In order to makea trade action successful, investors do need to perform a couple of activities beforeinitiating a particular task or operation. Doing some research and otherrelated tasks helps investors in carrying out the complete trade actionseamlessly.
One of the majorand highly practiced crypto actions is the swap, but do you know that there arealso some preparations that users need to make?
Through thisread, we have tried to summarize the most important actions that you need totake for ensuring a successful swap via the MetaMask extension. Moreover, wehave also tried to cover the basic yet important information that you shouldknow before engaging in the swap.
Whatswaps you can currently enjoy using MetaMask?
Swap refers tothe process wherein the users swap (exchange) one token for the other. Simpleto perform this action is majorly supported by all the crypto wallets and it isconsidered as a highly convenient method.
This walletsupports the following swaps in both manners i.e. whether you are performing aswap using the MetaMask login or through the mobile app.
The swaps arecurrently available on:
Ø EthereumManniet
Ø Polygon
Ø Optimism
Ø Arbitrum
Ø BNBSmart Chain, and
Ø AvalancheC-Chain
Tasksyou should complete before performing a swap
Going to indulgein a swap function?
That’s great,but do you know that there are certain tasks that you should perform to make aswap successful?
Here are a fewtips/tasks that you should follow before performing a swap function.
Performyour own research first:Researchingthe task that you are going to perform is one of the healthiest trading practices.If you get satisfied with all the research aspects, then only you should takethat particular move. Here, users are asked to go throughthe complete investigation even if the token complies with the ERC-20standard.
Anticipatingslippage cost:Slippageaffects the complete swap action. It is referred to as the difference betweenthe price that you click on the checkout page of the wallet and the actualprice at which the swap takes place. As the crypto market is highly volatileand prices fluctuate from time to time, thus, it becomes quite important to focuson this factor irrespective of the method you are choosing to perform a swapi.e. a MetaMask extension or mobile app.
Seekassistance on MetaMask swaps only:Another important factor that you should always remember is that the MetaMasksupport team provides assistance only on the swaps that are made by using thewallet swap button. Alternatively, if a user performs a swap directly on adifferent platform or DEX, then the team doesn’t assure to give them adefinitive guide i.e. they can provide general assistance over that concern.
Tryto add custom tokens manually:Thesetokens are not common and are listed on MetaMask’s list of standard tokens. Thus,users have to add them manually.
FinalLines
Theabove-mentioned prerequisites of swap help in making the swap successful. Swapcan be performed throughthe MetaMask login mobile app, and Portfolio aswell depending on your preference and convenience. Further, one more thing thatyou should remember is that MetaMask acts as an aggregator/intermediary whenyou avail of the service of MetaMask swap. To get detailed information relatingto the Swap function, you can refer to the “Support” page of the wallet. Evenafter navigating through the provided page,if you find difficulty, then get intouch with the customer service team of the wallet.