How SimpleSwap Works as an Exchange
What it's actually like to use SimpleSwap for a wallet-to-wallet swap: how the routing and rates work, when verification kicks in, and who it fits. Checked against the product's own current facts, not a marketing page.
As an exchange it behaves unusually: there is nothing to log into and nothing to fund. You name two assets, send from a wallet you control, and the converted asset arrives at another wallet you control. It is not built for active trading, and a few checks stay on your side no matter how smooth the routing is.
- Best for: quick, self-custodial conversions between wallets you already own.
- Less suited to: active traders who want an order book with visible fees.
What sits behind the quote
The path a transfer takes
There is no order book and no exchange account. What you are using is a router that sits between two wallets.
No account to open, no order book to read, and no balance sits on the platform in between. A full step-by-step walkthrough is on How It Works.
Choosing between a locked and a live rate
| Rate type | What's locked | Trade-off |
|---|---|---|
| Fixed | The quoted price, for 20 minutes from the start of the swap | Slightly wider spread, the cost of price certainty |
| Floating | Nothing upfront; set at the moment of execution | Tighter spread, but the amount can land above or below the quote |
Either way the number is assembled by comparing what 20+ venues quote for that specific pair. No internal order book decides it.
The few times an account matters
| Scenario | Account needed? | Verification |
|---|---|---|
| Crypto-to-crypto swap | No | None, unless a specific transaction is flagged during compliance screening |
| Fiat purchase | No SimpleSwap account, but the payment partner runs its own flow | Partner's own KYC applies |
| Optional sign-up | Adds a Loyalty Program, swap history and rate alerts | Not required to swap |
What the service provides
- 2,800+ assets available to exchange
- 3.2M+ trading pairs
- A locked rate or a live one, chosen per exchange
- Browser, iOS and Android
- Live chat around the clock, roughly four minutes to a reply
- Reachable inside 6,000+ wallets and products
When this model suits you
This works for you if
- You are moving between wallets you already hold and have no interest in another account
- The pair you want crosses chains and no single venue lists it
- Watching an order book for a routine conversion is not how you want to spend the afternoon
Look elsewhere if
- You trade often and need depth charts with explicit maker and taker pricing
- You want the fee broken out as a line item rather than folded into the rate
What users report
The full record, ratings, video reviews and press, is on Reviews.
"Really simple and low fees. Fast and intuitive UI, no useless authorisations." — Artiom, Trustpilot