SwapSpace launches Private Swaps

Private Swaps enforce privacy through a new confidential mode supported by Baltex and SecureShift.

In a bid to provide users with more privacy, SwapSpace has recently introduced Private Swaps. It is a new confidential mode through which users can pick alternative exchange routes to reduce transaction visibility on public blockchains.

What private swaps are and how they work

Private Swaps work similarly to standard crypto exchanges, but in confidential mode. Baltex and SecureShift have enabled this new facility.

In a traditional exchange setting, swap execution follows the shortest route. With Private Swaps, however, the direct connection between wallet activity and transaction visibility is minimized through alternative exchange routes.

That said, SwapSpace limits this mode to certain offers. Those that do get a “Private” tag attached to them, alongside information about how the private exchange offers compare to standard swaps.

What private swaps give to users

With the introduction of Private Swaps, users get another layer of flexibility in the exchange process.

The following are the key benefits of the new system.

• Users get more control over how their exchange activity appears on public blockchains.
• Privacy-focused exchange routes from trusted providers become available.
• Transparency is enforced through a visible side-by-side comparison of Private and standard exchange offers.
• Users will get access to competitive rates across available Private offers.
• Thousands of cryptocurrencies are supported through this mode across multiple blockchain networks.

To rebalance portfolios or move assets between wallets, Private Swaps are useful. The new mode will also enable users to explore new blockchain ecosystems and have greater control over routine transactions and on-chain appearance.

Expressing excitement about the new mode, Ryan Martin, CPO at SwapSpace, said that Private Swaps are born from the belief that users should have more choice when it comes to swapping their assets.

“Private Swaps provide our customers with another layer of privacy and more control over their on-chain exchange activity,” the CPO added.

Private Swaps trading quest

In order to ease investors into the new mode, SwapSpace has launched a Trading Quest with a total prize pool of 1,500 USDC.

The quest will run from June 16th to June 30th and will allow SwapSpace users to earn XP by completing private mode swaps.

Once the competition ends, rewards will go to the top 50 participants.

How to perform Private Swaps

Step 1: Choose a currency pair and insert an amount

Choose the asset you want to swap, and then the asset you want to receive. After that, enter the amount and click the “View Offers” button.

Step 2: Filter for “Private” offers

Once the results page has finished loading, open the “Filter by type” menu and select “Private.”

You will see a list of all qualifying offers in the results.

Compare routes based on exchange details such as rate or estimated completion time.

Step 3: Execute a swap

Once you have assessed all exchanges, pick one that suits you and proceed with the normal swapping process: entering the destination wallet address and completing the transaction.

Keep in mind that Private Offers are not available for all trading pairs.

Baltex and SecureShift Supporting Private Swaps

Private Swaps are now accessible through Baltex and SecureShift on supported trading pairs.

To learn more and compare offers, visit the Private Swaps page.

About SwapSpace

SwapSpace is a crypto exchange aggregator with more than 45 partners and 3,300 cryptocurrencies available for fast and seamless swaps at competitive market rates.

Since 2019, the platform has simplified the crypto exchange process by aggregating offers from leading providers and arranging them based on the top available rates with no SwapSpace markup.