Strong points
Have you ever heard of SimpleSwap?
It’s a trading platform that specializes in crypto “swaps.”
You can also buy or sell crypto easily, quickly, and most importantly, securely. We’ll delve into this comprehensive guide, but the platform does not require any registration to access and proceed. Want to learn more?
This is the complete exchange review of the SimpleSwap platform.
Founded in 2018, the SimpleSwap exchange is registered in the Marshall Islands.
However, it operates internationally and is accessible to millions of investors. It allows you to quickly exchange digital assets. Most crypto assets are supported, including Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) to name a few.
With SimpleSwap’s ecosystem, you won’t need to register or create an account to use it. It’s also very fast. Additionally, over 1,000 assets (cryptocurrencies AND FIAT) are supported!
Customer service is highly responsive, and the platform is non-custodial, meaning that what you buy is sent directly to you. SimpleSwap doesn’t store your assets, which exposes transactions to less risk! The site has plenty of resources to educate yourself with.
You’ll find such resources on its blog, its F.A.Q. section and its “Learn” portal.
The one downside of SimpleSwap are its fees.
The commission charged for exchanging fiat currencies and crypto is 4.95%. Additionally, you don’t get access to advanced trading products or services. If you want to engage with leveraged products, futures, or perpetuals, they’re not available.
SimpleSwap is for only a handful of nations.
Bangladesh, Bolivia, Burundi, Central African Republic, China, Colombia, Cuba, Democratic Republic of Congo, Ecuador, Iran, Iraq, Kyrgyzstan, Lebanon, Libya, Mali, Morocco, Nepal, Nicaragua, North Korea, Pakistan, Saudi Arabia, Somalia, Sudan and Darfur, South Sudan, Syria, Vietnam, Venezuela, Yemen, Zimbabwe cannot use the online tools available.
On SimpleSwap, over 1,000 crypto assets and fiat currencies are supported. You’ll find the most-known tokens on the market:
As for major currencies, expect the US Dollar, Euro, and Pound. You can also buy assets using the CAD (Canadian Dollar), INR (Indian Rupee), CZK (Czech Koruna) and many others.
Warning: The Tokize team takes this opportunity to remind you that investing in crypto can lead to partial or total loss of funds. Only invest what you can afford to lose.
Although less known than giants like Binance, Coinbase, or Kraken, SimpleSwap supports its clients by offering an array of products, services, and unique features.
Exchanging crypto is the main feature of SimpleSwap. Indeed, the platform was launched to enable crypto exchanges within seconds. The site is secure without requiring registration.
Simply enter the number of assets you’ll exchange; then, choose what you want to receive. By clicking on “Exchange,” you’ll receive the final amount on the transaction’s confirmation page.
You must first choose the FIAT you wish to use. Suppose you choose the Euro.
You’ll then need to fill in the amount you wish to spend, and choose the cryptocurrency you’ll receive—or vice versa if you want to sell cryptocurrency for a FIAT asset. Confirm the transaction, and you’re done. It’s as simple as that …
The fixed/floating rate feature is only available for a cryptocurrency exchange, which is a “swap.”
The fixed rate guarantees that you receive an expected amount while the floating rate adjusts based on market fluctuations. For purchases and sales of crypto to FIAT and vice versa, the floating rate is the only option you have available.
SimpleSwap encourages developers and websites to integrate via its API or widget. This promotes the tool to a broader audience in exchange for rewards or commissions. However, certain conditions must be met to collaborate with this brand.
The SimpleSwap platform offers those truly interested in cryptocurrencies a blog and a learning center.
With these, you’ll get educational resources on cryptocurrencies, blockchain, and platform usage. This allows you to learn at your own pace, discover its rapidly developing market and thus be more confident when making your first trades!
The “Learn” section dives into fundamental analysis and investment strategy to help you maximize on your trades. Whether it’s about trends in DeFi (decentralized finance), the general crypto market or portfolio allocation, you’ll discover a lot.
This can considerably help you limit the risks of loss, even though, they’re real and significant.
While SimpleSwap trading doesn’t require you to create an account, doing so gives you access to several benefits. For each transaction, you’ll receive up to 0.4% cashback in BTC.
Finally, if one of your friends uses your referral link, they get a $50 bonus, which you can then share. This referral link is only obtainable if you register.
Warning: The Tokize team takes this opportunity to remind you that investing in crypto can lead to partial or total loss of your funds. Only invest what you can afford to lose.
SimpleSwap collaborates with Mercuryo, being one of the most influential fintech companies in the web3.0 world. When buying or selling crypto, investors are charged a fee of 3.95%.
Additionally, a 1% commission is charged by SimpleSwap, bringing the total commission for this type of transaction to 4.95%! These are relatively high fees when compared to what’s offered by Binance, Coinbase, or Kraken, leading exchanges in the marketplace.
| Type of fee | Amount of fee |
| Cryptocurrency buying and selling | 3.95% charged by Mercuryo + 1% charged by SimpleSwap |
Yes, SimpleSwap has a mobile application for download in both Apple’s App Store and Android’s Google Play! The app is highly ergonomic with a 100% customizable interface.
You’ll find your entire transaction history and a support service at your disposal.
Additionally, there’s an “Alert” feature that notifies you of price increases or decreases for the cryptocurrencies you’ve selected to follow in real-time.
The SimpleSwap mobile app is particularly well-rated. The app rates 5 out of 5 stars on Google Play. It has 4 out of 5 stars within the Apple Store. It’s a particularly well-liked app, so don’t hesitate to download it to discover more.
Creating an account on the SimpleSwap trading platform isn’t mandatory. However, you can choose to do so. To do this, you only need an email address, a password and a “nickname.”
The creation process is simple, quick but gives you the same access you’d have without registration. However, registered accounts get cashback and can receive up to $50.
Know Your Customer (KYC) data is required in certain cases—especially if your transactions are suspicious. Generally, KYC has been designed and developed to limit risks in the criminal use of any asset. Thus, it works in your favor.
What about security? What measures are taken for individuals who use it and their data?
SimpleSwap implements several steps to ensure the full security of individuals, their data, and their funds. Firstly, the platform is protected against distributed denial-of-service (DDoS) attacks.
SimpleSwap also uses SSL technology to encrypt and protect users’ data.
Finally, as stated on the homepage, it is a non-custodial platform.
This means it doesn’t store the funds of the investors who use its services. Lastly, client data and transactions are verified with KYC regulations when necessary.
SimpleSwap has no compliance with any specific regulations or licenses.
However, the platform highlights its standing results, which are no cyberattacks at the time of writing this content, and hundreds of positive reviews by satisfied clients.
As regulations become stricter regarding cryptocurrencies, the platform may decide to pursue certain certifications to operate freely in certain countries. Such would be a significant security guarantee to showcase to customers.
Warning: The Tokize team takes this opportunity to remind you that investing in crypto can lead to partial or total loss of your funds. Only invest what you can afford to lose.
SimpleSwap customer service is, as we mentioned, quite responsive. You can reach them by email, via the support service on its mobile app and even on their Twitter and Facebook pages.
You can also use their online chat to get answers to the questions you’re asking.
SimpleSwap is an excellent cryptocurrency trading platform. You don’t even need to register. Just go to its website, choose the asset you want to buy, and confirm your transaction!
That said, you will pay high fees of 4.95% without access to advanced financial products.
However, if you’re looking to securely buy crypto assets, this platform can help!
It’s a reliable, secure, and intuitive exchange, making it accessible to the greatest number of people. The platform also has a very high-quality mobile application available for iOS and Android.
Don’t hesitate to download it!
Warning: The Tokize team takes this opportunity to remind you that investing in crypto can lead to partial or total loss of your funds. Only invest what you can afford to lose.
