Question 1

What is SimpleSwap?

Accepted Answer

SimpleSwap is a user-friendly and reliable instant service for cryptocurrency exchanges. It is easy-to-use and free from sign up platform that offers exchanges of more than 300 cryptocurrencies.

There are two exchange types on our platform: floating and fixed rate. You can always choose the most suitable option.

Moreover, SimpleSwap offers its customers and partners an Affiliate Program and SimpleSwap Coin that works as a Loyalty Program.

The support is available 24/7 and provides quick and professional help.

Question 2

How does SimpleSwap work?

Accepted Answer

The SimpleSwap trading system is integrated into the largest cryptocurrency stock exchanges. There is no deposit storage, only instant coin exchange on our service. So we are able to find the most profitable exchange rate for our customers in a very short time.

Question 3

Why should I trust SimpleSwap?

Accepted Answer

SimpleSwap is a project created for the convenience of customers. Our users don’t need to create accounts or store deposits on our service. Thanks to this, the customers are protected from any kind of financial theft. We provide the best rates comparing a wide range of reliable trading platforms.

Question 4

What is a cryptocurrency wallet address?

Accepted Answer

A crypto wallet is an alternative to a physical wallet, which exists only in a digital form. Such wallet is responsible not only for the safety of your coins, it also includes private and public keys that are necessary for conducting the transactions. Each wallet contains information about the availability of user’s coins.

A private key is a kind of password that looks like an alphanumeric string. You need the private key to access your wallet. This information must be private and well-protected. Don’t show or send your private key to anyone, no one should ask you to do this!

A public key is a wallet address. It looks like an alphanumeric string too. The wallet address is provided to other users. It is used to receive cryptocurrency.

Learn more about cryptocurrency wallets here .

Question 5

How do I get a cryptocurrency wallet address?

Accepted Answer

To get your own cryptocurrency address we recommend visiting the official site of the coin you are interested in. Usually, every coin has an official wallet or a list of recommended wallets. Be careful choosing a wallet and try not to use an unverified service in order to avoid the loss of your coins.

Question 6

What is the recipient’s address?

Accepted Answer

Let’s assume you have Bitcoin and you want to buy Ethereum. The recipient’s address is the wallet address to which ETH will be sent after the exchange. Each cryptocurrency has its own address type. When you enter the recipient’s address make sure you use the correct coin address

Question 7

What is a transaction hash?

Accepted Answer

Each new transaction committed by users in the blockchain has its own unique ID number (or a transaction hash) that is assigned to the operation and will be stored in all the subsequent new blocks. Using this ID you can view the details of your transaction in the network. The transaction hash is usually displayed as “tx ID” in your wallet.

Question 8

How to cancel a cryptocurrency transaction?

Accepted Answer

When a transaction is included in the blockchain, it becomes irreversible. Unfortunately, no one can cancel the transaction. So you have to be extremely careful and re-check all the data you entered before confirming the exchange.

Question 9

What are network fees?

Accepted Answer

The network fee is a commission that miners take to include your transaction in a block. Be careful and set up a sufficient amount of the network fee to complete your transaction successfully.

Question 10

What is Exchange ID?

Accepted Answer

Exchange ID is a unique number of your exchange that contains alphanumeric characters. Exchange ID allows you to keep all the information about the swap and follow the stages of exchange. Contacting our support team, it is recommended to provide the Exchange ID to speed up the process of finding your exchange in our database.

Question 11

Where to get Exchange ID?

Accepted Answer

After you press the ’Exchange’ button during the exchange creation, you will be provided with an Exchange ID in the browser address bar. For example, https://simpleswap.io/exchange?id=rm3UipCYpn. The Exchange ID is rm3UipCYpn. You need to save this link to be able to return to your exchange data.

Question 12

What is a floating rate exchange?

Accepted Answer

A floating rate exchange is a classic cryptocurrency exchange type when the approximate receiving amount is shown at the time of the exchange creation. You can get either more or less coins than expected at the beginning of the floating rate exchange due to the volatile nature of the cryptocurrency market.

There are no restrictions for floating rate exchanges: you can make swaps for any amount of cryptocurrencies without strong limits of time for sending the deposit.

Question 13

What is a fixed rate exchange?

Accepted Answer

A fixed rate exchange is an exchange that allows you to receive exactly the estimated amount. The fixed rate exchange is independent of the market volatility. This means that changes in the coins rates do not affect the fixed rate exchange.

When you create the fixed rate exchange you have 20 minutes to send us a deposit. There is a time limit because of the fact that the coins rates can change at any time, so we are exposed to huge risks. However, we can guarantee the invariance of the amount you receive within 20 minutes from the exchange start.

Question 14

When should I choose a fixed rate exchange?

Accepted Answer

If you do not want to take risks and worry about the quick change of the cryptocurrency rate, then fixed rate exchanges will suit you. This way you can protect yourself from any fluctuations in the received amount.

In addition, we have achieved great success in the speed of fixed rate exchanges. It usually takes a little time from the moment of the deposit receipt to send the coins to the customer. It is very valuable that fixed rate exchanges are performed faster.

Question 15

What are the differences between a fixed rate exchange and a floating rate exchange?

Accepted Answer

During a floating rate exchange there is a possibility that the cryptocurrency rate may change for the worse or for the better. Thus, the amount you receive may also change - you can get either more or less coins than expected at the beginning of the exchange.

During a fixed rate exchange nothing can affect the amount you receive which was shown to you initially. These exchanges are protected from rate fluctuations and any market changes.

There are no restrictions for floating rate exchanges. However, setting upper limits is a necessary measure for fixed rate exchanges since we take all the risks of cryptocurrency volatility and this risk grows as the number of coins rises.

Question 16

Is a network fee included in the final amount at a fixed rate exchange?

Accepted Answer

The SimpleSwap system cannot know in advance which network fee will be taken from a specific transaction by coin’s blockchain. Therefore, it is impossible to display the amount you receive with the inclusion of the network fee. However, the coin’s network fee is usually so small that they almost do not differ from the amount that was shown initially. Thus we allow ourselves to say that you get exactly the amount that was displayed at the beginning of the exchange process.

Question 17

How long does it take to exchange coins?

Accepted Answer

The coin exchange time usually varies from 5 to 60 minutes. There are rare occasions when more time is needed. The processing speed depends on how long it takes for a block to be included in the network. Most operations are proceed in just a few minutes.

Question 18

Why does my transaction take so long?

Accepted Answer

The cryptocurrency exchange time varies from 5 to 60 minutes. However, sometimes a transaction takes more time, this could be due to a number of factors:

Overload of the blockchain
Periodical coin updates
A certain number of confirmations is required to continue the exchange

Question 19

Why is the final amount of coins different from the estimated one?

Accepted Answer

Our service chooses the best available exchange rate. In case you have chosen a floating rate exchange, the rate during the transaction may slightly differ from the estimated rate due to the high volatility of the cryptocurrency. So the coin rate at the time of the exchange can both grow or fall.

You can choose a fixed rate exchange in order not to worry about a possible change in the cryptocurrency rate.

Question 20

What is the minimum amount of exchange?

Accepted Answer

The SimpleSwap doesn’t have limits for cryptocurrency exchanges. However, the network fee is charged by the blockchain for every transaction to be performed. So the sent amount must be sufficient to cover all the network fees.

Question 21

What is the maximum amount of exchange?

Accepted Answer

SimpleSwap does not have any limits for floating rate exchange. It means that you can swap as many cryptocurrencies as you want.

Question 22

Is there the KYC/AML procedure on SimpleSwap?

Accepted Answer

Our customers don’t need to create accounts or store deposits at SimpleSwap. However, there are exceptions. SimpleSwap collaborates with a number of partners who, according to their risk assessment and European AML (anti-money laundering) directives, can request a photo of a valid ID and information about the origin of your coins. This is only necessary to make sure that your coins are not subject to illegal activities, such as theft, money laundering, and any other criminal operations.

When we receive the necessary materials, we complete the exchange, and the funds are sent to the specified recipient wallet address.

If the customer does not want to go through the KYC procedure, the funds will be immediately refunded to the customer at the original address. We are ensured that the retention of the customer’s coins is unacceptable.

Any exchange will either be completed or the coins will be returned back to the customer immediately.

Find out detailed information about the KYC procedure rules on SimpleSwap in the article https://simpleswap.io/blog/the-kyc-procedure-on-simpleswap.

Question 23

What are the commissions?

Accepted Answer

We do not use classical %. We offer customers a certain rate that we get on the basis of market analysis. If the exchange is finished for a better rate than it was expected we get a small profit.

Question 24

About the SimpleSwap Affiliate Program

Accepted Answer

An Affiliate program is a feature for our partners. The program provides you with a unique opportunity to earn up to 90% revenue share for each exchange made via SimpleSwap.

We offer several ways to make a profit with us: use a referral link on your content or integrate the SimpleSwap platform on your service. We provide a convenient integration of our API and widget accompanied by our assistance. You can get a referral link and widget in your partner account.

We welcome new partners and opportunities. Share your issue and we will find a way out exactly for your situation.

Question 25

Why should you become our partner?

Accepted Answer

We are always open to new ideas and have a lot of unique features and benefits in our service:

1. Variety of coin swaps
SimpleSwap supports more than 300 coins available for exchange

2. Wide search for the best rates
The SimpleSwap trading system is integrated into the largest cryptocurrency stock exchanges to find the most profitable exchange rates in the shortest time.

3. Limitless exchanges
There are no restrictions for an amount of coins to exchange. It’s possible to swap as many cryptocurrencies as you want.

4. Fixed rate exchanges
Changes in the coins rates do not affect the fixed rate exchanges. In this case, you receive exactly the estimated amount of coins. We take all the risks of cryptocurrency volatility.

5. Reliable exchanges
We don’t have any mass system failures. 99% of the time SimpleSwap is ready to go.

6. 24/7 support
Our friendly and skilled support team will help you out anytime you need it.

Question 26

How can you make a profit with SimpleSwap?

Accepted Answer

You can find several ways to get profit together with SimpleSwap. Take a look at the whole list of options mentioned below.

1. Integrate exchange flow
We provide an API for the integration of two types of exchanges: floating rate and fixed rate. Our API is transparent and easy to use - check it right now.
Read API Doc: https://api.simpleswap.io

2. Add an exchange service to your site
Set up the SimpleSwap widget, button or referral link on your website and make a profit in BTC for every exchange.

3. Referral program
Do you have a large audience? Invite your audience to SimpleSwap for making an exchange and get reward for each attracted customer.

4. Tailor-made solutions
We offer solutions for those who want to connect their business with the Crypto World but don’t know how to do it. We will find the decision that suits you best.
Contact us: hello@simpleswap.io

Question 27

How to become a SimpleSwap partner?

Accepted Answer

Go to the ‘Affiliate Program’ section;
Enter your email address in the required field;
Click on the ’Sign up’ button;
Enter your name;
Create a password for your affiliate account. Do not forget to keep your password in a safe place, it will come in hand;
It is necessary to read and agree to our Terms of Use before creating the account. If everything suits you, please tick;
Tick that you are not a robot;
Click on the ’Create my account’ button;
Check your email for a verification link;
Click on the link to activate your affiliate account.

That’s it! Just take a few simple steps to become a member of the SimpleSwap Affiliate Program.

Question 28

How to log in to your affiliate account?

Accepted Answer

You should follow the simple steps to use your account:

Go to the ‘Affiliate Program’ section;
Select the ’Login’ option;
Enter your email address;
Enter your password;
Click on the ’Enter’ button.

That’s it! Enjoy using the SimpleSwap affiliate program!

Question 29

Affiliate links and API keys

Accepted Answer

You get one affiliate link and one API key when creating an affiliate account. You can copy your affiliate link or API key in a convenient way by clicking on the appropriate icon.

If you need an additional affiliate link or API key, you can create it by clicking on the appropriate icon. You can create as many affiliate links and API keys as you need, we have no restrictions.

In case you no longer need any of your affiliate links or API keys, you can delete it by clicking on the appropriate icon.

Feel free to contact us for any questions that you might have via support@simpleswap.io.

Question 30

Password Recovery Procedure

Accepted Answer

Don’t worry if you forgot your affiliate account password. You can recover your password in just a few steps:

Go to the ‘Affiliate Program’ section;
Select the ’Login’ option;
Select the ‘Forgot your password?’ option;
Enter your email address so that we can send you a password recovery link;
Tick that you are not a robot;
Click on the ‘Submit’ button;
Check your email for a link to reset your password;
Click on the link to set up a new password for your affiliate account.

Question 31

How to change your current password?

Accepted Answer

If you doubt the security of your password or want to replace it with a different one, you can always change it in your affiliate account.

Follow the simple steps to set a new password:

Click on the ‘Change password‘ button;
Enter your current password;
Enter a new password;
Confirm the new password;
Tick that you are not a robot;
Click on the ‘Change password‘ button.

FAQ

About SimpleSwap

Cryptocurrency transactions

Exchange process on SimpleSwap

SimpleSwap Affiliate Program