Swapspace Aims to Save You What is Most Precious....Time

The ridiculous amount of time it can take would test the patience of a Saint! So Swapspace' promise of saving me time was an excellent way to gain my attention. In addition they were strong advocates of personal privacy, something I can fully agree with, so a trial seemed like a damn good idea.

To preface this review of the Crypto Alt-Coin Exchange Swapspace, I will first tell you a short tale of my entry to this space, which should give some context as to how I view and assess projects. My review style or approach is due to having such an odd combination of employers. I covered journalism, before studying psychology and moving into IT admin and support back when Netscape browser was king. I stayed in tech a good while, before flipping over to travel visiting Peru, USA, Africa, Europe, Asia, Canada; we do live on a fabulous planet.

above: marshall islands home of swapspace

While working in travel, I had begun creating digital collage artwork 2009 and in 2014 made my art and various art wearables a full time commitment. Its true, creatives are often stuck in poverty. Artists struggle on because we love what we do, sometimes the very talented or very lucky can make a good living, the reality is most just survive on the margins.

So working as a digital artist kept me involved in tech and the internet, but the rise of Bitcoin and Crypto in general had occurred while I was in the travel industry so my exposure was in the sudden NFT explosion of 2020/21. Naturally I dived into Crypto art NFT's by beginning to convert my body of work from 2D to animated NFT art, on show in NFTshowroom & SignArt.

example of my NFT-art above

Its a steep learning curve despite, or perhaps because of, it being a brand new technology. As a crypto artist, minting my animated NFTs on two different blockchains, I am frequently frustrated by what I am now certain is a widespread issue and is precisely the one that Swapspace aims to help with, making it easier and crucially faster to exchange tokens and coins.

What Specifically Does Swapspace Offer

My frustration at how long and difficult buying and/or swapping BTC or a stable coins for the tokens I need to mint my NFTs was reaching new highs when Swapspace came to my attention. Below are the specifics they offer, but to my mind they were holding out a token I valued greatly and wanted more of. They offered me more TIME.

To put it another way, they offered to give me my time back by letting me get the tokens I need (Hive and Sign) in one quick seamless transaction. Below you can see how the other features dovetail nicely into this promise.

Swapspace is a registration-free, non-custodial cryptocurrency exchange aggregator.

Bit of a mouthful, but looking at its function and features below should make the description easier to understand even for readers new to Crypto.

1) Registration Free.

To expand on this, Swapspace is located in the Marshall Islands which means enhanced privacy, no taxation and is a popular place for the wealthy to create holding companies and trusts to store money offshore. The companies T&C does state any legal disputes are handled by UK courts under British Law. Swapspace does not ask for KYC type personal info, so keep in mind any such requests are coming from a partner exchange and to redo your swap request accordingly.

2) Non-Custodial.

In brief they are saying they do not hold or have access to your private keys in the way an exchange such as COINBASE would. The concept of non-custodial means you retain control of the coins until the exchange is completed. Swapspace utilizes its partnerships to effect the required exchange so this info stays with the trader you choose to do the handover.

3) Exchange Aggregator.

In basic terms they mean they gather together 14 exchangesand traders that can facilitate your desired exchange, allowing you to see the names and offers each has, then once you have picked who suits your situation best, Swapspace completes the exchange and deposits your new coins/tokens into the wallet address you supply. Trades usually complete in 3-5min, according t the FAQ.

See the 14 HERE

4) No Fees.

Yes, true because they share the fee of their trading partners. They state that this is not sharing a higher fee either, so the fee would be the same if you traded directly with the partner exchange. As you would expect they have an affiliate program, and affiliates are paid from Swapshare, no extra fee hits the user from that direction either. Full disclosure: its a program I am considering joining.

Needless to say the aprx 500 alt coins/tokens although very impressive, was not a major drawcard to me, I was looking closer because they had the coins I need (Hive & Sign) to mint my NFTart. The site claims 150,000 exchange pairs, including zero and low-fee coins, fixed and floating rates options, a very user friendly interface and an extensive blog of articles & industry news, guides and tutorials and it does not take hours to read the FAQ.  Grateful for the simplicity, as an aside; website rule of thumb: It should never take more than 3 clicks to find what you need.

There are competitors of course but Swapspace is partnered with some of the biggest and I was struck when looking at the alternatives that Swapspace's layout, content and functionality was eerily similar to SimpleSwap it is entirely possible the two are related or share a  founder or Dev team. Its a reassuring point in Swapspace favor that they have chat and email support info on the website. Info on the team itself is sparce, but hardly a surprise considering the enhanced privacy that is the norm in the Marshall Islands. (Extra: the island group also has close ties with Algorand)

There are min amounts that vary between coins, but these are clearly shown when you match-up the trading pair you wish to swap, and I suspect the mins are set externally by the exchanges doing the swap. Swapspace has plans in the future to allow credit cards, but at present its Crypto coins/tokens only that may be used in exchanges.

As a test of the platform I plan to exchange coins close to the min value, before I entrust them with multiple coin swaps. As  final due diligence I did an extensive review search and while as you would expect reviews by affiliates were universally positive, I was pleased to not find any scathing reviews from the Scamwatch and Trustreviewer sites. A point in Swapspace favour.

If my test exchange goes as planned, I'll be adding it to my bookmarks as a valuable, time saving resource. And watch the comments as I'll be sure to update the outcome there.

Have you used Swapspace? Comments welcomed.

Disclaimer: I am not a financial advisor & none of this is financial advice, 
merely a review to help educate the reader so they may make informed 
decisions to suit themselves.
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