We will discuss about crypto swaps and particularly Atomic Swaps, a new way to do cryto swaps today. What does this really mean? Decentralized exchanges are competing with centralized exchanges and are using atomic swaps to compete with centralized fees and offer crypto traders a choice on how they want to transact and facilitate crypto transactions. Contrary to opinion, the way that cryptocurrencies are traded are usually thought to be decentralized, but in most cases, they are not. As the technology driving decentralized exchanges evolves, cryptocurrency users will have access to a truly decentralized means of trading crypto through atomic swaps, whilst being able to retain control over their digital assets at all times.

They can also be expensive. Whilst there are many options like BTC Robot that offer free 60 day trials, you will usually be charged a monthly subscription fee that will eat into your profit. They can also be expensive to set up if you have to pay someone to programme your bot. On top of that, you’ll need to pay to have your bot updated as the market changes. So, whilst bots can help increase your end of day cryptocurrency profit, there are no free rides in life and you need to be aware of the risks. Perhaps then, they are the best asset when you already have an established and effective strategy, that can simply be automated. The most useful cryptocurrency trading tutorial you can go on is the one you can give yourself, with a demo account. Firstly, you will you get the opportunity to trial your potential brokerage and platform before you buy. Secondly, they are the perfect place to correct mistakes and develop your craft. You’ll usually be trading with simulated money, so mistakes won’t cost you your hard earned capital. Once you’ve trialled your strategy and ironed out any creases, then start executing trades with real money.

Atomic Swaps: Underneath the Hood Take a look at the image above which has been taken from Coin Central. Let’s see what is going on here. Alexandra has some BTC and John has some LTC. They want to swap the coins with each other. The two of them then open up a payment channel. The instigator of this swap (let’s say Alexandra) then creates a contract address. He contract address is like a multi-lock safe that takes care of both of their funds. By creating the address, Alexandra deposits her BTC and produces a value as well. The value acts like the key while the hash generated from it will pretty much act like a lock for the safe, Upon doing this, Alexandra then sends the hash to John. John generates a contract address using the hash that has been given to him by Alexandra, John sends his LTC to this contract address. Only Alexandra can unlock the litecoin in this address because she has the value which generates that particular hash. Alexandra can get her LTC by signing a transaction for John’s contract address and John can retrieve the BTC by signing a transaction for Alexandra contract address. However, until now, John doesn’t know the value that generates the hash. So, how exactly is he going to unlock the address? See more details at Crypto Swap.

Speaking of KYC, Shapeshift caught flak when it announced that it would adopt a fully verified model, disincentivizing the same users who raised an eyebrow to Changelly’s policy. Citing pressure from regulators, the non-custodial exchange admitted that the move provoked the departure of many valuable API partners – but nonetheless, it remains a viable service for some. Another good pick is Atomiic.io.

The system is integrated into the largest cryptocurrency trading platforms. There is no deposit storage, only instant coin exchange in our service. So we are able to find the most profitable exchange rate for our users in a very short time. A project created for the convenience of customers. Our users don’t need to create accounts or store deposits in our service. Thanks to this, the users are protected from any kind of financial theft. We provide the best rates possible by comparing a wide range of reliable trading platforms. Source: https://atomiic.io/.