diff --git a/lib/view_model/exchange/exchange_view_model.dart b/lib/view_model/exchange/exchange_view_model.dart
index 0373f5e24..f44dff6d2 100644
--- a/lib/view_model/exchange/exchange_view_model.dart
+++ b/lib/view_model/exchange/exchange_view_model.dart
@@ -1047,6 +1047,27 @@ abstract class ExchangeViewModelBase extends WalletChangeListenerViewModel with
 
   @action
   Future<void> createTrade() async {
+    // Ignore repeated taps while a trade is already being created
+    if (tradeState is TradeIsCreating) return;
+
+    // Set synchronously, before the first await, so the swap button shows its
+    // loading state and further taps are ignored right away
+    tradeState = TradeIsCreating();
+
+    try {
+      await _createTrade();
+    } finally {
+      // Never leave the swap button stuck in its loading state
+      // (e.g. if an unexpected exception is thrown)
+      if (tradeState is TradeIsCreating) {
+        tradeState = TradeIsCreatedFailure(
+            title: S.current.trade_not_created,
+            error: S.current.none_of_selected_providers_can_exchange);
+      }
+    }
+  }
+
+  Future<void> _createTrade() async {
     final depositAmountValue = _depositAmount ?? Money.zero(depositCurrency);
     final receiveAmountValue = _receiveAmount ?? Money.zero(receiveCurrency);
 
@@ -1335,7 +1356,8 @@ abstract class ExchangeViewModelBase extends WalletChangeListenerViewModel with
       ///
       /// this is because the limitation of the SplayTreeMap that
       /// you can't modify it while iterating through it
-      Future.delayed(Duration(milliseconds: 200), createTrade);
+      await Future<void>.delayed(Duration(milliseconds: 200));
+      await _createTrade();
     }
   }