If you want to swap one token for another, you can use decentralized exchanges without passing KYC procedures and dealing with intermediaries.
Let's look at 1inch, as an example. It has an enormous advantage, as it is not just an exchange, but an aggregator. 1inch aggregates prices of cryptocurrencies from various DEXs, thus offering its users the best exchange terms.
For example, you want to swap MATIC for AVAX.
Open https://1inch.io , tap the "Launch dApp" button and you will see the Home page of the cryptocurrency exchange platform.
You can also change the interface to different languages. For this, select Settings (gear-wheel icon in the bottom right corner of the page and change the English language to different languages).
Now you can swap coins at the current exchange rate.
To do this, you need to:
- Select the network in the upper right corner of the screen (in our case it is Polygon).
- Select the coins you are going to swap (in our case it is MATIC/AVAX) and indicate the amount.
- You can also check the gas price (transaction fee) and change it if you want. Important! Keep in mind the lower fee you set, the slower your transaction is validated by the blockchain.
- Also, you can see the routing, i.e. the dApps for your swapping.
- Now you need to connect your Tangem wallet to 1inch using WalletConnect protocol. Tap on the "Connect Wallet" button.
It takes three steps to connect the wallet:
- Accept the terms of service and privacy policy;
- Choose a network (in our case it is already chosen and it is Polygon);
- Choose a wallet (here you need to click on the WalletConnect icon).
Tap the "Connect" button on the screen.
Open Tangem App and tap "Start".
Sign the terms and conditions on the 1inch as well as in the Tangem app.
Then "Swap".
Tap the "Confirm swap".
Go back to the Tangem app and confirm the swap.
Wait a little bit, the swap is complete.
To end the session, click on your address, and then click on the exit sign to disconnect Tangem and 1inch.
