The Truth about Swapspace

By BluberyCake | Everything&Anything | 25 Jul 2021


By this point, there have been way too many articles detailing the ins and outs of SwapSpace and I'd be surprised if someone here didn't know what it is by this point. There's also the fact that due to this being a competition and connected to the platform, being biased wouldn't be odd. I'll however attempt to do an unbiased assessment.

Through the last few weeks I've been trying it out, seeing how it fares when compared to wallet exchange rates (obviously it was better but it was a question of how better) and whether or not it was actually that much easier than just going to any exchange. There was also the question of just how these transactions would work without KYC and no entering of the actual exchanges.

All of my questions were answered within the first few swaps I did.

When looking at larger currencies like BTC/ETH/ADA... the differences between exchanges were quite substantial and there were no hidden fees as they advertised. When it came to coins with a smaller market cap there was of course a lack of diversity when it came to the number of exchanges and with that the rates as well, this is to be expected and not really a flaw. As the site grows it might include more exchanges that support smaller coins so over time even this will get better. It's also important to note that wallet exchanges were destroyed by SwapSpace as it won by a mile so no flaws there.

The simplicity is also there, you put in the coins you wanna exchange, it shows you all the rates, you choose which one you want and than the process itself starts.

You declare the wallet where you want to receive the assets and than you send it to a wallet address they show you. It does take a bit to process but I honestly never minded that, it can be an hour at times so if you want instant exchanges than you might not find this ideal.

The entire process really is smooth and easy so it's definitely very friendly for newer users 

KYC wasn't necessary for any of my exchanges either but it might be for some of yours. There was also no entering of the exchange sites themselves which is awesome imo as i dreaded having to make accounts for each and than KYC and whatever else they required. A good feature for the future would be making DeExchanges separate in some way to CeExchanges.

As a conclusion, SwapSpace is legit, absolutely and completely legit. It's promises are all fulfilled and the features it offers do truly make life easier for the ones using it. Definitely try it out if you're still skeptical, there's not much to lose especially if you're only testing it out. You could also test it a bit out without even sending as the process before sending is also important.

Hope you enjoyed the read and the advice!

 

 

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BluberyCake
BluberyCake

An artist, book maker, feminist, cutie, potato


Everything&Anything
Everything&Anything

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