What Happens Between Sending and Receiving
Five points where something can go right or wrong. No account is required for a standard exchange, and nothing rests on the platform along the way.
What happens, in order
Choose your pair
Name the asset going out and the asset coming back. An estimate appears from live liquidity before anything is committed.
Pick a rate type
A fixed rate holds for 20 minutes. A floating one moves with the market and settles when the exchange executes.
Enter your wallet address
Many assets live on several chains — USDT runs on TRX, BSC and ETH alike. Pick the chain your receiving address actually belongs to.
Send the deposit
A one-time deposit address is issued for that exchange. Sending from your own wallet is the final step under your control.
Delivered
As soon as the deposit confirms on-chain, the exchange routes through the chosen source and the converted asset is sent to the address you entered.
Where the quoted price comes from
With no order book there is no internal price to publish. The quote is built elsewhere and passed through.
- Checks 20+ sources per pair. Live pricing is compared across CEX and DEX liquidity before a swap routes anywhere.
- No internal inventory needed. That's also how coverage runs to 2,800+ assets: SimpleSwap taps liquidity that already exists elsewhere, rather than holding it.
- The same pair can quote differently minutes apart. Source selection shifts with market conditions, which is the trade-off for not being tied to one order book.
What prompts a compliance check
Two specific situations, not a blanket rule.
- A fiat purchase. Routes through a third-party payment partner, which runs its own KYC before releasing funds; that's the partner's process, not SimpleSwap's.
- A flagged transaction. A specific crypto-to-crypto swap can require a check during compliance screening if it trips an AML rule, regardless of amount or asset.