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• What is BitSwap?

  BitSwap is an East Asian, non-custodial, trustworthy cryptocurrency exchange service that enables crypto-to-crypto exchange within minutes. The service provides the best cryptocurrency exchange rates and supports over 100 cryptocurrencies available for exchange. BitSwap is a non-custodial service, which means we do not store users’ funds within the service. On top of that, BitSwap never requests users’ data, i.e. email or ID, when making a transaction, so that you can buy crypto without registration.

• What is the BitSwap's working principle?

  BitSwap's service is integrated into the largest and most reliable cryptocurrency exchange platforms. To utilize an exchange at the best rate possible, BitSwap's trading algorithm searches for bids and asks on various crypto exchanges, then selects and suggests the best available exchange rate and displays it on the website. The rates remain approximate until the transaction is actually recorded on the blockchain. Hence, the exchange rate at the time of the transaction may differ slightly from the estimated cryptocurrency rate that you see when you begin a transaction.

• Why should I trust BitSwap?

  BitSwap was developed by a team of true crypto pioneers and experienced blockchain developers. Seeing as anonymity is the key feature of the cryptocurrency industry, we made BitSwap registration free. The service provides safe and fast transactions without revealing users' identities. When exchanging crypto through BitSwap, you can track your transaction status all the way through. On top of that, you are always in charge of your crypto savings. We provide the best possible rates by comparing a wide range of crypto exchanges and give access to over 100 of the most reliable cryptocurrencies.

• Why doesn't BitSwap fix exchange rates?

  BitSwap doesn’t fix crypto exchange rates because of the volatile nature of cryptocurrencies. As the rate of any cryptocurrency can fluctuate at any moment, we set the rate at the exact moment of the exchange. The non-fixed rates policy protects our service from crypto exchange risk.

• What is the wallet address?

  A crypto wallet is a digital place (such as a web or mobile application) where one can store cryptocurrency. A wallet address is a unique combination of random numbers and letters that is associated with a particular crypto wallet and usually looks something like this: 1QCkuQ5U12MxjRfirSsqKaacgoDe1ZwYR6 BitSwap does not provide users' with wallet addresses as we do not store users’ crypto savings inside the service. When exchanging crypto on BitSwap, users need to provide a crypto wallet address where the exchanged cryptocurrency can be received.

• Where can I get a Wallet Address?

  First you'll need to decide which crypto coin you desire, then find a reliable crypto wallet where you can store that chosen asset. As a rule, each coin has its own official wallet client. Each wallet has its own unique address and private key. Should you lose your wallet, this private key is needed to restore the wallet. That is why you shuld never share your private keys with anyone. BitSwap never requests users for their private keys, and no one should as this is totally private information.

• What is the Destination Address?

  To exchange crypto for crypto, you need to provide a destination wallet address for the crypto you get from the exchange. Each crypto asset has its own address, hence, if you exchange Ether (ETH) for XRP, you should provide your XRP wallet address in the destination address field, which is then where BitSwap will send your coins. In general, the recipient’s wallet address is the customer's crypto wallet address to which BitSwap will send coins once the transaction is complete.

• What is the hash?

  A hash, also known as a tx ID, is a unique transaction address on a blockchain that proves the crypto transaction's existence. Whenever you make a payment in cryptocurrency, you receive a hash displayed in your crypto wallet that looks like this: 0x0e63f4266aff6d7e95ca3baf213b8e44607dca80ffd2e46c6183c9ae2c310cae Every hash is located on a blockchain. If you have any issues with your transaction on BitSwap, our support team may ask you to provide the transaction hash to find your payment and resolve the issue. Should you experience any difficulties with finding the hash, we recommend you contact the support team of your wallet.

• Can I cancel my transaction?

  Unfortunately, no you cannot. Blockchain transactions are irreversible, and this is true for all blockchains. Once you've sent your crypto to a particular crypto wallet address, it cannot be cancelled and returned. So if you're going to exchange crypto, please be sure to double check all payment details carefully before sending. In addition, we don't delete crypto transactions from your history manually. If one is unpaid, it will expire within two days and the message ""Sorry, payment has not been received"" will be displayed. An unpaid pending transaction won't affect your future operations in any way.

• Why is my final amount different?

  Crypto transaction times can usually take 5 to 30 minutes. During the processing time, the crypto exchange rate may change due to the volatile nature of cryptocurrencies. Hence, the final rate may be slightly different from what you expected.

• When should I receive my money?

  BitSwap crypto transactions take 5-30 minutes to be processed. If a transaction is large (worth more than 5 BTC), processing may take longer depending on the transaction size and the blockchain capacity.

• Why is my transaction taking so long?

  Generally, our crypto transactions take 5-30 minutes to be processed. If your transaction takes longer than that, this could be due to a variety of factors including: • An overloaded Blockchain. Many transactions are waiting to go through, including yours. This issue occurs on the Bitcoin and Bitcoin-based blockchains. Unfortunately, the only thing to do is wait it out. BitSwap has no control over an overloaded blockchain. • Coin updates. We may turn off some coins to update a client. This can take some time. You will get your money as soon as we turn it back on. • DDoS attacks. Every platform is subject to such attacks. Unfortunately, in this case, the only thing to do is wait it out.

• Why is my transaction still waiting for payment even though I've already paid?

  There are several reasons this might be happening: • First, the crypto transaction hasn't been confirmed on a blockchain. Cryptocurrencies aren't stable, so minor errors sometimes occur. If this happens, we will either refund you your money or push the payment through if you can provide the hash (the tx ID) of your transaction. • Second, ETC and ETH confusion. The currency codes of Ethereum (ETH) and Ethereum Classic (ETC) are very similar. If you send ETC or ETH, make sure that you've selected the appropriate transaction type on BitSwap. For example, if you create an ETH to BTC transaction, make sure that you send ETH and not ETC. Otherwise your transaction will get stuck. • Third, wrong XEM message. While sending XEM, make sure that you've input the correct message. It's indicated here and looks like a combination of digits and letters. Messages like 'Hey how are you', 'I love BitSwap' etc. are lovely, but won’t work unfortunately. :) • Fourth, if you indicated or forgot to put a valid destination tag for Ripple or a valid memo for Stellar/Steem, the transaction won't be processed automatically and you'll have to contact our support team in order for your transaction to be either pushed or refunded manually. • Lastly, other internal errors. Even our well-made system can lag or experience internal issues. If you think this may be the case, please report it to [email protected]

• What does 'Not yet redeemed' mean?

  On the DASH, DOGE, and other Bitcoin-based blockchains, you may see the status of your crypto transaction as ‘Not yet redeemed’. This means that your transaction is complete, but it hasn't been used as input for another transaction. In other words, your coins have been received, but you haven’t sent them to your wallet yet. You need to update and sync your wallet in order to see the coins reflected in your wallet.

• Can I send coins directly to a wallet without creating a new transaction?

  All crypto wallet addresses (including memos, destination tags, and messages) provided by BitSwap are reusable and tied with your recipient address. You can send another amount of coins to the address generated previously multiple times without creating a new transaction on BitSwap. In this case, the coins you've sent will be automatically exchanged to the same cryptocurrency and sent to the same crypto wallet address.

• What аre the maximum and minimum amounts?

  What is the maximum/minimum amount? BitSwap doesn’t have amount restrictions for crypto exchanges. Nevertheless, there are some cases where a minimum amount applies: • If an amount is very low, make sure that it will cover all network fees required by a blockchain. • If the funds you want to exchange are insufficient, you will see a message like this: “minimum amount error” Please follow the amount recommendations we provide. Otherwise, there is a high risk that your transaction will go through and your money will be lost. For large amounts, there are no restrictions at all. You’re free to exchange as large an amount of crypto as you want. Note that in this case, the transaction time will depend on the blockchain capacity and the network fee amounts set by your crypto wallet. Here is a hint: to prevent money loss during a market pump/dump, split a large amount into smaller transactions and wait a couple of hours between sending them. In this case, you will not create an overwhelming task for the destination cryptocurrency, and its final crypto exchange rate will be more profitable.

• What are network fees?

  A network fee is the small amount of cryptocurrency required to push a transaction through a blockchain. Basically, when a user is exchanging one crypto asset for another, network fees are taken by blockchains from the amount sent in each currency. For example, when exchanging BTC for ETH, you pay a network fee for both the Bitcoin and Ethereum blockchain. Hence, it is crucial to make sure that the amount you want to exchange on BitSwap is enough to cover the exchange fees for both the process of sending your original currency and receiving the new currency. If the amount sent is too low to cover all the network fees, your transaction won’t go through, and your funds will be lost.