SimpleSwap: What It Is and How the Crypto Swap Service Works

SimpleSwap does not name the company behind it in the documents reviewed. The Terms of Service in force since September 7, 2026 describe the provider only as "SimpleSwap." The Privacy Policy and AML/KYC policy do the same ¹¹¹¹⁴. The footer dates the brand to 2018 ¹³. If you need a contractual counterparty, for example for a dispute or a tax record, the terms list [email protected] for general questions and [email protected] for frozen funds ¹¹¹. Ask either address which entity you are dealing with.

A SimpleSwap order follows a fixed path ¹²³:

1. Create the order. Choose the pair, the amount, fixed or floating rate, and your recipient address. Some coins also need a memo or tag, and you can add a refund address.
2. Deposit. Send the coins to the deposit address created for that order. Use it once only. SimpleSwap does not guarantee a refund for a second deposit to the same address ².
3. Exchange and send. After network confirmations, SimpleSwap carries out the swap with a liquidity provider and sends the proceeds to your address ².

The order page shows each stage: Awaiting deposit, Confirming, Exchanging, Sending, Finished. It can also show Failed, Verifying, Expired or Refunded ¹. A "Verifying" status means a compliance check, and the terms ask you to contact support right away ¹. A normal swap takes a few minutes, but slow blockchains can stretch that ¹.

Fixed rate. The quoted rate holds for 20 minutes. Your deposit must arrive and get at least one confirmation in that window. A late deposit goes through at the original rate if the rate has not changed. Otherwise the order fails, and you can take a refund or accept the new rate ³.

Floating rate. You see an estimate, and the final amount moves with the market. There is a minimum deposit but no fixed time limit or maximum. If the final amount differs a lot from the estimate, SimpleSwap may pause and ask whether to refund or proceed ³.

SimpleSwap is not a decentralized exchange. Trades do not settle through a smart contract you control. They go through SimpleSwap and its providers. For the general difference, see CEX vs DEX.

SimpleSwap does not publish a percentage fee. Its terms say pricing "does not revolve around a traditional percentage fee." Instead, the rate you are quoted already includes SimpleSwap's margin and an estimated network fee ⁴. In practice, compare the final amount you will receive, not the headline rate. See network fees for why that part varies.

Other costs to know:

• Loyalty discount. Users who sign up can get up to 20% off the service fee and up to 0.4% cashback in USDT, depending on level. Cashback generally does not apply to fiat purchases ¹².
• Refund costs. Network fees for a refund can be deducted. A recovery fee may apply in some cases ⁷.
• Frozen-fund returns. If funds are frozen as suspicious and later returned, SimpleSwap charges 1% of the amount, with a minimum of $100 ⁸.
• Card purchases run through third-party services, which may charge their own fees ¹¹⁰.

Most swaps need no account and no ID. That "no KYC" approach applies only to transactions SimpleSwap classifies as low risk ¹¹. Under its AML/KYC policy, updated October 30, 2025 ¹¹:

• every transaction is screened with blockchain analytics;
• flagged transactions can be frozen while under review;
• SimpleSwap may require KYC on any transaction. Checks can include ID, PEP status, source of funds or wealth, and a live selfie check against your document.

Separately, the Terms let SimpleSwap freeze funds suspected of links to crime. It may then require documents before returning them, or refuse to return them ⁸. Fiat purchases through third-party providers follow those providers' own KYC rules ¹⁰.

The Terms list restricted locations that include ⁵:

• the United States and its territories and the United Kingdom;
• all 27 EU member states, each listed by name;
• Japan, China, India and Colombia;
• sanctioned or high-risk places such as Iran, North Korea, Syria, Myanmar, Venezuela, and the occupied regions of Ukraine.

Users must be 18 or older. They must not be politically exposed persons or sanctioned parties. Using a VPN or other IP-masking tool is prohibited ⁵. Accessing the service from a restricted location can lead to a suspended order ⁵.

SimpleSwap says it is non-custodial. It does not keep account balances and holds funds only when legally required ¹. During a swap, though, your coins sit at a SimpleSwap-assigned deposit address and pass through a provider SimpleSwap chooses ². You are trusting SimpleSwap to finish the order.

Refunds are limited ⁷:

• Orders already confirming, exchanging, sending or finished are generally not refundable. SimpleSwap may review exceptions case by case.
• There is generally no refund for sending the wrong coin or network, leaving out a required memo, or sending less than the minimum.
• Refund requests can take up to 31 days. You may have to prove you own the deposit.
• SimpleSwap holds unclaimed funds for at most one calendar year.

SimpleSwap's liability is capped at the fees you paid in the previous three months ⁹. It also warns that it is not responsible for funds sent to phishing copies of its site. Check the domain is simpleswap.io ⁷. See fake crypto exchanges.