What is Swapzone?
Swapzone is registered in Georgia and was founded in 2019. It is different from most of the other exchanges we list on our domain because it is more of an aggregator of other exchanges than anything else. They state on their landing page that they have collected verification procedures, rates, speeds, and prices from more than a dozen different partners. These offers are then compiled into one list.
Swapzone.io Key Figures
Here you can search for trades in almost 500 different cryptocurrencies and compare where to buy them using Swapzone tools.
Different exchanges have different trading views. And there is no “this overview is the best” view. You should determine for yourself which trading view suits you best. What the views usually have in common is that they all show the order book, or at least part of the order book, a price chart of the selected cryptocurrency, and order history. Usually, they also have buy and sell boxes. Before choosing an exchange, you should take a look at the trading view to make sure it is suitable for you.
As mentioned earlier, this platform is different from most others in that it doesn’t have its own buying interface. They simply have a “search interface” where you can search for trades and then get the results in the list on the right.
Swapzone trading fees
For comparison purposes, we have indicated 0.00% as the Taker and Maker fee in our exchange list. However, this is not necessarily correct. If you have selected a trade from the search results and execute the trade through the platform recommended in the search results, you will have to pay the trading fees set by the respective platform. However, these are not fees paid to Swapzone. This means that Swapzone’s own trading fees are 0.00% and the total trading fees you have to pay depend on which platform you choose.
Swapzone withdrawal fees
Swapzone doesn’t charge additional fees for withdrawals because they don’t hold cryptocurrencies to begin with. They are an instant exchange, and the cryptocurrencies you buy are bought from other exchanges (Changelly, SimpleSwap, etc.).
However, there are always network fees when transferring cryptocurrencies, which is why we have listed the network fees in the withdrawal fees section of this exchange. In general, network fees are below the global industry average when it comes to crypto withdrawal fees. The average BTC withdrawal fee when we conducted our last empirical study on this topic was 0.00053 BTC per BTC withdrawal.
Deposit methods and US investors
Why do so many exchanges not allow U.S. citizens to open accounts with them? The answer has only three letters. S, E and C (the Securities Exchange Commission). The SEC is scary because the U.S. does not allow foreign companies to solicit U.S. investors unless those foreign companies are also registered in the U.S. (with the SEC). If foreign companies nonetheless solicit U.S. investors, the SEC can sue them. There are many examples of the SEC suing crypto exchanges. One was when it sued EtherDelta for operating an unregistered exchange. Another example was when it sued Bitfinex, claiming that the stablecoin Tether (USDT) misled investors. It is very likely that more cases will follow.
Swapzone does not allow US investors on its exchange. So if you’re from the US and want to get into crypto trading, you’ll have to look elsewhere. Luckily for you, if you go to the exchange list and use our exchange filters, you can sort the exchanges by whether they accept US investors or not.
In order to trade here, you must first have cryptocurrencies. The only asset class you can deposit at (or rather through) Swapzone is cryptocurrency. If you really like Swapzone but don’t have cryptocurrencies yet, you can simply open an account with an exchange that has “fiat on-ramps” (an exchange where you can deposit regular cash), buy cryptocurrencies there, and then transfer them from such an exchange to this exchange. Use our exchange filters to easily see which platforms allow credit card transfers or deposits.