Using cryptocurrency exchanges is challenging, especially for people who just want to quickly and easily trade one coin for another. That problem is what SimpleSwap wants to fix.
This non-custodial exchange was made to make it easier to swap cryptocurrencies by letting users do it right away, without having to sign up or lose control of their money. Its interface design and usability have made it more popular with casual traders who want to keep their crypto private and easy to use.
In this SimpleSwap review, we'll talk about how the platform works, its most important features, safety measures, fees, user reviews, and how it stacks up against other instant crypto exchanges.
What Is SimpleSwap?
SimpleSwap is a cryptocurrency exchange platform that doesn't hold your coins and lets you quickly swap one coin for another without having to create an account or store your coins on the platform. It was started in 2018 and works as an aggregator, getting liquidity and pricing from different exchanges to find the best rate for each transaction.
Because SimpleSwap doesn't keep user funds, all swaps happen directly between your wallet and the exchange partners on the platform. You just pick the coins you want to trade, give them a wallet address to send the money to, and the converted crypto will be sent to your wallet in a matter of minutes.
SimpleSwap supports over 1,000 cryptocurrencies and is a non-custodial approach to trade assets while keeping full control of your money. It has a simple interface and doesn't require registration, which makes it attractive to both new and experienced crypto users who value speed and privacy.
How SimpleSwap works
You don't have to sign up for an account to use the platform. SimpleSwap cryptocurrency exchange speeds up and simplifies the exchange process. This is how the swap process works, step by step:
- Select the cryptocurrencies. Pick the cryptocurrency you want to send (like Bitcoin) and the one you want to get (like Ethereum). The platform automatically shows real-time rates from a number of liquidity providers.
- Paste the address of the wallet that will receive the money. Check the details of the address twice to make sure it matches the right blockchain network, like ERC-20 or BEP-20.
- Check the coins, amounts, and wallet where they will go and make sure they are correct. Click "Exchange" when everything looks right.
- Send your cryptocurrency to the address for deposits. A deposit address will be made by SimpleSwap. This step starts the swap process: send your money from your wallet to that address.
- Wait for the blockchain to confirm. The transaction is verified on the blockchain. Confirmation time depends on network load and the type of cryptocurrency being exchanged.
- Review the swapped crypto. SimpleSwap automatically finishes the exchange after the transaction is confirmed. The new crypto goes straight to the wallet address you gave us before.
Fees and exchange rates
SimpleSwap exchange has a clear pricing system. The platform doesn't charge extra service fees; the costs are already included in the exchange rate you see before you confirm a swap.
You can choose between floating rates, which follow real-time market prices, and fixed rates, which lock in for a few minutes to avoid changes. Exchange rates are based on data from different liquidity providers.
There is also a network fee that goes to blockchain validators with every transaction, not to SimpleSwap. There are no hidden SimpleSwap fees, and the amount you see before you confirm is the amount you get.
Is SimpleSwap safe?
Yes, SimpleSwap is generally considered a safe and legitimate non‑custodial cryptocurrency exchange. Its model doesn't require users to give up control of their crypto at any time. The platform uses HTTPS and AES encryption for all data transfers and does not keep private keys or personal information.
But user reviews present a mixed picture. SimpleSwap exchange has a 3.6 out of 5-star rating on Trustpilot. A lot of good Simpleswap reviews mention quick transactions, a lot of coins that can be used, and helpful customer service.
“I had always used SimpleSwap, but this time it got stuck for some reason. Swap wouldn't finish, but Stephanie from SimpleSwap came to the rescue. My swap was complete within a couple of hours. This was a really fast and easy process.” Felix Mendoza shared his thoughts in the comment.
As noted by 14% of reviewers on Trustpilot, they have had problems with network confirmations or are confused by changes in rates. These are problems that happen with instant exchange services that use blockchain confirmations and market conditions.
“Been waiting over 12 hours, and my conversion from BSV to LTC still hasn't registered a confirmation yet. No chat support or email reply yet either,” Trustpilot user Lister Coray commented.
SimpleSwap is safe when it comes to security and fund control, but users should still be careful, double-check all transaction details, and know how different rate types work before confirming exchanges.
Customer support
SimpleSwap offers 24/7 customer support through live chat and email at [email protected]. There is also a detailed FAQ section on the platform where users can find step-by-step guides, help with problems, and information about supported assets and rates.
But people have different opinions about the customer service. According to Trustpilot reviews, 70% of users rate the support team as quick and professional, noting their efficiency in resolving issues and manually handling delayed transactions when required.
On the other hand, 10% of reviewers talk about slow responses, inconsistent communication, or "ghosting," especially when there are a lot of people using the service or when transactions get stuck because of blockchain congestion. The different experiences show that SimpleSwap does have active support, but how quickly it responds may depend on the time and the complexity of the case.
Pros and cons of SimpleSwap
If you want to keep things simple and have control over your trades, SimpleSwap is a good choice. However, it does have some drawbacks depending on what you need to trade.
SimpleSwap alternatives
There are a number of other instant cryptocurrency exchange platforms that offer services like SimpleSwap. Each one has its own pros and cons when it comes to rates, features, and how easy it is to use.
1. Changelly
Changelly is one of the oldest and most reliable instant exchange services. Like the SimpleSwap exchange, it has both floating and fixed rates. It also lets you buy things with credit cards. Users, on the other hand, need to do KYC verification before they can use fiat. Because it works with wallets and exchanges like Binance, it is a good choice for people who want a more feature-rich ecosystem.
2. SwapSpace
As an exchange aggregator, SwapSpace compares rates from a number of services, including SimpleSwap itself. The best thing about it is that it lets users compare rates so they can choose the best deal. Like SimpleSwap, it doesn't require registration and isn't custodial, but its interface is usually a little more cluttered.
3. ChangeNOW
With ChangeNOW, you can swap without having to set up an account. It stands out because it has higher transaction limits and quick confirmations. It offers both fixed and floating rates, just like SimpleSwap. But its rates might have a spread that is a little higher than SimpleSwap's.
4. StealthEX
StealthEX is another non-custodial SimpleSwap alternative that focuses on privacy, speed, and anonymity. It supports a lot of different cryptocurrencies and doesn't need KYC. The main difference is that StealthEX often offers longer liquidity options, which makes it a good choice for people who want to trade less common tokens.
Conclusion
SimpleSwap crypto exchange lets users trade cryptocurrencies without needing to create an account or relinquish control of their funds. It has a non-custodial model, an easy-to-use interface, and a wide range of supported assets, which makes it appealing to people who value privacy and simplicity.
Not all user experiences are positive. The service works well for most people, but it may not always work well, depending on the network and time.
SimpleSwap functions as a non-custodial swap platform, but users need to check transaction details beforehand and be aware of potential support or timing issues that are common in instant exchange services.
FAQs
Is SimpleSwap legit?
Yes, SimpleSwap is a legitimate non‑custodial crypto exchange operating since 2018. SimpleSwap company is registered under Simpleswap Ltd., U.K. It’s safe to use, though user reviews are mixed. So take caution and start trading with small amounts first.
What is the minimum amount to swap on SimpleSwap?
SimpleSwap doesn’t set strict limits on cryptocurrency exchanges. But every transaction has to pay the blockchain network fee, which changes based on the coin and the state of the network.
The platform wants to keep the minimum amount of money that can be exchanged as low as possible. However, if the deposit is less than the required minimum, the transaction can't go through, and there is no guarantee of a refund. Before you make a swap, SimpleSwap automatically shows you the least amount you need for that exchange pair.
Which coins can I exchange with SimpleSwap?
SimpleSwap lets you exchange over 1,000 cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Avalanche (AVAX), and Solana (SOL), as well as a lot of other altcoins and tokens on different blockchains. The platform keeps adding new assets, so it's good for both well-known and less well-known coin swaps.
Matvii Diadkov
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