In this article I will be telling you about everything there's to know about SwapSpace that will help you to leave your current exchange platform and move over, nah run towards SwapSpace !
Without further adieu, let's begin the journey, that is SwapSpace!
Intro
So what is SwapSpace ?
SwapSpace is a cryptocurrency exchange aggregator which has integrated exchange services from top 14 instant exchanges. It went public in the summer of 2019 an is created by crypto enthusiasts who came from all over the world. The motto of the company is to save time of their users by interacting with the 14 exchanges and bringing best rates to you. SwapSpace is headquartered in Marshall Islands and provides round the clock customer support services via email and chat options. It also helps that they have different support line for their different exchange partners, making issue resolution seamless and time saving.
Why to choose SwapSpace ?
Now one does not need to go to every individual exchange he/she is aware of and try their conversion rates. This also supremely helps newbies who may not even be aware of many different exchanges. They previously may have had relied on their limited knowledge and incurred losses after paying higher fees or after receiving lower exchange rates. SwapSpace does all this for you!
It gives you the comfort of choosing the best possible rate from all the available options. By using SwapSpace you choose the rates and not the exchanges for you. This for me is 'the' biggest advantage of using them.
There are, however, other features & positive points that helps users make informed decisions,
SwapSpace has arguably the widest possible availability of crypto currencies to exchange and supports conversions of more than 500 crypto currencies and 100,000 exchange pairs on their platform.
No personal information is needed to have access to their services, nada zilch!
Thus, no pre approved KYC is required to be done to be able to convert a higher amount. However, they do specify that in certain cases their partner exchanges may require KYC checks to be undertaken.
Non-custodial exchange setup. The custody of your crypto currency remains with you as you don't need to park/store money with SwapSpace unlike many other exchanges.
No maximum limit to swap your cryptos, minimum limit too is as low as $2.
Zero additional fees! Yes you read it right, SwapSpace charges no extra fees to use their service. It instead charges its partner exchanges on per order basis.
It provides both fixed and floating rates for any amount. Unlike other exchanges for example changelly which only enables fixed swaps only above a minimum amount. Remember floating rates can change from the time you initiate the swap and to the time the assets reaches your wallet. In fixed rates option rates will get locked for 10-15 minutes, if you choose to swap after this time limit you will get new rates.
SwapSapce API makes it easier for you to integrate it with any of your existing applications to swap your cryptos.
Last but not the least, now users can see the ratings of the exchanges along with the rates on the same screen and decide accordingly. In addition it doesn't hurt that SwapSpace has a rating of 4.4 itself on Trust Pilot.
Earn by using SwapSpace
In addition there are 3 very good features available on SwapSpace using which you can even earn a profit!
Affiliate program - You can share a referral link with your friends or subscribers or integrate SwapSpace into your service via their API. In both cases, you will get 50% of the revenue share. For this you need to register first on their platform.
YouTube Program - You can earn up to $66 by joining SwapSpace youtube program ! Create a video explaining the swapping process on SwapSpace and earn in crypto. The requirements for being a part of this program are here.
Airdrops - SwapSpace also provides opportunity to claim some free crypto currencies via their air drop page. Choose any of the active air drops, perform the related tasks, and get your free crypto!
How to Use SwapSpace
The interface of SwapSpace is clean and super easy to use.
- After you open their page, you will see the below screen. Enter the currency and amount you want to swap and click 'View Offers'.
- It will then show you all the available offers for that swap (as high has 20+ offers!), including both fixed and floating rates. Check the trust score for the partner and choose the best available rate and move forward.
- Next step is to enter the recipient address. SwapSpace also provides the option to put in your 'refund address'. Your assets will be returned to this address incase of any failures due to overloads or if their partner received the coins through a network that they do not support. You will also be able to track your swap through their status feature on the right corner.
- The last step is to transfer the assets from your wallet to the recipient address. You can use any wallet of yours' for this step. The screen will look as below. You can see how much time you have left to complete the transaction and your Exchange ID on the right. Note down this ID for any emergencies as you will need to provide it to the support team.
- That's it you are done! SwapSpace says that transactions may take anywhere from 5-60 minutes to complete and to receive the assets in the destination (recipient address). In very small cases it may take longer than that, it depends on the congestion on the network.
Important points to remember!
The swap process is fairly straight forward and intuitive but there are few points that should be remembered while doing your transactions. So that you don not mistakes which may lead to loss of funds or additional charges.
Always send the same amount of coins/ tokens for which the exchange was created. The transaction will be reversed if the actual amount is less than the available minimum for exchange. If the actual amount is even less than the available minimum for refund, you will need to send extra to cover the network fees.
If the coins are sent in another network, this can lead to a loss of funds. For example, while choosing MATIC only use ERC-20 network, if you choose Matic Mainnet the coins will be lost.
In case of the ongoing technical issues in your chosen network for swap you may be asked to provide an address from another network to complete your swap.
Lastly, SwapSpace is still a relatively new platform, thus there are few teething problems which may arise here and there. But be rest assured that their support team will help with each and every case.
Final Thoughts
Previously I was using different platforms, sometimes even more than two to swap my assets from one address to another. Doing this was foolish and I was paying fees twice, but as there was no alternative I had to endure the process. SwapSpace has swooped in and resolved many a problems associated with crypto swaps. Their model is simple and speed of exchange is also good. Plus every transaction on it saves you money (no fees and best available rates). Hopefully, they will continue to add more currencies and altcoins, making lives further easier for users.
Affiliate link to SwapSpace
You can use the below link to carry out your swap. This is my affiliate link and will provide me with part of the revenue. I leave it to you.