Comparison of Buyucoin vs Simpleswap [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Buyucoin vs Simpleswap comparison!

Your expert: Alejandro Borja

BuyUCoin

Buyucoin

  • Threenvest valuation: 3,6/5
  • US legal: No
  • Security: High 4,5/5
  • Mobile App: Yes
Go exchange

Your expert: Xavier Tarrasó

simpleswap

Simpleswap

  • Threenvest valuation: 3,5/5
  • US legal: No
  • Security: High 4,5/5
  • Mobile App: No
Go exchange

Main points

Fees

0,24%

Earns

Si

Customer service

3/5
≈ 1,20%/2%

Fees

No

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

No

Passive income

Si

Buy and hold

Yes
Yes

Beginners

No

Trading

No

Passive income

Yes

Buy and hold


Comparison of fees

Rating

3.7 – Reasonable fees but higher for certain payment methods.
4.0 – Competitive fees with a focus on instant crypto swaps.

Level

0,24%
≈ 1,20%/2%

Brief explanation

BuyUcoin charges a flat trading fee of 0.24% for each transaction, which is relatively competitive within the Indian cryptocurrency market landscape. This fee applies equally to both makers and takers, simplifying the cost structure and making it easy for users to understand exactly how much they will be charged per trade. This transparency in fee structure is a significant advantage, as it helps users plan their trading activities without worrying about variable costs or hidden charges. In addition to trading fees, BuyUcoin also implements withdrawal fees that vary depending on the cryptocurrency being withdrawn. These fees are generally in line with industry standards, although they may be slightly higher for certain assets. Importantly, there are no deposit fees, which makes it economical for users to fund their accounts. Overall, the cost of trading on BuyUcoin is balanced by the convenience and range of features it offers, making it an attractive option for both new and experienced traders in the Indian market.
SimpleSwap’s commission structure is streamlined to cater primarily to crypto-to-crypto transactions. It charges a variable fee for each transaction, which typically ranges from 0.1% to 0.5% depending on the specific cryptocurrencies involved and market conditions. This fee is integrated into the exchange rate displayed at the time of the transaction, ensuring transparency. The platform does not impose additional fees for deposits or withdrawals in cryptocurrencies, which is a significant advantage for users looking to minimize costs. However, users should be aware of network fees determined by the blockchain of the cryptocurrency being used, which are not controlled by SimpleSwap but are necessary for processing the transactions on the respective networks.

Buyucoin

BuyUCoin
Go exchange
  • Security Measures: BuyUcoin employs robust security protocols including SSL encryption, two-factor authentication (2FA), and cold storage of digital assets, ensuring that user funds and data are protected against unauthorized access.
  • Volume and Liquidity: BuyUcoin handles a significant trading volume, ensuring liquidity that facilitates easier and faster transactions without substantial price volatility, which is critical for both new and experienced traders.
  • Regulatory Compliance: Operating within the legal framework of India, BuyUcoin adheres strictly to the regulatory requirements set forth by Indian authorities, which reinforces its legitimacy and trustworthiness.
  • Transparency: BuyUcoin maintains transparency in its operations with clear information on trading fees, withdrawal charges, and other pertinent operational procedures, enabling users to make informed decisions.
  • Customer Service: The exchange is committed to providing quality customer service with a comprehensive support system that includes FAQs, email support, and social media engagement, ensuring that user inquiries and issues are addressed promptly.
  • Pros
  • Low fee structure.
  • Own NFT marketplace.
  • Virtual demo account option.
  • Cons
  • Restricted to Indian investors only.
  • Higher than average trading fees.

Simpleswap

simpleswap
Go exchange
  • Security Methods: SimpleSwap ensures security by utilizing standard encryption protocols and security measures, safeguarding user transactions and data from unauthorized access.
  • Number of Cryptocurrencies: Supporting over 300 cryptocurrencies, SimpleSwap provides a diverse and extensive range of trading options, which speaks to its robustness and adaptability in the dynamic crypto market.
  • Trading Volume and Liquidity: Although specific numbers on trading volume aren't disclosed, the variety of cryptocurrencies supported and the platform's ability to fulfill swap requests promptly suggest a healthy level of liquidity.
  • Customer Service: SimpleSwap offers reliable customer support, which is crucial for user trust. Their support is accessible and designed to assist users with any issues or questions they may encounter.
  • Reputation and Reviews: The platform has gained positive reviews from users for its ease of use and efficiency. These testimonials build credibility and trust among potential and existing users, highlighting SimpleSwap's commitment to user satisfaction.
  • Pros
  • User-friendly interface
  • Supports many cryptocurrencies
  • No registration required
  • Cons
  • No fiat currency support
  • Limited trading features

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Product selection

Native token

No
No

Earns

Si
No

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

iBlock Technologies Private Limited
SimpleSwap Ltd

Regulation

Not regulated
Not regulated

Year founded

2016
2018

Founder

Shivam Thakral, Devesh Aggrawal, Atulya Bhatt
Unknown

Payment methods

Transfers

Yes
No

Mastercard

Yes
No

Wire transfer

Yes
No

Card

Yes
No

Comparative table

Buyucoin FEATURES Simpleswap
BuyUCoin allows users to start trading with relatively small amounts, making it accessible for beginners.
Minimum Trade
SimpleSwap supports flexible trading with no minimum deposit, making it accessible for casual users and beginners to start trading with any amount.
The platform offers competitive trading fees, although they can be higher compared to global standards, impacting high-volume traders.
Trading and Transaction Fees
The platform operates with a straightforward fee structure but lacks the transparency of detailed fee breakdowns that might benefit users looking for cost efficiency.
Supports over 40 cryptocurrencies, providing a decent range for traders looking to explore different digital assets.
Number of Cryptocurrencies
Offers a wide variety of over 300 cryptocurrencies, providing users with extensive options for trading different digital assets.
BuyUCoin offers a moderate number of crypto-to-crypto trading pairs, sufficient for new traders but limited for advanced users.
Crypto-to-Crypto Trading Pairs
Supports numerous trading pairs, allowing for versatile crypto-to-crypto exchanges, though it could expand into more niche or emerging cryptocurrencies.
The website provides essential information; however, some users may find details on fees and specific policies need clearer presentation.
Website Transparency
While the website is user-friendly, it could improve by providing more detailed information about the company’s background and operational logistics.
While BuyUcoin provides a range of innovative cryptocurrency services and trading options, the absence of a branded exchange card limits the convenience and utility for users seeking to spend cryptocurrency directly in stores or to enjoy additional cardholder benefits.
Credit/Debit Card
SimpleSwap focuses solely on cryptocurrency exchanges and does not provide additional financial tools like an exchange card, limiting its utility for everyday transactions.
BuyUCoin offers a secure wallet service for storing cryptocurrencies, although it’s not as feature-rich as some dedicated wallet services.
Storage Offering
Provides secure storage options, though detailed information on security measures and storage capabilities could be more transparent.
Currently lacks options for staking and earning rewards, which could enhance user engagement and investment returns.
Staking and Rewards
Limited staking options and rewards are available, which could be enhanced to attract long-term investors.
Both the mobile app and desktop platform are user-friendly, providing a seamless trading experience across devices.
Mobile App and Desktop
Offers a functional mobile app that is efficient and convenient for trading on the go, although further enhancements could improve user experience and features.
Slow response times have been a notable issue; improvements are needed to provide timely and effective support.
Customer Service
Generally receives positive feedback for customer service, but could benefit from extended support hours and faster response times.
BuyUCoin supports a variety of deposit and withdrawal methods, including direct bank transfers and UPI, though international options are limited.
Deposit and Withdraw
Crypto deposits and withdrawals are supported, but the addition of fiat options and reduction of withdrawal fees would improve this feature.

Key features

Analysis tools

Basic charting tools
No trading tools, primarily a swap service

Mobile APP

No
No

Security

High 4,5/5
High 4,5/5

Additional features

Staking, BuyUCoin Cash rewards, recurring buys, OTC trading
Instant crypto swaps, SimpleSwap Earn, loyalty program

Anonymity

No
Yes

Key points

Available cryptocurrencies

30+
300+

User-friendliness

BuyUCoin features a simple and user-friendly interface that is suitable for beginners. The platform focuses on making cryptocurrency trading accessible and easy to understand.
SimpleSwap features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.

Value for money

Delivers reasonable value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.
Delivers good value for money with competitive fees and a straightforward swapping service, making it an easy option for quick trades.

Countries of operation

India, United States, United Kingdom, Canada, Australia
Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

Suitable for Indian investors and other traders looking for a user-friendly platform with competitive fees.
Best for traders looking for a straightforward and quick cryptocurrency swapping service with competitive fees.

Base currencies available

INR, USDT
BTC, ETH (varies by transaction)

Account

Trading

BuyUCoin is an Indian exchange with a good range of cryptocurrencies and easy fiat integration. It has competitive fees but lacks some advanced trading features.
SimpleSwap is a non-custodial exchange known for its fast and anonymous transactions. It offers a wide range of cryptocurrencies but lacks advanced trading features and tools.

Deposit and withdrawal

BuyUCoin offers easy fiat and cryptocurrency deposit methods. Withdrawals are processed quickly, typically within 24 hours. Fees are competitive, making it a good choice for Indian users.
SimpleSwap is a non-custodial exchange known for its fast transactions. It supports various deposit methods, and withdrawals are processed quickly with low fees.

Account opening process

BuyUCoin provides an easy account registration process. Users need to provide personal information and verify their identity. The process is efficient and usually takes less than a day, making it user-friendly.
SimpleSwap offers an easy and quick account registration process. Users need to submit personal details and verify their identity. The process is fully digital and typically takes less than a day to complete.

KYC required?

Yes
No

Customer Service

BuyUCoin offers customer support through email and live chat. The support team is responsive and helpful, but the absence of phone support and limited hours can be a limitation.
SimpleSwap offers customer support via email and live chat. The response time is quick, but the support team is not available 24/7, which may be a drawback for some users.

Security

BuyUCoin employs standard security measures, including 2FA and encryption. However, it lacks regulation from major financial authorities, which might be a concern for some investors.
SimpleSwap offers strong security with 2FA and encryption. Despite its robust security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert reviewer on our website, I recommend BuyUCoin for Indian investors looking to enter the cryptocurrency market. Its user-friendly interface, combined with a diverse selection of cryptocurrencies and innovative features like a virtual demo account and NFT marketplace, makes it an appealing choice. However, potential users should be aware of its limited international accessibility and slower customer service, which could impact trading efficiency and user satisfaction. Overall, BuyUCoin is a solid choice for those based in India seeking a comprehensive crypto trading and investment platform.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert on cryptocurrency exchanges, I find SimpleSwap to be a commendable platform for those just starting with cryptocurrencies. Its straightforward and intuitive interface removes much of the complexity typically associated with crypto trading. This accessibility makes it an excellent choice for newcomers who might be overwhelmed by more advanced trading platforms. However, it’s important to note that while SimpleSwap excels in simplicity and ease of use, it may not fully satisfy the needs of more seasoned traders looking for advanced trading tools and features. For those just entering the crypto space, SimpleSwap offers a gentle introduction without the intimidating barriers to entry seen in other exchanges.

Read BuyUCoin review

View all comparisons against Buyucoin

Read simpleswap review

View all comparisons against Simpleswap

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

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