Simpleswap Review 2022: Scam Or Safe? Pros & Cons

Simpleswap Review 2022- Scam

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The wide adoption of digital assets has changed everything, impacting our way of trading the most. You don’t have to stand in a queue or phone your broker to place the trade. Instead, the process has become more streamlined than ever before, allowing you to trade Cryptocurrencies from anywhere, anytime. And that’s all become possible with the emergence of quick Crypto trading platforms. One such good platform for quick crypto trading is a Simple swap

The platform has made crypto trading convenient and accessible to everyone. So Are you wondering about trading with Simpleswap exchange? But before choosing, it would be helpful if you already have detailed information regarding the crypto exchange platform. 

However, our detailed and unbiased Simpleswap Review will help you decide whether it’s a good fit for you or not. 

Simpleswap Review: Quick Overview

Official Website/Webpage www.simpleswap.io
Establishment 2018
Headquarters  Ajeltake, Marshall Islands
Available Cryptocurrency 300+ including Bitcoin, Litecoin, Dogecoin
Crypto Trading Pairs Supported 
Native Token Simple swap coin
Supported Countries Available in Most Countries, except the US
Minimum Deposit N/A
Simpleswap Fees for Deposits Free
Supported Fiat Currencies USD, EURO, GBP, & More
Transaction Fees Vary depending on currency and payment methods
Fees for Withdrawal Free
Mobile Application Available
Customer Support Live Chat, Email and Social Networks

What Is Simpleswap? 

SimpleSwap is an instant crypto trading platform that allows users to trade their cryptocurrencies or buy new crypto assets through numerous crypto exchanges. In addition, Simple Swap supports over 300 coins, including its native token Simpleswap coin.  

The best part about the platform is that it doesn’t require the users to register or sign up. Instead, all they have to do is to visit the website or open the simpleswap app, enter the details of the transaction, and process it.  

The platform makes instant trading possible across all the supported Crypto exchanges. In addition, the platform supports both floating and fixed rates for trading crypto assets.  

Additionally, the company has also started an affiliate and a loyalty program which is intended to entice new users to be a part of the growth of the platform. The program lets users earn cashback in BTC. 

It also offers the best crypto wallet based on AES encryption, which can be used as a browser plugin. Moreover, users can access the platform through the Simple swap app, available for both iOS and Android.

Simpleswap Review: How Does The Platform Work? 

It is not a crypto exchange but a platform that connects users to a number of top cryptocurrency exchanges. With 300+ Crypto coins available for investors and traders, the platform offers plenty of trading options to users. 

The platform is quite intuitive and easy to understand, even for novices. Simple, choose the crypto coin you wish to swap and choose another crypto coin. Now, enter the values & wallet address to complete the transaction.

The transaction charges are included in the exchange crypto price. However, the transaction or trading fees information is not available on the platform. 

Integration to Other Platforms:

As an instant and simple exchange, the platform is integrated into some crypto exchanges like Kraken, Binance, Coinbase, etc. The SimpleSwap app can search for the most profitable exchange rates for its users in a short time.

Is Simple Swap Legit? 

Yes, Simple Swap is a legitimate platform that offers services in most countries worldwide. As SimpleSwap is not a decentralized platform, and thus, the developing team itself oversees the regulations. 

Additionally, the platform abides by the local laws and regulations of the regions where it operates. Finally, the verification section provides users with a provision to verify their identity to clear up any mis-transactions.

What Are The Pros And Cons Of Using Simple Swap?

To simplify your query about whether it is a good fit for you or not, take a closer look at the pros and cons of the platform. 

Pros Cons
Support 300+ Crypto coins Lacks Advanced Trading Bots, and Social Trading Option
User-friendly Interface Doesn’t function like a simple exchange platform
Incentive-based loyalty and affiliate programs
Offer Own Crypto token – Simple swap coin

Simpleswap Review: Top Features

The platform offers a long list of features and benefits to its users. So, here’s the list of features through which you can get the best user experience:-

  • Simple Swap enables instant trades through crypto exchanges, and the funds are typically deposited instantly.
  • Apart from the instant exchange service, the company also offers a light crypto wallet that works well with the platform.
  • The wallet supports an extensive range of crypto assets. 
  • The platform offers a 24/7 live chat feature through which users can connect to the support team.
  • Price alert notifications can also be set up on the platform through the mobile app and order history.
  • The benefit of using the platform without any sign-up is yet another feature in itself.

How To Register on Simpleswap Platform? 

The best part of using the Simple swap platform is that it allows traders to trade on the platform without needing to sign up or register; just visit the official website – www.simpleswap.io. The function sets this platform apart from other available crypto exchanges. 

Users can directly buy, sell, or swap digital currencies without the need to complete the verification process. However, users must complete the verification process in case of wrong transfers. 

Traders who want to create an account with the platform can fill in their credentials and complete the verification process. The platform also lets users log in through Google and Facebook accounts.

How To Buy and Sell Cryptocurrency On Simpleswap?

The entire process of buying and selling cryptocurrency on Simple swap is quite intuitive. 

  • To buy or sell Crypto on the platform, visit the official website or download the Simple Swap app.
  • Now, choose the trading pairs based on 300+ cryptocurrencies available on the platform. 
  • Enter the amount and recipient’s wallet address, and confirm the transaction.

Read WazirX Review 2022: Pros and Cons Revealed

Simple Swap Review: User-Interface

As several crypto exchanges offer different trading views, you should yourself determine which trading view suits you the best. 

The common thing that every trading view shares are that they all show the order book or at least part of the order book, a price chart of the cryptocurrency and order history. They also offer to buy and sell boxes. 

Before deciding on an exchange, look out at the trading view so that you can determine whether it suits you the best. In our opinion, the buy interface at SimpleSwap io is relatively easy to understand, even if you’re a novice crypto investor. However, it fails to offer all the advanced buy/sell features to more seasoned traders.

Do Simple Swap Offer Mobile Trading?

Most crypto traders think desktop versions provide them with the best trading conditions. Due to bigger screens, traders can view more crucial information. 

The trading chart is also easiest to read on simpleswap.io. However, not all crypto investors require web-based versions for their trading. Instead, some investors prefer to do trading via their mobile phones. 

If you are one of them, you’ll be happy to know that SimpleSwap’s trading platform also offers a mobile trading option. You can download the Simple swap app on both the App Store and Google Play.

SimpleSwap Fees Structure

The platform charges a fee for all the trades that take place on Simple Swap. However, it is charged as a network fee. As the fee structure is not aptly stated, the crypto prices are believed to include the fee in them beforehand. 

There are several considerations that can affect the fees. Although the transaction fee is a part of the exchange rate, users can choose between a floating rate or a fixed one. Additionally, the platform doesn’t charge any withdrawal fee as it never stores any assets.

What Payment Methods Does Simpleswap io Platform Support?

Investors who are looking to buy crypto assets can do so with the help of the Simple swap.io platform. They can also store the crypto assets in the SimpleHold wallet.

Available payment methods include:

  • Credit Card (VISA & MASTERCARD)
  • Fiat Currencies, such as USD, GBP, EURO, etc. 

Simpleswap Review: Supported Countries & Currencies

The platform serves various continents and several countries. The primary focus of the company is on Europe and Asia. However, the platform is exempted in the United States (US). 

Available fiat currencies include US Dollar (USD), British Pound Sterling (GBP), EURO (EUR), etc. The complete list is available on the company website, along with plenty of Crypto trading pairs.

Read 8 Best Crypto Trading Platform UK

How Simpleswap Sets It Apart From Other Cryptocurrency Exchanges? 

The platform has two broad features that set it apart from most other platforms. First, as a trading system, the platform is integrated with some of the most prominent and most influential crypto exchanges around the world. 

This makes the platform offer a genuinely unparalleled crypto offering, with more than 300 coins to choose from. Secondly, the system provides an instant trading option without any complications, limits, or time-consuming registrations. 

Investors can start trading cryptocurrency instantly through a streamlined user interface via a website or Simpleswap app (available for both iOS and Android devices).

Simpleswap Review: Top Security Features

The platform aims to offer the safest trading environment to crypto traders in the decentralized finance industry. The wallet also comes with a high-security rating with its AES encryption method. 

The platform doesn’t store any assets, so it is basically safe from any cyber-attacks. However, while considering the platform’s security, users should consider every factor, such as the exchange, the protocols, and the wallet.

Customer Support

SimpleSwap io has an excellent reputation among its users and partners around the world. Additionally, the platform provides exceptional customer support through the live chat option. 

Moreover, it also allows users to connect to the support team through Twitter, Telegram, email etc. In our opinion, the support staff is highly responsive and prompt in resolving users’ queries. Users can also check out FAQ Section to solve their doubts.

Conclusion: 

After analyzing this detailed Simpleswap review, we came to the conclusion that it is an instant crypto trading platform with a highly simple-to-use interface. 

It provides a medium for crypto traders to start trading immediately without needing to go through any verification or registration process. 

For those who want to trade a wide range of cryptos instantly without needing liquidity pools, the platform is one of our top recommendations. The long list of features and benefits makes it a more convenient and transparent platform.

The only drawback is that it is not a fully-functional crypto exchange, so if you’re looking out for a reliable crypto trading platform with plenty of features, you can head to InvestBy. Open an account with InvestBy to start your Crypto trading journey more conveniently. 

FAQs

Is Simpleswap IO Real?

Yes, Simpleswap io is a real crypto trading platform allowing traders to instantly place crypto trades. 

Can US Citizens Use Simpleswap? 

No, the services are not available in the US. 

Can You Buy Crypto on Simpleswap.io?

Yes, it is possible to buy and sell cryptocurrencies on the platform. 

What Is Simpleswap IO?

Simple swap.io is an instant crypto trading platform that allows users to swap Cryptos in the most convenient way possible. 

Is Tfuel On SimpleSwap? 

Yes, Theta Fuel (Tfuel) Crypto coin is available on the platform. 

How Long Does It Take For Simple swap?

Coin exchange on the platform usually takes 5 minutes to 1 hour. 

Do Simpleswap Offer Mobile Trading?

Yes, the system offers an intuitive mobile application – A simple swap app. 

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