Comprehend the general risks in “Swap” via Unstoppable Wallet
Do you like to swap crypto assets?
Several crypto wallets support this action and one among them is Unstoppable.
Unstoppable Wallet is an emerging crypto wallet carrying amazing features, making it stand out from the rest of the wallets existing in the crypto market. If you are an active investor, then you probably have general information relating to the wallet-supported activities/operations. One of the most common activities in which most investors are interested in is “Swap”. Simple to perform this action does carry some risks that are expected to arise.
Are you aware of those risks?
If not, then take a quick tour of this read.
Expected risks that might take place while performing Swap
Having knowledge of the general risks that are associated with the swap action helps investors in taking precautions resulting in the successful completion of the transaction. We have tried to summarize a few of them in this section of the read, and they are enlisted under:
Cost involved in a swap transaction
While performing the swap function on a DEX, the users are required to pay two types of fees: a transaction fee and a swap fee. Remember, DEXs on different blockchains work differently having different sets and liquidity levels.
Transaction fee: Paid to the miner on the Ethereum blockchain. This fee depends upon the network condition.
Swap fee: Goes to the DEX for settling the order. This fee is determined by the order size.
Swap deadline
Another risk that is involved with the Swap action when performed through Unstoppable Wallet is the transaction deadline. The average time within which the swap is to be performed is around 20 minutes. Along with the time frame, the fee that is associated with the transaction should also be focused on. For instance, if you are going to perform a swap at a low fee then the probability of swap failure goes high.
Price Slippage
Price slippage refers to the difference in the token price at which a swap is ordered and the price at which it gets completed. It can either be positive or negative, depending on the direction of the price movement. This risk is uncontrollable i.e. it cannot be governed by the investors. The sole reason behind it is that this price fluctuation is totally dependent on market fluctuations. This risk is associated with the swap action irrespective of the fact if you are performing it with the Unstoppable Wallet login or any other crypto wallet.
Final Verdict
In addition to the risks that have been covered in this read, there are several other risks that might take place while performing the swap action. To know the other risks relating to the Unstoppable Wallet, dive into its “FAQ” section and get answers to the same. From there you can even check other significant information relating to the Swap function through this wallet. Take a quick tour of this wallet before taking any decision or performing any actions.