Crypto Trading and Token Swap
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What is a token swap?
A token swap is an exchange of one crypto asset for another, usually facilitated through a decentralized exchange or specialized exchange service. The term may also mean the migration of a crypto asset from one blockchain to another.
"A token swap can refer to one of two different processes.
First, the direct exchange of a one crypto asset to another between two users — say, from ETH to BTC — which is usually facilitated through a special exchange service or decentralized exchange (DEX).
Second, the migration of a crypto asset from one specific blockchain protocol to another — like, for example, if a token originally built for the Ethereum blockchain was redesigned to run on the Binance Smart Chain (BSC)."
How to execute a token swap?
"Token Swap on an Exchange
One of the most popular ways of carrying out a token swap is to let an exchange handle it for you. The old tokens are stored in the wallet, and after the swap, a new wallet is created to which the swapped tokens are transferred. Once the swap is complete, the wallet with old tokens is destroyed. After trading begins on the new token, you can either withdraw them or trade them based on your preferences. Generally speaking, an exchange is an easier option than swapping tokens yourself since there are no hidden fees and everything is transparent and straightforward.
Swapping the Token Yourself
The platform/person who issued the coin you are holding will give you a wallet to download or an online site to register with. In both cases, you will get two wallets; one for the old coin and the other one for the new. The old token then will have to be transferred to a specific address. Post this, the wallet for the new account will be credited. The manual method, however, has more risk associated with it."