Comparison of Simpleswap vs Safetrade [ 2024 ]

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

Your expert: Alejandro Borja

Simpleswap

Your expert: Xavier Tarrasó

Safetrade

Main points

Fees

≈ 1,20%/2%

Earns

Customer service

3/5

≈ 0,10%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Passive income

Buy and hold

Yes

Beginners

Trading

Yes

Passive income

Buy and hold

Comparison of fees

Rating

4.0 – Competitive fees with a focus on instant crypto swaps.

3.9 – Competitive fees with additional benefits for high-volume trading.

Level

≈ 1,20%/2%

≈ 0,10%

Brief explanation

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.

SafeTrade implements a flat fee model for its trading activities, charging a uniform 0.1% fee for both makers and takers on all trades. This rate is appealingly lower than the industry average, which often hovers around 0.25%. This straightforward, low-cost fee structure makes SafeTrade an attractive option for traders looking to maximize their returns without the burden of high transaction costs. Additionally, it’s worth noting that there are no deposit fees on SafeTrade, which further reduces the cost for users to start trading. However, traders should be aware that while the trading fees are low, the lack of regulatory oversight might introduce risks that are typically mitigated on more stringently regulated platforms. Thus, while the fee structure is economically advantageous, it comes with considerations that should be carefully weighed.

Simpleswap

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.

Read simpleswap review

Safetrade

Security Methods: SafeTrade emphasizes security with comprehensive measures to protect user data and funds. This focus on security helps in building trust with its users.
Transparency: The platform's operations are characterized by a high degree of transparency, especially concerning its integration with the SafeCoin projects and community feedback mechanisms. This openness is a critical trust factor.
Trading Volume and Liquidity: SafeTrade handles a significant amount of trading volume, ensuring liquidity for its users, which is essential for executing trades efficiently without substantial price slippage.
Customer Service: The exchange offers 24/7 customer support, which is a substantial trust factor for users, especially in a market that operates round the clock. Reliable support is crucial for resolving issues swiftly.
Reputation and Reviews: Since its launch, SafeTrade has maintained a positive reputation within the community, supported by favorable reviews from its users. This reputation is a testament to the platform's reliability and service quality.

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Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

SimpleSwap Ltd

Unknown

Regulation

Not regulated

Year founded

2018

Founder

Unknown

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Simpleswap	FEATURES	Safetrade
SimpleSwap supports flexible trading with no minimum deposit, making it accessible for casual users and beginners to start trading with any amount.	Minimum Trade	SafeTrade allows trading in small quantities, but specifics about minimum trade sizes vary by cryptocurrency, which can be confusing for new users.
The platform operates with a straightforward fee structure but lacks the transparency of detailed fee breakdowns that might benefit users looking for cost efficiency.	Trading and Transaction Fees	SafeTrade charges a flat fee of 0.1% for all trades, significantly lower than the industry average, making it very cost-effective.
Offers a wide variety of over 300 cryptocurrencies, providing users with extensive options for trading different digital assets.	Number of Cryptocurrencies	Supports 48 cryptocurrencies, which is robust but still fewer than some of the larger exchanges that offer hundreds.
Supports numerous trading pairs, allowing for versatile crypto-to-crypto exchanges, though it could expand into more niche or emerging cryptocurrencies.	Crypto-to-Crypto Trading Pairs	Offers a variety of trading pairs, predominantly crypto-to-crypto, which caters well to a diverse trading base but lacks fiat options.
While the website is user-friendly, it could improve by providing more detailed information about the company’s background and operational logistics.	Website Transparency	The website provides essential information, yet could improve by offering more detailed insights about liquidity and security measures.
SimpleSwap focuses solely on cryptocurrency exchanges and does not provide additional financial tools like an exchange card, limiting its utility for everyday transactions.	Credit/Debit Card	Lack of a dedicated exchange card limits the practical usability of SafeTrade’s services for everyday transactions and rewards.
Provides secure storage options, though detailed information on security measures and storage capabilities could be more transparent.	Storage Offering	Offers secure storage solutions, but lacks some advanced features like insurance or diverse wallet options.
Limited staking options and rewards are available, which could be enhanced to attract long-term investors.	Staking and Rewards	Limited information and options for staking and rewards compared to competitors who offer varied staking benefits and rewards.
Offers a functional mobile app that is efficient and convenient for trading on the go, although further enhancements could improve user experience and features.	Mobile App and Desktop	Provides functional and user-friendly mobile and desktop interfaces, though there’s room for further enhancements in usability and features.
Generally receives positive feedback for customer service, but could benefit from extended support hours and faster response times.	Customer Service	Offers 24/7 customer support with good service levels, but feedback suggests there could be improvements in response times and resolution efficiency.
Crypto deposits and withdrawals are supported, but the addition of fiat options and reduction of withdrawal fees would improve this feature.	Deposit and Withdraw	Deposits and withdrawals are facilitated smoothly for cryptocurrencies, yet the absence of direct fiat transactions and limited information on fees for these processes affect the rating.

Key features

Analysis tools

No trading tools, primarily a swap service

Basic charting tools

Mobile APP

Security

High 4,5/5

Low 2/5

Additional features

Instant crypto swaps, SimpleSwap Earn, loyalty program

Margin trading, staking, SafeTrade Earn, fiat on/off ramps

Anonymity

Yes

Key points

Available cryptocurrencies

300+

20+

User-friendliness

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.

SafeTrade offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.

Value for money

Delivers good value for money with competitive fees and a straightforward swapping service, making it an easy option for quick trades.

Provides decent value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.

Countries of operation

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

United States, Canada, United Kingdom, Australia, Germany

Best for

Best for traders looking for a straightforward and quick cryptocurrency swapping service with competitive fees.

Ideal for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

BTC, ETH (varies by transaction)

BTC

Account

Trading

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.

SafeTrade offers a secure platform with a decent range of cryptocurrencies. It has competitive fees but lower liquidity compared to larger exchanges.

Deposit and withdrawal

SimpleSwap is a non-custodial exchange known for its fast transactions. It supports various deposit methods, and withdrawals are processed quickly with low fees.

SafeTrade supports various deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low fees.

Account opening process

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.

SafeTrade provides a straightforward account opening process. Users need to provide personal information and verify their identity. The process is efficient and typically takes less than a day to complete.

KYC required?

Customer Service

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.

SafeTrade provides support through email and live chat. The support team is responsive and helpful, but the lack of 24/7 support may be a limitation for some users.

Security

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.

SafeTrade employs robust security features, including 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

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.

Xavier Tarrasó

As one of the experts reviewing exchanges on our website, I find SafeTrade to be a particularly interesting choice for those venturing into the cryptocurrency market. It stands out with its low trading fees of only 0.1% across all trades, which is significantly lower than many other platforms. This feature alone makes it an attractive option for both seasoned traders and newcomers who are sensitive to cost. Furthermore, SafeTrade’s community-driven approach adds a layer of transparency and support that is not often seen in the exchange space. This feature should particularly appeal to users who value a collaborative and open environment. However, it’s crucial to note that SafeTrade is not regulated by any top-tier financial authority, which might be a concern for those prioritizing security and compliance. Overall, if you’re looking for a cost-effective platform and are comfortable with the level of regulatory oversight, SafeTrade could be a solid choice.

View all comparisons against Simpleswap

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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.

Comparison of Simpleswap vs Safetrade [ 2024 ]

Simpleswap

Safetrade

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Simpleswap

Safetrade

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Minimum Trade

Trading and Transaction Fees

Number of Cryptocurrencies

Crypto-to-Crypto Trading Pairs

Website Transparency

Credit/Debit Card

Storage Offering

Staking and Rewards

Mobile App and Desktop

Customer Service

Deposit and Withdraw

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Base currencies available

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives Simpleswap and Safetrade