email when the transaction is completed. You can also request a receipt with all transaction details.
Floating Vs. Fixed Exchange Rates
As mentioned earlier, LetsExchnage – crypto exchange online has two exchange rates – Floating and Fixed. Knowing the difference between them is vital since the amount you receive after conversion highly depends on the exchange rate.
By choosing the “Fixed Rate” option, you notify the system to exchange the cryptos at the current rate. It’s a smart choice if the exchange rate is favorable, and you want to be protected from any fluctuations in the rate.
The “Floating Rate” option means that the actual exchange rate may differ from the rate at the time the cryptocurrency was submitted for conversion. The exchange process takes up to 30 minutes, while the conversion rate may change any second. As a result, you can get a better deal or lose a few coins.
Transaction Fees at LetsExchange
There is no specific information regarding the transaction fees. However, according to LetsExchange, the transaction fee depends on the network fees of the coins and may vary over time. The good news is that the platform doesn’t have any hidden costs or extra charges. All the fees are already included in the trade amount.
To sum up, despite being on the market for a short time, LetsExchange could acquire an army of loyal traders. They love swapping cryptos fast at favorable rates.
