A Beginner's Guide to Atomic Swaps

P2P Atomic Swaps

1. Where is the money locked in case of a swap transaction?

Every P2P atomic swap confirmed in Riverex is locked in a smart contract.

2. What is the difference between an Atomic Swap and a Normal Swap?

A normal swap refers to exchanging one coin or token for another in the same blockchain. An atomic swap is the exchange of cryptocurrencies from separate blockchains.

3. Does Riverex support stablecoins for swapping?

Currently, the platform accepts stablecoins like BUSD, USDT, and DAI; additional stablecoins will be added in the future.

4. Is there a daily limit value of P2P transactions I can do in a day?

No, there is no value or transaction limit in executing P2P transactions in Riverex.

5. How long does it take to complete a swap transaction?

Less than five minutes, depending on how fast the other party completes his end of the transaction.

6. A user privately sent me a swap request, but I disagree with the rate; how will I decline the request?

You can tap the Counter label and send your offer to the swap requestor. 

7. How to trade crypto using the Riverex P2P mechanism?

We have curated a step-by-step guide on executing P2P trading on Riverex.

8. What is the transaction fee for using the Riverex Atomic Swap feature?

Riverex charges a 0.03% transaction fee for an atomic swap transaction. Here is a list of the fee structure in the Riverex platform.