A swap exchanges one cryptocurrency for another directly, without a traditional order book, often at a quoted rate.
Many wallets have a built-in swap feature. You select the two assets, enter an amount, review the rate and fees, and confirm.
Centralized exchanges let you trade pairs like BTC to ETH with deep liquidity. You need an account and may need to pass identity verification.
Decentralized exchanges let you swap directly from your wallet without an account, using liquidity pools to set prices.
Always review the quoted rate, the network fee and the price impact before confirming. Small slippage settings can cause failed transactions.
Swaps are convenient, but the rate you see is not always the rate you get. Review everything before you sign.