Another Swapping platform?

That's what I absent-mindedly thought as I went through my emails. What would they have to offer? Not a lot when there are enough options to swap, buy and trade cryptocurrencies, I thought. Nonetheless, I followed the SwapSpaceExplained contest link, pondering if I should participate. I had DEx's like Uniswap, Sushiswap, Pancakeswap, and their likes in mind as I vaguely gleaned the information on the website. Read on to see what I found out.

What is SwapSpace?

That is the primary question to ask. I realized that it wasn't a DEx but an instant cryptocurrency exchange aggregator.

What does that mean?

Unless you buy Bitcoin, Ethereum, BNB, or one of the top coins, buying your favorite altcoin is quite taxing. It is particularly true if you are a novice starting in the crypto space. SwapSpace provides an answer to this problem by giving you a bevy of options to choose from at the best price. The user score helps decide which partner to choose. You can then pick between a fixed or floating rate and conduct the trade - Easy-peasy! No more jumping from one platform to another searching for a suitable pair or a decent exchange rate. Conduct cross-chain trades without any worry! I couldn't wait to find more.

What are the benefits of SwapSpace?

• A quick comparison of different exchange rates,15 instant exchanges that offer more than 450 cryptocurrencies with 100,000 trading pairs.
• Fixed and floating rates. Settle the payment at a fixed price in a given window of time and get peace of mind by avoiding market fluctuation. If you don't mind this variation, you can pick a floating rate.
• No additional fees to pay besides the fees paid on partner platforms.
• No maximum cap for swaps, although a minimum amount applies to ensure network fee coverage.
• 50% affiliate earning of SwapSpace's share, either on swaps through your referral or by integrating their API into your service.
• Airdrops for a range of cryptocurrencies and tokens and a cryptocurrency wallet.
• 24/7 support.

Sounds great! Do I need an account to use their services?

No, not at all. There's no account required as it's a non-custodial exchange which means that SwapSpace doesn't hold your assets. There is no need to provide any personal data, do any KYC or jump through hoops to use their service. 

The proof is in the pudding!

Swapspace sounded great on paper. I wanted to find out if it worked as advertised. I've been through pain in the past with multi-wallet transactions for certain altcoins. If this worked, then I had a resolution to my woes. I had some ETH in my wallet. Feeling bold, I landed on their Swap service.

My SwapSpace Experience

Surfing a few options, I zeroed in on Dogecoin simply because I did not want to spend more than I had to for this experiment and the minimum eligible quantity for Dogecoin fit the bill. As soon as I entered the amount, I got a range of alternatives. I went with the first one on the list as it met my transaction threshold, had a rating of 5 stars, and had enough users to give me the confidence to proceed. 

Moving on to the next step, all I had to do was enter the destination wallet to receive the funds and initiate the transaction. That took me to the 'awaiting payment' stage with the wallet address to send the payment. An onscreen notification told me I got 30 minutes to complete the transaction. Soon, the order went through with the Dogecoin balance credited to my wallet. 

Pros:

• Ease of Use: No login or KYC is required to make a swap. That made the experience super quick and frictionless.
• Process: It truly is a simple 4 step process as detailed in their user guide.  
• Fast and reliable: The complete process took about 20 minutes tops. I did not even have to connect my wallet and had the convenience of tracking the progress on the website! 
• Exchange Pair Options: This is an important one - As a trading pair, ETH/Doge has limited options. In different circumstances, it would've meant doing multi-wallet transactions incurring high fees. The other option would have been to take whatever offer was available. As a result, this could have turned into a purchase larger than intended at undesirable rates. Instead, I was able to get a good deal and conduct this swap in a single transaction. Personally, this is a winner for me.
• Best rates: The offers get better with big trades. For smaller ones, the benefit lies in the tradeoffs of making straightforward transactions against having to cough up huge sums when making risky investments.

Cons:

• No fiat on-ramp: You have to use another service for your initial buy. The roadmap suggests they intend to offer it down the line.
• SwapSpace doesn't have a mobile app: If you make transactions on the go, this may be a drawback for you.

Final verdict:

I had started tentatively when I first read about  SwapSpace. Yet, as I finished my analysis, I was nothing but positive. SwapSpace gave me the best trading rate, easy pairing selection, and flexibility of making a big or small purchase as per my convenience. It delivers on its promise of saving time by keeping a straightforward task as uncomplicated as possible. It's a fantastic DeFi solution that makes cryptocurrency onboarding easy and accessible even without technical know-how.

If you use SwapSpace to make a trade after reading this review, consider using my affiliate link here. I will receive a commission at no additional cost to you.

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