SimpleSwap is an instant cryptocurrency exchange established in 2018 that enables crypto traders to swap coins or swap crypto in an easy way. SimpleSwap supports over 300+ cryptocurrencies and free from sign-up.
- Operating Since 2018
- Cryptocurrencies Supported 300+
- Fees Free
- Deposit Methods Debit/credit card, Apple Pay, Google Pay, Bank accounts
- Fiat Currencies USD, GBP, EURO & More
- Verification Methods KYC but not required
- Margin Trading No
- Futures Trading Yes
- About SimpleSwap
- Platform Supported Cryptocurrencies
- SimpleSwap Loyalty and Affiliate Program
- Fees and Limits
- Is SimpleSwap Safe?
- SimpleSwap Customer Support
- Frequently Asked Questions
- SimpleSwap Exchange Review for Australia
- SimpleSwap Exchange Review for Canada
- SimpleSwap Exchange Review for United Kingdom (UK)
- SimpleSwap Review Conclusion
With the demand for cryptocurrencies growing exponentially, more and more crypto companies are starting to innovate blockchains and embrace digital financing. However, with so many crypto exchange platforms available, it is becoming more challenging to navigate the world of cryptocurrencies.
In this SimpleSwap review, you will learn about why SimpleSwap is one of the most innovative and intuitive exchange platforms out there. Not only does the platform provide multiple unique trading features, but it also allows users to trade crypto through more than one registered exchange.
SimpleSwap simplifies the exchange process by eliminating trading limitations and sign-ups. This SimpleSwap review will cover everything you need to know about the platform, from token offerings to security features.
To start out the SimpleSwap review, let’s start with the basics.
SimpleSwap is a digital crypto exchange platform registered in Majuro, Marshall Islands. The coin exchange allows users to trade or buy assets through multiple crypto exchanges. Since it does not require you to register, you can easily process a transaction by simply opening the mobile app or visiting their website, making instant crypto trades possible.
When it comes to trading crypto assets, the platform offers both fixed rates and floating rates. In addition, it provides more than 300 coins.
One of the most essential things to remember about SimpleSwap is that it is not an actual crypto exchange. Rather, it gives you access to multiple exchanges through a single platform.
Users love using SimpleSwap because the platform is both intuitive and simplistic. Trading crypto assets on SimpleSwap is as easy as one, two, three:
- Choose the asset you want to trade.
- Select the asset you want to receive.
- Enter the values and wallet address.
After that, you can complete your transaction and see the coins reflected on your balance sheet in five minutes to an hour.
SimpleSwap works by designing a platform that addresses three common crypto exchange problems: a lack of transparency, simplicity, and privacy. The major incident that comes to mind when considering these issues is the Mt. Gox scandal.
In 2014, Mt. Gox was the top instant cryptocurrency exchange platform. However, it burned a mark on its reputation by losing around 740,000 BTC to unknown hackers. To put this into perspective, the amount would equal several million dollars today.
That day, the crypto disappeared without a trace, encouraging various crypto platforms to improve their security measures.
Unfortunately, hacking is still a problem today. Hackers stole over $2 billion in digital assets in 2020. To boost security, SimpleSwap acts as a non-custodial platform to avoid storing or even touching their customers’ funds.
Being a non-custodial exchange essentially makes the platform significantly less attractive to hackers. Not only does this boost customer security, but it reduces downtime all the way to less than 1%.
Platform Supported Cryptocurrencies
Another significant problem plaguing the crypto world is the lack of representation for new cryptocurrencies. Before a major platform adds a coin, it makes an assessment based on specific digital coin framework requirements.
Generally, this includes checking the coin’s KYC and AML compliance. It also includes evaluating the security risk mitigation, liquidity, and demand.
Most new coins fail to produce the desired liquidity demanded by investors. In addition, most crypto exchange platforms are embracing higher listing fees, targeting both investors and coin developers. Essentially, platforms don’t want to waste their time with digital coins that lack demand or interest.
SimpleSwap acquires its liquidity from various platform partnerships, making instant trades possible. In addition, the platform supports well over 300 fiat currencies, cryptocurrencies, and trending altcoins including Tezos (XTZ), TRON (TRX), USD, Dash (DASH), Dogecoin (DOGE), Cardano (ADA), Tether (USDT), Stellar (XLM), Ripple (XRP), EOS (EOS), ZCash (ZEC), Monero (XMR), Litecoin (LTC), Binance Coin (BNB), Ethereum (ETH), Theta Network (Theta), Bitcoin (BTC), etc.
The vast selection of supported cryptocurrencies makes it a worthy competitor for other coin exchanges like Binance, Changelly, and Coinbase.
SimpleSwap Loyalty and Affiliate Program
One of the more notable SimpleSwap platform features is its affiliate and loyalty program. These new features are open to both network partners and SimpleSwap users.
The affiliate program works by giving new customers and partners a unique referral widget or link. Affiliates can then use this link to send to friends and family or use on their own content. When someone swaps coins on the SimpleSwap trading platform using the shared link, the affiliate earns up to 90% of the Bitcoin revenue share.
The SimpleSwap loyalty program operates similarly to other loyalty programs. Based on your membership status, you can earn cash back rewards with every exchange you make on the platform: the more SWAP tokens you purchase, the higher your status.
For example, users who acquire over 1,000 SWAP tokens achieve IRON membership status, making them eligible for a cashback reward of 0.25%.
If you acquire over 3,000 SWAP tokens, you can become a SILVER member, giving you a 0.5% cashback reward.
GOLD members are those who obtain 5,000 or more SWAP tokens. A GOLD membership gets you a 0.75% reward.
Finally, the highest SimpleSwap membership status is PLATINUM. PLATINUM members are those who acquire over 10,000 tokens and can reap a 1% discount on their purchases.
When making an exchange on SimpleSwap, you will need to provide your ERC-20 crypto wallet address to redeem your cashback reward. Generally, you will receive the cashback in your wallet weekly.
Fees and Limits
Next up on the SimpleSwap review is one of the more common crypto platform concerns: fees.
SimpleSwap does not have any exchange rate limits or fees. You can trade as frequently as you please without worrying about low or upper limits on how many cryptocurrencies you can deposit or withdraw.
The only SimpleSwap platform fee to be aware of is the network fee. Blockchain network fees apply for each transaction; however, they do not have fixed rates due to constant market fluctuations. Although you can’t determine an exact amount ahead of time, you can rest easy knowing that it will be relatively low.
Is SimpleSwap Safe?
One of the advantages of the SimpleSwap platform is that there is no required account registration. Since SimpleSwap is a non-custodial platform, it doesn’t store your personal information or cryptos. As a result, you don’t have to worry about creating an account or providing sensitive information.
Centralized exchanges, on the other hand, are often a preferred target for malicious third parties or hackers by housing customer information and funding.
Another way that SimpleSwap maximizes security is by ensuring that all their network partners are compliant with Anti Money-Laundering (AML) regulations. As a result, network partners can request to audit SimpleSwap users with KYC testing should they suspect questionable activity. Users who undergo KYC testing must prove their identity by providing government-issued identification.
The goal of KYC tests is to confirm the identities of platform users and prevent fraudulent or malicious activities. As a SimpleSwap user, you have the right to reject a KYC test. However, doing so will cancel the order and issue a refund.
SimpleSwap Customer Support
New and seasoned crypto traders are looking for exchange platforms that offer both security and support. SimpleSwap knows that a lack of customer support can lead to a platform’s downfall. That’s why they prioritize customer service and satisfaction.
SimpleSwap solves the customer support problem by establishing a 24-hour window for all platform quarries. Their customer service agents are available for you 24/7 to answer your questions and address any concerns you may have. Users can reach the SimpleSwap customer support team quickly by reaching out on one of their social media profiles or sending an email to email@example.com.
For even faster answers to your questions, you can check out their impressive FAQ page, where they address the most common user concerns.
SimpleSwap has a wide array of benefits for new and experienced crypto investors:
- Offers over 300 coins through some of the most popular crypto exchanges worldwide
- Loyalty and affiliate programs that can help users boost profit and enjoy significant benefits
- An easy-to-use and user-friendly interface that traders of different experience levels can use
- Reputable and reliable customer support team
- Instant exchange types or swap of assets
- Excellent Trustpilot ratings
Although SimpleSwap has its fair share of advantages, no review is complete without acknowledging the few cons:
- KYC testing may be mandatory for transactional disputes
- It doesn’t have more advanced trading tools like copy trading or automated bots
Frequently Asked Questions
Is There a SimpleSwap Mobile App?
Yes! You can find SimpleSwap in the app store for both iOS and Android mobile devices.
The SimpleSwap mobile app operates similarly to the original platform layout. Simply download the app to your device and use the search bar to find the desired cryptocurrencies. You can track your history, run affiliates, use discounts, execute swaps, and contact the customer support team all through the SimpleSwap mobile app.
How Can I Get Started on SimpleSwap?
Since SimpleSwap doesn’t require account registration, you can skip that step. To get started on SimpleSwap, visit SimpleSwap.io. Then, select your desired asset and provide an address for your third-party digital wallet. Finally, all you have to do is wait for your order to show up on the balance sheet.
The greatest amount of time that a user will have to wait for the order processing is an hour. However, you can generally expect to see your digital assets in less than ten minutes.
What Is the SWAP Token and How Does It Work?
The SWAP token is the platform’s native token that you can acquire from the SimpleSwap loyalty program. SWAP tokens are utility tokens that can offer you cash back, priority customer service, and voting rights. In addition, you can use SWAP tokens as valid ForkDelta currency.
You will need to provide a valid ERC-20 wallet address to receive SWAP tokens. This is because you will receive your cashback rewards through your ERC-20 wallet weekly.
Does SimpleSwap Have an API?
Yes. SimpleSwap provides an application programming interface or API with market intel that can be leveraged by both investors or developers for the purpose of researching the market and earn more.
What Payment Methods Does Simple Swap Support?
SimpleSwap supports different types of payment methods. You can purchase crypto assets using your debit card or credit card. Aside from that, SimpleSwap supports Apple Pay, Google Pay, or Bank Accounts. In SimpleSwap, you can easily make your transactions and they will surely get processed very quickly.
SimpleSwap Exchange Review for Australia
Are you one of those Australian crypto beginners looking for an excellent crypto-currency exchange with great user interface and trading services and products in the crypto market? If yes, then SimpleSwap is for you!
SimpleSwap is one of the easiest cryptocurrency exchange providers out there. The company’s main objective is to make the crypto buy and sell process as simple, safe, and comfortable as possible. You don’t need to signup at all. Just go to SimpleSwap’s website and input your details and complete the transaction you want.
The crypto exchange also allows both fiat-to-crypto and crypto-to-crypto transactions. The company doesn’t have any deposit storage as it only offers quick coin exchanges. On SimpleSwap, you’ll find two exchange types namely: fixed and floating rates. And of course, you can pick whichever you want.
The coin exchange also offers its users a broad selection of cryptocurrencies of up to 300+ crypto assets. SimpleSwap also has its own dedicated crypto wallet called SimpleHold, which is also quite easy to use.
Overall, SimpleSwap is a very versatile coin exchange that is also incredible simple to use. SimpleSwap provides a medium for crypto individuals to start trading immediately without going through any verification processes. If you’re one of those people who want to trade a broad range of cryptocurrencies without worrying about liquidity pools, then SimpleSwap is one solid choice to consider. The list of features and exchange services makes SimpleSwap a platform with transparency and convenience.
Now if you don’t like to use SimpleSwap for some reason, don’t worry. Here’s a complete list of the best cryptocurrency exchange to trade Bitcoin in Australia.
SimpleSwap Exchange Review for Canada
Do you want to sell crypto, sell Bitcoins on a platform with the best rates possible? If yes, then the SimpleSwap coin exchange is perfect for you! It supports a wide range of cryptocurrencies from the popular ones to stablecoins.
SimpleSwap is one of the easiest crypto exchange platform in the crypto space. The exchange’s main goal is to make the buying and selling of crypto comfortable, safe, and simple. If you use SimpleSwap, you don’t have to register and undergo any strict and time-consuming KYC processes. Simply head to their website, put your details, and do the crypto transaction you want.
To sum it up, SimpleSwap is a very versatile crypto exchange platform that is also very simple to use. It serves as a medium for crypto enthusiasts out there to start trading right away. If you are one of those crypto individuals who want to buy, sell, and trade different types of cryptocurrencies and don’t want to worry about liquidity pools, then SimpleSwap is certainly for you.
On a side note, just in case you don’t feel like using SimpleSwap for now, worry not, we’ve written a comprehensive list of the best places to buy crypto in Canada. Check it out!
SimpleSwap Exchange Review for United Kingdom (UK)
Do you want to trade cryptocurrencies such as Bitcoin Cash but prefer a crypto exchange that supports GBP and Visa? If yes, we highly recommend you try SimpleSwap!
This crypto platform is one of the easiest cryptocurrency exchanges out there. SimpleSwap’s main objective is to make buying and selling of crypto assets safe, comfortable, and simple for both beginners and experienced traders alike. Using SimpleSwap doesn’t require any registration and KYC processes. You just need to go to their website, fill out some details, and do whatever crypto transaction you want.
All in all, SimpleSwap is a very versatile crypto exchange that is very simple to use at the same time. It serves as a platform for crypto individuals out there to start trading as easy as possible. So, if you want to buy, sell, and trade various kinds of crypto assets and don’t want to worry about liquidity pools, then you might want to try out SimpleSwap.
Now, just in case you don’t feel like using SimpleSwap for now, don’t worry, we’ve written an in-depth guide comparison of the best crypto trading platforms to buy Bitcoin in the UK. Make sure to check it out!
SimpleSwap Review Conclusion
Whether you have years of cryptocurrency trading under your belt or are just starting out, SimpleSwap proves to be a valuable platform. With over 300 supported coins and no deposit or withdrawal fees, you can easily boost profit and make the most of your crypto exchanges.
SimpleSwap eliminates the traditional risk of hackers by acting as a non-custodial platform. As a result, you don’t have to worry about providing any personal information, even if you want to utilize the loyalty program.
With unmatched customer support and an easy-to-use platform interface, SimpleSwap makes it easy for crypto traders to engage in swaps with an impressive uptime of 99%.
In conclusion, the SimpleSwap platform offers multiple impressive benefits that can help cryptocurrency investors make the most of their exchanges. Overall, this is a highly-beneficial platform that combines simplicity with innovation to create a remarkable crypto exchange service platform.