Crypto Swap is a registered Money Services Business with FINTRAC, the Canadian authority for registering digit asset exchanges and digital asset transaction oversight.
We are a decentralized, fully compliant, cryptocurrency liquidity exchange that specializes in: 1. the sale of digital assets into fiat currencies, 2. providing several ways for our members to send the money from the sale of these digital assets: a. to a multitude of destinations, (not just one bank account destination like other exchanges,) b. to international receivers, (not just within your country of origin like other exchanges,) c. sending large value transactions, (and without the standard amount restrictions enforced by other, less advance, exchanges,) and d. completing these sales in the fiat currency or your choice. (Unlike other exchanges that require you to sell your crypto for USD. Then charge you foreign exchange fees to convert the funds to the currency you need it to be sent in.) e. setting fees in line with other exchanges (other exchanges that allow withdrawals, with the restrictions mentioned above. As well as, offering our Members a secure platform to buy, sell, and trade, cryptocurrencies for other cryptocurrencies, and, cryptocurrencies for regular government-backed fiat currencies.
How do we do this?
Well, that's simple, in order for the trade to take advantage of all the security and anonymity that blockchain technology offers, we convert - internally - the fiat currency used to buy your digital assets into one of the five supported Stablecoins (DIgital assets that are linked permanently to their fiat currency counterpart. See below)
Crypto Swap Supports Trades in:
Litecoin (LTC), and
in exchange for
United States Dollar (USD) tethered to USDC,
Canadian Dollar (CAD) tethered to CADC,
British Pounds (GBP) tethered to GBPC,
Euro Dollars (EURC) tethered to EURC,
Japanese Yen (JPY) tethered to JPYC
For example, a Crypto Swap Member is looking to sell 1 Bitcoin (BTC), and receive United States Dollars, via wire transfer to a destination or several destinations of their chosing, on the Crypto Swap Platform.
In our example we use a BTC/USDC trade rate of $10,000 (exact equivalent to BTC/USD)
1. Member submits SELL BTC/USDC order at Market (or Limit);
- Platform recepts the BTC
2. Crypto Swap Liquidity Pool fills the order with a BUY order BTC/USDC;
3. Order is filled and the net trade funds are secured;
- Platform credits Members USDC account the net trade amount.
4. Member creates Fiat Currency Withdrawal Form (similar to a wire transfer form);
- Platform reduces the Members USDC balance by the amount of the transfer +fees,
- Platform issues wire transfer directive to Fiat USD Bank Payment Account
- Fiat USD Bank initiates the wire transfer and issues a wire receipt to Platform
- Platform sends the wire receipt, via email, to the Crypto Swap Member
5. USD arrives at the Bank destination Corordinates.
The same example can be used for the following Crypto/StableCoin trades:
BTC/USDC - ETH/USDC - LTC/USDC
BTC/CADC - ETH/CADC - LTC/CADC
BTC/EURC - ETH/EURC - LTC/EURC
BTC/GBPC - ETH/GBPC - LTC-GBPC
BTC/JPYC - ETC/JPYC - LTC/JPYC