SimpleSwap is an easy-to-use instant crypto swapping platform that makes it super easy for you to exchange or buy your favorite cryptocurrencies.
The main idea behind SimpleSwap exchange is to simplify the process of exchange as well as buying crypto and they have doing so seamlessly since their inception in 2018
You can use SimpleSwap exchange to buy and sell more than 700 cryptocurrencies. You can buy crypto using a credit or debit card, Google Pay, or Apply Pay instantly too.
So should you really use SimpleSwap Exchange? Let’s find out in this review:
Overview: What is SimpleSwap?
SimpleSwap is one of the easiest cryptocurrency exchanges out there. The main purpose of the platform is to make the crypto buying selling process simple safe, and comfortable.
There is no signup process required. Instead, all you have to do is head over to their website and enter your details and complete the transaction.
SimpleSwap also allows both cryptos to crypto exchange and fiat to crypto transactions. It doesn’t have any deposit storage, and it only offers quick coin exchanges.
On SimpleSwap, you will find two exchange types: floating and fixed rates. And you are allowed to choose your preferred option.
The exchange also offers you a wide selection of cryptocurrencies up to 700+ coins.
SimpleSwap’s Features & Benefits
- No Signup Required
Unlike other exchanges, SimpleSwap is a no KYC exchange to an extent. It doesn’t require you to create an account or complete the KYC process. So in case you want to keep your crypto purchases out of the records, then SimpleSwap can be an ideal solution. You can purchase cryptocurrencies worth €300 in total without providing any identity verification.
- Multiple Payment Methods
SimpleSwap supports multiple payment methods. You can buy cryptocurrencies using your credit or debit card. Also, it supports bank accounts, Google Pay, or Apple pay. So you can easily make your transactions, and they will get processed as fast as possible.
- Fixed & Floating Rates
The best part of SimpleSwap is that it supports both fixed and floating rates. Many crypto traders prefer fixed rates as it matches the amount displayed to you while you purchase crypto. As a result, there is zero risk of getting more or fewer funds after you complete the transactions.
On the other hand, if you choose floating rates, then you might get more and or less funds after completing the transaction. Since the crypto market is extremely volatile and the network fees fluctuate a lot.
So no matter what type of rates you prefer, SimpleSwap has both to offer.
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- Swap Crypto
You can also swap crypto on SimpleSwap exchange. It supports USDT swaps between OMNI, ERC-20, and TRC-20. Plus, you can easily exchange your Tether between Bitcoin, Ethereum, and TRON blockchains and use the token you like – ERC-20, TRC-20, or OMNI.
- Global Presence
SimpleSwap is globally available. It offers you a competitive price for buying crypto worldwide. It is available in countries like India, Canada, Germany, France, South Africa, Brazil, Netherlands, Australia, Nigeria, UK, Russia, Malaysia, Vietnam, and many others.
- Get Cashback
SimpleSwap offers you a loyalty program that helps you to get cashback for every exchange. The loyalty program is empowered by SimpleSwap’s utility token – SimpleSwap coin (SWAP).
To enjoy Bitcoin cashback, you will need to hold at least 2000 SWAP coins in your wallet, and you will get BTC cashback on every single transaction.
- Optimized User Interface
Getting started with SimpleSwap is extremely easy. It comes with an optimized user interface which makes it super easy for newbies to buy, sell or exchange their coins. You get to enjoy a super smooth exchange process on both web and mobile devices.
- 24/7 Customer Support
SimpleSwap also offers you customer support. You can always reach out to them at any point of the day. You can use their 24/7 live chat support to get your queries solved quickly. Plus, you can raise tickets or send emails.
How SimpleSwap Works?
Unlike other cryptocurrency exchanges, SimpleSwap is not a regular exchange. Instead, it is a platform that allows you to buy/sell cryptocurrencies via a number of cryptocurrency exchanges that they partner with.
The exchange connects you with a third-party crypto exchange, and your purchased funds get deposited in your account.
However, it definitely smoothens the whole process. As it offers 700+ assets and different trading pairs. So there is no need to sign up for multiple exchanges and go through their KYC process.
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Simply select both the cryptocurrencies that you wish to swap and enter the value and wallet address to complete the transaction.
Here is how swapping works on SimpleSwap for Bitcoin to Ethereum:
- At first, on SimpleSwap, enter the value of your assets and select BTC. In the next field, select ETH, and it will tell you the value you will be getting after the exchange.
- Next, you have to enter the recipient’s Ethereum address. You can get the address from your crypto wallet.
- Finally, on the exchange page, you will see a Bitcoin depositing address. Simply send your funds to the address, and after the process gets completed, you will get ETH in your crypto wallet.
SimpleSwaps’ Exchange Partners
By now, you know that SimpleSwap is not a typical cryptocurrency exchange, rather it partners up with other exchanges.
So should you really use it? Well, you definitely should.
SimpleSwap is partnered with the world’s top cryptocurrency exchanges like Binance, Bittrex, HitBTC, Huobi, Kraken, KuCoin, Bitfinex, OKEX, Poloniex, and STEX. All of these exchanges are extremely popular and known for their services and offerings.
So when you buy/sell crypto from SimpleSwap, you actually buy/sell crypto from the world’s top exchanges. As a result, you can be assured that your funds are in safe hands with the added security of the SimpleSwap platform itself.
How To Buy Cryptocurrency using SimpleSwap?
Buying or selling crypto on SimpleSwap is a pretty straightforward process. You can visit their website or download their mobile app available for Android and iOS devices.
Also, it supports a wide range of fiat currencies like USD, EUR, GBP, TL, UAH, BRL, KES, MXN, TZS, and more.
To buy crypto on SimpleSwap, you can follow the below steps:
- Go to SimpleSwap exchange.
- Switch to Buy/Sell Crypto tab.
- Next, enter the worth of amount you want to buy crypto for.
- Use the dropdown menu to select your preferred currency, USD.
- From the bottom dropdown menu, select the cryptocurrency you wish to purchase, and it will tell you how much you will be getting.
- Finally, click on the Exchange button.
- Next, enter your crypto wallet address and click on create an exchange button.
- Finally, complete the payment using a credit/debit card, Apple Pay or Google Pay.
No KYC Requirement On SimpleSwap
SimpleSwap doesn’t require you to go through a KYC process to buy/sell crypto. However, if the exchange detects any suspicious transaction, then KYC might be required.
The KYC process gets conducted based on international company policies and external requirements of government authorities and financial institutions.
If SimpleSwap asks you to go through the KYC process, you will be required to submit your full name, residential address, and phone number. Along with a copy of your legal government ID, a selfie of you holding the document. Also, you have to provide a utility bill or any official proof of address proof of funds.
Supported Cryptocurrencies
On SimpleSwap, you can buy or sell more than 700 cryptocurrencies.
It allows you to buy popular crypto-assets like Bitcoin (BTC), XRP (Ripple), Binance Coin (BNB), Solana (SOL), Polkadot (DOT), Uniswap (UNI), Terra (LUNA), Avalanche (AVAX), Chainlink (LINK), Litecoin (LTC), Shiba Inu (SHIB), Algorand (ALGO), Polygon (MATIC), Ethereum (ETH), Cosmos (ATOM) and many others.
SimpleSwap’s Mobile App Support
SimpleSwap also offers you mobile app support for both iOS devices and Android. The mobile app makes it a simpler process to exchange cryptocurrencies. Plus, you will be able to exchange, buy or sell cryptocurrencies anywhere at any time.
The mobile app comes with an optimized user interface, and you get all the options at the bottom menu. Plus, there is no need to create an account.
Simply download the app, and you are ready to exchange crypto to crypto or crypto to fiat.
SimpleSwap’s Loyalty Program
SimpleSwap’s loyalty program is a great way to get extra crypto on every transaction you make on the exchange.
The program was recently launched, and with this, you will get cashback in SWAP for every operation made on SimpleSwap.
SimpleSwap’s loyalty program has three subscription models, and it requires you to hold a certain amount of SingleSwap’s native currency SWAP.
For instance, if you hold 0 amount of SWAP tokens in your wallet, you will get 0.5% SWAP as your cashback rate.
However, if you hold 2,000 SWAP tokens, the cashback rate would be 0.15 BTC, and if you hold 15,000 SWAP tokens, you will get 0.4% BTC cashback.
Also, you will need to create an account on SingleSwap to get the cashback. If you are buying or exchanging crypto without signing up SimpleSwap, the cashback will not get credited. Fortunately, there is no KYC process you have to go through to create an account.
Conclusion
SimpleSwap makes buying and selling crypto easy. However, compared to the regular exchanges, it offers you a higher transaction fee.
But if you want to buy crypto or instantly swap your assets without needing to complete KYC, you should definitely give the exchange a try.
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