The buying and selling of digital assets is the action from which every other activity in crypto stems. Every method has tradeoffs, whether you are using a decentralized or centralized exchange (CEX), instant exchange, or aggregator. SwapSpace takes some of the best aspects of exchanging with CEXs and puts them in front of the user, helping you find the best rates and exchange pairs on the market. Find out everything you need to know in this comprehensive SwapSpace guide.
SwapSpace
What is SwapSpace?
SwapSpace is an instant cryptocurrency exchange aggregator that collects swap offers from major instant exchanges, presenting them in a single location.
This platform simplifies the exchange process, offering access to over 1,750 cryptocurrencies for quick and registration-free swaps. It provides users with the best market rates by aggregating multiple offers with no additional fees. Instead, SwapSpace negotiates with its partners to secure profitable terms for its users.
Exchange aggregators are fairly common in the decentralized world. If you have ever used Matcha.xyz or 1inch exchange, you have used an exchange aggregator. SwapSpace is similar, except it aggregates instant exchanges. Instant exchanges are simply CEXs that do not require users to have an account where their funds are kept in a custodial wallet.
Andrew Wind is the CPO of SwapSpace and has over five years of experience in fintech, e-commerce, and Software as a Service (SaaS) sectors.
“SwapSpace aims to provide a full spectrum of information for the exchange options. Only trustworthy partners and attention to the customers. Our main feature is that we save your time. We did all the work for you. As easy as pie!”
Andrew Wind, CPO at SwapSpace
How does SwapSpace work?
SwapSpace works by consolidating offers from numerous instant exchanges. It systematically organizes these offers, presenting them to users in order of the most favorable rates.
The service facilitates these swaps without levying any additional charges on its users. Instead, SwapSpace shares commissions with the exchange providers.
As a result, users are assured rates equivalent to those available directly from the services integrated within the platform. The conversion rates displayed to users include all applicable exchange fees; however, they exclude miner fees, also known as network commissions.
SwapSpace lets users quickly purchase or sell cryptocurrencies with over 90 fiat currencies through various payment methods, including Visa, MasterCard, Apple Pay, and Google Pay. The minimum transaction amount varies based on the specific cryptocurrency that you want to purchase. It typically ranges from about $2 to $20. Conversely, SwapSpace has no maximum limit on the amount of cryptocurrency that you can exchange.
How to exchange crypto on SwapSpace
1. Choose crypto and amount: Start by selecting the cryptocurrency you wish to exchange and receive. For example, if you want to trade Ethereum for Bitcoin, select ETH in the “You send” field and BTC in the “You get” section. Enter the amount of Ethereum you wish to swap. Afterward, click the “View offers” button to browse and select the most suitable exchange service based on the presented options.
Before you continue, you may also choose between different rates and exchanges. This section displays varying levels of KYC, wait times, and other relevant information. Note that as stated previously, the best rates are shown at the top of the list.
2. Provide wallet addresses: Enter your Bitcoin recipient address in the “Provide the recipient address” field. You can also provide a refund address for your Ethereum, though this is optional. For users with a Trezor wallet, an option to connect the wallet directly is available. Make sure all information is correct before clicking the “Next” button.
3 Transfer funds: Next, transfer your Ethereum to the provided address using your preferred wallet. A QR code may be available for a quicker transaction process. If you use MetaMask, Trezor, or compatible wallets, then you can employ WalletConnect. The exchange will proceed once the partner service receives your Ethereum.
4. Wait for confirmation: Finally, wait for the exchange to process. You can monitor the status of the exchange using the “Swap Tracker.” Should there be any concerns or delays, contacting support is recommended for assistance. Once the process is complete, you will receive your Bitcoin in the designated wallet.
Why choose SwapSpace?
There are many reasons people choose to use exchange aggregators like SwapSpace. Here’s why you may find SwapSpace of particular interest:
- 25+ partners
- More than 1,750 coins
- No sign-up required
- Fixed and floating rates
- No limits on purchases
- Around-the-clock support
- Affiliate program
- User-friendly interface
When it comes to diversity of choice, SwapSpace has an expansive list of exchange rates from 25+ different exchanges. This allows users to choose from the most favorable rates without the need for extensive research.
Users who prefer stability in their transactions can opt for the fixed-rate exchange. This option locks in the exchange rate for a period of time. This ensures that users receive the exact amount anticipated. In contrast, the traditional floating rate may fluctuate during the transaction.
Additionally, SwapSpace does not impose additional fees on top of those imposed by the integrated exchanges. This prevents users from incurring multiple charges on swaps. SwapSpace is in continuous discussions with its partners to potentially lower these rates, which could make using SwapSpace more cost-effective than direct transactions with the exchanges.
By integrating various services, SwapSpace has expanded its offerings to include a wide range of cryptocurrencies and over 100,000 exchange pairs. The platform regularly adds new listings to ensure it’s offering fast-paced trends. For example, SwapSpace listed DogWifHat (WIF) on March 20, 2024, allowing users to capitalize on the Solana meme coin frenzy.
The platform also has a responsive 24/7 customer support service. Typically responding within 10–15 minutes, the support team is accessible through online chat or email.
SwapSpace features
Here is a brief overview of some of the services and features that SwapSpace has to offer.
Bridge assets
SwapSpace goes beyond the ordinary exchange by also offering bridge services. You can choose between 12 different blockchains and many more assets to transfer between networks.
Partner selection
SwapSpace collaborates with companies that are well-established market leaders. These partners provide a range of cryptocurrencies, fast transactions, and exchange limits.
Customer support
The platform’s support team is operational 24/7. However, some issues may arise due to typical network congestion, requiring additional wait times.
Currency variety
Users have the option to swap among more than 1,750 different cryptocurrencies and tokens. The platform is continually working to increase the variety of available digital assets. Additionally, SwapSpace supports over 90 fiat currencies through various payment methods, including Visa, MasterCard, Apple Pay, and Google Pay.
User friendly
SwapSpace has a user-friendly interface that is designed to be quick and intuitive. This simplifies the swapping process, providing users with an efficient experience by aggregating offers from various top exchange services in one place.
Registration-free transactions
Highlighting user convenience, SwapSpace operates without the need for registration, removing the barriers of logins, passwords, and account verifications and thus streamlining the transaction process.
Earn with affiliate program APIs
SwapSpace also has an affiliate program that allows users to generate income. By sharing referral links or integrating SwapSpace services via an API, participants can earn 50% of the platform’s profit share, providing an opportunity for additional revenue.
SwapSpace Invader’s Club
The SwapSpace Invaders Club is a loyalty program introduced by SwapSpace and centered around 9,999 unique NFT genesis tokens. Users can obtain these tokens by completing any transaction on the platform, at which point they become members of the Invaders Club.
As part of the club, these tokens go beyond standard NFT functionality. They allow holders to access exclusive benefits, such as cashback and other incentives. These benefits vary based on the token.
Additionally, the program includes a tiered system where users can increase their benefits, such as receiving up to 50% cashback from the platform’s revenue share. This system is based on user engagement through exchange activities and referrals.
To join the club and start, users need to complete an exchange on the SwapSpace platform, which entitles them to one of the limited genesis tokens.
SwapSpace roadmap
SwapSpace has big plans for 2024, some which are already taking place, and more to come later. Notably, there is an ongoing campaign in collaboration with Galxe, a platform known for hosting quests and tasks. In this campaign, members who successfully complete specific activities will receive exclusive rewards from SwapSpace.
Furthermore, SwapSpace is set to broaden its product range with a series of launches, including introducing a mobile app. This move aligns with a growing trend towards mobile-first financial services.
In addition to the mobile app, SwapSpace is exploring the financing sector with the upcoming release of a crypto loans service. This feature aims to allow users to borrow funds by leveraging their crypto assets as collateral. This provides customers with liquidity without the need to liquidate their assets.
Another innovative service currently in effect is “Spend Crypto,” which bridges the gap between crypto and everyday purchases. Through this service, users can use their crypto to shop on popular platforms such as Amazon and Spotify. A user-friendly widget from Bitrefill supports this functionality.
How is SwapSpace customer support?
According to TrustPilot, SwapSpace receives predominantly positive reviews from its customers. SwapSpace has over 450 reviews and a trust score of 4.6. First-time users find the platform reliable and straightforward, praising its clear instructions and streamlined process. Many users deem the swap rates attractive and the platform easy to use.
However, there are cautionary notes regarding certain aspects of using SwapSpace, particularly when dealing with exchanges that have high KYC requirements. Users are advised to opt for exchanges with lower KYC risks to avoid delays.
Customer service at SwapSpace is one of the platform’s strong points. The company is known for its prompt and effective resolution of issues. When BeInCrypto engaged with these services, we found the overall responsiveness and level of support to be excellent.
How does SwapSpace compare to others?
| Platform | Type | KYC | Fees | Supported assets | Wait time (minutes) |
|---|---|---|---|---|---|
| SwapSpace | IEX aggregator | Depends | No | 1,750+ | 5-60 |
| Changelly | IEX aggregator | Depends | 0.25% | 700+ | 5-30 |
| Matcha.xyz | DEX aggregator | No | No | ERC-20 | Ethereum block times |
| 1inch Exchange | DEX aggregator | No | No | ERC-20 | Ethereum block times |
For this comparison, we chose three platforms: Changelly, Matcha.xyz, and 1inch Exchange. All of the aforementioned platforms are exchange aggregators.
However, Changelly aggregates instant exchanges, and the latter aggregates decentralized exchanges (DEX). There are many tradeoffs to using either decentralized exchange or instant exchange aggregators.
In the former, you typically get more stable rates; in the latter, you maintain privacy. The platforms differ in the realm of fees, wait times, KYC, and supported assets.
Changelly has a service fee of 0.25%. SwapSpace, Matcha, and 1inch do not charge any additional fees. Whether or not you must KYC on SwapSpace and Changelly is based on various factors. SwapSpace KYC depends on fiat users, while Changelly depends on the transaction activity.
The DEX aggregators both support ERC-20 tokens. However, Matcha supports nine different blockchains, while 1inch supports twelve. SwapSpace takes a clear lead regarding range of access, with support for over 1,750 cryptocurrencies. Meanwhile, Changelly supports over 700.
Taking exchanges back to self-custody
SwapSpace is transforming the way users traditionally purchase crypto. It has returned the job of exchanges back to their non-custodial roots, all while offering consumers the best rates. If you value low fees, limited KYC, and self-custody, SwapSpace may be a good option for you. It is important to remember that engaging with decentralized assets has risks, and you can lose money — ensure to invest responsibly. Do your own research before investing in any financial activity. If you are unsure of any opportunity, please consult a financial advisor.
Frequently asked questions
SwapSpace is an instant exchange aggregator. It is based in the Marshall Islands and was created in 2019. It allows users to find the best rates on more than 1,750 cryptocurrencies.
SwapSpace is an instant exchange aggregator. Instant exchanges allow users to purchase crypto without custodial accounts. Aggregators take a group of exchanges to find customers the best rates on crypto purchases.
No, SwapSpace does not require users to KYC to use its services. SwapSpace’s partners may require users to KYC on certain trades. However, the platform aggregates exchanges with varying levels of KYC, ranging from low to high, giving customers more options.
SwapSpace does not charge any additional fees on top of the exchange fees of its partners for exchanges. The minimum purchase amount for transactions varies, but is typically between $2-20. There is no maximum purchase amount.
Disclaimer
In line with the Trust Project guidelines, the educational content on this website is offered in good faith and for general information purposes only. BeInCrypto prioritizes providing high-quality information, taking the time to research and create informative content for readers. While partners may reward the company with commissions for placements in articles, these commissions do not influence the unbiased, honest, and helpful content creation process. Any action taken by the reader based on this information is strictly at their own risk. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
