What are simple swaps? - Decred Q&A Sessions
Channel: Decred
Date: 2023-08-19

Simple swaps are a great way of buying or selling small amounts of crypto, as they are super flexible, mobile-friendly, crazy simple to use and have a large array of coins that can be swapped between. The main downside with simple swaps is their custodial nature, meaning that a middleman takes control of your funds to complete the exchange between coins. You should be aware of this risk, as it could lead to loss of funds. 

Simple Swaps are not the same as AtomicSwaps. AtomicSwaps, as in the case of DCRDEX, are completed fully peer to peer and do not require any middlemen or third-party services.

Decred is Money Evolved. By combining battle tested Proof-of-Work with an innovative take on Proof-of-Stake that places coin holders in charge of shaping the future, Decred is able to adapt to challenges and innovate at a rapid pace. You acquire influence in Decred by putting “skin in the game”. Decred’s security, privacy, scalability, and decentralized treasury empower stakeholders and provides them with the tools needed to enhance their financial sovereignty.

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