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Not so many people who want to buy and invest in cryptocurrency know how to use professional trading platforms like Binance, FTX, etc. 

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They also may need to learn how to use decentralized exchanges like Uniswap, and Pancakeswap, because the process is tiring. 

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How can these sets of people now buy, sell, and invest in cryptocurrency in a much more simple way?

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That's where Instant Swap Exchanges become of benefit.

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In this reading, we are going to know what instant swap exchanges are, and we will use Simpleswap, as a case study.

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What is Instant swap exchange?

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Instant swap exchanges are platforms that make it easy to buy, sell and invest in cryptocurrencies. As the name implies “instant swap” shorten the processes by which one can buy and sell cryptocurrencies.

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What is Simpleswap

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SimpleSwap as an example of an instant swap platform is a user-friendly and reliable service for cryptocurrency exchanges. That provides floating and fixed exchange rates, where customers can easily buy, sell and swap crypto using their web service or mobile app.

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Simpleswap support more than 500 crypto and fiat currencies, they also have a platform known as Simplehold, a secure light wallet that supports NFTs, and multiple cryptocurrencies, it's easier to store, send, receive and swap crypto.

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How Does Simpleswap Work

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Using Simpleswap is simple and straightforward.

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First, you must choose the crypto exchange pair you want to use (for example, BTC to ETH).

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Then you need to enter the recipient’s Ethereum address. Be extremely careful and double-check your ETH address. Your Ethereum coins will be sent to this address right after the exchange.

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After that, send and receive cryptocurrencies on SimpleSwap. On the exchange page, you will see the address to send the indicated amount of Bitcoins to continue the exchange.

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You will get the desired crypto when the swap process is over and the exchange is successfully finished.

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The merit of Instant Swap Exchanges

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• Non-Custodial - Instant swap exchanges like Simpleswap are known as non-custodial, and they protect their user privacy by not letting them undergo Know your customer (KYC) before being able to use their platform. 

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• Easy to use - They shorten the entire process from signup, verification, swapping, buying, and selling of cryptocurrencies. Having a simple user interface, with no chart or trends pattern makes it more appealing for beginner investors.

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• It’s safer - The reason why using an instant swap platform is termed “safe” is because, unlike other professional exchanges, they don’t store your funds or have access to them. During the swap process, you’re to provide the wallet address where you want your funds to be deposited. 

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Conclusion

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Instant swap platforms like Simpleswap aren’t just for a newbie investor, but also for professionals and OGs looking for a safer way to fund their hard wallet for a long-term hold. 

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