• SwapSpace is a crypto swap platform with its own aggregator.
  • SwapSpace is a great platform for crypto traders thanks to its wide variety of supported cryptocurrencies, reasonable fees and exchange rate, etc.
  • However, there are still some drawbacks such as limited trading options, no mobile app, etc.

SwapSpace is a unique crypto swap platform with its aggregator. The platform aims to make trading cryptocurrency easy thanks to its wide variety of crypto and straightforward processes. However, there are still some significant improvements that need to be made in this app.

In this article, we will look at SwapSpace and its pros and cons.

What is SwapSpace?

Crypto swap platform - SwapSpace | Source: SwapSpace
Crypto swap platform – SwapSpace | Source: SwapSpace

SwapSpace is a crypto swap platform founded in 2019 and has gained popularity since then due to its simplicity, convenience, and excellent customer support. The platform is registered in the Republic of Estonia and complies with all the necessary regulations.

SwapSpace currently partners with some of the most trusted exchanges in the industry such as Binance, KuCoin, 1inch, etc.

SwapSpace Review: Features and Functionality

SwapSpace’s advantages | Source: CryptoNewsZ
SwapSpace’s advantages | Source: CryptoNewsZ

In this section, we will look at some of the features and functionality that SwapSpace offers.

Supported cryptocurrencies

SwapSpace supports over 450 different cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Dogecoin, as well as stablecoins like USDT, USDC, and DAI.

Also, SwapSpace frequently adds new coins to its database in order to stay up with the constantly changing market.

Exchange rates and fees

The reasonable exchange rates and low transaction fees offered by SwapSpace are among its key advantages.

To give users the best prices, the site compares currency rates across a number of partners thanks to its unique aggregators. SwapSpace charges users at a  reasonable minimum charge of 0.5%

SwapSpace is a suitable option for those who wish to exchange cryptocurrencies with minimal costs and without incurring significant value loss.

It is important to keep in mind that fees may differ based on the cryptocurrency being traded and the exchange partner you use. 

Transaction speed

SwapSpace is aware of how crucial transaction speed is in every transaction. Therefore, the platform links customers to exchanges with a lot of liquidity to ensure quick swaps in under a few minutes

You can benefit from SwapSpace’s fast transaction speed to capitalize on price changes. Rapidly changing cryptocurrency prices can cause missed trading opportunities or unfavorable trades due to transaction processing delays. However, SwapSpace’s swift transaction speed mitigates such risks, allowing users to capitalize on profitable trades and optimize their returns.

You need to keep in mind that a number of factors, including the blockchain network’s congestion, the amount being exchanged, and the exchange partner being used, might impact how quickly a transaction completes.  

For example, some users have reported frustrating processing times during congested time, with transactions taking between 10 and 30 minutes.

Security

SwapSpace takes security seriously and uses a number of safeguards to make sure that its users’ transactions are secure. The platform uses non-custodial transactions, two-factor authentication as well as SSL encryption to safeguard user data. 

SwapSpace Review: User experience

User’s review of SwapSpace | Source: Trustpilot
User’s review of SwapSpace | Source: Trustpilot

Ease of use

The SwapSpace platform streamlines the exchange process by allowing users to quickly exchange cryptocurrencies without the need to create an account. If you want to trade cryptocurrencies in an anonymous manner, this can be extremely advantageous.

The platform also provides a user-friendly and intuitive interface, allowing users to exchange cryptocurrencies in just four simple steps: choose a pair for exchange, choose the rate, transfer the fund and wait for the exchange.

Additionally, users can utilize the built-in calculator to estimate the amount they will receive before initiating the exchange, which is particularly beneficial for those looking for the best deal.

Customer support

The dedicated support staff of SwapSpace offers excellent customer service and is available 24/7. In addition to email and live chat, the platform also provides support through social media.

Users can get help from experienced and professional support staff with any problems they could run across while using the platform.

Feedback from users

The platform has received good praise from users for its simplicity, use, quick transaction times, and first-rate customer service. The competitive exchange rates have been cited by many users as one of the key benefits of using the platform.

While there are some unfavorable ratings, most of them relate to problems that SwapSpace cannot control, such as transaction delays caused by network congestion.

SwapSpace Review: Pros and Cons

SwapSpace’s pros and cons | Source: Dash News
SwapSpace’s pros and cons | Source: Dash News

If you are searching for a quick and easy way to exchange cryptocurrencies, SwapSpace is a terrific platform.

It is a great option for many users due to its user-friendly design, support for a broad variety of cryptocurrencies, cheap exchange rates, minimal transaction fees, quick transaction speeds, anonymity, and good customer care.

There are some limitations to take into account, though. Some drawbacks of SwapSpace include:

  • Limited trading options: For experienced cryptocurrency traders, SwapSpace’s limited trading options may be a drawback. Users could not control their transactions because of limited trading options like stop-loss orders or margin trading. 
  • No mobile app: Those who prefer to trade cryptocurrencies on the go may find SwapSpace’s lack of a mobile app to be inconvenient. It restricts accessibility and can put off potential customers who value mobile functionality.
  • Limited payment alternatives: The limited payment options of SwapSpace can be a disadvantage for users who prefer more flexibility. It only accepts cryptocurrency payments, which might be annoying if you want to trade fiat-to-crypto.

Here is the table summarizing all the pros and cons of SwapSpace:

ProsCons
– User-friendly interface
– Wide range of cryptocurrencies – Competitive exchange rate
– Low transaction fees
– Fast transaction speeds
– Excellent customer supports
– Limited payment options
– Limited trading options
– No mobile app
– Relatively new platform

Final thoughts

SwapSpace is continuously proving itself to be one of the fastest-growing platforms in the market. Thanks to its wide variety of crypto, easy-to-use interface, the platform is rapidly growing in number. However, there are still some major drawbacks at present such as the lack of trading options.