You are welcome to learn more about every step of the crypto exchange on SimpleSwap.
The cryptocurrency exchange time varies from 5 to 60 minutes. However, sometimes a transaction takes more time, this could be due to a number of factors:
1. Overload of the blockchain
2. Periodical coin updates
3. A certain number of confirmations is required to continue the exchange
A crypto wallet is an alternative to a physical wallet, which exists only in a digital form. Such a wallet is responsible not only for the safety of your coins, it also includes private and public keys that are necessary for conducting the transactions. Each wallet contains information about the availability of the user's coins. A private key is a kind of password that looks like an alphanumeric string. You need the private key to access your wallet.
This information must be private and well-protected. Don’t show or send your private key to anyone, no one should ask you to do this! A public key is a wallet address. It looks like an alphanumeric string too. The wallet address is provided to other users. It is used to receive cryptocurrency.