
Hello, dear SwapSpace users! Some of you might have already noticed some changes to our website, but in case you haven't: we are proud to introduce our new design, which went live last week. Take a look at the most important changes:
- The new main page became a lot more minimalistic. You don’t have to scroll through so much information anymore — everything you need is right there!
- The exchange flow is now improved — as you create an exchange and go through the steps, you will notice that the process became smoother and simpler, while presenting information in a well-structured way to help you make a choice.
- The tutorial on the “How It Works” page looks, reads, and feels more up-to-date now.
- Our “About” page is sporting an updated look too — both the content and the visuals have been rehauled to make your browsing experience more enjoyable.
We are continually working to improve your experience on SwapSpace — so, while those are the latest changes, they are certainly not the last. We hope you'll keep having a great time with us!
Best wishes,
SwapSpace team
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Not a Cryptocurrency Exchange Aggregator Anymore: What’s the Next Step for SwapSpace?
June Katz 2 min read
Hey guys! We’ve been thinking about our future as a company for a while. As you know, crypto is a risky business, often demonized both by the governments and the wider public, with tightening regulations, slow adoption, and an uncertain future. Needless to say, this brings a lot of anxiety to those who choose to stay in this business. This made us think: if working with crypto became such a hassle — or if it’s even on its way out — what is always “in”? What — or who — keeps making us happy in any circumstances? And then it came to us! So, we’ve decided to make a 180 degree turn with our business.  Meet SwapZoo: the animal shelter aggregator ! 700+ species, 17 shelters, no cages: our spirit lives on. Stay with us — and join the worldwide community of animal supporters. Stay tuned and learn how to take proper care of animals, participate in the rescue movement, and more. In the meantime, you can help by using this referral link — we will donate a percentage of our profits from all the transactions made through this link to the Restoring Australia’s Habitats charity foundation. With love (for all the creatures AND you!), SwapZoo team
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How to Buy Crypto with Fiat Easily at SwapSpace
June Katz 3 min read
In case you haven’t noticed, SwapSpace does not only collect exchange offers from some of the best crypto-to-crypto exchanges but also allows you to buy crypto with fiat! In this short tutorial, we’ll take you through this process (of course, you can go here yourself and see how easy this is). 1. Choose the Currencies and Amounts Make sure you pick “Buy crypto” in the widget on SwapSpace’s main page. Enter the amount of money you want to spend and choose the currency: Pick the cryptocurrency you want to buy: And click the “View offers” button. 2. Pick an Offer As of now, buying crypto for fiat is available at SwapSpace through our partner Mercuryo*, so you should see their offer on the right-hand side of the screen. Click the “Exchange” button next to the offer. *In the future, we aim to expand the list of our partners, so you will be able to choose the partner that suits you best. 4. Enter the Recipient Wallet and Agree on the Exchange Terms Type in the recipient wallet - the wallet address where you would like to receive your crypto funds after the purchase. Or, alternatively, you can connect your wallet (we support Trezor and Simplehold). After clicking “Next”, you will have to agree with special terms and conditions; please read them carefully and click “Next” again. You've successfully created an exchange! 5. Sign in to Use the Service Sign in with your e-mail address or a phone number. You will get the security code and will be asked to enter it before you can proceed. 6. Complete the KYC If this is your first time using Mercuryo, at this point you may be asked to undergo the KYC procedure. In this case, you will have to complete a couple of additional steps by following the instructions on the screen. Luckily, Mercuryo's team is quite thorough with the instructions, so this process is quick and painless! First, you will be asked to upload a photo of your ID. Then you’re going to provide a picture of yourself. That’s it! While you’re waiting for your data to be checked (which usually takes 5-15 minutes), you can proceed with the transaction. Your money will be safe: the transaction will be complete only when you successfully pass the KYC, otherwise you will get a refund. 7. Transfer Your Funds Select your preferred method of payment. The supported payment methods are Visa, Mastercard, Apple Pay, Google Pay. Choose the one that you prefer, fill in the necessary details and click the button with the fiat sum on it. This will transfer your funds to Mercuryo.  8. Await the Exchange Finalization Wait for the purchase to be processed. You will see the message that your payment has been successfully processed at the end of the exchange. As you see, the process is pretty straightforward - and if you still have any questions after this tutorial, we’re here to help!
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Mining Cryptocurrency on a Phone: How Does It Work?
June Katz 4 min read
Cryptocurrency is distinguished from fiat money by the absence of a single digital bank and control over transactions and payments. It is stored and maintained in a decentralized manner, that is, on the wallets of millions of users around the world. If the bank is responsible for accounting for ordinary money, then in the case of, for example, Bitcoin , the blockchain is responsible for this, which contains records of all transactions ever made. Miners are rewarded for supporting the network, that is, combining transactions into blocks and calculating the key (hash) for the block. That is, people generate keys and try them until one fits. If earlier it could be done using a regular home PC, now it requires much more power. Mining Bitcoins using the SHA-256 algorithm requires so much performance from the equipment that even the most powerful processors are far from the past. And with the advent of ASIC chips, video cards are slowly starting to lose ground. Nowadays people practically do not let mobile gadgets out of their hands, so despite the growing difficulty of obtaining cryptocurrencies, developers have come up with how to mine crypto on phones. In this regard, the question arises, is it really possible to mine cryptocurrency on a smartphone? In principle, this is possible, although we can only talk about coins that differ significantly from "digital gold" in terms of the characteristics of their production. First of all, we are talking about mining on Android-based CryptoNight algorithm ( derived from CryptoNote). These include Monero (XMR), Bytecoin (BCN), and Digital Note (XDN). You can also try mining currencies such as Dash (DASH), Aeon (AEON), QuazarCoin (QCN), Fantom (FTM), MonetaVerde (MCN), or new little-known coins on your Android phone after they are added to applications. Popular apps for mobile crypto mining MinerGate This miner is a specialized pool that gives a chance to earn some crypto on a PC, tablet or mobile phone. The pool program distributes tasks between participants to combine their computing capabilities into a single network. Mining can be done via Wi-Fi or a mobile network. In the settings, you should set that mining can only be done via Wi-Fi or only when the phone is recharging. It is also possible to set the number of cores used for mining and prohibit operation if the battery charge is low. The device does not heat much during the extraction process. The calculation speed is low. It depends on the power of the smartphone and can vary quite widely, for example, on one (budget) gadget you can get 9 H/s, and on another (more expensive) – 17 H/s. But in any case, this is 10-20 times less than the average hand of a personal computer. You can earn about 10-12 BCN per day — 0.0015 USD. ARM Mineral This is one of the best mining apps for Android/IOS in 2022. Not bolted to a specific pool, very simple interface. In the free version, the user is shown a video advertisement of a binary options resource in full-screen format, it is impossible to disable it. The ad-free version is paid. The mining speed is 2.8 kH/s on 4 cores, 3.2 kH/s on 8 cores. The SHA256 and Scrypt algorithms do not run, the earnings for the rest are too small. At the same time, there is noticeable heating and unstable operation of the device under load. Is it worth it? Before mining on an iPhone or Android, you should ask yourself how appropriate it is to do this. Calculating the hashes of cryptocurrency blocks requires a serious and long-term load on the device, for which smartphones are not designed at all. The fact is that the phones do not have an active cooling system, and passive cooling does not provide a normal heat sink. This leads to rapid wear of the device. It should be noted that all the tests did not take into account the cost of used electrical energy and the wear and tear of equipment. If we take into account these factors, the income from mobile mining will not be comparable with the costs.
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What Is a DAO And How Does It Work?
Ruth Kise 10 min read
Until recently, the concept of blockchain was only known in the context of cryptocurrencies, but today this technology is actively used in business. What's more, the new acronym DAO is entering the mainstream. So the "untraditional" business model appears along with JSC and attracts the attention of business enthusiasts more and more. DAO Definition and Key Features DAO (decentralized autonomous organization) is a company that is based on blockchain technology, managed using smart contacts. It does not have owners in the traditional sense, as well as controlling and governing bodies like the board of directors. In other words, decentralized autonomous organizations lack a hierarchical structure, and all participants in the ecosystem have the same rights and can vote for changes in the protocol on an equal basis with other participants. strong >Main features of DAO: In contrast to JSC, the «command and control» structure in formal union of groups of people is not applicable in this case. There are no executive boards and the company is managed by the community by voting on any relevant matter relating to the activities of the organization; Instead of traditional hiring, a person receives a smart contract based on the project. After that, the members of the community discuss the offer and vote. After its adoption, the work of the executive begins directly; Quitting is also becoming a consensual issue. So, if a person does not cope with the tasks set for him, token owners who voted to hire him can withdraw their votes, leaving the employee "overboard." Thus, possible conflicts are excluded in the DAO due to lobbying for the interests of certain persons; Agility and flexibility to innovate. This is due to the fact that companies are organized not around people, but around values and smart contracts . In a peer-to-peer system, much faster. In a "flat" organization, the community can rally faster and "fund" the best and most promising idea. As noted above, decisions are made by vote; Absence of meetings and colleagues in the traditional sense. DAO organizational policy Note that DAO is also characterized by the presence of internal company policies, but it has a number of differences. In classic business, in particular, management determines the actions of the entire organization. In the case of DAO, the value is the main factor on which all efforts will be focused. Therefore, every community member, who decides the future of the compound protocol, is motivated to bring the maximum benefit without looking back at the leader’s wishes. Since the DAO model does not involve a centralized hierarchy, it relies on alternative approaches, such as token-based memberships. Typically, such governance tokens can be freely purchased and filed on decentralized exchanges , or earned by providing liquidity or computing power for mining or staking. In any case, by holding governance tokens, you become a kind of shareholder and gain access to voting, which determines the organization's development strategy. Managing the DAO: What Are Governance Tokens? Governance token — a token that allows its owner to take part in the management of an organization. Thanks to governance tokens, users can propose, discuss and make changes to the project, and they do not need to rely on the project team or require its participation. "DAO is an organization that can operate on its own, using code, without anyone's responsibility for decision-making," explains blockchain enthusiast Travis Miller. "Imagine a corporation without a CEO." In addition, participants can use tokens to delegate voting rights to other users and monitor the distribution of funds allocated to support the project. DAO in Crypto: Examples The first thing you should note is that the meaning of the DAO economy is to attract users to actively manage and develop the ecosystem of a particular platform. As a rule, users who participate in voting can receive a reward. Thanks to Ethereum , the built on smart contracts infrastructure of DAO has appeared in the crypto industry. There are few examples of DAO including Maker, Compound, Forth ( Ampleforth ). DAO Maker DAO Maker — is a decentralized platform based on Ethereum. It was the first who made it possible to create DAI stablecoins , and various other cryptocurrency assets are accepted as collateral. One of the main features of the DAO Maker platform is that the DAI stablecoin is always equal to US $ 1 per 1 DAI unit.  Since this is DAO on the platform uses governance tokens — MKR, a million of which were distributed between the first users of the platform. In the DAO Maker ecosystem, MKR tokens are used as the "fuel" of the entire system, just as gas is used in Ethereum. As soon as the commission is paid, the received MKR tokens are destroyed (burned). New MKR tokens are released as needed, so the system is constantly in a certain balance. Compound Another of the largest credit protocols in the DeFi. In addition to interest on issued loans secured by cryptocurrency, it charges creditors COMP tokens to motivate the community to issue more crypto loans. COMP tokens allow their owners to make decisions about changes to the Compound protocol. When the user enters tokens into the Compound pool, in return he receives cTokens. These cTokens represent the depositor's share of the pool and can be used at any time to redeem the underlying cryptocurrency originally deposited in the pool. For example, when deposited in an ETH pool, in return you will receive a cETH. Over time, the exchange rate of cTokens of the underlying asset increases, which means that you can exchange them for a larger amount of the underlying asset than you originally invested - this is how the interest distribution occurs. Ampleforth This is an Ethereum-based cryptocurrency with an algorithmically regulated number of tokens in the circulating offering. It is intended for use as the base currency of the new decentralized economy and is an asset that is not subject to demand inflation and remains independent of the price movement of other cryptocurrencies, in particular bitcoin (BTC). Besides AMPL the platform has governance tokens FORTH. Ampleforth has a 6-step protocol change process. When the proposal successfully passes the first five stages, the FORTH holders vote for the proposed change. If a majority is reached during voting, then the change is automatically made to the protocol. DAO Pros and Cons Pros: There is no hierarchical ladder, so a separate group or control center cannot make decisions that ignore the interests of the rest of the participants. Decentralized management system. With this approach, the actual power passes into the hands of only those persons who are really interested in this and are ready to develop the project. All rules, requirements and conditions for working with the DAO platform are known in advance and can only be changed with the approval of most owners of control tokens. As a result, only really useful offers "pass." All transaction records are publicly available, eliminating asset fraud. Cons: Slow response to threats. If something atypical happens, you need to vote among all governance token holders to solve the problem. At the same time, the decision must first be prepared by someone, which also requires certain costs. As a result, the reaction is very slow, which threatens potential problems. The development also requires a vote. Moreover, you need not only to offer a further way of development, but also to find an executor who will be ready to do the work. It slows down the development of the DAO platform. Despite the high potential of blockchain in managing systems, it hides many risks associated with protocol security. And history knows the hard chapter with the first DAO case in 2016, when the platform was hacked . But it connected with the organization of decentralized and open platforms. Anyway DAO attracts a lot of enthusiasts from different business areas, and has been already realized in such spheres as art, culture, gaming, automatizing and so on.
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