SimpleSwap Review 2021: Security, Fees & Special Features

The webs most detailed SimpleSwap Review: Learn more about this instant cryptocurrency exchange and what makes it stick out from the rest of the crowd. Is there more to the instant exchange mechanism or is this only a pure swap exchange for cryptocurrency investors? This is an expert take on why you would want to use this platform.

3.67/5
Trustworthy
Non-Regulated
United Kingdom flag
SimpleSwap
Founded April 2018
Owner Simple Swap Limited
Type Cryptocurrency Exchange
Fees 0%
account minimum 125$
Best for Investors

Why SimpleSwap

In this section of our SimpleSwap review we highlight 6 special features that deserves extra attention.

On this platform you can start trading without registering an account. Get access the markets instantly!
No Account Registration
On this platform you can start trading without registering an account. Get access the markets instantly!
Buy, sell, or trade other cryptocurrencies with a smaller market cap than Bitcoin. New coins are created frequently.
Altcoins
Buy, sell, or trade other cryptocurrencies with a smaller market cap than Bitcoin. New coins are created frequently.
Trade your strategies with zero trading fees. Minimize your day trading costs significantly and stay in the game.
$0 Trading Fee
Trade your strategies with zero trading fees. Minimize your day trading costs significantly and stay in the game.
Exchange cryptocurrencies instantly. The fastest way to swap between coins when opportunity arises.
Instant Coin Exchange
Exchange cryptocurrencies instantly. The fastest way to swap between coins when opportunity arises.
When trading with a casback system you earn real cash when your trades are executed in the market.
Cashback
When trading with a casback system you earn real cash when your trades are executed in the market.
This platform is great for large traders or investors with deep pockets. No more holding back on opportunities.
High Limits
This platform is great for large traders or investors with deep pockets. No more holding back on opportunities.

About SimpleSwap

This instant cryptocurrency exchange was founded recently, back in 2018, during one of the latest Bitcoin booms. It is based in the United Kingdom and serves most countries in the world with the exception of a few which are listed below. Simple Swap Limited is the owner and to be honest, there is not much info on the company online as of today.

This instant crypto exchange offers a very basic interface, and they promote instant exchanges or swaps between cryptocurrencies and of course altcoins. It’s a non-regulated exchange and it solely relies on blockchain transactions for swapping coins. Card payments have recently been introduced for those investors who want to buy their cryptocurrencies with fiat money.

Why use SimpleSwap

SimpleSwap is great for investors who want to change investments or spread out their portfolio from bitcoin to other altcoins. Just add your current addresses and make the exchange completely for free. It’s not more difficult than that. This is currently the only thing they offer on the exchange, a fast way of swapping between altcoins.

It’s not a very advanced exchange so it’s very suitable for beginners and people who have difficulties understanding complex trading platforms. So, if you are new to cryptocurrencies and exchanges, you will enjoy swapping and trading on SimpleSwap.

Trading on SimpleSwap

Right now there is no trading platform for active day traders. I don’t know if they ever plan on opening those doors but for now they only offer a very basic exchange and swapping tool. The option available is the exchange tool which is great for beginners that are starting out or traders in general who are looking for an efficient way to swap between altcoins.

Payment methods and limits

Except for the obvious crypto to crypto exchanges, SimpleSwap has introduced card payments as well which allows you to buy your coins directly on the exchange. This is a new feature and it seems to be working just fine. When it comes to the exchanging of cryptocurrencies, there are currently no limits written down anywhere on the exchange. This is a great thing for all the whales out there who wants to exchange large amounts of cryptocurrency.

Things we don’t like

Since SimpleSwap is not offering much more than a free exchange tool and it seems to be working well there are not many negative aspects of the exchange other than it is lacking many special features that I know traders in particular like. It’s not a place for advanced traders or investors, if you are looking for an advanced platform you are better off elsewhere.

Trading Fees

Products
Maker fee
Taker fee
Cryptocurrency
0 %
0 %

Products

Cryptocurrency
Cryptocurrency

Trading Platforms

Webtrader
Webtrader
Mobile App Android + Mac
Mobile App Android + Mac

Order Types

N/A

Devices

Desktop
Desktop
Smartphone
Smartphone
Web
Web
Tablet
Tablet

Special Features

Beginner Friendly
Quick Registration
Professional Support
Instant Deposits
New Trading Platform
Buy Cryptocurrency
Trading App

About the special features on SimpleSwap

What makes this platform special is the fact that you can sign up and exchange cryptocurrencies instantly, that’s pretty cool in my opinion. It’s a very very basic platform that all beginners will feel comfortable using and the quick registration process makes it easy to start. You do not need to send in KYC documents which make for a very easy on-ramp for all crypto investors. There are currently over 300 altcoins to choose from on SimpleSwap and the list keeps growing.

I think this is a great instant cryptocurrency exchange if you want a quick way to access a lot of different altcoins. The high limits also make it suitable for large traders who want to invest more money in cryptocurrencies and altcoins. The trading app is also a plus if you are the kind of investor that likes to buy cryptocurrencies and altcoins from your mobile phone.

Trade Cryptocurrencies For Free

Yes, that’s right, you can exchange and trade cryptocurrencies for free on SimpleSwap, with 0% fees. But how does this really work? It’s pretty “simple”. This is an instant cryptocurrency exchange and it’s connected to several other major major cryptocurrency exchanges to access their coins and liquidity.

Whenever you exchange or swap coins on SimpleSwap you are using the algorithm and you will get a price for each exchange. Sometimes the algorithm finds better prices than expected, and when this happens, SimpleSwap takes a small cut of the deal. That’s how they make money and it’s a win-win situation. So if you want to trade cryptocurrencies for free without any fees at all, I would recommend that you give it a try!

SWAP Loyalty Program

If you want to receive extra cryptos when trading you have a great opportunity to enter the loyalty program on SimpleSwap. When you choose to join you will get rewarded with the native SWAP coin with every exchange you make on the platform. You can later upgrade your loyalty program and get cash back rewards in bitcoin. It’s a great way to earn cryptocurrencies for free as the maximum cashback reward is at 0.4% of the total transaction. This cryptocurrency cashback program is also unlimited which means there is no holding back on your spending.

Very Fast Live Chat

A huge plus for SimpleSwap is the fast response time through live chat. I wrote “hello” and David answered me within 20 seconds. Thumbs up!

Funding

Mastercard
Mastercard
Visa
Visa

Accepted Currencies

USD ($)
EUR (€)
GBP (£)
TRY (₺)
RUB (₽)
UAH (₴)

Limits

Max Withdrawal Limits
$0 daily
Min Withdrawal Limits
$0
Min Deposit Limits
$125

Languages

United Kingdom
English
Spain
Spanish
Germany
German
France
French
Russian Federation
Russian
Portugal
Portuguese
Japan
Japanese
Vietnam
Vietnamese

Restricted Countries

United States
United States Minor Outlying Islands
Korea, Democratic People"s Republic of
Sudan
Cuba
Syrian Arab Republic
Japan

Security

Is SimpleSwap safe to use?

It has been on the market since 2018 but we don’t have any records of hacks or lost money from this exchange. Since you can access the swapping mechanism on SimpleSwap without actually signing up for an account you are basically only making blockchain transactions between your wallets. Blockchain technology is inherently safe and if you are familiar with how to send a blockchain transaction you do not have to worry about any thefts on SimpleSwap.

We will continue to follow SimpleSwap and take notice from more users to see how the exchange develops in the future. For now, we can only say that it seems safe to use when exchanging cryptocurrencies and I would recommend it since it has a lot of different altcoins to choose from.

Is SimpleSwap regulated?

No, SimpleSwap is not a regulated cryptocurrency exchange.

Support

Contact Form
Contact Form
Phone Number
Phone Number
+357 99980452
Live Chat
Live Chat

Frequently asked questions

Read the most frequently asked questions about SimpleSwap. Find answers without searching the web.

It is an instant cryptocurrency exchange where you can swap between altcoins for free. The exchange is connected to several major crypto exchanges through an algorithm that makes for free cryptocurrency trading.

Considering that you don't need to sign up for an account and only transact on the blockchain, the exchange mechanism is very safe.

This UK crypto exchange is located at Trust Company Complex, Ajeltake Road, Ajeltake Island Majuro, Marshall Islands MH 96960.

This depends on the coin you choose to exchange with. The standard waiting time is between 15-60 minutes. All that is required for the transaction to go through is a valid block to be mined on the blockchain and you have made an exchange.

Yes, it is a free trading tool and available for trading 24/7.

No, there is no trade fee on SimpleSwap.