How to swap on Bifrost Wallet?

Inquiring minds want to know: Could you elaborate on the process of executing a swap on the Bifrost Wallet? For those unfamiliar with the platform, could you break down the steps involved in a concise yet comprehensive manner? Are there any prerequisites or specific settings that need to be configured before initiating a swap? Additionally, are there any fees associated with the swap process, and if so, how are they calculated? Clarifying these points would greatly assist users in navigating the Bifrost Wallet and executing swaps efficiently.