SwapKit allows you to swap one cryptocurrency for another directly from the BitBoxApp Marketplace. This means you can choose the asset you want to send, select the asset you want to receive, and confirm the swap with your BitBox.
SwapKit provides an SDK/API service for non-custodial swaps. The BitBoxApp integrates SwapKit to make swapping cryptocurrencies across different blockchains available in one place, while you stay in control of your assets.
You can learn more about SwapKit on the SwapKit website.
This article explains how to open SwapKit, choose the correct accounts and assets, review the swap details, and confirm the transaction securely on your BitBox.
Before you begin
Before starting a swap, make sure you have:
- The latest BitBoxApp and BitBox firmware installed.
- Your BitBox connected and unlocked.
- Funds available in the account you want to swap from.
- Enough funds to cover possible network fees.
- Read and understood the SwapKit information shown in the BitBoxApp.
To pay network fees, you need funds in the main cryptocurrency of the sending network. For example, if you swap an ERC-20 token, you need Ethereum to pay the network fee because ERC-20 tokens are used on the Ethereum mainnet.
External service
SwapKit is an external service integrated into the BitBoxApp Marketplace. Availability, supported assets, swap routes, providers, fees, and limits may depend on your region, selected assets, and the service provider.
Non-custodial swaps
SwapKit enables non-custodial swaps. This means you do not hand over custody of your assets to the BitBoxApp. However, the swap itself is performed through external SwapKit providers.
Open SwapKit in the BitBoxApp
- Open the BitBoxApp.
- Connect and unlock your BitBox.
- In the left sidebar, click Marketplace.
- Open the Swap tab.
- Select SwapKit.
- If this is your first time using SwapKit, read the information shown in the BitBoxApp.
- Confirm that you understand the information to continue.
First-time information screen
The first-time information screen explains important details about SwapKit, including fees, slippage, providers, security, and data protection. Read this information carefully before continuing.
Choose the asset you want to send
In the swap window, the Send field defines the asset you want to swap from.
- Click the Send field.
- Select the account that contains the funds you want to swap.
- Select the asset you want to send.
- Enter the amount you want to swap.
Account selection
Make sure you select the correct account. Only active accounts with available funds can be used as the sending account.
Choose the asset you want to receive
The Receive field defines the asset you will receive from the swap.
- Click the Receive field.
- Select the cryptocurrency or ERC-20 token you want to receive.
- If the same token appears multiple times with different numbers, choose the correct account.
ERC-20 account numbers
ERC-20 tokens may appear multiple times with different numbers, for example Chainlink, Chainlink 2, Chainlink 3, and so on. These numbers refer to different Ethereum accounts in the BitBoxApp. Each Ethereum account has its own Ethereum address.
Switch the send and receive assets
If you want to reverse the direction of the swap, you can switch the selected assets.
- Click the two-arrow icon between the Send and Receive fields.
- Check that the sending and receiving assets changed correctly.
- Review the selected accounts again before continuing.
Review the swap details
After you select the sending asset, receiving asset, and amount, SwapKit calculates the estimated receive amount and selects a swap route.
- Check the asset you are sending.
- Check the amount you are sending.
- Check the asset you will receive.
- Check the estimated amount you will receive.
- Review the selected swap route.
- Review all displayed fees and conditions.
- Click Swap when everything is correct.
SwapKit fee
A flat rate of 1.5% is applied to each swap. SwapKit exchange rates may differ from the exchange rates shown elsewhere in the BitBoxApp.
Slippage
Slippage is the difference between the expected price when you start a swap and the final price when the swap is completed. Because cryptocurrency prices and liquidity can change quickly, the final amount you receive may be lower than estimated.
Review before confirming
Only continue if the sending asset, receiving asset, amount, account, fees, and swap route are correct. A confirmed crypto transaction cannot usually be reversed.
Confirm the swap on your BitBox
After clicking Swap, the BitBoxApp sends the transaction details to your BitBox02 for confirmation.
- Review the transaction details on your BitBox display.
- Check that the details match what you expect.
- Confirm the transaction on your BitBox.
- Wait for the swap to be processed.
Confirm on the device
Always review the transaction details on the BitBox02 display before confirming. The BitBox display is the trusted screen for checking what you are about to approve.
SwapKit destination display
SwapKit is not covered by the BitBox security threat model because it is an external service. To improve security, payment requests are implemented into the BitBox firmware so your BitBox02 can display the destination as SwapKit when making a swap.
Swap confirmed
After confirming the swap on your BitBox02, the transaction is submitted. The received asset will appear once the swap and the required blockchain confirmations are completed.
SwapKit providers and data protection
SwapKit uses multiple providers to perform swaps. Providers may be added or removed over time to support current swapping requirements and improve performance.
The BitBoxApp does not learn or collect personal data when you use SwapKit. SwapKit may collect some data as explained in its privacy policy.
External provider information
Provider availability and data handling are managed by SwapKit and its providers. For the most up-to-date details, refer to the information provided by SwapKit.
The BitBoxApp does not learn or collect personal data when you use SwapKit. SwapKit may collect some data as explained in its privacy policy.
Frequently asked questions
What is SwapKit?
SwapKit is an external swap service integrated into the BitBoxApp Marketplace. It provides an SDK/API service for non-custodial swaps and allows you to swap supported cryptocurrencies directly from the BitBoxApp.
Is SwapKit non-custodial?
Yes. SwapKit enables non-custodial swaps, which means you stay in control of your assets. However, the swap itself is performed through external SwapKit providers.
What fee does SwapKit charge?
A flat rate of 1.5% is applied to each swap. Additional network fees or provider-related costs may also be shown during the swap flow.
Why can the final receive amount be different from the estimate?
The final receive amount can change because of slippage. Slippage happens when the price changes between the moment you start the swap and the moment the swap is completed.
Do I need my BitBox02 to swap cryptocurrencies?
Yes. Your BitBox02 is required to securely confirm the transaction. You should always review the transaction details on the BitBox02 display before approving the swap.
Why does my BitBox02 show SwapKit as the destination?
When making a swap, the BitBox02 can display the destination as SwapKit because payment requests are implemented into the BitBox firmware. This helps you verify that the transaction belongs to the SwapKit swap flow.
Is SwapKit covered by the BitBox security threat model?
No. SwapKit is an external service and is not covered by the BitBox security threat model. The BitBoxApp and BitBox02 still help you review and confirm the transaction securely before it is submitted.
Why do some ERC-20 tokens appear multiple times?
Some ERC-20 tokens can appear once for each Ethereum account in your BitBoxApp. For example, if you have several Ethereum accounts, the same token may appear with different numbers. Each entry belongs to a different Ethereum account and address.
Can I swap from any account?
You can only swap from supported accounts that are active and have available funds. If an account has no funds or the asset is not supported, it may not be available for the swap.
Can I cancel a swap after confirming it?
After you confirm the transaction on your BitBox02 and it is submitted to the network, it usually cannot be cancelled or reversed. Always review all details carefully before confirming.
When will I receive the swapped asset?
The receive time depends on the selected assets, swap route, service provider, and required blockchain confirmations. The BitBoxApp will show the available status information during the process.