> For the complete documentation index, see [llms.txt](https://docs.cwallet.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.cwallet.com/spot-trade/common-issues/why-cannot-swap-a-token.md).

# Why Cannot Swap a Token

**If a token can't be swapped, it is usually because its liquidity is too low right now.** 

When a token's liquidity drops below a safe level, Cwallet automatically takes it offline in Swap to protect you from unfair prices. It may become available again once liquidity recovers.

### Why does low liquidity matter?

When there isn't enough liquidity, even a small swap can move the price a lot. This is called **price impact**, and it means you would get far less than the token's market value. Taking the token offline protects you from these unfavorable rates.

### How does Cwallet decide which tokens can be swapped?

Cwallet's automated system monitors each token's liquidity in real time:

* **Enough liquidity for fair pricing:** the token stays available in Swap.
* **Liquidity below the safe level:** the token is taken offline until liquidity recovers.

This means the list of swappable tokens changes over time, depending on market conditions.