SwapSpace Review: A Bouquet of Cryptocurrency Exchanges

By Karo | Cryptominions | 25 Jul 2021


As the crypto space evolves and its associated technology becomes a reality, more exchange-based project spring up either as a custodial or non-custodial exchange. Cryptocurrency Exchanges fall into either a Centralized Exchange (CEX) i.e., Binance, Kraken or Decentralized exchange (DEX) i.e. Uniswap, Pancakeswap.

However, can such an exchange really be trusted?

In this SwapSpace review, I will attempt to answer that with an in-depth analysis of the features, benefits and potential long-term adoption.

 

Enter SwapSpace!

SwapSpace Ltd was founded in 2019 and hence has been around for over 2 years with a registered address in Majuro, equatorial pacific Marshall Island (located between Australia and Hawaii). SwapSpace Exchange is an instant cryptocurrency aggregator with a number of features that makes this project stand out in its own right within the niche it caters for.

Over the past years, the crypto space has struggled with keeping privacy and been anonymous intact for its users hence the advent of privacy coins and the like. Furthermore, as the call for regulation increases in the form of AML/KYC (Anti-money Laundering/ know-your-customer), one would agree that the discomfort created by this procedure is timing consuming as well as troublesome due to the security risk associated with some of these procedures such as data hack or breach.

Enter SwapSpace; a swap platform that is void of AML/KYC procedure and allows you to instantly trade coins(assets) at the best price irrespective of their native blockchain. It simply displays a current asset price snap shot from the 15 participating partners in a descending order of best asset price. However, users can decide not to use assets price as the deciding criteria but the reputation or familiarity of the partnering exchange irrespective of the value of the displayed asset price.

Is SwapSpace Safe?

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The question of how safe are Instant swap exchanges are is a little watered down due to the fact that they are non-custodial (do not hold on to your crypto assets over a period) but a sense of disquiet calm engulfs first time users until they are able to trust and proof the system themselves. It is predominantly a pass-through system with a lot of flexibility and option that allows for better decision making in terms of crypto asset exchange. The partnering exchange reputation bolster SwapSpace’s reputation. Customers are also protected from phishing and other social data gathering process due to the fact that your personal data is not required.

 

Coin Support Asset Coverage

By virtue of the various listed exchanges SwapSpace has a unique feature that should attract trader and crypto enthusiast – this is the wide variety of coins and tokens. They also support different blockchain variants of a coin e.g., USDT (ERC20), USDT (TRC20), USDT (OMNI). You also have an exposure to the 636 crypto assets in the form of coins and tokens.

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Platform Features

SwapSpace user interface (UI) is simple and straight forward – it is devoid of several clicks before accessing the actual input tabs. It consists of an input tab for your asset that you intend to convert and the output value of the asset you want. The view offers two display tabs i.e., for input and output value and a view offer button that initiates the transaction process.

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This button when clicked allows offers from the various exchanges partners to be displayed. The best rates in terms of crypto asset current price are displayed at the top of the list highlighted in yellow, while other information’s such as which exchange partner's , their trust score (this also helps to guide your choice as it reflects the reputation of the exchange partner).

You may decide to filter the output using the floating rate or fixed rate bearing in mind that fixed rate would only be valid for a specified period. Once the Exchange button is clicked, it locks all the input and output values, exchange partner and type of rates on offer.

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The next display page is for the input of the recipient address and refund address (this is pretty assuring), other features are the hot (simple hold) and cold wallet (Trezor) options, assuming that is where the asset is domiciled. Once all the relevant fields are filled, click the next button this initiates the transaction.

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A new page is displayed showing the locked in addresses, crypto assets that is being converted the exchange rate the status indicator the exchange ID, exchange partner, type of rates and a time stamp.

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The exchange ID can be used to track the transaction by copying the value and pasting it in the swap tracker.

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Finally, when the transaction is completed the transaction status bar fully highlighted- a text notification also highlighted in yellow stating the “your exchange successfully completed!” is visibly displayed at the top of the user interface.

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Customer Support

The only customer support option is via email ([email protected]) and there seem not to be a customer support on socials. They are pretty responsive given the fact most crypto entities go through this route.

 

What we (the minions) liked about SwapSpace

We liked the following intangible features and characteristic about SwapSpace:

  • It is non-custodial.
  • Accountless crypto exchange with no KYC/AML requirement.
  • Offers uncompromised privacy with no exposure to phishing /social web analytics.
  • Offers support for separate multiple blockchain native asset swap directly or cross chain exchange.
  • Offers different blockchain variant of a particular coin i.e. USDT (ERC20), USDT (TRC20), USDT (OMNI).
  • Best crypto asset rates at no additional fee.

Conclusion

As we have shown in this review, SwapSpace is an accountless non-custodialcrypto exchange with loads of options to exchange crypto assets in an optimal manner. The best rate for your crypto assets sets SwapSpace apart from other niche players like SwapZone and flyp.me.

So, is SwapSpace crypto exchange for you?

If you are looking for the best rates with no extra fees, anonymity from 15 exchanges all in one place - SwapSpace is the right solution for you.

 

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Karo
Karo

A crypto enthusiast, big on business systems and lover of art!


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