In This Article
SimpleSwap is an easy to use, reliable exchange service that lets you make anonymous crypto-to-crypto exchanges on over 2,800 cryptocurrencies, as well as buy or sell cryptocurrencies for fiat.
In this review, we’ll go over SimpleSwap’s services, fees, availability and customer support.
SimpleSwap Review Summary
SimpleSwap is a cryptocurrency exchange service that allows users to swap over 2,800 cryptocurrencies without requiring identity verification (KYC). It also supports fiat-to-crypto and crypto-to-fiat transactions through a partnership with Mercuryo, Simplex, Guardarian, and others (which do require verification).
Key Takeaways
- Crypto-to-crypto swaps with no registration or KYC.
- Fiat-to-crypto & crypto-to-fiat exchanges (requires verification).
- Supports Visa & MasterCard for fiat transactions.
- No fixed fees—exchange rates include all costs.
- No maximum transaction limits for swaps.
- Customer support available 24/7 via live chat.
SimpleSwap Overview: What is Simpleswap?
SimpleSwap is a user-friendly, self-custodial crypto swap platform that was founded in 2018 and is based in the Marshall Islands. The platform offers users the ability to quickly make crypto-to-crypto swaps, while also offering the option to buy or sell crypto for fiat currency.
SimpleSwap is partnered with some of the biggest exchanges like Binance, Kraken, KuCoin and OKX to help make the exchange process as fast as possible. This also means that users don’t have to compare between exchanges to find the best exchange rate, since SimpleSwap will give them the best rate automatically.
SimpleSwap Services: How Does SimpleSwap Work?
SimpleSwap connects with well-known cryptocurrency exchanges to offer users the best exchange rates available. When you enter the amount and the type of cryptocurrency you want to trade, SimpleSwap searches for the best rate, processes the transaction, and sends the exchanged crypto directly to your wallet.
Crypto-to-Crypto Exchange
The main service SimpleSwap provides is the ability to quickly and easily swap one cryptocurrency for another. There are over 2,800 crypto assets supported and 3.2M+ of exchange pairs to choose from.
With SimpleSwap you can anonymously exchange between cryptos, since you don’t need to provide any personal information to make crypto-to-crypto exchanges. All you need to provide is the address you want the coins sent to.
To make an exchange, simply select the crypto you have, enter the amount you wish to trade, and select the crypto you want to swap it for. SimpleSwap will then compare the exchange rate among all their partner exchanges and provide you the best exchange rate – with all fees included in the final quoted price.
You can also choose between a fixed exchange rate or a floating rate; a fixed exchange rate guarantees that you will receive the quoted amount regardless of market volatility, whereas if you choose a floating exchange rate you may receive more or less coins than quoted due to market volatility and ever changing prices.
Fiat-to-Crypto Exchange
SimpleSwap also lets you buy crypto using fiat currency, or sell your crypto in exchange for fiat currency. SimpleSwap has partnered with Mercuryo to facilitate fiat-to-crypto and crypto-to-fiat orders, but you’ll need to provide some personal details to complete this type of transaction.
The process is very similar to the crypto-to-crypto exchange. Select the currency that you want to exchange, along with the amount and the currency you want to receive. SimpleSwap will then provide an estimated amount you will get in return. If you’re happy with the exchange rate, you can proceed to the Mercuryo page to complete the payment (if you are buying with fiat currency).
If it is your first time using the service, you will need to go through the identity verification process before being able to complete the transaction using a credit or debit card.
Currencies & Payment Methods
Fiat-to-Crypto and Crypto-to-Fiat
If you’re looking to make a fiat-to-crypto exchange, then there are a variety of fiat and crypto currencies supported.
Supported fiat currencies include:
- US dollar (USD)
- Euro (EUR)
- British pound (GBP)
- Russian ruble (RUB)
- Turkish Lira (TRY)
- Ukrainian Hryvnia (UAH).
Cryptocurrencies supported for fiat trades are:
- Bitcoin (BTC)
- Ether (ETH)
- Algorand (ALGO)
- Basic Attention Token (BAT)
- Bitcoin Cash (BCH)
- Dai (DAI)
- Tether (USDT)
- Tron (TRX)
Currently, the only supported fiat payment method is credit or debit card, with SimpleSwap’s partner Mercuryo only accepting Visa or MasterCards. At the moment, wire transfers, SEPA transfers or PayPal payments are not accepted.
Crypto-to-Crypto Trades
As far as crypto-to-crypto exchanges go, there are over 2,800 tokens supported with 3.2M+ of exchange pairs available.
SimpleSwap supports all major cryptocurrencies, including BTC, ETH, LTC, XMR, SOL, BNB and many more.
For a full list of supported tokens, check out the list on their website.
Fees
SimpleSwap does not charge a fixed percentage or fee for their services, but instead calculate the fee at the time of your transaction and include it in the quoted amount.
The platform doesn’t hold or store your coins for you, so there aren’t any deposit or withdrawal fees to worry about.
Exchange fees on SimpleSwap will depend on the network fees at the time, as well as trading fees with their exchange partners. This means that fees will vary depending on the currency pair, the time of the transaction and the status of the coin network.
How to Use Simple Swap?
For fiat transactions, users must complete a verification process before making payments via Visa or MasterCard. Otherwise, the process is straightforward:
- Select Currencies – Pick the cryptocurrency you want to exchange and the one you want to receive.
- Enter Amount – Decide how much you want to swap.
- Provide a Wallet Address – Enter the address where you want to receive the new cryptocurrency.
- Confirm Transaction – Review the details and approve the exchange.
- Send Payment – Transfer the funds to the deposit address provided.
- Receive Your Crypto – Once the transaction is processed, your new cryptocurrency will be sent to your wallet.
How to Buy Crypto on SimpleSwap
- Go to the SimpleSwap website and open the “Buy/Sell Crypto” section.
- Select your fiat currency and enter the amount.
- Choose the cryptocurrency you want to buy.
- Enter the wallet address where the crypto will be sent.
- Accept the terms and proceed to checkout.
- Complete identity verification if required.
- Make the payment using available methods.
Buying Limits
When it comes to buying limits, SimpleSwap has no maximum transaction limit. This applies to both fiat-to-crypto and crypto-to-crypto swaps, meaning that you can exchange as much crypto as you like without worrying about reaching any limits.
The amount you can swap in a single transaction will still depend on the current liquidity of the market, which may limit the amount you can swap in one go.
SimpleSwap does not have a minimum transaction size, however the transaction amount must be enough to cover any network fees associated with the transaction.
Supported Countries
On SimpleSwap, crypto-to-crypto exchanges do not require you to create an account, so you will be able to exchange your crypto from anywhere in the world.
When it comes to fiat-to-crypto exchanges, there are some restrictions on where you can use the service. Residents from countries such as China, Bangladesh, Colombia, Cuba, Morocco, Pakistan, Saudi Arabia and Venezuela are prohibited from making fiat-to-crypto transactions.
The SimpleSwap mobile app is also unavailable in China, Japan and the USA for iOS users as well as Japan and the USA for Android users.
For a full list of restricted countries, click here.
Is Simpleswap legit?
Launched in 2018, SimpleSwap is a well-regarded self-custodial crypto swap platform known for its wide crypto selection. While feedback is mostly positive, be aware of reports concerning transaction delays or slight customer support hiccups. Always research the pros and cons of any exchange before trading.
Pros and Cons
Pros
- Easy and anonymous crypto swaps.
- No account needed for crypto-to-crypto exchanges.
- 24/7 customer support with fast responses.
- Competitive exchange rates by aggregating multiple exchanges.
Cons
- Some transactions may experience delays.
- No wire transfers or PayPal for fiat purchases.
- Mobile app unavailable in certain countries.
Customer Support & Reviews
SimpleSwap has a comprehensive FAQ section that answers any questions that you may have about the service and how to get started. This is all explained in an easy-to-understand format, which is perfect if you’re a crypto newbie.
If your question hasn’t been answered in the FAQ section, SimpleSwap also offers customer support via their 24/7 live chat where their customer support staff can help you. In my experience using the live chat, a customer support agent replied in less than a minute and quickly answered my question.
Alternatively, you can fill out a contact form explaining your question and the customer support team will reply to you via email.
As for reviews, SimpleSwap has an excellent rating of 4.7 out of 5 on Trustpilot, with almost 90% of people rating the service 5/5. The only negative comment a few users have made is that sometimes it can take a long time for SimpleSwap to send back your exchanged coins – but the SimpleSwap team have addressed this, saying that an occasional delay can be caused by their partner exchanges/liquidity providers.
Conclusion
SimpleSwap has a lot of attractive features, including easy crypto-to-crypto swaps and top-notch 24/7 customer service. The platform aggregates liquidity from a network of external providers to route each swap through the best available rate – rather than running its own order book
SimpleSwap prioritizes direct wallet-to-wallet swaps without requiring users to deposit funds to an exchange account, but completion time can vary depending on network conditions and asset availability.
Overall, SimpleSwap seems to be a very solid option if you’re looking to easily exchange between cryptos or crypto with fiat. It has a solid reputation and has received a lot of praise from customers.
FAQs
What is SimpleSwap?
SimpleSwap is a cryptocurrency exchange that allows users to swap over 500 cryptocurrencies without registration or KYC. It also supports fiat-to-crypto and crypto-to-fiat exchanges via Mercuryo.
Is SimpleSwap legit?
Yes, SimpleSwap is a legitimate exchange operating since 2018, partnering with major exchanges like Binance and Kraken. It has a strong reputation and positive user reviews.
Is SimpleSwap safe?
Yes, SimpleSwap is safe as it does not store user funds. However, users should ensure they use the official website and verify recipient addresses before transactions.
How to use SimpleSwap?
Select the cryptocurrency to exchange, enter the amount, choose the crypto to receive, provide your wallet address, and confirm the transaction. For fiat purchases, identity verification is required.
What are SimpleSwap fees?
SimpleSwap has no fixed fees. All costs, including network and partner exchange fees, are included in the exchange rate at the time of the transaction.
How long do trades take on SimpleSwap?
Trades typically complete within 5 to 30 minutes, depending on network congestion and blockchain confirmations.
Is SimpleSwap available in the USA?
Crypto-to-crypto swaps are available worldwide, including in the USA. However, the SimpleSwap mobile app is unavailable for iOS and Android users in the USA, and fiat services may have restrictions.
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