SimpleSwap Review

SimpleSwap is an instant crypto exchanger that routes swaps through more than 20 exchanges and liquidity providers, rated in our instant exchanger ratings. It scores 5.4 out of 10. Rate options carry the score; an unquantified fee, an unnamed operator and terms that charge to release frozen funds or recover a refund pull it down. The basis is desk research of SimpleSwap's terms, FAQ and AML/KYC policy, read on 1 November 2026; we did not run swaps.

How SimpleSwap scores in instant exchangers

Every exchanger is marked on the same five criteria, each from 0 to 10 and each with equal weight, under our ratings methodology.

The overall score is the plain average: (3 + 9 + 7 + 6 + 2) ÷ 5 = 27 ÷ 5 = 5.4.

Two marks changed at this check, lowering the overall score from 6.2 to 5.4. Custody and KYC fell from 9 to 7 after the terms in force since 7 September 2026 added a fee to release frozen funds and a right to refuse their return. Refund policy fell from 8 to 6 because the same terms make most refunds a support request of up to 31 days, with recovery and storage fees.

Strongest criteria: rate choice and when checks apply

Rate options (9). Both modes are documented with their trade-offs. A fixed-rate exchange "locks the exchange rate for 20 minutes", and the deposit needs at least one blockchain confirmation inside that window. If it arrives late and the rate has moved, the terms say the exchange may be marked Failed and then refunded or completed at the new rate. A floating-rate exchange uses the market rate when the swap is processed, so the final amount can be higher or lower than the estimate.

Custody & KYC (7). No account is needed for most crypto-to-crypto swaps, and the FAQ describes SimpleSwap as "a self-custodial crypto swap service" that holds no ongoing balance for you. It also says when identity checks apply: when SimpleSwap or a partner system flags a transaction as suspicious, or when compliance rules require it.

What happens after a flag is why it is not a 9. The AML/KYC policy (updated 30 October 2025) says verification-free swaps are available only in low-risk cases and that checks can extend to source of funds, source of wealth and a live face scan matched against a government ID. Section 8.2 of the terms, in force since 7 September 2026, lets SimpleSwap freeze funds suspected of illegal activity and charge 1% of the returned amount, with a $100 minimum, to release them, or refuse to return them. On a $500 deposit, that minimum is 20% of the amount. Your deposit also sits at an address SimpleSwap controls until the swap settles. A peer that states the same custody and KYC rules without a release fee scores 9; the fee and the right to refuse return take two points off.

Refunds: written down, but conditional and fee-bearing

Refund policy (6). The FAQ says that when a compliance check stops a transaction, "the funds are automatically sent back to the refund address." Outside that case, refunds are requested through support and processed within up to 31 calendar days. The terms list deposits that are generally not refunded: the wrong asset or network, an expired fixed-rate order, a missing memo or tag, and amounts below the minimum. A recovery fee and network fees may be deducted. Funds left unclaimed for more than 90 days may incur a storage fee of 5% of the original amount per month, and recovery is not guaranteed after one year. The policy is detailed and written down in advance, which keeps it above the middle of the scale. But the automatic return covers only compliance stops; a below-minimum deposit, which peers refund as a matter of course, is generally excluded here, and recovery can carry fees. That is why it scores below the 8 and 9 given to peers whose refunds are automatic or guaranteed.

Weakest criteria: deficiencies, not gaps in measurement

• Fee transparency (3). The FAQ says there is "no separate percentage trading fee shown on top of the rate"; the margin is inside the quote and dynamic. It does give floors: crypto swaps "may start from 0.2%" for some assets and fiat purchases from 0.5%. A starting point is not a published fee, so you cannot tell from the documentation what a given swap will cost. Our guide to where exchange fees hide explains how to compare receive amounts instead.
• Entity transparency (2). The terms of service, the privacy policy (in force from 10 July 2026) and the about page refer to the operator only as "SimpleSwap". None gives a registered company, address, registration number or governing law. The George Town, Cayman Islands address cited in the earlier version of this review no longer appears in the terms.

What the score does not cover

The criteria grade SimpleSwap's disclosures, not its execution. The score does not measure the actual margin on a pair, which of the 20+ providers fills a given swap, completion times or support quality, none of which we tested. Coin coverage, card purchases through third-party providers and the loyalty program are also outside it.

Availability is a bigger limit than any criterion. Section 4.3 of the terms lists locations where the service "may not be available", including the United States and its territories, the United Kingdom and all 27 EU member states, as well as China, India and Japan. The list is stated to be non-exhaustive.

SimpleSwap vs ChangeNOW and Changelly

Both peers rank above SimpleSwap, which is seventh of eight at 5.4: ChangeNOW is fourth at 7.0 and Changelly fifth at 6.4. SimpleSwap scores highest of the three on rate options (9, against 8 for both), and all three score 7 on custody and KYC. It trails Changelly on fee transparency (3 against 7, where Changelly publishes a floating-rate fee), ties ChangeNOW there at 3, and trails on refunds (6 against ChangeNOW's 9 and Changelly's 7). On entity transparency SimpleSwap's 2 sits below Changelly's 3 and ChangeNOW's 8. Entity transparency and refunds account for the 1.6-point gap to ChangeNOW; fees account for most of the 1.0-point gap to Changelly.

Who it suits

SimpleSwap's score fits a user in a country where the service is offered who wants a choice between a 20-minute fixed rate and a floating rate, and a written statement of when identity checks apply. Anyone who needs a known fee before sending, a refund without fees, or a named company to hold responsible if a frozen deposit is disputed, should weigh the fee, refund and entity marks first. Residents of the US, UK and EU are listed as locations where the service may not be available.