Cryptocurrency Tools: SimpleSwap

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SimpleSwap is a cryptocurrency platform that gives users an avenue to trade their assets through numerous crypto exchanges. The platform doesn’t require users to register or sign up – users can simply visit the website or use the app to process transactions.

Simpleswap makes instant trading possible across exchanges. The platform offers floating and fixed rates for trading cryptocurrency assets.

The platform also uses an affiliate program to further entice users to add to the website.

SimpleSwap is not a cryptocurrency exchange itself, rather a platform that enables trading through a number of cryptocurrency exchanges. With over 300 assets available for investors and traders, there is a diverse variety of trading pairs. Using the platform is quite intuitive and as simple as it gets. Select the crypto asset you wish to swap, select the asset that is to be received, and after entering the values & wallet address, the transaction would take place.

The charges for transactions are largely dependent on the exchange price, which can vary.

Simpleswap has a number of features, including:

  • SimpleSwap allows instant transactions through cryptocurrency exchanges, and the funds are typically deposited within a few moments.
  • Apart from the instant exchange types or swap of assets, the company has also launched a light crypto wallet that works quite well with SimpleSwap.
  • The wallet also supports a wide range of crypto assets. The platform has a 24/7 live chat feature, through which users’ issues can be resolved quickly.
  • Price alert notifications too can be set up on the platform through the mobile app along with order history.
  • The benefit of being able to use these features without any sign-up is yet another feature in itself.

Simpleswap is not decentralized, and so is managed by the Simpleswap team. It complies with local regulations.

Though not required, users can still create accounts on Simpleswap through a sign-up form. Logging in through Google and Facebook accounts is also possible on SimpleSwap.

SimpleSwap offers hundreds of such pairs based on more than 300 coins. Enter the amount of cryptocurrency to be swapped, enter the wallet address of the recipient and confirm the transaction. It is reputed as one of the, if not the easiest, ways to swap crypto assets.

The transactions and trades that take place through SimpleSwap come with a fee. However, the fee is not treated as a trading fee, rather a network fee. The fee structure is not aptly stated by the company, but the prices that are offered for exchanges are believed to include the fee in them beforehand. This is bound to raise concerns for users who wish to trade high volumes of crypto assets such as Ethereum and Bitcoin on the platform. There are several factors that can affect the fees.

Although the fee is a part of the exchange rate, users do have the option to either choose a floating rate of exchange or a fixed one. When it comes to withdrawals, SimpleSwap does not charge any withdrawal fee since it never stores any assets, to begin with.

SimpleSwap maintains a good standard of safety that is at par with some of the big exchanges and platforms in the decentralized financial industry. The wallet offered by the company also comes with a high-security rating as a result of its AES encryption method. SimpleSwap does not store any assets, so it is safe from being a typical target for cyber attacks.

Simpleswap is a versatile platform that provides users a way to start trading instantly. For those who wish to trade a wide range of cryptocurrencies without having to worry about liquidity pools, SimpleSwap is one of the top recommendations.

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