HelpWallet
Swap crypto in Status Wallet
cheny0
on Sep 24, 2024

Status app is currently in beta stage
The Status app is currently in its beta stage. This means the application is still undergoing active development, and certain features described in this document may function differently or be unavailable within the app.
info
Currently, you can only swap on the Status desktop app.

By swapping, you exchange one asset for another, often for investment purposes or to access specific tokens. For example, you can swap ETH for SNT to join a Status Community that requires you to hold SNT.

tip
If you want to move your asset to another blockchain network, see Bridge crypto in Status Wallet instead. If you are unsure, see Choose between bridging and swapping assets.

  • In Status Wallet, you can swap ERC-20 assets on Ethereum Mainnet, Arbitrum, and Optimism blockchains.
  • You can only swap assets, not collectibles.
  • The price of the asset you're swapping may change during the transaction. This is known as slippage. You can set the maximum slippage to accept when swapping, and the slippage affects the swap fee.
  • You need to pay a swap fee, which is automatically deducted from the amount you're swapping. You pay the fee to the blockchain that hosts your assets and the swap service, not Status Wallet. For more details, check out About bridge and swap fees.

If you are unsure whether to bridge or swap assets, consider the following scenarios:

ScenarioOptionNotes
You want to use ETH on Arbitrum for lower fees.BridgingMove ETH from Ethereum to Arbitrum to access lower transaction costs and faster processing.
You hold ETH and want to trade it for Arbitrum's native token.SwappingTrade ETH for Arbitrum's native token directly using a decentralized exchange within the same blockchain.
You wish to access a dApp on Arbitrum that requires its native token.Bridging Bridge ETH from Ethereum to Arbitrum to interact with dApps not available on Ethereum.
You have ETH and need DAI to lend on a platform on Ethereum.SwappingSwap ETH for DAI directly on Ethereum to use in lending applications without leaving the network.
You want to diversify your crypto portfolio by converting some ETH to SNT.SwappingYou may swap to take advantage of the crypto price movements.

  1. 1
    From the navigation sidebar, click
    Wallet
    .
  2. 2
    Select the account that contains the crypto to swap.
  3. 3
    Click
    Swap
    .
  4. 4
    Select the network, the asset to swap, and the asset to swap to.
  5. 5
    Enter the amount to swap.
  6. 6
    Click
    Edit
    to change the maximum slippage. The default slippage is 0.5%.
  7. 7
    Double-check the details and click
    Swap
    .
Updated by
cheny0on Sep 24, 2024
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