Simpleswap
Simpleswap takes a crypto swap from setup to wallet payout
Last updated:Simpleswap organizes a wallet-to-wallet crypto exchange around a quoted rate, a deposit, and a payout. The sender chooses the assets and rate type, supplies the receiving details, and funds the generated order. Blockchain confirmations and processing statuses then show whether the exchange finished or needs attention.
Inputs that shape each exchange
Each exchange connects the asset being sent, the requested output asset, the amount, and a receiving address. The selected pair determines whether a fixed or floating rate is available. It also affects the displayed minimum, expected output, required network, and any extra destination identifier. A memo, tag, note, or refund address may be required for some orders.
The quote and deposit instructions have different jobs. The quote describes the proposed conversion, while the generated deposit address identifies where the input funds must go. Simpleswap then routes the confirmed deposit through its provider network and sends the resulting asset to the supplied destination. The exchange ID connects these records without creating a reusable account balance.
How does a crypto swap reach the receiving wallet?
A crypto swap reaches the destination after the deposit is detected, confirmed on its blockchain, exchanged, and sent on the output network. The sender first creates an order using the intended asset pair, rate type, amount, and destination details. Simpleswap then displays the deposit instructions for that specific request.
The deposit transaction produces a transaction ID on the input network. Once the required confirmations accrue, processing can move from confirming to exchanging. The sending stage means the output transfer has been initiated. Finished indicates that the service completed its side of the order, but the receiving wallet and payout transaction remain the final evidence of credit.
Fixed-rate commitments and floating-rate estimates
A fixed rate prioritizes a defined output, provided that its funding conditions are met. The fixed exchange rate remains locked for 20 minutes. The deposit transaction must be broadcast and receive at least one blockchain confirmation during that window. A late deposit may still proceed if the quoted rate has not changed. Otherwise, the order may fail and require a refund or approval of a new rate.
A floating rate shows an estimate when the order is created, then calculates the final output during processing. Market movement, available liquidity, and confirmation time can change that amount in either direction. Floating orders still have a displayed minimum. The quote uses an all-in conversion rate, while the sender’s wallet may charge a separate fee for broadcasting the deposit transaction.
What must be correct before funds are sent?
The deposit must match the order’s asset, network, address, and live amount requirements. Receiving details deserve the same check because a valid address for one network may be unusable on another. Any required memo or tag is part of the destination, not an optional comment.
- Match the selected input asset to the wallet balance being sent.
- Use the network named in the order rather than choosing by ticker alone.
- Confirm that the intended deposit matches the order amount and meets the currently displayed minimum.
- Confirm the receiving address and every required memo, tag, or note.
- Allow for the sender’s network fee and any fixed-rate deadline.
The generated deposit address belongs to that order. Reusing it for another transfer can separate the payment from the terms that produced it. If no deposit has been sent, the sender can leave the order unfunded without moving any assets. After a blockchain transfer is broadcast, it cannot be cancelled like an ordinary card payment.
Statuses as evidence of exchange state
An exchange status identifies the latest stage recorded for the order. Awaiting your deposit means no qualifying payment has been matched yet. Confirming transaction means the deposit is accumulating network confirmations. Exchanging covers the conversion step, and Sending covers the outgoing transfer. Finished records successful completion by the service.
Failed, Expired, Refunded, and Verifying describe different boundaries. Failed means processing stopped, while Expired means a required action was not completed within the applicable time. Refunded records a return of the deposit. The Verifying status means that a transaction is undergoing additional monitoring. None of these labels alone proves that a wallet balance has changed, so the relevant blockchain transaction remains important.
What does a mismatch between the estimate and payout show?
In this hypothetical floating-rate swap, a smaller payout shows that the initial estimate was not a fixed commitment. Every asset, network, address, amount, estimate, and minimum in the example is hypothetical rather than a current Simpleswap value.
Before funding, the sender records the hypothetical floating estimate, current displayed minimum, selected network, receiving address, and exchange ID. The wallet network matches the deposit instruction, and the intended amount remains above the displayed minimum. After these checks, the sender broadcasts the deposit and saves its transaction ID.
The order moves through Confirming, Exchanging, Sending, and Finished. The destination wallet then shows a smaller output than the initial estimate, while the payout transaction matches the credited amount. If the status instead becomes Failed, Verifying, or Expired, the reader stops rather than sending another deposit and uses the saved records to seek resolution.
Failures, verification, and recovery boundaries
A failed or delayed order needs diagnosis from its existing records, not an automatic second payment. The exchange ID identifies the request, the deposit transaction ID proves the input transfer, and a payout or refund transaction ID shows any later blockchain movement. The displayed status narrows the stage where processing stopped, although it does not explain every underlying cause.
Additional monitoring may lead to a request for identity, address, source-of-funds, or other supporting information. This is conditional rather than a registration requirement for every crypto-to-crypto order. A below-minimum deposit may fail without a guaranteed refund. A wrong network or omitted destination data can delay or prevent credit, while an expired fixed quote may lead to a refund or an offer to complete at a new rate. Refund availability may depend on the case and whether the remaining amount exceeds the network cost of returning it.
Alternative paths and final records
The crypto-to-crypto route is built around a specific deposit and direct payout rather than an order-book account balance. A partner-mediated fiat purchase is a separate path. Its available currencies, payment methods, regional coverage, and verification requirements depend on the selected payment provider. An on-chain decentralized exchange is another functional alternative, but it requires a compatible wallet transaction and available on-chain liquidity.
The lasting record should contain the chosen rate type, original estimate or fixed output, deposit instructions, exchange ID, deposit transaction ID, status history, and payout or refund transaction. These items separate the service’s order record from the two blockchain transfers. They can establish what occurred at each boundary, but they cannot reverse a confirmed transfer or guarantee recovery from incorrect destination details.
Frequently asked questions about Simpleswap
Is an account required for a crypto-to-crypto swap?
An account is not normally required to create a crypto-to-crypto exchange. The order is associated with an exchange ID, deposit transaction, and receiving address instead of a stored trading balance. Additional monitoring can still trigger a request for identity, address, source-of-funds, or related documents. Fiat purchases use outside payment providers, whose account and verification rules may differ.
How long does a Simpleswap exchange take?
A Simpleswap exchange has no single guaranteed completion time. Input-network confirmations occur before conversion, and provider processing happens before the output network records the payout. Congestion, liquidity, monitoring, and asset-specific confirmation requirements can extend the process at different stages. The current status, deposit transaction ID, and payout transaction provide better evidence than a general time estimate.
Does the displayed receive amount include every network fee?
The displayed amount does not include every cost that the sender may incur. For a fixed-rate exchange, the network fee for sending the output is included in the shown receiving amount. The sender’s wallet can still charge a separate network fee for the initial deposit. A floating-rate output may also change before execution because its displayed amount is an estimate.
Can an exchange be cancelled after the deposit is sent?
Cancellation is not assured after the deposit has been broadcast. An unfunded order can simply be left without sending assets, but a confirmed blockchain transfer cannot be reversed by cancelling the order. Once the exchange is confirming, exchanging, or sending, changes are not available. The exchange ID and deposit transaction ID are needed when requesting help with an active order.
What happens if the deposit is below the displayed minimum?
A deposit below the displayed minimum may fail, and a refund is not guaranteed. Returning the funds may be impractical when the refundable amount does not exceed the required network fee. The existing exchange ID and deposit transaction ID should be preserved for support. Sending a second payment or reusing the deposit address should not be assumed to repair the original order.