SimpleSwap Review
Get to know about SimpleSwap ranging from what and how best to use it.
Introduction
SimpleSwap is a cryptocurrency trading platform that allows users to swap crypto assets through several registered cryptocurrency exchanges. SimpleSwap has considerably simplified the cryptocurrency exchange process by removing the need for sign-ups and trading restrictions. However, just like the MyConstant review, you can check the SimpleSwap review for more details on the cryptocurrency exchange site.
Not many cryptocurrency platforms have emerged in the crypto world that can meet the majority of criteria without compromising the user experience.
What is SimpleSwap?
More than 600 different cryptocurrencies can be traded on SimpleSwap, an online platform that facilitates the trading of crypto assets.
Unlike other crypto websites, it does not need users to register or sign up. Traders only have to log on to the website or app, enter their data, and complete the transaction.
SimpleSwap now offers real-time trading on all of the exchanges that it currently supports through a single interface. SimpleSwap provides both floating and fixed exchange rates for digital trading assets.
To encourage users to contribute to the platform’s growth, the company offers an affiliate and loyalty program.
How does it work?
SimpleSwap is not a cryptocurrency exchange in and of itself but rather a platform that allows users to trade across many exchanges. There are approximately 300 assets available for investors and traders, resulting in a wide range of trading pairings. The platform is highly user-friendly and straightforward. Select the crypto asset you want to trade, the asset you wish to receive, and then input the values and wallet address to complete the transaction.
Transaction fees are expected to be included in the exchange rate, which has previously fluctuated. The website makes no other mention of levies or trading fees, which is something to bear in mind.
SimpleSwap services
- Crypto Trading
The trading platform has been implemented into several of the top bitcoin exchanges. However, there is no deposit storage; only quick coin exchanges are available.
- Crypto Swapping
In cryptocurrency, swapping refers to exchanging one coin or token for another. With SimpleSwap, this process is straightforward as all you have to do is choose the coin you want to swap with.
SimpleSwap offers its users crypto-backed loans, and it’s regarded as one of the first bitcoin-backed loans where users can get instant bitcoin loan against their cryptocurrency.
Сrypto exchange
Exchanging Bitcoins is an easy and intuitive process. Individuals can use the website or mobile app to select a trading pair and then trade or sell a crypto asset for another, such as the Nexo crypto. The term “trading pair” refers to the price at which one currency can be sold and another purchased. Below is a detailed approach to how to perform a crypto exchange.
● The first step is to select a cryptocurrency exchange pair
Assume you already own Bitcoin and are interested in purchasing Ethereum. Here’s how SimpleSwap handles BTC to ETH conversions.
● Next, enter the recipient’s address
The Ethereum address of the receiver must now be entered. Your ETH address should be checked twice. After the exchange, your Ethereum will be delivered to this address.
● Transfer the digital currency
To continue the trade, you’ll need to send the specified number of Bitcoins to the address displayed on the exchange page.
Cryptocurrency will now be yours!
You will receive your selected cryptocurrency once the swap has been completed and the exchange has been completed properly.
Interest Rates
SimpleSwap charges a fee for all transactions and swaps. It’s not considered a trading cost but rather a network fee. Although the company does not explicitly identify its fee structure, the prices offered for exchanges appear to do so. Those who want to trade large amounts of crypto assets like Ethereum and Bitcoin on the platform are likely to be alarmed by this news. Many things can influence the cost of a service.
A fixed or a variable exchange rate is available to users, although the SimpleSwap fees are included. SimpleSwap doesn’t charge a fee for withdrawals because it never keeps any assets in the first place.
Cryptocurrencies
This platform allows more than 600 coins and currencies to be swapped, ranging from Bitcoin, Ethereum, Binance coin, ripples, etc.
Mobile & App
The SimpleSwap app is downloadable for use on both the iOS and Android operating systems. It is mobile-friendly and can be used to trade and exchange cryptocurrency.
How to Create a SimpleSwap Account?
On SimpleSwap, users can now log in using their Google or Facebook accounts.
The site users interested in setting up an account can do so by providing the required information and proceeding through the appropriate processes.
Registration Process of SimpleSwap
After signing up for SimpleSwap, you don’t have to use any of its services. Trading can begin immediately without the requirement for any registration or signup. Other platforms may not be able to compete with this level of user-friendliness and comfort. Instead of going through the verification process, users may access the forum, provide their information, and complete the swap or transaction. It’s also possible that the organization will ask you to complete the KYC process when you have an issue or an incorrect transfer.
Contact & Support
Contacts
For service issues: support@simpleswap.io
For marketing requests: marketing@simpleswap.io
For general questions: partnerships@simpleswap.io
Is SimpleSwap legit?
It would appear that SimpleSwap is a trustworthy and secure platform. It has not been broken into yet, and the precautions taken appear to be sufficient for the time being.
Conclusion
SimpleSwap is an exceptionally user-friendly platform that offers a wide range of customization options. It gives individuals a means to start trading right away, just like SpectroCoin, in a few easy steps without going through a comprehensive verification process. SimpleSwap is one of the most highly recommended exchanges for users who want to trade a diverse selection of cryptocurrencies but don’t want to be concerned about the availability of liquidity pools. It is a platform with convenience and transparency because of the long range of features and services it offers.
Table of Contents
 | Rudolph Taylor is Editor-in-Chief at Coinlive.io which is located at Wymondham in Norfolk, United Kingdom. His main job is writing about cryptography to keep his readers updated on current trends and industry news in detail. Rudolph has been able to achieve this in the past few years by providing well-structured write-ups. |
Frequently Asked Questions
The time required to swap coins often ranges anywhere from 5 to 60 minutes. The time it takes to add a block to the network is directly proportional to the processing speed. The USDT (TRC-20) blockchain has a block time of 15 seconds.
SimpleSwap is very easy to use. You can use it to swap various coins for another by following this process. First, you open the website, then you choose which cryptocurrency you would like to swap. When that is done, input the value of the cryptocurrency. Finally, you are ready to go.
Let's imagine you wish to buy THETA. What is it that you ought to do? It is highly recommended that you visit the SimpleSwap homepage and adhere to the guidelines that are listed below: In the first drop-down list, select the currency you wish to swap for another (for example, Bitcoin). Enter the value that you would like to receive in exchange. In the second drop-down list, choose THETA as your option. You will be able to view an estimate of the amount returned to you following the transaction. Please enter the address of the recipient here. This is the address where you will receive THETA. Take care, and double-check that you have the correct address, please. Verify that all of the information that you supplied is correct. Click the Exchange button if everything is in the right order. The Bitcoin deposit address will be displayed to you. Before you can begin the exchange, you must send the required bitcoins to this address.