What ACTUALLY happens when you swap in the Nimiq Wallet

What are atomic swaps and why do we need them? Cryptocurrencies are all about decentralization and removing the middlemen — with the goal of being able to exchange value with a complete stranger without requiring up-front trust. Open blockchains do a great job on offering transactions between anyone without any trust required upfront. But what if you want to change coin A for coin B? Or even exchange coins for something else, like Euro? Usually nowadays, you will move your coins to an exchange and cash out to Euro. Or you send Euros via bank transfer or credit card and buy crypto. But when you do that, you depend on that service to deliver the counter value to you. If they change their mind, for example demand extra documents, or simply get hacked, then your funds are inaccessible or even gone.
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