Swap Cryptocoins without an Account

Last year the team here at Swapity began this little adventure because we knew there had to be a more painless way to acquire the cryptocurrency tokens that we wanted. Especially throughout last fall as Bitcoin shot towards the moon and enticed millions of people to take notice and ultimately get in on the action themselves.

Here is where the problems and frustrations start for people: Sign-up on other exchanges has always been an arduous process that can take days or even weeks to get an account authorized, especially around Thanksgiving last year when many exchanges were seeing in excess of 100,000 new accounts created in a single day. It can be as frustrating as wasting most of the day at the DMV as your required to submit personal data, bank account information and copies of IDs. Once you have all that completed then it is hurry up and wait.

Here at Swapity we believe having to create an account and divulge all your personal data is not in the spirit of what cryptocurrency was intended to be. We think Satoshi would endorse Swapity’s no account needed method of swapping tokens in the crypto world. Swapping tokens should be a quick and painless transaction.

Here is a brief excerpt from our whitepaper that explains how we manage to keep things so simple:

Users swap directly with us. We have reserves for each coin we support. Instead of matching your sell offer with another buy offer like traditional exchanges you swap your coins for ours, no middle man is involved. This allows us to guarantee a trade will instantly proceed. Swapity calculates the fair market exchange rate with all fees already included. What you see is exactly what you get. This cuts the hassle and stress of deciding and waiting on a sell/buy price and is a sigh of relief for novice users.

All that’s needed to swap is the receiving cryptocoin address and return address for your coins. Say you want to swap Bitcoin for Ethereum. You would need the Ethereum address you want to swap into and a Bitcoin return address in case of any problems, like sending more then the swap limit.

Each swap receives a unique swap ID. With it you can track the details of your swap and check if it has completed processing. Processing times vary according to the coin and network load. For example Bitcoin takes about 10 minutes to process a transaction while Ethereum only takes about 15 seconds.

In our post on Medium yesterday we announced that we were in the home stretch of testing and that we are going to go live with the Swapity echange in the first week of July. We are kind of excited about this and hope you are as well. Not only will you be able to swap tokens with just a few clicks, you can also participate in the profitability of the exchange as it grows in popularity with Swapcoin.

Over the next few weeks expect to hear more from us here on Medium as well as all our other channels as our excitement for our launch gets closer every day.

P.S- A note to Satoshi: Feel free to swap your cryptos with us here at Swapity any time. Your identity and your privacy are safe with us.