How to swap cryptocurrencies

What you need to swap cryptocurrency

Swapping crypto involves the same decisions wherever you go, whatever service you use. Get these right once and every swap after that will be routine.

1. Crypto in a wallet you control

Swapping means moving crypto out of your wallet, so the first question is where that crypto sits today:

Our service is built for the second case: you swap straight from your own address, and nothing has to be deposited with us first. You can use our self-custodial mobile app Bridge Wallet or any other self-custodial wallet like MetaMask, Rabby, Ledger, Trezor and so on.

2. Choose where to swap

You can choose between three categories of services to swap your crypto:

• A decentralized exchange (DEX): As the name suggests, it is the most decentralized form of service you can use in full autonomy to swap crypto. However, DEX interfaces can be complex, and you will need to watch out for different parameters that can cost you if not controlled properly: price impact, slippage tolerance, and potential front-running issues.
• A centralized exchange (CEX): A CEX is a trading platform, so you don't make swaps on it but trade orders instead. You don't really own the funds until you have withdrawn them to a self-custodial wallet.
• A non-custodial service: That's the service Mt Pelerin provides, which offers the best of both worlds: your crypto is swapped from a wallet you control, with no spread, no slippage and no price impact whatever the size of your transaction.

3. A receiving address

The crypto you buy in the swap has to be delivered somewhere, so you need an address that is valid on the destination blockchain. It can be the address that sends the crypto, or a completely different one, as long as it belongs to you.

Two things are worth checking before you confirm: that the address exists on the destination chain, and that the wallet holding it actually displays the asset you are about to receive. An address you cannot access, or one on the wrong chain, means funds you cannot spend.

4. Network costs

Because you send the crypto yourself from your own address, you pay the blockchain network cost required to make that transfer. It is charged by the blockchain itself, not by us, and it is paid in the native cryptocurrency of the chain you use: ETH on Ethereum and Arbitrum, BNB on BNB Chain, and so on.

You will therefore need to have enough of that native crypto in your wallet in order to pay and send the transfer out. On the receiving side there is nothing to pay: we deliver the funds to you, so you do not need to hold the native crypto of the destination chain to receive your swap.

See our support page for more info about network costs.

What it costs and how long it takes

The table below summarizes what you pay to swap crypto with Mt Pelerin and how long a swap takes to be delivered:

The full fee schedule, including the volume tiers and the MPS token benefit, is on our pricing page.

Below is how each of the steps above works in practice with our service, first via our web app and then in our mobile app.

💻 How to swap crypto with our web app

With our exchange service, you can swap and bridge cryptocurrencies from any of your existing wallets, as long as the wallet is self-custodial (meaning that you control the wallet address and its private key / secret phrase).

This step-by-step tutorial below shows you how it works:

1. Go to our web interface

You can access it on our website here or through any other partner website. It looks like this:

2. Choose your swap

Choose the following things:

• The crypto you'd like to send
• From which chain you want to send it (if available)
• The crypto you'd like to receive
• The chain on which you'd like to receive it (if available)

Then, click the green "Swap" button to continue:

3. Register or login

All you need to register is an email address and one of these authentication methods:

• SMS: you will need to provide a phone number and confirm it with an SMS code.
• Wallet signature: Download Bridge Wallet, create or restore a wallet, then go in the user profile menu on the top right of the app's main screen, and choose the signature option. You can then use the "Login with Bridge Wallet" option here.

If you already have a profile with us, login with one of the methods available to continue. For this example, we choose the SMS option:

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4. SMS code confirmation

Enter the code that you have received by SMS. If you haven't received any, you can ask for a new one after the timer cooldown:

5. Email

Enter an email address, where you will receive notification emails about your transactions:

6. Registered

You will see here your profile status and your buy/sell/swap volume limits. Click "Next" to continue:

7. Sending address

Choose one of the available options to connect a wallet and choose the address that will send the crypto. See here for a detailed tutorial. If you already have a profile with us, you will be able to choose one of the wallet addresses that are linked to your profile, or add a new one:

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8. Receiving address

Choose one of the available options to connect a wallet and choose the address on which you will receive your crypto. See here for a detailed tutorial. It can be the same address as the sending one or a different one, as long as it belongs to you and is valid on the destination chain. If you already have a profile with us, you will be able to choose one of the wallet addresses that are linked to your profile, or add a new one:

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9. Crypto transfer

Send your crypto to our wallet address, using one of the methods available here. Two things must match your order:

⚠️ You must send the crypto on the blockchain that you have selected at step 2.

⚠️ You must send the crypto from the wallet address that you have selected at step 7.

Once we have received your crypto, you will receive a notification email to confirm it (please note that it can take several hours to be sent). After that, we convert your funds into the cryptocurrency you chose. You will receive a second notification email with the detail of your transaction as soon as your funds have been delivered on your receiving address.

📱 How to swap crypto with our mobile app

If you don't have a crypto wallet yet, downloading our mobile app is the easiest way to get started if you want to swap cryptocurrencies. This step-by-step tutorial below shows you how it works:

1. Download Bridge Wallet

Bridge Wallet is the free mobile app that we've made to easily invest in crypto assets and manage them from your phone. To download it, click the button below:

2. Create a new wallet

Create a new wallet, or restore an existing one if you prefer to. If you need help on the creation of a wallet, we have made a step-by-step guide here.

3. Register or identify

Go in the user profile menu on the top right of the app's main screen, choose an authentication mode then provide an email address on which you will receive notifications about your transactions.

Registering allows to swap crypto up to CHF 999 per rolling period of 30 days (or equivalent in other currencies).

To swap crypto above this limit, you will need to identify. For more info, please see our support page.

4. Choose a crypto

The cryptocurrencies available to swap are all displayed by default in the app. You can see the full list on this page as well.

Please note that we have different cryptocurrencies available on different networks. To switch network, use the network icon on the upper left of the screen.

5. Add funds

Once you have chosen a cryptocurrency to swap, click on the "Add" button.

6. Transfer crypto to your address

Select the "Wallet" tab, then transfer crypto to the address displayed here. Since the app is self-custodial, please note that you will need to cover the network costs to swap your cryptocurrency. More information about them on our support page.

7. Swap

Once your crypto has been transferred to your address, go back to the crypto's screen and click on the "Swap" button.

8. Choose your swap

Choose the amount of crypto that you want to swap, the destination crypto and the destination blockchain.

You can access different cryptocurrencies on different chains, so change chains to see different assets.

9. Confirm

Once you click the "Swap" button, your cryptocurrency will be withdrawn from your wallet. We will convert it to the chosen cryptocurrency as soon as we receive it, then deliver the funds to the chosen wallet. You will receive a confirmation email with the detail of your transaction as soon as it is completed. See the table above for the time a swap usually takes to be delivered.

🙋‍♂️ FAQ

Is there a minimum and a maximum amount to swap?

The minimum is CHF 1 or equivalent. There is no fixed maximum: the only constraint is the liquidity available at the moment of your swap. If it isn't sufficient for your needs, contact us and we will add the liquidity for you.

What does it cost to swap crypto?

The first CHF 500 you swap each year is free of exchange fee, and above that the commission is 0.5% of the transaction amount. USDC to USDC swaps are charged 0.1% instead of 0.5% (USDC.e excluded), and MPS token holders get more free volume and lower fees. Delivery is free on every blockchain we support, except tokens delivered on Ethereum, which cost USD 1. You also pay the blockchain network cost of sending your crypto to us. See our pricing page for the full detail.

How is the exchange rate applied?

The rate applied is the market rate that we aggregate from multiple on-chain sources at the moment we receive your crypto transfer, unless your transaction must be put on hold for compliance reasons. In such case, the exchange rate will be applied when the hold on your transaction is removed.

Are there hidden fees, spreads or slippage?

No. Swapping with us has no spread, no slippage and no price impact, whatever the size of your transaction. Our only source of revenue is the exchange commission charged on the conversion, and it is displayed in full before you confirm the transaction.

What is the difference between swapping with Mt Pelerin and using a DEX?

On a decentralized exchange, the price you get depends on the depth of the liquidity pool, so a large order moves the price against you and you can suffer slippage between the quote and the execution. Swapping with Mt Pelerin has no spread, no slippage and no price impact, so what you see is what you get. You also don't need to hold the native crypto of the destination chain to receive your funds, because we deliver them to you.

Can I swap between two different blockchains?

Yes. Cross-chain swaps work exactly like same-chain swaps: you choose the blockchain you send from and the blockchain you want to receive on, and we handle the rest. We support 16 blockchains, so our swap service also works as a crypto bridge.

Can I receive the crypto on a different wallet than the sending one?

Yes, the receiving address doesn't have to be the sending address, as long as it belongs to you and is valid on the destination blockchain.

How long does a swap take?

We receive your funds as soon as your crypto transfer is confirmed on the blockchain. Once received, we exchange them and deliver them on your receiving address. The delivery speed can take anywhere between minutes and hours, depending on network and liquidity conditions. Deliveries are processed automatically most of the time, but can be held for a manual review by our compliance team, which is done during office hours from Monday to Friday.

Do I need to verify my identity to swap crypto?

Not below CHF 999 per rolling 30 days, or the equivalent in another currency. Above that threshold you need to verify your identity, which you can do directly within our web interface or in Bridge Wallet.

Does Mt Pelerin take custody of my crypto?

No, we are a non-custodial service and never take custody of the funds of our clients. The crypto that we receive is always converted right away and delivered to your receiving address as fast as possible.

Is Mt Pelerin regulated to offer crypto swaps?

Yes, Mt Pelerin is regulated in Switzerland since 2019 as a financial intermediary, which is the authorization to provide brokerage and financial services in the country. Mt Pelerin is affiliated to SO-FIT, a self-regulatory organization (SRO) under the Swiss Anti-Money Laundering Act, officially recognized and supervised by FINMA, the Swiss financial market supervisory authority. SO-FIT audits each year the compliance of Mt Pelerin's activities.

Can I cancel a swap after sending my crypto?

It's not possible to cancel a swap once the conversion has been executed and your funds delivered. If you have made your crypto transfer but haven't received a delivery notification yet, you can try to contact us and we will see if it's still possible to cancel your order.

Why does my transaction not start?

If the transaction doesn't initiate after your confirmation, it can either mean that you don't have enough of the crypto required to pay the transaction's network cost, or that you're trying to swap more crypto than your address can spend.

What if I send the crypto from another address or on another chain?

Your transfer is matched to your order using the sending address and the blockchain you selected, so a transfer coming from a different address or arriving on a different chain will not be matched automatically. Contact us with the transaction hash and don't send a second transfer in the meantime.

Can a company swap crypto with Mt Pelerin?

Yes, companies, associations and foundations can register with us and swap crypto from their organization's wallets.

Where do I find a receipt or my transaction history?

You can browse your transaction history and make PDF / CSV exports of them both in our mobile app on the transaction screen and on app.mtpelerin.com in the "Transactions" tab.