How to Use Coinrule's Quick Swap On Coinrule
Quick Swap is designed to give you more flexibility and efficiency in managing your cryptocurrency portfolio by allowing you to convert selected coin balances into your preferred base currency instantly.
What is Quick Swap?
Quick Swap is a feature that enables you to convert the balance of selected coins into a different base currency of your choice, using a market order. This can be particularly useful for portfolio rebalancing, taking advantage of market opportunities, or simply consolidating your holdings into a preferred currency.
How to Access Quick Swap
You can find the Quick Swap feature within your Coinrule dashboard, in the 'wallet modal'. Simply navigate to this section, and you'll see the option to "Quick Swap" your coins for each connected exchange. See image
How Quick Swap Works
Select the Coin to Swap: In the Quick Swap interface, select the coin balance you wish to convert. See image
Choose Your Base Currency: Select your preferred base currency to which you want to convert your chosen coin.
Conversion Using Market Order: The conversion will be executed using a market order. This means your swap will be processed at the current market price for the coin pair, ensuring a swift execution.
Availability: It's important to note that Quick Swap can only be used if a direct coin pair exists with your selected base currency. If no such pair exists, the swap cannot be completed.
5. Swap: Once you click the 'swap' icon above, a Quick Swap rule will be created and you can view the status of the swaps on the Activity Log. See images
Benefits of Using Quick Swap
Speed: Convert your cryptocurrencies quickly to react to market changes or opportunities.
Simplicity: A straightforward process that makes managing your portfolio easier.
Efficiency: Helps in rebalancing your portfolio without the need to manually search for coin pairs or execute multiple trades.
Conclusion
Quick Swap is a valuable tool for Coinrule users looking to streamline their trading strategy and portfolio management. By understanding how to use this feature effectively, you can make more informed decisions and execute trades more efficiently.