What is an atomic swap? Put simply, an atomic swap is a peer-to-peer trade of cryptocurrencies. It is a decentralized and completely trustless method of exchange. An atomic swap is made directly from one user to another, wallet-to-wallet and blockchain-to-blockchain.
An atomic swap does not require any form of centralization. There are no proxy tokens, escrow services, or other third parties. This allows traders to retain control of their private keys during the entire exchange process.
As a result of these benefits, atomic swap trading is far more secure and far less expensive than trading on centralized exchanges.