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— SwapSpace (@SwapSpaceCo) August 8, 2019
The SwapSpace instant exchange marketplace service has added Dash, expanding easy and economic avenues of switching out other cryptocurrencies.
SwapSpace connects several instant swap exchange services, such as Changelly and Flyp.me, which allow the instant and seamless conversion of one cryptocurrency to another. The benefit of these services is that a user can exchange one cryptocurrency for another without creating a trading account and dealing with potential AML/KYC verification or trading offer-making based delays, or without moving superfluous funds to a platform outside of their control, since only the amount desired to be exchanged is sent, with the new funds sent straight to the customer’s wallet.
SwapSpace connects several of the more popular of these services together and allows customers to compare rates, getting the best possible conversion deal while still preserving the instant and painless conversion experience. The service displays both floating and fixed rates, since some featured exchange services change their rates while others do not. The platform announced Dash’s integration on Twitter this week.
Improving the ability for other crypto holders and recipients of donations to obtain something easily spendable
Venezuela crisis: Nonprofits turn to cryptocurrency https://t.co/wOO8abJU3C
— Joe Waltman (@joewaltman) May 23, 2019
As Dash grows in popularity and usefulness as a payments method, an easy swapping mechanism will show increasing utility for holders of other cryptocurrencies. According to recent ecommerce data, Dash is growing in online payments, outpacing most other cryptocurrencies across a few key services, reaching first place or second place behind only Bitcoin across several platforms. The overall trend for smaller transactions among non-Bitcoin cryptocurrencies is apparent as well, as higher fees and longer transaction times may influence users to specialize Bitcoin for larger transfers. The addition of an easy swapping mechanism minimizing conversion fees facilitates the maintenance of a Dash balance for spending.
A key example of this utility would be maximizing the charity efforts ongoing in Venezuela. Several organizations and initiatives exist to aid poor economic conditions in Venezuela through leveraging cryptocurrency donations. Dash is accepted in thousands of businesses in the country, including at major chains and department stores like Traki. Leveraging a service like SwapSpace, recipients of direct donations would be able to easily convert to Dash, which then can be spend at local stores.