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Tuesday, January 26, 2021

Safe For Trading and Storing Crypto?

Overview

Legal name:  SwapSpace

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Headquarters: Marshall Islands

Year founded: 2019

Exchange type: Non-custodial

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Trading fees: Included in the shown rates

Deposit methods: Cryptocurrency

Supported coins: 350+ cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and many more

Fiat: No

Customer service: email, chat.

While cryptocurrency is gaining more and more popularity, its inconsistency sometimes makes it difficult to see what’s what and decide about the exchanges best to use, what rates are fine and what are a rip-off, and so on. And here the aggregators come out.

SwapSpace cryptocurrency exchange aggregator combines the exchange options for instant swaps, and that’s you who compare the offers and take the final decision. It eliminates the searching part from cryptocurrency exchange while keeping your private keys yours.

In this article, we will cover up the complete aspects of SwapSpace exchange such as features, fees, supported currencies, trading, and much more. Let us dig into the SwapSpace review in detail now.

What is SwapSpace?

SwapSpace is an instant cryptocurrency exchange aggregator that combines thousands of exchange offers by more than twelve major exchanges into one simple interface. It operates worldwide since 2019 and suits both for novices who don’t get the exchanges’ sticks and candles yet and for professional traders who need fast swaps or prefer not to trust their funds to custodial exchanges.

At the moment, SwapSpace cooperates with all major players on the instant exchanges market (Changelly, SimpleSwap, ChangeNow, ChangeHero, to name just a few). It collects the rates for more than 350 cryptocurrencies and shows them arranged from the best.

SwapSpace offers an instant, simple, and registration-free crypto-to-crypto exchange service. The service can be accessed via any device. For Trezor users, it provides an opportunity to make swaps via Trezor Connect without leaving SwapSpace.

It also offers an API for any services including crypto wallets so that users could exchange crypto directly without needing to go to SwapSpace’s website.

SwapSpace’s Features

1) No registration. To use SwapSpace, you don’t need to sign up or enter your personal data.

2) No pre-KYC. On SwapSpace, you don’t need to go through the mandatory KYC procedure. However, its partners can set up a selective KYC check in case of detecting a suspicious transaction.

4) Large number of coins and tokens. At the moment, SwapSpace offers more than 350 cryptocurrencies to be exchanged, which makes it the instant exchange with one of the widest coin variety.

5) Fixed and floating exchange rates. 

6) No extra fees. SwapSpace shares the fee with integrated exchanges instead of charging its customers. Along with providing the opportunity to compare the rates and choose the best one, it makes the exchanges profitable.

7) Trustless. Since SwapSpace is non-custodial, it doesn’t store your funds and lets you keep your private keys. You are the only custodian of your crypto.

SwapSpace Fees and Limits

SwapSpace doesn’t charge any extra fee from its customers, which means that in the SwapSpace interface you will see the same figures with the integrated exchange services ones. Its lower limits start from $2, and they do not set upper limits for swaps.

SwapSpace Supported Currencies

SwapSpace supports more than 350 cryptocurrencies, and this number is constantly growing. This list includes major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), stablecoins (Tether (USDT), USD Coin (USDC), and many more), recent breakthroughs like Polkadot (DOT), and a wide range of DeFi coins (YFI, YFII, SushiSwap, Aave, Compound, Sun).

How to Exchange Cryptocurrencies on SwapSpace

STEP 1. Choose a pair and select the rate

To buy Bitcoin with Ethereum, select ETH on “You send” and Bitcoin in the “You get” sections on the SwapSpace homepage. You can either type them manually or pick from the drop-down menus. Enter the amount of Ethereum you want to exchange. Press “View offers” and then pick up the crypto exchange service which meets your requirements. 

STEP 2.  Enter the recipient address

Provide the Bitcoin wallet address where you’d like to receive your funds

Check the information carefully and click the “Next” button.

STEP 3. Transfer funds

Send the exact amount of ETH to the provided address and receive Bitcoin in your wallet within minutes. 

STEP 4. Wait until the exchange is finished

You will get Bitcoin in your wallet in a few minutes! The exact time is a subject of various parameters: blockchain network workload, transaction time, processing speed, etc. Concerned about your transaction? Check the swap tracker or contact the support.

SwapSpace Pros and Cons

 Pros

  • No registration or mandatory pre-KYC
  • Fast and secure cryptocurrency exchange
  • No extra fees
  • Fixed and floating exchange rate
  • 350+ currencies available
  • 24/7 chat and email support

 Cons

  • No trading with fiat currencies
  • It is a fairly new company
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