What is slippage and taxes
Slippage is an allotted percent you are willing to gain/lose to purchase a token. It is the difference between the trade expected price and the actual price.
Slippage can fluctuate depending on multiple things, such as the number of users buying it, network congestion, low liquidity, etc. When setting slippage, you allow Swych to execute a transaction up to the percentage difference. Once that transaction is executed, it cannot be undone.
Slippage will always use the lowest amount before going to your maximum set. Slippage fees are not given to Swych; again, they are only the percentage you are willing to lose/gain to acquire the tokens you are trading for.
Please also note that your transaction may fail if your slippage is too low.
Depending on the crypto you buy, you may see a "tax" to buy or sell said token. These fees are different from Slippage, Swych fees, or traditional taxes.
Token Taxes are regulated by the token lister and can be used as ways to gain additional funds for their project, towards dedicated burns, money set to charity, and so on. To purchase a token with taxes, you will need to set the slippage to the tax amount for the transaction to succeed.
For example, if a token has a 13% buy tax, you would need to enter a 13% slippage for it to succeed at the minimum. You may need to slowly increase the slippage past that 13% to account for market volatility and congestion.
It's important to read if your investment project has taxes and where they go. This also better prepares you for how many tokens you will receive after buying and selling.