Swapnex Introduces A New Exchange Feature!

By May 14, 2022Layer2
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Swapnex, a multifunctional arbitrage trading platform availing a wide range of cryptocurrency exchanges such as Binance, Coinbase, Bithumb, Kraken and many others, has recently announced a new feature to their suite of services — a built-in exchange, right on the platform itself!

Arbitrage is the process of buying an asset low on one platform and selling it high on another platform, making use of the price discrepancy between the two to make a profit — which is what Swapnex essentially does, because it has a large volume of liquidity spread across different exchanges, and hence able to execute arbitrage trades simultaneously. Based on my experience with Swapnex for the past 1 month, it has provided me with a daily 2.1% return of investment. For a more detailed overview on Swapnex, check out my previous article here, and a review 2 weeks down the road.

  • Supports only a few assets for now — ETH and USDT across the different blockchains of ERC20, TRC20 and BEP20.
  • Swaps are processed within 3–10 minutes.
  • Swapnex takes a 5% commission fee from the swap.

The exchange works great for converting USDT from the expensive ERC20 to the more affordable BEP20 and TRC20 blockchains. Withdrawal fees for USDT on the ERC20 blockchain currently cost 30USDT per withdrawal — a hefty sum to pay, especially if the withdrawal amount is small. Converting this to TRC20 and BEP20 entitles the user to a free withdrawal on these blockchains! However, for larger withdrawals of >600 USDT on the ERC20 network, paying the 5% commission fee is less worthwhile compared to bearing the ERC20 withdrawal fees.

Indeed, as the exchange only currently supports ETH and USDT, its practical functionality is rather limited for now. As it expands to support more coins in the future, the exchange will add greater value to the value of Swapnex’s suite of services.

I started investing on Swapnex 27 days ago, with 4 auto trading bots each with a 50USDT capital, running 3 trades per day for 60 days. After 27 days, the arbitrage trades from the 4 running bots have generated a profit of 103USDT in total, which is a rather impressive 52% ROI of my initial capital of 200USDT! I am withdrawing my profits in USDT TRC20 daily (after all, withdrawals are free on the TRC20 blockchain!) — planning to start compounding on the platform, once I secure my capital.

Being a relatively new player to the cryptocurrency industry, Swapnex has its own fair share of controversies — there are mixed reviews online, however majority of them have been positive. Personally in my own limited experience with Swapnex, I have encountered no problems on the platform — withdrawals have been prompt, and the support team on telegram helpful. Always do your own research, and never invest any amount of money that you cannot afford to lose! If you’d like to try out cryptocurrency arbitraging with Swapnex, you can sign up here! Stay safe and happy trading.

My previous articles on Swapnex

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