What is the Swaps feature on Kraken Wallet?

Swaps are currently only available on and between select blockchains. New chains will be added periodically.

You can opt for “Best value”, which optimises the transaction to ensure you get the highest minimum output, or “Fastest Transaction Speed” which finds the optimal route and network fee to get your swap finished in the shortest amount of time.

Kraken Wallet’s Swap feature automatically identifies a route for every swap that aggregates liquidity from the best available sources leveraging decentralized exchanges and bridges.

Kraken Wallet is introducing Swaps by giving you access to the feature without charging any Kraken-based fees, although that does not mean a swap does not incur any fees.

Onchain actions typically have Blockchain gas fees, as indicated by the “Network fee” amount in the quote, and if your swap is cross-chain, the bridge that is used may also charge a fee, indicated by the “Bridge fee” amount.

Slippage is the difference between the price that a swap is estimated at and the actual price when the trade executes. This can be caused by a swap being placed and the price changes in the time between the order being created and executed.

It will also happen when an order is large enough that it is split between many trades. You can adjust this setting in the “Rate” section of the quote by pressing on the pencil icon and choosing between 0.5%, 1%, 3%, and your own custom percent. The default setting is 0.5%.

If slippage occurs, this is the minimum amount of tokens you will receive when the transaction is finalized.