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SimpleSwap review: Top cryptocurrency exchange
SimpleSwap stands out as a top cryptocurrency exchange, known for its user-friendly platform and efficient services. Supporting a wide range of cryptocurrencies, the platform ensures seamless transactions with competitive exchange rates. Whether you're a beginner or an experienced trader, SimpleSwap's intuitive interface provides a straightforward and reliable trading experience. Our review delves into the platform's key features, emphasizing its commitment to simplicity, variety, and overall excellence in the dynamic world of cryptocurrency exchanges.
SimpleSwap: PROS AND CONS
REPUTATION & HISTORY
Launched in 2018, SimpleSwap emerged as a pioneering cryptocurrency platform, offering users a secure avenue to trade digital assets at reasonable fees. Unlike a traditional exchange, SimpleSwap operates as an aggregator swap platform, connecting traders to liquidity and assets sourced from various cryptocurrency exchanges.
SECURITY & SAFETY
Adhering to top-notch security standards, the SimpleSwap platform employs HTTPS and AES encryption. Since SimpleSwap refrains from storing any assets, it presents a lower-risk target for potential hackers and cyber attacks. This distinction reduces the necessity for the extensive security protocols and insurance funds typically associated with major exchanges.
DEPOSIT OPTIONS
As of now, the exclusive fiat payment method supported is through credit or debit cards, specifically Visa or MasterCard, processed by SimpleSwap's partner Mercuryo. Notably, wire transfers, SEPA transfers, or PayPal payments are not currently accepted.
CURRENCY OPTIONS
While the platform predominantly caters to users possessing cryptocurrency in a self-custodial wallet seeking asset exchanges, it does offer alternatives for users interested in buying crypto or making deposits using a bank card (Visa & Mastercard).
The presently supported fiat currencies encompass USD, GBP, EUR, RUB, TL, UAH Moreover, the platform extends support for crypto-to-fiat transactions, involving the following cryptocurrencies: BTC, BTH, ALGO, BAT, BCH, DAI, and TRX.BANKING
WITHDRAWAL SPEEDS
SimpleSwap's withdrawal speeds are contingent upon the specific cryptocurrency being exchanged and the blockchain network's processing time. Users may experience varying withdrawal times based on factors such as network congestion and blockchain confirmation requirements.
ADDITIONAL FEATURES
SimpleSwap primarily operates as a web-based platform for cryptocurrency swaps and does not offer additional app-specific features. Users can access its services seamlessly through the website, making it a straightforward solution for crypto-to-crypto exchanges without the need for a dedicated mobile application.
BONUS AND REWARDS
There is no active bonus on SimpleSwap.
SUMMARY
SimpleSwap offers convenient crypto-to-crypto swaps without requiring identity verification and provides excellent 24/7 customer service. However, potential drawbacks include occasionally longer swap times compared to traditional exchanges like Binance or Kraken, which may be a concern for users seeking more immediate access to their swapped coins. Despite this, SimpleSwap remains a solid choice for those looking for easy exchanges between cryptocurrencies, with a reputable track record and positive customer feedback.
