What Is SimpleSwap [The Ultimate Guide 2022]

SimpleSwap allows you to instantly trade, buy or sell cryptocurrency assets via multiple crypto exchanges. The exchange also provides more than 500 cryptocurrencies.

In 2018, SimpleSwap launched its crypto exchange. It aims to make it easy for you to buy or swap crypto immediately, using a credit card or debit card as well as Google Pay or Apply Pay. It does not have trade restrictions or sign up requirements and offers an intuitive interface for easy trading.

In this SimpleSwap review, we cover everything you need to know about SimpleSwap’s reliable service, SimpleSwap fees, features, and the SimpleSwap trading system to help you decide if it’s a suitable exchange for you.

So without further ado, let’s get started!

SimpleSwap: What is it?

SimpleSwap, a registered instant cryptocurrency platform in Marshall Islands is called. The platform was launched in April 2018, aiming to make the exchange process straightforward and without any complications or limitations, i.e., users aren’t required to register or sign up on the platform. The website and the app are easy to use by traders. They can enter transaction details and then process the transactions.

SimpleSwap allows users to buy and trade crypto assets through multiple cryptocurrency exchanges. It also provides more than 500 coins.

SimpleSwap’s trading platform is seamlessly integrated with the biggest crypto exchanges, allowing instant currency exchanges without deposit storage. SimpleSwap users don’t have to worry about choosing the most profitable exchange rate because the system works with 15+ trading platforms and exchange partners, including OKEx, Bittrex, and Binance, to find the best exchange rates for them.

In addition to the classic API with a floating rate, the platform also offers fixed-rate exchanges allowing traders to see the exact amount of crypto they’ll get after the swap before the exchange process. The API can integrate easily into various wallets and services, including the API with fixed rates and the API with floating rates.

SimpleSwap’s own crypto wallet, SimpleHold can also be downloaded as a plugin for your browser. This is AES-based and is available through SimpleSwap.

A company offering an affiliate program sends out a unique affiliate link for new users who sign up on the platform. This link is used by users to receive up 90% of the profit from the exchange platform.

Users can also get BTC cashback through the SimpleSwap Loyalty Program for any exchanges made via SimpleSwap.

SimpleSwap coin (SWAP).

SimpleSwap coins (SWAP) are the internal currency for the platform’s loyalty program and hold a utility value where users can get BTC cashback, promos, unique branded goods for crypto enthusiasts, and other advantages. SimpleSwap Coins are also available as rewards for social media contests and bounty campaigns.

What does SimpleSwap do?

SimpleSwap offers an easy-to-use interface with fast transactions. This platform is popular because it offers over 500 assets as well as many trading pairs.

SimpleSwap works on mobile and web browsers. Both web browsers and mobile applications support the mobile application. iOSAnd AndroidYou can download it from the AppStore or Google Play. Registering an account for making exchanges and quick transactions isn’t required on the platform. You will however enjoy certain benefits by being registered as a customer on this instant cryptocurrency exchange, such as participation in the Loyalty Program.

You can trade with SimpleSwap by following the steps below

• Check out the SimpleSwap Homepage
• Select a fixed or floating price
• Choose the crypto that you would like to trade from the first dropdown.
• Select the crypto asset you’d like to receive on the second drop-down list
• Enter the amount of crypto to be swapped and the recipient’s address
• To complete your transaction, click on Exchange

The platform doesn’t charge withdrawal fees but charges a total of 4.95% for deposits in fiat currencies. There are also commissions for Mastercard or Visa deposit. SimpleSwap fees are based on which crypto you purchase and will be included in exchange prices.  

SimpleSwap Features

While SimpleSwap doesn’t offer advanced trading features, here is the list of features that help the platform provide a great user experience:

• You can make instant transactions on cryptocurrency exchanges. Funds will be transferred in just a few seconds.
• There are many supported cryptocurrency options.
• The platform’s own SimpleHold free crypto wallet that supports a wide range of crypto assets and employs AES to safeguard SimpleSwap users’ private keys.
• 24/7 customer support with a live chat feature, through which users’ issues can be quickly resolved. You can also reach the support team via Twitter, Telegram or email.
• You can receive price alerts via the app for your mobile device.
• You can trade as many crypto coins as you like, without any restrictions, KYC or sign-up.
• SimpleSwap integrates with the biggest cryptocurrency exchanges in order to rapidly find the highest profit rates.
• Fixed rate exchanges allow traders to obtain the exact amount of crypto.
• Loyalty and Affiliate Programs at an attractive price
• The platform’s own SimpleSwap Coin.
• SimpleSwap is a mobile application that allows users to trade assets anywhere they are.
• Interface that’s intuitive and efficient
• Supports multiple deposit methods.
• Individualized solutions to help you connect your business to the Crypto World.

Sign up with SimpleSwap

SimpleSwaps allows you to trade instantly with a registered cryptocurrency exchange.
Visit the site and enter your data to execute the trade or swap. The platform does require KYC verification to deal with problems and incorrect transactions.

Enter your credentials, and then follow the prompts to create SimpleSwap. Logging in via Facebook and Google is also possible. SimpleSwap gives 1,000 SWAP tokens to customers who make swaps on the platform.

You can buy and sell crypto

SimpleSwap lets you not only trade cryptocurrency, but also allow you to buy and sell fiat currency. Mercuryo has been partnered by the platform to allow you to exchange 14 fiat currencies including USD, EUR and GBP as well as UAH, UAH and TL to crypto.

To purchase cryptocurrency using fiat money, follow the below steps:

• Click on the SimpleSwap homepage to choose the Buy/Sell Crypto tab
• From the drop-down list of the “You send” section, choose the currency you’d like to pay, like the USD, and enter the amount you want to spend.
• From the drop-down list of the “You get” section, select the cryptocurrencyyou’d like to buy, like BTC. You’ll see the estimated amount you get, and if everything is correct, select “Exchange.”
• Enter the address at which you want your crypto to be delivered.
• You agree to the SimpleSwap Terms of Service, Privacy Policy and Mercuryo Terms of Service.
• Click “Go to the exchange page.” You’ll be redirected to Mercuryo’s page to make the payment. Mercuryo requires you to enter data to verify your identity if it’s your first time buying crypto with fiat. This applies to purchases over €900 only; however, in some regions, you may be asked to pass verification. Once the necessary information’s provided and confirmed, you can easily buy crypto with credit and debit cards without going through this process again.
• You will see your exchange on the screen.

SimpleSwap charges

SimpleSwap charges fees for each transaction and Swap. This price can be classified as either a network or trading fee. While the fees structure was not clearly explained by the company at the time, it is assumed that exchange prices include this cost. Customers who wish to trade large quantities of cryptocurrency assets, such as Bitcoin and Ethereum on the website will be alarmed by this.

The user can pick between fixed or floating exchange rates.

On Visa and Mastercard deposits, there are commissions and on fiat currency deposits, there is a total charge of 4.95%. SimpleSwap provides customers with a fixed rate, based upon market rates to swap crypto to crypto.

You don’t have to pay any fees to open an account, or for inactivity.

SimpleSwap doesn’t charge a withdrawal fee since it never keeps any assets in the first place.

Integration with exchanges

The SimpleSwap trading system is integrated with the world’s leading cryptocurrency exchanges such as Binance, Kraken, Swapzone, OKX (formerly OKEx), KuCoin, Poloniex, Bitfinex, Bittrex, HitBTC, Huobi Global, etc., to identify the most profitable exchange rates for its customers quickly.

Payment Methods

SimpleSwap supports multiple payment methods. SimpleSwap customers can purchase crypto in cryptocurrencies or fiat currencies. This platform is compatible with Visa and Mastercards, bank accounts as well as Google Pay and Apple Pay.

On the following page, you can find the full list of fiat currencies as well as cryptocurrencies and trading pairs available through SimpleSwap Company website.

Visa and Mastercard will only allow you to deposit fiat onto the exchange. 4.95% of total deposit amount is required to pay a commission.

Mercuryo is a partner in the fiat deposit. Users must complete KYC verification prior to depositing any money.

The network fee for depositing and swapping crypto depends on the trading pair involved and is affected by the coin’s blockchain.

Supported Countries

SimpleSwap is accessible on multiple continents; however, it’s not available in the United States. The service can be used to exchange fiat currency for crypto, but it is not available in the United States.

SimpleSwap Loyalty Programme

SimpleSwap’s Loyalty Program rewards users with a 0.5% cashback in SWAP for each completed transaction. It also allows users to purchase a BTC cashback subscription by creating a customer account and enabling the Loyalty Program on the “Subscription” page. Customers who’ve accumulated a sufficient number of SWAP tokens can purchase a Bitcoin cashback subscription.

SimpleHold Wallet

SimpleHold is SimpleSwap’s non-custodial (light) wallet. This wallet was created by SimpleSwap and allows you to receive and transfer major cryptos and other non-fungible tokens. SimpleHold comes as an app for iOS and Android, and as a browser plugin for Chrome, Firefox and Brave.).

SimpleSwap Unique Features

SimpleSwap is unique in that it offers many features not found on other cryptocurrency exchanges. The platform’s trading system is linked to some of the world’s most significant crypto exchanges allowing users to exchange more than 500 crypto assets at the best rate. SimpleSwap users don’t need to store their funds on SimpleSwap because the platform processes all exchanges instantly. No sign up is necessary, there are no trading limits and KYC verification is not required to place buy or sell orders of up to 900USD and its equivalents.

SimpleSwap provides fiat to crypto and crypto-to fiat services. This allows customers to purchase crypto with fiat using Mastercard, Visa credit or debit cards.

It is easy to use and intuitively accessible via the mobile app or website, so users can immediately start trading digital assets.

SimpleSwap API

SimpleSwap offers an API (application programming interface), which is transparent and simple to use. It allows integration of fixed and floating rate exchanges. Developers and investors can use the API to analyze market trends and other data to help them make better investments.

SimpleSwap security

SimpleSwap has a security level comparable to some of the most prominent exchanges and platforms within the decentralized financial industry. The company’s wallet also has a good security rating because of its AES encryption technology. SimpleSwap doesn’t keep any assets, so the platform isn’t a common target for cyber assaults. Users are advised to evaluate safety and security of the exchange and protocols as well as their wallet.

Support for SimpleSwap customers

SimpleSwap provides 24/7 English customer service. SimpleSwap users have the option to use live chat support in order to resolve their questions quickly, send emails, or raise tickets. Users can also access the website. Section FAQFind answers to your most common problems. The SimpleSwap Support team has been very effective and quick in responding to users’ problems.

SimpleSwap Regulations

SimpleSwap operates in several countries but isn’t regulated. The platforms operates in accordance with local laws, regulations and partners in different jurisdictions.

FAQs

Is SimpleSwap secure?

SimpleSwap looks to be a trustworthy and safe platform. No evidence has been found of any hacking or loss of money.

Is SimpleSwap able to support THETA?

Yes, SimpleSwap supports THETA.

What is SimpleSwap available in the United States?

SimpleSwap has not been made available to Americans yet. United States residents will have to look for an alternative instant trading platform that doesn’t require verification.

Last Thoughts

SimpleSwap allows users to trade immediately, without the need for extensive verification. It’s a top recommendation for users wishing to trade a wide selection of cryptocurrencies without bothering about liquidity pools. The platform’s unique features and reliable service make it efficient, convenient, and transparent.

You’re also welcome to visit our CoinStats blogDiscover a wider view of decentralized finance, and the ways it seeks empower citizens.

Also, you can read some of our articles like What exactly is DeFi?Check out our comprehensive guides covering a variety of topics such as What’s PanCakeSwap?, What exactly is SushiSwap, Top 10 Meta NFT Projects, Top NFT Games, How to Purchase CryptocurrencyLearn more at Exchanges and wallets, portfolio trackers, etc.

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The market for cryptocurrency can be volatile and subject to secondary activity. Do your research thoroughly, get your own advice and invest only what you are able to afford to lose. Trading stocks and CFDs can be risky. CFDs can result in losses between 74-89% for retail investors accounts. It is important to consider all aspects of your financial situation before you make any investments. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant regulators’ websites before making any decision.