Academy › Swap basics › Lesson 1
How a crypto swap works, step by step
A swap looks like one action, but it is several steps chained together.
01The quote
You choose the coin you send, the coin you want and the amount. The service shows an estimate of what you will receive.
02The deposit address
The service creates a deposit address for this order only. Funds sent there are linked to your swap.
03Confirmations
The service waits until your deposit has enough network confirmations before it treats it as received.
04The payout
The other coin is sent to the address you entered. The time this takes depends on both networks.
Key pointA swap is quote, deposit, confirmations and payout; most delays come from the confirmation step.