123swap Finance - seamless peer-to-peer crypto assets swap platform
Introduction:
Hello, This is an article about a promising project, 123swap, that's planning multiple project launches in 2021. The team at 123swap is continuing to find ways to swap, hold, send, receive, earn and invest on different chains more easily. For projects and users. 123swap currently supports the following blockchains: Ethereum, Binance Smart Chain, and Polygon.
What is 123swap?
123swap is a Blockchain platform that allows users to easily swap between various cryptocurrencies. The team at 123swap has also recently announced their plans to enable fiat trading pairs on their exchange, as well as plans for a new platform called “Crypto Swap”. We’ve interviewed the team at 123Swap and will be releasing an interview with them soon.
The Problem:
Right now, there are many exchanges that allow you to trade your cryptocurrency for other cryptocurrencies. However, the majority of these exchanges are only able to support trading pairs for one cryptocurrency or another (i.e., Bitcoin or Ethereum). As of right now, there aren’t any exchanges that allow you to directly exchange one cryptocurrency for another, without having to go through a different cryptocurrency first.
This means that if you wanted to trade your Bitcoin for Ethereum, you would have to first trade your Bitcoin for BTC Cash (or Lite coin, or whatever is supported by the exchange), and then finally exchange that BTC Cash for Ethereum. This process can be extremely time consuming and expensive (especially if you’re using an exchange that charges high fees).
The Solution:
123swap is a decentralized token swap platform that allows users to easily swap between multiple different cryptocurrencies. 123swap supports direct swapping between various cryptocurrencies on their platform. With the launch of their new “Crypto Swap” feature, users will be able to securely swap between various cryptocurrencies without having to first trade for BTC or ETH.
This means that if you want to swap from Bitcoin to Ethereum, you don’t have to first trade your Bitcoin for BTC Cash, and then finally exchange that BTC Cash for Ether. You can do all of this on 123swap in one single transaction.
How Does It Work?
In order to exchange different cryptocurrencies on 123swap, users must deposit their cryptocurrency into the 123swap smart contract. After the funds are deposited into the contract, they become locked and cannot be withdrawn or moved outside of the smart contract. The user then selects the amount of cryptocurrency they wish to exchange and which currency they would like to receive in return (for example, if you are swapping from Bitcoin to Ethereum, you would select the amount of BTC you want to receive and select Ethereum as the currency that you wish to receive your BTC in).
After selecting the amount of cryptocurrency and the currency that you want to receive, 123swap will calculate the total amount of cryptocurrency that is needed in order to complete your transaction. The user will then be able to approve this transaction by clicking on “Accept”. This will send the transaction through a series of smart contracts and back end processes before finally reaching your intended destination cryptocurrency.
Once this has been completed and all transactions have been processed, users will receive a notification on their respective devices with details regarding their transaction. In addition, users can also check the status of their transaction via the “Transaction History” page.
The final step to completing your exchange is to withdraw your cryptocurrency to a different wallet. To do this, users will need to go to their respective wallets and select “Withdraw”, where they will be able to select which currency they would like to receive and how much they would like to receive in that currency. After selecting this, 123swap will calculate how much cryptocurrency you will need and then send through a series of smart contracts and back end processes before finally reaching your intended destination wallet.
Conclusion:
123swap is a truly groundbreaking development that will allow people to easily and securely trade between various cryptocurrencies without having to go through the process of exchanging one cryptocurrency for another, and then finally exchanging the newly acquired cryptocurrency for the one that they wish to use.
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Official Information:
Website: https://123swap.finance/
Whitepaper: https://docs.123swap.finance/
Telegram: https://t.me/my123swap_chat
Facebook: https://www.facebook.com/123swapfinance/
LinkedIn: https://www.linkedin.com/company/123swap/
Reddit: https://www.reddit.com/r/123swap/
Medium: https://medium.com/@123swap
Instagram: https://www.instagram.com/123swapfinance/
Twitter: https://twitter.com/123swapfinance
Author Information:
Bitcointalk username: Rangerman
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2312163;sa=summary
Telegram Username: @Rangerman23
BSC - BEP20 Wallet Address: 0xDFBC2D5A13A1E3Cd6527ae3E358A6Ec26bEeEbA6