trade with LetsExchange.io is easy and cheap – that’s what users of the platform say. The instant multi-currency exchange platform LetsExchange collected feedback from its users and shared some of the user experience stories. They highlight a few interesting use cases and show that LetsExchange is useful not only for crypto traders and investors, but also for many types of crypto users.
How LetsExchange helps its users save on withdrawal fees?
LetsExchange enables secure wallet-to-wallet exchanges across multiple blockchains with low fees and no registration requirements or KYC. Matias from Oaxaca, Mexico shares how he managed to save on the fees charged by a mobile wallet to withdraw funds to a bank account. All he had to do was move the coins from his TrustWallet to a web wallet offered by a local cryptocurrency exchange with a simple exchange on LetsExchange.
“I deal with crypto quite frequently. I covered everything – here in Mexico there are a few centralized exchanges, they offer web wallets to their users. From there, I can easily and cheaply exchange crypto for fiat and withdraw funds to my bank account.
Recently, I opened TrustWallet to get BUSD there. Everything was fine until I started checking how to withdraw the funds. The 15-20% fee for bank account withdrawals wasn’t even the biggest issue.
First, I would need BNB to pay the gas charges. I didn’t have any BNB in the wallet, furthermore, I couldn’t just exchange BUSD for BNB in the wallet because there were no coins to pay for gas fees. The wallet offered a solution: buy BNB with my bank card. That would mean verification – an ID, a selfie, residency confirmation and who knows what else. Can’t say I was happy with it, but it seemed like there weren’t many options to choose from.
When the funds needed to be sent from the card to TrustWallet, I had to call the bank security service to confirm that I wanted this transaction. Otherwise, the transaction would be refused.
It was just too much: I needed my funds in fiat, I would need who knows how long to pass the verification procedures, and now even that was not enough. I had to wait for someone from the bank’s security department to respond, until they found someone who knew what crypto is and how to help with the transaction…
I had to find a less demanding way to withdraw this money. I had BTC funds in my web wallet. And I exchanged BTC for BNB through LetsExchange. So, after just a few seconds, I got BNB in my TrustWallet to pay gas fees for transfers.
Next, Matias just swapped his BUSD in TrustWallet for BTC in his web wallet. It’s very simple if you use LetsExchange:
- In the exchange widget, you choose the coin to sell and provide the amount.
- You select the part you want to receive.
- You deposit your coins at the address provided by LetsExchange, do not forget to choose the network carefully (in the case of Matias, it was BUSD, Binance Chain).
- And finally, you indicate the address at which you want to receive the crypto (BTC in a web wallet).
The whole process takes seconds, is anonymous, and has low fees. Users can exchange any listed coin for any other coin, in any network, without overpaying. In the end, Matias only paid the liquidity provider fee and blockchain fee which was around 1-2 USD instead of paying a withdrawal fee which would take approx. ⅕ of the sum.
How LetsExchange helps with cross-chain swaps?
For users who need to exchange different tokens and have to pay high gas fees for cross-chain exchanges, LetsExchange can be helpful to save on these fees. Here is what Daniel, a LetsExchange user from the United States says:
“I often need to trade coins, different. For example, when I need to sell ETH and buy BNB on Binance Smart Chain. I live in the United States, so I can’t use Binance Bridge because Binance does not operate here, even if I could use it, a cross-chain exchange would be too expensive.
On the LetsExchange platform, I can trade any coin with very low fees, and it only takes a few minutes.
LetsExchange supports over 350 coins and allows exchanges between any of them, any chain. The platform imposes no limits, so users can trade as much crypto as they want.
How can LetsExchange be used by Play-to-Earn players?
Another user story (Wes from Indiana, USA) is about gambling to win but, at its core, it’s also about cross-chain trading. Wes thinks LetsExchange offers easy trading for players who play to win, those who play multiple games and want to control their funds:
“With LetsExchange, I have an easy way to change one in-game currency to another. I play Axie Infinity, Slingerlands, and Hive, among others. For me, it’s convenient to be able to exchange tokens from one game for tokens from another game if needed. This can be done via a bridge, but I would pay huge fees for this. Another option is to buy in-game assets with fiat, but that would mean verification, KYC. C That’s why I use LetsExchange – for me it acts as a gateway to different games that use different tokens on different chains.
These are just a few use cases described by users of the platform. Essentially, LetsExchange.io offers an easy and cost-effective way to trade over 120,000 cryptocurrency pairs, whichever wallet you prefer. This capability can be applied to many different cases by all types of crypto users.
Disclaimer: This is a paid publication and should not be considered news or advice.