Swapped.com
| Swapped Logo.jpg | |
 | |
| Private Company | |
| ISIN | 🆔 |
| Industry | Cryptocurrency |
| Founded 📆 | |
| Founder 👔 | |
Areas served 🗺️ | Worldwide |
| Services | Cryptocurrency Exchange |
| Members | |
Number of employees | 11-50 |
| 🌐 Website | swapped.com |
| 📇 Address | Brabrand, Denmark |
| 📞 telephone | |
Swapped.com is a cryptocurrency exchange platform that provides users with a simplified process for buying and selling digital currencies. The platform offers a range of purchasing options and strives to maintain low transaction fees compared to competitors. The website supports over 30 payment methods, including credit cards, bank transfers, Apple Pay, and Google Pay, to facilitate easy access to various cryptocurrencies.[1]
Overview
Cryptocurrency purchased on the platform is typically sent immediately after payment is received, with minor delays if using a bank transfer, which may take 1-2 business days. When selling cryptocurrency, funds are sent after one blockchain confirmation, which generally takes no more than 30 minutes. The time for funds to appear in a user’s bank account varies, though bank transfers are usually completed within one business day.
Advantage
Swapped.com offers comprehensive annual summaries of all trading activities conducted on the platform, designed to assist users in meeting their local tax compliance requirements. These detailed summaries include essential information regarding each trade, helping users accurately report their earnings and losses. The platform emphasizes the importance of users consulting with their local tax authority to fully understand their specific tax obligations related to cryptocurrency transactions. By doing so, Swapped.com aims to ensure that users remain informed and compliant with the applicable regulations in their jurisdiction.[2]
Registration
To comply with anti-money laundering (AML) regulations, Swapped.com requires identity verification for new users. This process includes submitting a government-issued ID, such as a passport or driver's license, and completing a live selfie verification. Additional documentation may be required to verify the user's address, such as a recent bank statement or utility bill. Most identity verifications are completed within 5-10 minutes, and live support is available to assist with any issues.[3]
Exchange Rate
The website securely locks in the cryptocurrency price at the exact moment payment is received. For payments made via credit card or digital wallets, such as Apple Pay and Google Pay, the cryptocurrency rate is guaranteed instantly at the time of purchase. This means users can proceed with confidence, knowing that the price will not fluctuate during the transaction process.
In the case of bank transfers, the price is locked once the payment has successfully cleared, which may take some time depending on the bank's processing speed. It’s important for users to be aware that this can lead to potential price changes if the market fluctuates before the transfer is completed.
For selling transactions, the confirmation of the rate occurs after one blockchain confirmation, which typically takes around 30 minutes. This process ensures a level of security, as the rate is not fully confirmed until it’s been validated on the blockchain. Overall, this system is designed to provide users with clarity and security when engaging in cryptocurrency transactions.[4]
Processing
The platform provides a fast processing experience:
- Purchasing Cryptocurrency: When users buy cryptocurrency, coins are sent immediately after payment is confirmed. For bank transfers, processing typically takes 1-2 business days.
- Selling Cryptocurrency: For those selling, funds are sent to the user's bank account after a single blockchain confirmation, often within 30 minutes, with transfers arriving within one business day, depending on the receiving bank's speed.
References
External Links
