The Mechanics of a SimpleSwap Swap
A swap moves through five checkpoints: you pick the pair and rate type, enter your address, send the deposit, and the routed asset arrives once confirmations clear. No account is needed for most crypto-to-crypto swaps, and nothing sits on the platform in between.
The Five Checkpoints
Fixed vs. Floating, Which One Actually Saves You Money
Neither, reliably. The difference is what you're trading for what.
| 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 in advance; set at the moment of execution | Tighter spread, but the final amount can land above or below the quote |
For a routine conversion, the gap between the two is usually small enough to come down to preference rather than real savings.
Account & Verification
| Sign-up | Not required for most crypto-to-crypto swaps |
| Optional account | Adds a Loyalty Program, swap history and rate alerts |
| Fiat purchases | Routed through third-party payment partners, which apply their own KYC checks |
| Compliance review | A specific transaction can be flagged for extra verification if it trips AML screening, regardless of payment method |
What to Watch For
None of these are dealbreakers. They're just where responsibility sits with you, not the platform.
- Timing
Confirmation speed depends on the blockchain being used, not on SimpleSwap. Busy networks take longer during congestion.
- Address
A wrong address, or the wrong network for a multi-chain asset, can't be reversed once the transaction confirms.
- Rate
A floating rate can move against you between quote and execution. Fixed avoids that, at a slightly wider spread.
- Review
A small share of swaps get flagged for a manual compliance check, which pauses the order until it clears.
- Fees
There's no itemized fee line. Routing costs and margin are bundled into the quoted rate.
See what reviewers say
Ratings, real user quotes and outside coverage.