Swap flow
Custodial exchange
A custodial exchange holds your coins in accounts it controls; you trade balances inside the platform and withdraw later.
Custody enables order books and fiat rails but requires KYC and exposes you to platform insolvency, freezes and hacks.
On Swap.bz
Swap.bz is the opposite model: no account, no balance, one-time flow per order.
Related terms
Non-custodial
A non-custodial service never holds your balance: funds move from your wallet to a one-time deposit address and out to your receive wallet within a single order.
KYC (Know Your Customer)
KYC is the identity-verification process — ID document, selfie, sometimes proof of address — that regulated financial services require before serving a customer.
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