Let’s say you own a lot of Bitcoin, but you think that Ethereum is going to soar any time soon. You have to change your BTC to Eth quickly and at a low cost so the investment is worth it. This is where SwapSpace shines, playing the role of a crypto matchmaker on steroids. 

But there are many exchange platforms, so what makes SwapSpace so special? Well, let’s review this platform from the bottom and decide whether it is worthy of your crypto and your time.

SwapSpace Overview: What is SwapSpace?

SwapSpace is far from being an ordinary crypto exchange. This one is an aggregator that searches through the offers of the main instant exchanges for the most favorable rates for your swap. Launched in 2019 and registered in Estonia, SwapSpace has been steadily growing in popularity among crypto users in need of fast and easy crypto swaps.

What distinguishes SwapSpace from other similar platforms is its focus on choice and minimalism. There are more than 1750 tokens for swapping and it also includes prominent cryptocurrency platforms such as Binance, KuCoin, and 1inch as its partners. This platform let’s you exchange, buy and sell crypto, and spend crypto on things like gift cards, Nord VPN subscriptions, and more.

But here’s the best part: you don’t have to register an account or pass KYC procedures to access it. Select, exchange, and move—that is how easy it is to use the system. Instead of wondering why exchanges cannot play nicely and share rates with each other, SwapSpace is here to save the day.

SwapSpace Pros and Cons

Like any platform in the crypto space, SwapSpace comes with its own set of strengths and weaknesses. Let's break them down:

Pros

  • Vast selection: With over 1,750 cryptocurrencies supported, SwapSpace is like the Walmart of crypto - you can find almost anything you're looking for.
  • No additional fees: SwapSpace doesn't charge extra fees on top of the exchange rates, potentially saving you some crypto.
  • User-friendly interface: Even if you're not a crypto degen or trader, SwapSpace's intuitive design makes swapping as easy as pie.
  • No registration is required: Although KYC is becoming the norm, SwapSpace's no-account-needed policy is a breath of fresh air for people who love privacy.
  • Best rate aggregation: By comparing rates across multiple exchanges, SwapSpace helps you get the best bang for your crypto buck.

Cons

  • Limited trading options: If you're looking for advanced trading features like stop-loss orders or margin trading, you're out of luck with SwapSpace.
  • No mobile app: In 2024, not having a dedicated mobile app feels like showing up to a party without pants - a bit awkward and potentially limiting for on-the-go traders.
  • Dependent on partner exchanges: SwapSpace's service quality is only as good as its partners, which could lead to issues if a partner exchange faces problems.
  • No fiat on/off ramps: While SwapSpace excels at crypto-to-crypto swaps, you'll need to look elsewhere if you want to buy crypto with fiat or cash out to your bank account.

SwapSpace at a Glance

Let's break down the key features of SwapSpace in a handy table:

Feature

Details

Supported Cryptocurrencies

1,750+

Exchange Partners

25+

Registration Required

No

Mobile App

No

Fiat Support

No

Additional Fees

No

Fixed rates are available.

Yes

Customer Support

24/7

Minimum Swap Amount

Varies by cryptocurrency

Maximum Swap Amount

No limit

Is SwapSpace Safe and Reliable?

When it comes to crypto, safety is an important factor. So, is SwapSpace the digital equivalent of Fort Knox or more like a paper wallet?

SwapSpace takes security seriously, implementing several measures to protect user transactions:

  1. Non-custodial transactions: The Exchange never holds your funds, which makes a hacking attempt or an inside job incredibly unlikely.
  2. SSL encryption: Encryption safeguards every piece of data shared through the platform, protecting your personal information.
  3. Partner vetting: SwapSpace is wise when choosing an exchange service, cooperating only with secure platforms to avoid potential issues.

Nevertheless, it should be noted that there isn’t any platform that can be considered absolutely secure. Despite SwapSpace's lack of security problems, user behaviours and partner exchange collaboration effect fund safety.

In terms of reliability, SwapSpace has quickly gained popularity among users since the platform was launched in 2019—so its safe to say they’ve been reliable so far. But don’t take my word for it, on TrustPilot, it has a score of 4.6 out of 5, where clients praised it for being sleek and straightforward while offering affordable prices. However, as with any aggregator, SwapSpace’s dependability depends on the efficiency of the exchanges with which it cooperates.

Fees & Commissions on SwapSpace

No additional fees are charged for using the platform directly. However, this does not mean that swaps are free. The rates you see on SwapSpace also contain the fees that partner exchanges may charge. These fees may differ depending on the involved cryptocurrencies as well as the specific exchange that is used for swapping operations.

Also, there are network fees to consider when carrying out transactions with blockchains. These fees are paid to miners or validators of the respective networks and may vary depending on traffic.

Nonetheless, it is worth noting that SwapSpace does not charge additional fees, although the rates may not be the lowest available in the market. While offering some of the most competitive rates, the platform ensures its users that the partner exchanges are reliable and swift.

SwapSpace Alternatives

While SwapSpace is making waves, it's not the only fish in the sea. Let's take a look at some alternatives that might tickle your crypto fancy:

CEX.io

CEX.io started in 2013 and has grown to be a one-stop-shop cryptocurrency trading platform for beginners and professional traders. With over 5 million registered users, CEX.io boasts a well-rounded service portfolio and a plethora of supported cryptocurrencies alongside various options. It offers 119 coins and 369 trading pairs, with features that range from instant buying to margin trading.

Compared to SwapSpace, where it focuses mostly on an aggregator, CEX.io provides a solid basis for trading needs with a more familiar exchange-like interface.

Review on CEX.io: CEX.io Review - Full Overview of CEX.io Crypto Exchange

BitMEX

BitMEX is a platform for trading derivatives. It mainly targets day traders and provides spot trading and perpetual contracts, with trading fees of 0.075% for takers and 0.025% for makers. A major advantage of BitMEX is that it offers complex trading features with a range of possible orders, making it ideal for big traders who need high throughput.

However, it is essential to remember that BitMEX is specifically designed for professional traders, and thus, it is not without its drawbacks that might not appeal to every user. Also, BitMEX limits withdrawals to some hours of the day, and this is not suitable for users who want to have constant access to their money.

Related: Anti-Money Laundering Case: BitMEX Admits Guilt To Violating Bank Secrecy Act

Bitstamp

Established in 2011, Bitstamp is one of the most reputable crypto exchange platforms available on the market today. Based in Luxembourg and operating in several locations such as Luxembourg, Singapore, Slovenia, the UK, and the USA, Bitstamp has 50 licenses and registrations to its name.

Bitstamp is a company that has a focus on customers, as evidenced by their live customer support, with over 500 employees. Another example is the platform’s motto, “Your crypto is always yours,” supported by the assurance of the 100 percent asset back and the customer funds being stored separately from the funds belonging to the company.

Related: Bitstamp Review – Full overview of Bitstamp Crypto Exchange

FAQ about SwapSpace

Is SwapSpace still trustworthy? 

Established in 2019, SwapSpace has always been considered a reputable platform in the context of the cryptocurrency industry. It must also be stressed that the platform is transparent, cooperates with trusted exchanges, and has a number of satisfied customers. You should begin with penny transactions and always investigate any crypto site.

Is SwapSpace good for beginners? 

SwapSpace is perfect for newcomers since it has a straightforward swap system and a clean interface. Due to its no-registration policy and aggregator feature, newbies can search for the lowest prices for cryptocurrencies without understanding exchanges.

Is SwapSpace better than other crypto-exchanges? 

SwapSpace is not necessarily “better” than other exchanges, but it definitely has its advantages. Its aggregator model gives users the opportunity to get the best rates from several exchanges at once. However, traditional exchanges may be more suitable for users who are interested in complex trading functionality or the conversion of fiat currencies.

What are the disadvantages of SwapSpace? 

The main disadvantage of using SwapSpace is a restricted choice of methods to trade, the absence of options like stop loss, take profit and trailing stop, and a mobile application. However, one downside could be the lack of fiat support, which might be an issue for some users.

Is SwapSpace trusted among crypto-influencers?

SwapSpace has attracted a lot of attention from the crypto community but major influencers do not discuss it as much as other exchanges. However, there are some favourable reviews of the platform's usability and cost by crypto review websites and a few low-level influencers.

Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL FM is not a financial reference resource and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice of this sort, HODL FM strongly recommends contacting a qualified industry professional.