Why Every Web3 App Needs In-App Crypto Swaps (and How to Add Them in 15 Minutes)

\ Web3 moves fast. Blink and you’ll miss it. In this hyper-speed environment, user experience (UX) is everything. One feature that’s dominating the UX space in Web3 right now is in-app swaps. Think about it, users don’t want to be sending funds out of their wallet to another exchange, making manual swaps, and then sending them back.

\ That was a gigantic hassle, right until in-app swaps provided the solution. Users wanted to exchange tokens directly within dApps and decentralized wallets, without needing to jump to any external sites.

\ Now they can.

\ In-app swaps came along as a kind of mini crypto marketplace right within the applications people use most, building trust and confidence by making transactions more convenient, seamless, and efficient.

\ Win-win all round, wouldn’t you agree?

\ The modern Web3 user simply won’t tolerate friction. They want instant liquidity and smooth transactions at their fingertips. If you ask them to leave your application just to swap tokens, we hate to break it to you… they might never come back. Seriously.

\ In-app swaps are also a major hack when it comes to boosting revenues. You keep users engaged. They keep coming back. You create a new monetization opportunity, whether through transaction fees or increased platform activity. They become loyal users. It’s a symbiotic relationship.

\ Building a dApp and curious to hear more? We’re going to walk you through what a crypto swap integration looks like and why they are a must-have for any Web3 app that is really serious about staying competitive.

Web3 is a survival of the fittest type of space. Projects come and go in a flash, often because they were short of funding, didn’t find product-market fit, or just couldn’t execute on their initial ideas.

\ It’s become increasingly apparent that one thing that separates the winners from the losers is frictionless UX. In-app swaps are a major contributor to that, as by letting users swap crypto inside apps, you eliminate one of their biggest obstacles: needing to leave the platform.

\ Why would users stick around if they have to navigate external platforms just to swap tokens and get anything done? Frankly, it’s annoying. Every second they spend outside your app is one second closer to abandoning it altogether. Keep them on your platform with integrated swaps and you avoid a significant number of drop-offs.

\ It all comes down to human nature. Convenience is king. We love it. Even if we don’t always want to admit that we are creatures of comfort or habit, it’s true. We usually want to take the easiest or most efficient path forward. We don’t want extra steps and more confusion, we want the tools at our fingertips to work and for our DeFi experiences to be seamless.

\ This is a non-negotiable, right?

\ Web3 product teams are always seeking ways to optimize their tools, and now they have an easy way to boost retention with crypto swaps. Their logic is solid. Acquiring new users is thought to be five to seven times more expensive than retaining existing ones. Researchers have also found that returning customers spend about 67% more, over time, than new customers.

\ Here’s a little case study.

\ Safe, a popular crypto wallet, tracked user retention data on a feature-by-feature basis, finding that after transfers (sending crypto), the next most “sticky” feature was native crypto swaps. They found that users who performed native swaps in dApps using Safe accounts had a 4-week retention rate of 28.22%, compared to 3.16% for average account users. By simplifying the swapping process and handling it natively, they achieved a Web3 UX improvement and kept users engaged for longer.

\ For the dApps considering a crypto swap integration, nothing is more important than your competitive edge. Remember, it’s survival of the fittest.

\ Right, let’s look at some use cases.

First up, wallets. Think of popular wallet apps like Exodus, Atomic Wallet, and Trust Wallet. They’ve become the go-to wallets for managing digital assets, like cryptocurrencies and NFTs, and they all have one thing in common: crypto swap integrations. Their users are able to seamlessly swap tokens from within the wallet, saving them from having to go to a DEX.

\ Next, we have DeFi dashboards, like Zapper and Zerion. These are platforms that collect and aggregate data from loads of different protocols, giving users a bird’s-eye view of their DeFi activities. With so much competition in this space, Zapper and Zerion managed to establish themselves as leaders by introducing the ability to convert tokens inside dApp interfaces. This made the dashboards indispensable and convenient for their users.

\ The next use case worth mentioning is NFT games. Imagine playing a blockchain-based game where you need to buy in-game tokens to level up or unlock certain features. With in-app swaps, players can instantly buy, sell, or trade tokens without interrupting their gameplay. Gamers stay immersed, while developers boost engagement, retention, and perhaps most importantly, revenue!

\ Finally, launchpads and yield platforms. These platforms have traditionally required users to hold specific tokens to participate in IDOs or to earn rewards. This is poor UX, and frustrating for some. However, if they add token swap functionality to wallet UIs, they instantly make it easier for users to get hold of the necessary digital assets on the spot. No friction necessary.

\ Now, it’s time to talk about making money.

Of course, UX should be your first priority, but naturally, you’ll be thinking about the income possibility of any improvements and integrations you make. Well, the good news is that in-app swap mechanisms are a goldmine for monetization and have the potential to turn your dApp into a revenue-generating machine.

\ First, you can make money through commission from swaps. You can choose whether to take a small percentage of each transaction, or add a small markup. Either way, every swap made through your dApp puts money directly in your wallet. Can you smell the dollar signs?

\ Secondly, you receive a considerable boost to your Total Value Locked (TVL). When users can easily swap tokens, they are encouraged to keep their assets within your ecosystem. More assets = more opportunity to offer lending, staking, and yield farming. These services also present opportunities for further revenue generation. The opportunity is literally compounding.

\ Here’s a third win you might not have considered. User stickiness and lifetime value (LTV). When users don’t have to leave your app to perform their swaps, they stay longer, engage more often, and perform more transactions. This dramatically increases the likelihood of them exploring your other features.

\ Cross-chain swaps present another major opportunity. Going beyond simple swaps on the same chain or network, these cross-chain transactions offer a way to tap into a much broader audience. As you open your platform up to these possibilities, you invite more transactions, and therefore (you guessed it), greater monetization.

\ Finally, with a white label swap API, such as the one offered by ChangeNOW, you can customize the experience to match your brand, while still continuing to earn with every single transaction. Why should you have to compromise on your aesthetics? Well, now you don’t.

\ You might be wondering how to get started with this integration. Here’s how…

Ready for next-level upgrades to your Web3 app? It’s time to add in-app swaps. Here’s how.

\ First, you need to choose a reliable swap provider. Naturally, we’d like to put ourselves forward, however, you may prefer other options, like 1inch or Li.Fi. These partners also offer robust Web3 swap APIs and crypto swap widgets that make integration simple, handling the heavy lifting, like liquidity, security, and compliance, to make your lives easier.

\ ==Next, choose your integration method. Developers seeking flexibility should go with the API, as it allows full customization and control over the swap experience. For those who prefer simplicity, they can get a plug-and-play experience with no coding required, by opting for the widget or iFrame.==

\ Here’s a quick breakdown of the steps:

\

1. Get your API key: Sign up with your chosen provider and grab your unique key.
2. Set parameters: Define basics like fromToken, toToken, and walletAddress.
3. Integrate: Drop the code snippet into your app or embed the crypto swap widget.

\ View the full API documentation here for details.

\ Just like that, your dApp has instant crypto swap functionality. The beauty of this approach is that it’s fast, scalable, and cost-effective, saving you from the headache of building liquidity pools or worrying about maintenance. So, why wait? Use ChangeNOW for Business to integrate a compliant and fast DeFi swap API in minutes.

Weighing up your options can be tricky. However, this list should make the process quite a lot easier. 

\

1. Security and Compliance: Your users’ trust is everything, so you need to make sure your provider’s security is as robust as your ambitions. Encryption, multi-sig wallets, and abiding by regulations should come as standard. Nobody wants to deal with hacks or legal headaches.

   \

2. Token Support: The more tokens an in-app swapping tool offers, the better. So, search for providers that offer a wide range of assets. If they support cross-chain swaps, even better! This ensures your app can meet the needs of a diverse user base.

   \

3. Revenue Model: How does the partner handle fees, and are they wholly transparent about it? Some swapping services offer revenue-sharing models, where you get a cut of each swap, whereas others allow you to add a markup or charge a flat fee. Crunch the numbers and choose the one that aligns best with your monetization strategy.

   \

4. Branding Options: You want your dApp to stand out, right? This is where white label solutions come in clutch. They let you customize the swap interface to match your brand seamlessly. If branding isn’t a priority for you, co-branded options are often available too.

   \

5. Support and Documentation: Integration should be smooth sailing, but it’s not always the case. Look for providers who offer comprehensive documentation, developer-friendly DeFi swap APIs, and responsive support teams (bonus points for video tutorials and code snippets). 

\ ChangeNOW ticks all the boxes, with top-notch security, support for over 1,200 crypto assets, cross-chain swaps, flexible revenue models, white label options, and stellar docs.

\ Now, it’s time to wrap things up. Let’s move on.

In-app swaps are THE game-changer for Web3 apps. As we’ve covered in detail, they enhance user experience by keeping transactions seamless, boosting monetization through commissions, retention, and increased engagements, and making integration easy with plug-and-play crypto swap API options.

\ Whether you’re building a wallet, a DeFi dashboard, or an NFT platform, we can help you get this impressive feature up and running to take your app to the next level. Start integrating ChangeNOW for Business. It’s fast, secure, and designed to help you succeed.

\ Your users and your revenues will thank you.