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What is Swapzone?
Swapzone is registered in Georgia (previously Seychelles) and it launched in 2019. It is different from most other exchanges that we list on our domain, seeing as it is more an aggregator of other exchanges than anything else. They state on their landing page that they have collected verification procedures, rates, speed and prices at more than a dozen different partners. These offers are then compiled in a list (see more under Swapzone Trading View).
You can search for trades in almost 500 different cryptos here and compare where you can buy them through Swapzone's tools.
Swapzone Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you.
As mentioned above - this platform is a bit different from most in the way that it doesn't have their own purchase interface. They simply have a "search interface", where you can search for trades and then get the results in the list to the right. Here's the picture of the search interface (top left) again:
Swapzone Trading fees
For comparison purposes in our Exchange List, we have stated 0.00% as the taker and maker fee. This is not necessarily true though. When you have chosen a trade among the search results, and you execute the trade using the platform recommended in the search results, you will have to pay the trading fees determined by such relevant platform. However, these are not fees paid to Swapzone. This means that Swapzone's own trading fees are 0.00% and that the trading fees you have to pay in total depends upon which platform that you choose.
Swapzone Withdrawal fees
Swapzone doesn’t charge any additional fees for withdrawals, seeing that they never hold any cryptocurrencies to begin with. They are an instant exchange, and the cryptos you do purchase are purchased from other exchanges (Changelly, SimpleSwap etc.).
However, there are always network fees involved with transferring crypto, which is why we have listed the network fees under the withdrawal fee section of this exchange. Generally speaking, to only have to pay the network fees should be considered as below global industry average when it comes to fee levels for crypto withdrawals. The average BTC-withdrawal fee when we performed our latest empirical study on the subject was 0.00053 BTC per BTC-withdrawal.
Deposit Methods and US-investors
Why do so many exchanges not allow US citizens to open accounts with them? The answer has only three letters. S, E and C (the Securities Exchange Commission). The reason the SEC is so scary is because the US does not allow foreign companies to solicit US investors, unless those foreign companies are also registered in the US (with the SEC). If foreign companies solicit US investors anyway, the SEC can sue them. There are many examples of when the SEC has sued crypto exchanges, one of which being when they sued EtherDelta for operating an unregistered exchange. Another example was when they sued Bitfinex and claimed that the stablecoin Tether (USDT) was misleading 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 would like to engage in crypto trading, you will have to look elsewhere. Luckily for you, if you go to the Exchange List and use our exchange filters, you can sort the exchanges based on whether or not they accept US-investors.
In order to trade here, you must have cryptocurrency to begin with. The only asset class you can deposit to (or rather through) Swapzone is cryptocurrency. However, if you really like Swapzone but you don’t have any crypto yet, you can easily start an account with an exchange that has “fiat on-ramps” (an exchange where you can deposit regular cash), buy crypto there, and then transfer it from such exchange to this exchange. Use our Exchange Filters to easily see which platforms that allow wire transfer or credit card deposits.