Comparison of Blockchain.Com vs Simpleswap [ 2024 ]

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

Your expert: Alejandro Borja

Blockchain.Com

Investing risks losing your money

Your expert: Xavier Tarrasó

Simpleswap

Investing risks losing your money

Main points

Fees

0,40%/0,45%

Earns

Yes

Customer service

3/5

≈ 1,20%/2%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

3.8 – Reasonable fees with a focus on security and ease of use.

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

Level

0,40%/0,45%

≈ 1,20%/2%

Brief explanation

Blockchain.com maintains a competitive fee structure for its trading services. The platform charges a dynamic fee for transactions, which typically aligns with industry standards to ensure affordability while maintaining high-quality service. For cryptocurrency trading, the fees vary depending on the market conditions and the type of transaction, such as buying, selling, or exchanging cryptocurrencies. It’s important for users to review the specific fees associated directly on the Blockchain.com platform before executing any trades to understand the potential costs involved fully. This fee structure is designed to be transparent, allowing users to make informed decisions without hidden charges.

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.

Blockchain.Com

Year Founded: Blockchain.com has been a trusted name in the cryptocurrency market since 2011. Its longstanding presence serves as a testament to its reliability and enduring commitment to serving the crypto community.
Security Methods: The exchange employs advanced security measures including the use of cold storage for the majority of assets, two-factor authentication, and cutting-edge encryption technology. These protocols ensure a high level of security, safeguarding user funds against potential threats.
Reputation and Reviews: Over the years, Blockchain.com has built a solid reputation within the cryptocurrency community. Positive user reviews frequently highlight the platform's reliability, security, and ease of use, which reinforces its status as a trusted exchange.
Trading Volume and Liquidity: Blockchain.com supports a significant trading volume and liquidity, making it a preferred platform for traders looking for a seamless trading experience without the risk of market manipulation. High liquidity ensures that trades can be executed quickly and at desired prices.
Transparency: Blockchain.com is known for its transparent operations, providing users with detailed information on transactions, fees, and the security measures in place. This level of openness is crucial in building trust and credibility among users.

Read blockchain.com review

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.

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Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

Blockchain Access UK Ltd.

SimpleSwap Ltd

Regulation

Not regulated

Year founded

2011

2018

Founder

Ben Reeves (parte del equipo original de Coinbase también)

Unknown

Payment methods

Transfers

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Blockchain.Com	FEATURES	Simpleswap
Blockchain.com allows users to start trading with a relatively low minimum, accommodating smaller budgets.	Minimum Trade	SimpleSwap supports flexible trading with no minimum deposit, making it accessible for casual users and beginners to start trading with any amount.
Fees are somewhat higher than competitors, which could be a deterrent for high-frequency traders.	Trading and Transaction Fees	The platform operates with a straightforward fee structure but lacks the transparency of detailed fee breakdowns that might benefit users looking for cost efficiency.
Supports a wide range of popular cryptocurrencies, providing good options for diversification.	Number of Cryptocurrencies	Offers a wide variety of over 300 cryptocurrencies, providing users with extensive options for trading different digital assets.
Offers a solid variety of trading pairs, allowing users to trade popular crypto combinations easily.	Crypto-to-Crypto Trading Pairs	Supports numerous trading pairs, allowing for versatile crypto-to-crypto exchanges, though it could expand into more niche or emerging cryptocurrencies.
The platform is highly transparent about its operations, fees, and security measures.	Website Transparency	While the website is user-friendly, it could improve by providing more detailed information about the company’s background and operational logistics.
While Blockchain.com provides a robust platform for trading and wallet services, the lack of a branded exchange card limits the flexibility for users to spend and earn rewards directly from their cryptocurrency holdings in everyday transactions.	Credit/Debit Card	SimpleSwap focuses solely on cryptocurrency exchanges and does not provide additional financial tools like an exchange card, limiting its utility for everyday transactions.
Provides secure storage options including cold storage, ensuring high safety for user assets.	Storage Offering	Provides secure storage options, though detailed information on security measures and storage capabilities could be more transparent.
Limited options for staking and rewards, which could be improved to enhance user investment benefits.	Staking and Rewards	Limited staking options and rewards are available, which could be enhanced to attract long-term investors.
Both mobile and desktop platforms are user-friendly and well-designed, offering seamless trading experiences.	Mobile App and Desktop	Offers a functional mobile app that is efficient and convenient for trading on the go, although further enhancements could improve user experience and features.
Customer support is available but response times and effectiveness can vary, indicating room for improvement.	Customer Service	Generally receives positive feedback for customer service, but could benefit from extended support hours and faster response times.
Efficient deposit and withdrawal processes, though some users may find the options somewhat limited.	Deposit and Withdraw	Crypto deposits and withdrawals are supported, but the addition of fiat options and reduction of withdrawal fees would improve this feature.

Key features

Analysis tools

Price tracking, but limited technical analysis tools

No trading tools, primarily a swap service

Mobile APP

Security

High 4,9/5

High 4,5/5

Additional features

Blockchain wallet, lending services, staking, institutional services

Instant crypto swaps, SimpleSwap Earn, loyalty program

Anonymity

Yes

Key points

Available cryptocurrencies

40+

300+

User-friendliness

Offers a user-friendly interface that is easy to navigate, making it suitable for beginners. The platform provides essential features without overwhelming new users.

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.

Value for money

Offers reasonable value for money with competitive fees and a strong focus on security, though it may lack some advanced trading features.

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

Countries of operation

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

Best for

Best for traders who prioritize security and want a straightforward platform with competitive fees.

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

Base currencies available

USD, GBP, EUR, BTC

BTC, ETH (varies by transaction)

Account

Trading

Blockchain.com provides a secure trading platform with a good selection of cryptocurrencies. It is easy to use but has higher fees compared to some competitors.

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.

Deposit and withdrawal

Blockchain.com offers multiple deposit options like bank transfers and cryptocurrencies. Withdrawals are processed efficiently, usually within a day, with low fees.

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

Account opening process

Blockchain.com offers a straightforward and user-friendly account registration process. Users need to provide personal information, verify their identity, and the account is usually approved within a day.

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.

KYC required?

Yes

Customer Service

Blockchain.com offers customer support through email and live chat. The support team is responsive, but the absence of phone support and limited availability can be a disadvantage.

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.

Security

Blockchain.com offers strong security features like 2FA, encryption, and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some investors.

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.

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I recommend Blockchain.com for those who prioritize security and a user-friendly trading environment. It’s particularly suitable for new entrants to the cryptocurrency market, thanks to its intuitive interface and robust security measures. However, potential users should be aware of its higher transaction fees and mixed customer service reviews, which are areas the platform could improve to enhance the overall user experience.

Xavier Tarrasó

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.

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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.