Swapin Exchange

Swapin Exchange Review

Pros

• Highly compliant with regulations
• Allows you to accept and make cryptocurrency payments 

Cons

• Not many supported currencies

About Swapin

Swapin is a licensed exchange service provider that seeks to up the bar when it comes to offering secure and regulation-compliant crypto services. They allow you and your business to accept payments in crypto and cash them out to your bank account. If you are looking for a B2B or a B2C crypto solution, check out Swapin.

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. 

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

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.