Swapin Exchange
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Swapin Exchange Review
Pros
- Highly compliant with regulations
- Allows you to accept and make cryptocurrency payments
- Fast transactions
- Secure & non-custodial
Cons
- Not many supported currencies
About Swapin
Swapin is a licensed and regulated provider of crypto payment solutions based in the EU. They have been in operation since 2017 and are known for their pioneering work in facilitating transactions between crypto and banks. Swapin offers a range of products including a Web App for buying and selling crypto, a Widget and API for partners, and a solution for businesses to accept crypto payments. Their goal is to make cryptocurrency spending as simple and effortless as any other currency by bridging the gap between crypto payments and the traditional banking system.
Swapin is a Crypto Intermediary
Swapin offers a solution to businesses that want to accept cryptos. You can accept payments in BTC, ETH, USDC, or other cryptos, and then receive funds directly in your bank. By integrating their crypto-to-fiat e-commerce widget, you can begin accepting these currencies.
Swapin will instantly convert the crypto your customers pay with to the fiat of your bank account. If you are new to crypto, Swapin even provides a personal account manager.
They also provide infographics on your earnings. This will help you see what kind of impact the Swapin app is having on your business.
Transaction and Withdrawal Fees
You will be charged different fees depending on the transaction you carry out on Swapin. To switch between crypto and fiat, or traditional, currency ranges between 0.8% and 1.35%. If you want to transfer funds to your bank account, there will be a fee between 0.2 and 0.4%.
There is no fee to open an account here, either personal or business. Nor will they charge you any maintenance fee.
Swapin Core Products
Swapin offers a range of great features for traders. However, certain products stand out with this exchange, which we've listed below.
SwapinGet
This solution allows for quick conversion of cryptocurrencies to fiat and deposits it directly to your bank account in a matter of minutes.
SwapinPay
You can use cryptocurrencies to pay fiat invoices and transfer funds to any bank account. This solution is ideal if you want to use crypto for fiat-based payments or send money to others.
SwapinBuy
You can buy cryptocurrencies with Euros directly from your SEPA bank account. It only takes a few minutes for the cryptocurrencies to be received in your crypto wallet.
SwapinCollect
The payment link allows businesses to accept crypto payments easily. When customers pay with cryptocurrencies, the merchant receives payments in fiat directly in their bank account.
Swapin Widget
Developers can use the SwapinWidget API to easily integrate the Swapin on- and off-ramp solution into their projects. This allows customers to make instant transactions without the hassle of lengthy sign-up processes. By integrating the API, other platforms can smoothly incorporate Swapin functionality onto their landing page, ensuring a seamless user experience.
Dedicated IBANS
Supported Currencies
The number of currencies accepted here is fairly small. At the time of this writing, the only supported fiat currencies are the Euro and the British Pound. They also support eight cryptocurrencies:
- Bitcoin
- Ether
- Litecoin
- USDC
- USDT
- Bitcoin cash
- Dash
- TRX
- BUSD
- Binance Coin
- Dai
This is a small number of supported currencies, though they do cover the biggest names, so this could be enough if you or your business wish to begin accepting cryptocurrency payments.
Who Can Sign Up Here?
Swapin is available widely around the world, but, unfortunately, US investors will have to look elsewhere. Due to the extremely difficult nature of the SEC (Securities and Exchange Commission), many crypto businesses simply stay out.
Here is a list of countries where Swapin is available:
- Albania
- Algeria
- Andorra
- Angola
- Austria
- Azerbaijan
- Bahrain
- Belgium
- Benin
- Bosnia and Herzegovina
- Brazil
- British Virgin Islands
- Bulgaria
- Burkina Faso
- Burundi
- Cameroon
- Cape Verde
- Central African Republic
- Congo
- Costa Rica
- Croatia
- Cyprus
- the Czech Republic
- Denmark
- the Dominican Republic
- Egypt
- Estonia
- Faroe Islands
- Finland
- France
- French Polynesia
- Gabon
- Georgia
- Germany
- Gibraltar
- Greece
- Greenland
- Guadeloupe
- Guatemala
- Guernsey
- Hungary
- Iceland
- Iraq
- Ireland
- Isle of Man
- Israel
- Italy
- Ivory Coast
- Jersey
- Jordan
- the Netherlands
- New Caledonia
- Norway
- Pakistan
- State of Palestine
- Poland
- Portugal
- Qatar
- Réunion
- Romania
- Saint Lucia
- Saint-Pierre and Miquelon
- San Marino
- Sao Tome and Principe
- Saudi Arabia
- Senegal
- Serbia
- Kazakhstan
- Kosovo
- Kuwait
- Latvia
- Lebanon
- Liechtenstein
- Lithuania
- Luxembourg
- Macedonia
- Madagascar
- Mali
- Malta
- Martinique
- Mauritania
- Mauritius
- Moldova
- Monaco
- Montenegro
- Mozambique
- Seychelles
- Slovakia
- Slovenia
- Spain
- Sweden
- Switzerland
- Timor-Leste
- Tunisia
- Turkey
- Ukraine
- United Arab Emirates
- United Kingdom
- Wallis and Futuna
KYC and AML at Swapin
Swapin is set on bridging crypto and traditional finance. This means following financial regulations are closer to those implemented for traditional banks. This means they follow strict KYC (know your customer) and AML (anti-money laundering) protocols.
This also explains their high ranking on TrustPilot. They have a 4.8/5 star rating, making them an excellent choice if security and trust are your priorities.
Swapin App
Swapin launched a big app update in May 2022. This allowed for easier business account creation and improved user experience. You can get the app directly from the Swapin website.
Who Should Sign up Here?
Swapin is a good solution for business owners who are looking to expand their customer base. They will make it easier to accept crypto payments and also to use them to pay bills. All of this with tools to help monitor your company’s finances.
