Swap flow
Instant exchange
Also: swap service · crypto swapper
An instant exchange converts one crypto into another in a single order — quote, deposit, receive — without an order book or account.
Liquidity comes from market makers, aggregators or DEX routes behind the scenes; the user only sees a quote and a deposit address.
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.
Quote
A quote is the receive amount an exchange commits to for a given input at that moment, including its fee and estimated network costs.
Swap aggregator
A swap aggregator routes each order to whichever liquidity provider offers the best executable rate at that moment.
← All 62 terms · Last reviewed