Crypto FX swap = exchanging one fiat currency for another using crypto as a "bridge".

It’s widely used to send money abroad, pay suppliers in USD/EUR, or protect against exchange-rate fluctuations.

How it works in practice - 3 most common ways

1. P2P / OTC - The most used by companies

It’s a direct swap with another person/company.

Step by step:

1. You send BRL via PIX to the person here in Brazil

2. Someone abroad sends you USD/USDT to your international exchange/wallet

3. Or vice versa: You send USDT, you receive BRL

Ex: You need to pay $10,000 USD in the USA You do a swap: R$ 55,000 BRL → USDT → $10,000 USD

Total fee comes to 0.5% to 1.5% versus 4% to 6% from the bank

Where to do it: Binance P2P, Bybit P2P, Mercado Bitcoin, Foxbit, or OTC desks

2. Using an International Exchange

1. Deposit BRL on the BR exchange: Foxbit, Mercado Bitcoin, Binance BR

2. Buy USDT/USDC with your BRL

3. Transfer USDT via the Tron TRC20 or BEP20 network to the international exchange

4. Sell USDT for USD/EUR at the foreign exchange: Binance Global, Kraken, Coinbase

5. Withdraw USD via TED/Wire to the overseas account

Cost: Purchase fee + network fee $1 + withdrawal fee $15-$30

3. Global Card + Stablecoin

1. Buy USDT in Brazil

2. Deposit to the crypto card: Bybit Card, Binance Card, Nomad Crypto

3. Spend dollars/euros directly. The card converts it on the spot.

Good for travel and small payments.

Fees you will pay

Item, Average Value

P2P/OTC spread 0.3% to 1.0%

Taxa Corretora 0.1% to 0.5%

USDT Network Fee (TRC20) $1

International Wire withdrawal $15 to $30

Total comes to between 0.8% and 2% versus 4% to 6% from the traditional bank.

Important points to watch

1. Legality: In Brazil you must declare it on your tax return (IR) and to Sisbacen if it exceeds $10,000 USD per month. It’s a legal transaction, but it must be declared.

2. Stablecoin: Use USDT or USDC. Avoids BTC/ETH volatility during the transaction.

3. Network: Use TRC20 or BEP20. It’s a $1 fee. If you use ERC20 it’s $15-$30.

4. Counterparty: In P2P, only negotiate with a “verified merchant” and use the exchange’s custody.

Quick example

You need to send R$ 55,000 to pay the supplier in $10,000 USD

1. Buy 10,100 USDT with R$ 55,000 on Binance BR. Fee 0.1%

2. Send 10,100 USDT via TRC20 to Binance Global. Fee $1

3. Sell 10,100 USDT for $10,000 USD. Fee 0.1%

4. Withdraw $10,000 via Wire. Fee $25

Total cost: ~R$ 300 to R$ 500