The process of exchange

Ever wondered how exactly the exchange is happening within the wallet? Here is the detailed information.

The exchange process

When you initiate the exchange, your exchanged-from coin is being transferred to the address of our exchange partner. In our example, ATOM from the wallet will be sent to the unique ATOM address, created by our exchange partner just for your exchange.

There are two history sections in the wallet - Order History, where you can check the status of the exchange, and History, where all the incoming and outgoing transactions are recorded. Below is an example of Order History.

In the History section, you will see two transactions. One is outgoing when your coin is sent out for the exchange and one is incoming - of the asset you exchanged to. The address your exchanged-from coin is sent to is our exchange partners' address.

Please note, making an exchange means sending your asset to the exchange as a regular blockchain transaction. The regular network fee applies. 

The exchange rates 

Important: Atomic Wallet doesn’t offer fixed-rate exchanges. The estimated amount can vary under the market fluctuations at the time of the exchange. However, our exchange partners guarantee that they will search for the best rate available. 

Before making an exchange you will be presented with the estimated amount. This estimated amount is calculated based on the current situation on the market. Kindly note that the situation is constantly changing. It is possible that the price of a certain asset may change slightly after you have already sent the funds. Below the estimated amount you can find an approximate rate. This is an approximation of relative value of two assets. The rate, just like the price, may change in the process of exchange. 

Note: the rates presented in the Atomic Wallet interface are not the exchange rates. They present an average rate calculated from 10+ different exchanges. We use CryptoCompare as a source. Below is the example of the average rates shown in the wallet.

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