A swap is the exchange of one cryptocurrency for another without converting to traditional money along the way. You send one asset, the service finds the best route for the pair, and a different asset arrives at your address.
What happens after you press the button
The service reserves a rate, shows you a deposit address and waits for your transfer. As soon as the network confirms it, the amount is routed through the liquidity providers that quoted the best price, and the result is sent to the address you specified.
Floating rate versus fixed rate
A floating rate follows the market until the moment your deposit is confirmed, so the final amount may differ slightly from the estimate. A fixed rate locks the number for a limited window and usually costs a little more, because someone has to carry the risk of the market moving.
Why the received amount differs from the estimate
Three things shape the difference: the network fee of the outgoing blockchain, the spread between buy and sell prices, and the time your transaction spends waiting for confirmations. On busy networks the last factor matters most.
What to check before you confirm
Verify the destination address character by character, make sure the network of the receiving asset matches the one your wallet expects, and keep the exchange id until the funds arrive. That id is what support needs if anything goes wrong.
Private crypto swaps
Best rates. Secure. Wallet to wallet