Swapzone.io Review – Scam or Not?

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About SwapZone.io

Swapzone is a cryptocurrency exchange aggregator, designed to compare multiple exchange rates and transaction team on the same trading pair. This service combines different sources to give users a handfull of options for their swaps, thus setting an evironment of fairness and convenience to the public.

Swapzone was founded by the company BLOCK BACK LLC in December 2019, in a mission to offer the best deals in the market. The platform subtly introduces the Swapzone team, formed by Elena (Chief Executive Officer), Art (Chief Operating Officer), Nick (Product Manager) and Olya (Marketing Manager).  Its headquarters are in Georgia, Tbilisi, Didube District, Uznadze Str., N 111, Building N2, Apartment N11.

SwapZone verified social media:

Currently, SwapZone is only available in english and does not have a mobile app. There is no need for registration or filling KYC obligations, making SwapZone’s services open for everyone.

Supported Countries

SwapZone’s platform is open for mostly all countries on a global level. Users have the responsability to comply with their local cryptocurrency laws/regulations, which may forbid them -or not- of using the exchange. Unlike traditional instant crypto exchanges, no countries have special payment features.

SwapZone features

SwapZone has multiple convenient features, among which we can find:

  • Anonymity: SwapZone works in a way that no personal information has to be provided, keeping all the transactions completely anonymous.
  • Free swaps: Despite miner fees and providers’ rates, SwapZone does not charge comissions for any exchange that takes place inside the platform.
  • Multiple exchange providers: Users have the chance to instantly exchange cryptocurrencies with reknown providers like Changelly, SimpleSwap, CoinSwitch, StealthEX, InstaSwap, SwapLab and many others.
  • Dedicated Customer Support service: The customer support service takes feedback very seriously and is 24/7 ready to receive new cases. Also, they have a live chat for faster responses.
  • Comparing tool: SwapZone’s comparing tool can match all the available deals for one exchange, giving the user an opportunity to find the best rate for his transaction, as well as exchange conditions.
  • Supported cryptocurrencies: SwapZone has listed hundreds of cryptocurrencies, which makes it difficult not to find the asset you’re trying to exchange.

Withdrawal/Deposit Limits

There are no actual limits to how much crypto you can swap. As long as there are compatible deals from the providers, users will be able to complete the exchange, regardless of transaction size. A “limiting” factor could be that some popular exchange providers are not supported, reducing the availability of bigger deals for some cryptocurrecy pairs.

How to use SwapZone?

Select a cryptocurrency pair

The supported cryptocurrencies are deployed with compatible pairs, with which you can freely exchange. For example: BTC/XMR. You can choose DeFi, private, deflationary, and stable tokens. Choose the pair you want to trade to see available deals and rates.

Select offer

Explore the deals that SwapZone has found for your trade. Each deal shows you the provider, their reputation, rates and the estimated time for the transaction. Choose the option that suits you best.

Specify wallet address

Fill all address fields to continue with the exchange. You will have to provide a personal crypto address to receive the funds and a refund address -in case the swap goes wrong-. There is also the option to include payment ID and e-mail, if you want.

Make the payment

Send the agreed amount to the address SwapZone will provide for you. The exchange will walk you through every step of the transaction, including block confirmations and the live status.

Confirm the transaction

Once your payment has been confirmed, check the crypto wallet you provided until your transaction arrives. Remember that heavy network conditions can make the tokens take longer to arrive.

Fees

SwapZone does not charge any fees for their instant crypto swaps or comparing service. However, providers have different rates and some will make you pay more than others for a same transaction.

The exchange shows the user exactly how much he has to pay, as well as the total amount he’ll receive from the transaction. Also, mining fees will be charged for every transaction and, depending on network status, can be higher or lower.

Supported fiat currencies

SwapZone currently does not support any type of fiat currency payments, only crypto. Keeping the exchange from supporting fiat currencies help mantain the anonymity of the platform, as debit/credit card and bank transfers tend to draw personal information of the user during the transaction.

Supported cryptocurrencies

SwapZone supports over 400 cryptocurrencies from multiple ecosystems. Users can exchange popular crypto assets like Bitcoin (BTC), Ethereum (ETH), Monero (XMR), ZCash (ZCash), Litecoin (LTC), Ripple (XRP), Stellar Lumens (XLM), TRON (TRX), Shiba Inu (SHIB), Binance Coin (BNB) and hundreds of multiple ERC-20 tokens such as Axie Infinty (AXS), Maker (MKR), EOS (EOS), etc… Each cryptocurrency can be paired with another and dealed at the best rate, by the hand of certified providers.

KYC Verification

SwapZone does not request KYC procedures for clients to use its service. The anonimity feature allows swaps without any form of registration. Considering no fiat payments are supported, no personal data will be required to carry on transactions.

Ease of use and interface

SwapZone’s interface is highly intuitive and is a very good option for beginners, especially since it illustrates each step of swapping. All the features of the platform can be accessed through the main menu, where you can also choose cryptocurrency pairs and start your trades.

However, the platform lacks ideal tools for professional traders, so it is mostly recommended for simple transactions.

Security

SwapZone is a non-custodial instant crypto exchange aggregator, which means that its services are quite safe to use. As there is no need for registration, no actual accounts can be hacked, as no personal information will ever be leaked. Every exchange takes place from personal wallets to the addresses SwapZone generates for the client, so there aren’t any funds in the platform to steal.

Given the nature of the exchange, there are no 2FA or Google Authenticator integrations.

Customer Support

The Customer Support service is offered by e-mail and livechat, where you can communicate your doubts and report transaction errors. In addition, the SwapZone team shares their emails on the platform, in case a greater degree of contact is necessary.

  • elena@swapzone.io
  • art@swapzone.io
  • pm@swapzone.io
  • olya@swapzone.io

The live chat is useful for making reports related to transactions, while the e-mail is established as a feedback method for ongoing cases and new requests with the support team.

User Experience

SwapZone has a 4.4/5 score on TrustPilot and, although it has never been hacked (nor can it be), there are few reports of transaction errors, leading some users to pay more than they thought and/or wait a lot longer than they should to receive the tokens. SwapZone’s Customer Support service has addressed these cases on their TrustPilot page.

Pros and cons

Pros

  • Non-custodial instant crypto exchange
  • Cryptocurrency rates aggregator
  • User-friendly interface
  • No transaction fees are paid to SwapZone
  • Hundreds of supported cryptocurrencies
  • No registration or KYC needed

Cons

  • No passive income mechanisms
  • No trading tools
  • No fiat payments supported
  • The SwapZone platform is only available in english
  • The platform can be slow to catch on some rates
  • Some recognized exchange providers are not availale in SwapZone
Go to swapzone.io