Crypto Swap Rates: The Fee Trap That Can Cost You Crypto

Comparing crypto swap rates can be misleading when focusing solely on fees. A lower fee does not always translate to more crypto in your wallet, according to Monivo's Crypto Swap Rate Index.

The index aggregates quotes from various providers for the same request and examines the expected payout, taking into account exchange fees, network costs, and liquidity. The median gap between the best and worst quotes was 2.55%, with differences depending on the trading pair.

BTC to ETH had a median spread of 1.96%, while XMR to BTC reached 3.65%. A wider gap does not necessarily mean one provider is overcharging, as liquidity depth, network costs, and route availability can lead to different payouts.

Fixed and floating rates require separate comparison, with the amount sent affecting the result due to varying liquidity and routing costs. Quotes can change quickly, so users should check fresh quotes rather than assuming yesterday's cheapest provider will remain the best option today.