How do I Swap Tokens Podcast
How to Swap Tokens on Goblins
Swapping tokens on the Goblins ecosystem is a straightforward process. Here’s a step-by-step guide to ensure a smooth transaction:
1) Connect Your Wallet: Open the Goblins web app and connect your wallet.
2) Navigate to Swap: Select “Swap” from the menu.
3) Choose Your Swap Tokens: Select the token you wish to swap and the token you want to receive. You can search by name or contract address.
4) Enter Amount: Input the amount you want to swap or use the “Max” option for the full amount available.
5) Review and Confirm: Click “Swap,” review the details, and confirm the transaction. If it’s your first time swapping this token, you’ll need to approve it, which involves a gas fee.
6) Sign and Approve: Sign the message in your wallet (no gas fee required) and confirm the swap, which incurs both an interface fee and a gas fee.
7) Wait for Confirmation: The swap will be processed on the blockchain. Once completed, you’ll see a “Swap success” message with a green checkmark.
Additional Tips and Considerations
- Approval Process: Remember that the first time you swap a specific token, you will need to approve it, which incurs a gas fee. This approval is a one-time action for every token.
- Gas and Interface Fees: Every transaction will require a gas fee, and the swap itself includes an interface fee. Ensure that you have enough of the network’s native token to cover these costs.
- Slippage Tolerance: Adjust your slippage tolerance based on market conditions to avoid transaction failures due to price changes during processing.
- Monitoring: After the transaction, you can view the swap details on smartBCH by selecting “View on SmartScout.”
By following these steps and keeping these tips in mind, you can efficiently swap tokens on the Goblins platform while optimizing your transaction outcomes.