How To Use Multiswap
Last updated December 9, 2024
How to Use Coinrule's Multiswap On Coinrule
Multiswap 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 Multiswap?
Multiswap 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 Multiswap
You can find the Multiswap feature within your Coinrule dashboard or in your wallet modal.
Simply navigate to this section, and you'll see the option to "Multiswap" your coins for each connected exchange. See image
How Multiswap Works
- Select the Coin to Swap: In the Multiswap 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 Multiswap 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 Multiswap rule will be created and you can view the status of the swaps on the Activity Log. See images
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Benefits of Using Multiswap
- 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
Multiswap 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.