Hello everyone, today I am going to talk about metamask swap
What is Metamask swap?
Metamask swap is a new feature of metamask where you can exchange your coins or tokens for any other coins available or supported by metamask.
How to swap a token using the Swaps feature on MetaMask?
- First, you need to open the MetaMask extension or Mobile app.
- Then click or tap the ‘Swap’ button.
- Choose the tokens you want to swap and the amount of token, then choose slippage tolerance and click ‘review swap’
Then metamask is checking the prices and all. Remember to check the price or the rate before you proceed because sometimes gas fees are very high like on Ethereum so better check it first before you swap so that you won't lose a lot of money. After you compared all available quotes and selected the best one click on ‘Swap’ and wait until the transaction completes.
Why Metamask swap is better?
We can use a DEXs such as Uniswap, SushiSwap, 1inch, ParaSwap, but if you want the best prices and reduced gas costs Metamast swap is the best option because Metamask swaps combine data from multiple decentralized exchange aggregators, and individual DEXs to ensure Metamask users always get the best price with the lowest network fees.
Also, there is a rumor about Metamask airdrop. Metamask doesn’t have a token yet but could potentially introduce a token in the future. There is a rumor that making a swap on the platform would make you eligible for an airdrop once they create their own token. Therefore a single swap on Metamask swap is not a stupid idea considering the potential airdrop.
Hope you found today’s article helpful. If you want to learn more about trading follow me at @fizzonmyjayyce. Have a nice day :)