What is SimpleSwap?

SimpleSwap is a user-friendly and easy-to-use platform for cryptocurrency exchanges. It works without registration and limits.

Why should I trust SimpleSwap?

SimpleSwap is a project created for the convenience of customers. Our users don’t need to create accounts or store deposits in our service. Thanks to this, the users are protected from any kind of financial theft. We provide the best rates possible by comparing a wide range of reliable trading platforms.

How long does it take to exchange coins?

The coin exchange time usually varies from 5 to 60 minutes. There are rare occasions when more time is needed. The processing speed depends on how long it takes for a block to happen in the network. Most operations take place in just a few minutes.

Why is the final amount of coins different from the original one?

Our service chooses the best available exchange rate. The exchange rate during the transaction may slightly differ from the estimated rate due to the high volatility of the currency. So the coin rate at the time of the transaction can both grow or fall.

What is the minimum amount of exchange?

The SimpleSwap doesn't have limits for cryptocurrency exchanges. However the network fee is charged by the blockchain for every transaction to be performed. So the amount sent must be sufficient to cover all the network fees.

What is the maximum amount of coins to exchange?

SimpleSwap does not have any limits for cryptocurrency exchange. It means that you can exchange as many coins as you want.

Are transactions anonymous on your service?

Yes, our service is anonymous. Our customers don’t need to create accounts or store deposits at SimpleSwap. However, there are exceptions. SimpleSwap collaborates with a number of partners who, according to their risk assessment and European AML (anti-money laundering) directives, can request a photo of a valid ID and information about the origin of your coins. This is only necessary in order to make sure that your coins are not subject to illegal activities, such as theft, money laundering, and any other criminal operations. When we receive the necessary materials, we complete the exchange, and the funds are then sent to the specified recipient wallet address. If the customer does not want to go through the KYC procedure, the funds will be immediately returned to the customer at the original address. We have ensured that the retention of the customer's coins is unacceptable. Any exchange will either be completed or the coins will be returned back to the customer immediately. Find out detailed information about the KYC procedure rules on SimpleSwap in the article https://link.medium.com/QOu0pCYgfV.

What are the commissions?

For help in quickly finding the most favorable exchange rate for you the SimpleSwap doesn’t take the commissions.

What is the recipient address?

Let's assume you have Bitcoin and you want to buy Ether. The recipient’s address is the wallet address to which Ether will be sent after the exchange. Each coin has its own wallet. When you enter the recipient’s address make sure you use the correct coin address.

What is a hash transaction?

Each new transaction committed by the users in the blockchain has its own unique ID number (or a hash transaction) that is assigned to the operation and will be stored in all the subsequent new blocks. Using this ID you can view the details of previous transfers in the network and to authenticate transactions. The hash transaction is usually displayed as “tx ID” in your wallet.

What if I need to cancel my transaction?

When a transaction is included in the blockchain, it becomes irreversible. Unfortunately, no one can cancel the transaction. So you have to be extremely careful and re-check all the entered information before confirming the exchange.

What is the wallet address?

A crypto wallet is an alternative to a physical wallet, which exists only in a digital form. Such wallet is responsible not only for the safety of your coins; it also includes private and public keys that are necessary for conducting the transactions. Each wallet is built for a specific cryptocurrency and contains information about the availability of user's coins. A private key is a kind of password that looks like an alphanumeric string. Without it you can’t transfer funds to another user's account. A public key is a wallet address. It looks like an alphanumeric string too. Don’t show or send your private key to anyone, no one should ask you to do this!

How do I get a wallet address?

To get your own cryptocurrency address we recommend visiting the official site of the coin you are interested in. Normally every coin has an official wallet or a recommend list of wallets. Be careful when choosing a wallet and try not to use an unverified service in order to avoid losing your coins.

What are network fees?

The network fee is a commission that a blockchain takes from the amount of coins sent in each currency.

Why does my transaction take so long?

The coin exchange time varies from about 5 – 60 minutes. However sometimes a transaction takes more time, this could be due to a variety of factors: - Overload of the blockchain - Technical malfunction of the resource where your coins are located and the the resource where you transfer them. - Periodical coin updates

What is Exchange ID?

Exchange ID is a unique number of your exchange that contains alphanumeric characters. Exchange ID allows you to keep all the information about the swap and follow the stages of exchange. If you need to contact our support team about your exchange, it is advisable to provide the Exchange ID to speed up the process of finding your exchange in our database.

Where to get Exchange ID?

After you press the “Exchange” button during the exchange creation, you are provided with an Exchange ID in the browser address bar. For example, https://simpleswap.org/exchange?id=rm3UipCYpn. The Exchange ID is rm3UipCYpn. You need to save this link to be able to return to your exchange.

What is a fixed rate exchange?

A fixed rate exchange is an exchange that allows you to receive exactly the estimated amount. The fixed rate exchange is independent of the market volatility. This means that changes in the coins rates do not affect the fixed rate exchange. When you create the fixed rate exchange you have 20 minutes to send us a deposit. The time limit is due to the fact that the coins rates can change at any time, so we are exposed to huge risks. However, we can guarantee the invariance of the amount you receive within 20 minutes from the exchange start.

Why should I choose a fixed rate exchange?

If you do not want to take risks and worry about the quick change of the cryptocurrency rate, then fixed rate exchanges will suit you. This way you can protect yourself from any fluctuations in the received amount. In addition, we have achieved great success in the speed of fixed rate exchanges. It usually takes a little time from the receipt of the deposit to sending the coins to the customer. It is very valuable that fixed rate exchanges are performed faster.

What are the differences between a limitless exchange and a fixed rate exchange?

During a limitless exchange there is a possibility that the cryptocurrency rate may change for the worse or for the better. Thus, the amount you receive may also change - you can get either more or less coins than expected at the beginning of the exchange. During a fixed rate exchange nothing can affect the amount you receive which was shown to you initially. These exchanges are protected from rate fluctuations and any market changes. There are no restrictions for limitless exchanges. However, setting upper limits is a necessary measure for fixed rate exchanges since we take all the risks of cryptocurrency volatility and this risk grows with the amount of coins.

Is a network fee of crypto included in the final amount at a fixed rate exchange?

The SimpleSwap system cannot know in advance which network fee will be taken from a specific transaction by coin’s blockchain. Therefore, it is impossible to display the amount you receive with the inclusion of the network fee. However, the coin’s network fee is usually so small that they almost do not differ from the amount that was shown initially. Thus we allow ourselves to say that you get exactly the amount that was displayed at the beginning of the exchange process.