Paying in cryptocurrency is more common than ever. In fact, with lots of tokens and coins available in the market, it’s not just about Bitcoin (BTC) anymore. Some merchants and companies already accept Ethereum (ETH), Tether (USDT), and other tokens for payments, making crypto swapping, or the process of exchanging a crypto asset for another, more necessary as well.
Whether you need to convert crypto to build a specific portfolio, you prefer to receive a stable coin to keep a safe distance from volatility, or any other reason, we’re here to help you learn how to swap crypto in the most convenient way possible.
What is an Easy Way to Swap One Crypto for Another?
One of the fastest and easiest ways to swap crypto is using Ka.app’s Easy Swap Engine. Ka.app is an easy-to-use, cross-border crypto payment app. Its Easy Swap Engine feature allows users to quickly and automatically receive payments in their preferred crypto by just ticking a button in the app.
The current version of the app only accepts four cryptocurrencies: BTC, ETH, USDT, and the KASTA coin. But the team is already working on the second version of the app which will also allow you to use fiat currencies like Euro and the U.S. Dollar.
How to Sign up for a Ka.app Account
Before anything else, if it’s your first time hearing about Ka.app or if you haven’t signed up for a Ka.app account yet, here’s a detailed guide on how you can get started:
- The app is available on both iOS and Android so you can either download it from the App Store or Play Store.
- Open the app and sign up using your phone number, name, home address, and email address.
- Set up your pin code. All transactions will require your pin code so be sure to memorize it and avoid telling anyone for your security.
- Finish the Know Your Customer (KYC) verifications. KYC is a process that involves verifying the identification of customers to prevent fraud, corruption, money laundering, and terrorist financing. You can do complete them by providing a valid ID (e.g., driving licence, passport, residence permit card, visa, etc.) and proof of residency (e.g., utility bill, house purchase deed, bank statement, credit card statement, lease agreement, etc.)
How to Swap Crypto Using the Easy Swap Engine
Let’s say another Ka.app user wants to send you ETH but you prefer to receive it in BTC. You can enable the Easy Swap Engine to automatically receive all ETH payments (or all other currencies) in BTC by doing the following:
- Log in to your Ka.app account.
- Wait for a text message that contains the verification code and enter it on the app.
- On the dashboard, click the settings icon located at the upper right part of the screen.
- Click “Easy Swap.”
- Tick the “Enable Easy Swap” switch.
- Choose Ethereum on the first dropdown. You may also select all currencies if you want to automatically convert all payments into BTC.
- Choose Bitcoin on the second dropdown.
- Go back to the dashboard, and click the “Receive” button.
- Copy your Ka.app QR code, and forward it to the sender.
- Wait for the other user to send the payment.
How Long Does it Take to Swap Crypto?
Swapping crypto is fast with the Easy Swap Engine. This means you will receive the payment in your preferred currency as soon as the sender has completed the transaction. This applies to all transactions, even cross-border ones.
Ka.app has an internal virtual ledger that makes it possible to send and receive cryptocurrency quickly.
How Much Does Swapping Crypto Cost?
The cost of swapping varies depending on the amount and crypto you swap, but it’s definitely way cheaper than other conversion platforms. Swapping fees are charged in the source currency, which means if a user sends you ETH and you receive it in BTC, the fee will be charged in ETH.
Is there a limit on the Amount or Number of Times we can Swap Daily?
None. You can swap any amount of crypto as much as you want daily, weekly, or monthly.
How to Make Money Swapping Crypto
Did you know that you can also swap crypto for profit? You can swap your asset for a much cheaper token and then hold that token until it gains more attention and increases its price. For instance, you can set the Easy Swap Engine to receive payments into KASTA and hold them for the long term until you reach your target profit percentage.
Is it Safe to Swap Crypto in Ka.app?
Yes. Ka.app has two-factor authentication for the security of its users. You can only access your account by entering the verification code we will send to your mobile number, and you can only complete a transaction by entering your pin code correctly. In addition, we strictly conduct KYC checks and follow anti-money laundering (AML) guidelines to protect the company and its users against fraud, money laundering, and other illegal activities.
Do You Have Chat Support?
Yes, we have live chat support in Ka.app. Please don’t hesitate to reach out if you have questions or concerns about your transactions.
Can I View My Transaction History?
Yes. Just go to the dashboard, click the lower rightmost icon, and you’ll be able to see your transaction history. You can even sort them per type of transaction, such as the assets you’ve sent, received, deposited, withdrawn, swapped, and even your rewards.