Tips For Trading On KyberSwap

6 min readMay 10, 2019

Imagine this hypothetical scenario —

Current price of ETH is 270 DAI (USD). You look at ETH-DAI chart and believe that the price can fall further, based on technical analysis. You determined that 220 is a good price point to buy ETH, and set up an alert and placed a limit order for ETH <= 220. After a few hours, you receive a notification on your mobile phone — “ETH is now 220 DAI”. You open your mobile app and saw that your limit order has been filled, with your DAI swapped to ETH.

Yes, life can be that simple! Let’s look at some tips to make your life easier with KyberSwap:

Limit Orders

With non-custodial limit orders, users don’t have to monitor volatile crypto markets 24x7 as they can place orders to buy/sell tokens at their desired rate — no deposits and withdrawals required!

For example, the user can set a limit order for WBTC → DAI, when rate of WBTC reaches 15,000 DAI. There’s no need to first deposit WBTC; user only has to provide signed transaction data. KyberSwap will automatically swap WBTC → DAI on the user’s behalf when WBTC hits 15,000.

Funds are transferred only when the trade is executed, saving users transfer and deposit fees typically charged on traditional exchanges. KNC holders even get discounts on trading fees. For example, anyone holding 2000 KNC in his wallet at the time of limit order creation will get 20% discount on fees! Discount is higher for higher amounts of KNC.

You can manage and cancel orders anytime. Most importantly, users maintain custody of their own funds at all times, improving security without sacrificing utility.

More details are provided on our Limit Order Page, Step-by-step: Use Limit Orders like a Pro, FAQs, and Limit Order infographic.

Instant trade

Remember the time when you wanted to buy a token and the order book was empty? Or when you’re asked to deposit tokens into a trading account and hope it’s secure? At KyberSwap, we’ve removed the need for order books and deposits, and your trade is executed almost instantly (~30 seconds). Bookmarking kyberswap.com can be extremely handy: Whenever you need a fast, simple, and secure token exchange, just connect your wallet and KyberSwap!

Trading Limit: Without KYC, each wallet address has a daily trading limit of $50,000 USD. You can even increase this limit by registering for a Kyber Network account. Upon approval, you enjoy NO restriction to your trading amount (subject to reserve capacity).

Check for the best Token Swap rates

In this example, purchasing 2000 BAT could give you a better rate than 6000 BAT

KyberSwap provides competitive rates, aggregating through various liquidity sources to give you the best token price for the quantity requested. The swap rate or price of the token varies depending on the token quantity requested (swap value). In general, a higher requested token quantity per swap results in a higher token price. KyberSwap provides a convenient visual aid on our interface to help you navigate the most competitive rates!

Protect against Rate Slippage

To protect traders, KyberSwap allows you to set a max slippage % for your trade in the More/Advanced menu.

Click ‘More’ on the web, or ‘Advanced (Optional)’ on the mobile app to see more options

By default Kyber sets max slippage at 3%. This means that after you are satisfied with the rate displayed and click ‘Swap Now’ (please check the rate again before confirming), the actual token swap rate executed will not be worse than 3% from what you indicated. If slippage is worse than 3%, the transaction fails. You can customize this % e.g. lowering it to 1% for greater rate protection. It’s important to note that sometimes you may enjoy an even better rate than what was shown to you at the start:)

Live Charts

Charts provide valuable data for any trader, especially when placing Limit Orders. Charts help you determine token buying or selling activity and trends, as well as help narrow down the entry or exit price point for any trade.

With KyberSwap, live charts are available for different time frames (1h, 2h, up to 1min) and different time periods (3 months and beyond). Popular technical indicators and charting tools are readily available for you to find the right trade.

Risk Management via Price Alerts

The volatile nature of cryptocurrency makes risk management absolutely essential. Token price moves 24x7 and it’s extremely difficult to track the prices all the time. To make life easier for everyone, KyberSwap allows users to set Price Alerts (details available here) to get notified whenever the token price hits your target alert level. It is one of our most popular features and like charts, it is also available for FREE.

KyberSwap sometimes run Prediction Games — a fun way for users to win exciting prizes for hitting their target price on Price Alerts!

Trade on mobile

We know that users cannot be on their laptop all the time. An increasing number of people around the world are becoming mobile-savvy, using smartphones for their entertainment and investment needs. Currently, it is also a hassle to connect your Ethereum wallet to mobile platforms.

As such, KyberSwap has released its iOS App and Android app to allow users to trade crypto on the go! Just connect your wallet once and enjoy the simplicity of token swaps and price alerts on your mobile phone.

Now on both iOS and Android!

You can even select (by clicking the star sign on the far right) and track specific tokens in a ‘Favourite’ watchlist. With one easy glance, you can look at all the tokens you’re considering buying. if the price is great, swap for it immediately!