SwapinBuy FAQ

In this article, we will answer the most common questions about the SwapinBuy product.

Q: What is SwapinBuy?

SwapinBuy is a crypto on-ramp solution that allows you to buy Bitcoin, Ethereum, or other crypto directly from your bank account. 

Q: What are the benefits of using SwapinBuy?

A: SwapinBuy offers several advantages for users, including:

  • Dedicated IBANs (payments in your name): Your fiat payments from your bank account are made to a dedicated IBAN issued in your name, ensuring a smooth and secure transaction experience.

  • Wide range of volumes: Whether you're looking to transact with as little as 5 EUR or as much as 10M EUR, SwapinBuy accommodates a wide range of transaction volumes.

  • Non-custodial solution: Swapin is a non-custodial solution, meaning we never hold your funds. Your purchased crypto is deposited directly into your crypto wallet.

  • Buy crypto and have it sent to any wallet: With SwapinBuy, you can purchase cryptocurrencies and send them to any wallet address, not just yours.

Q: What cryptocurrencies can I purchase with SwapinBuy, and in which fiat currency?
A: Currently, SwapinBuy enables you to purchase USDT, BTC, and ETH. You can buy these cryptocurrencies using Euros.

Q: What networks are supported for cryptocurrency transactions?

A: SwapinBuy currently supports TRON, Ethereum and Bitcoin networks for on-ramp transactions.

Q: Are there any fees associated with using SwapinBuy?

A: Yes, there are fees involved and you can find them here. You'll be charged a Swapin Fee depending on the transaction volume, along with a standard Network Fee for blockchain transactions. In addition, there is a floating exchange rate at the time of the conversion. These fees apply for both business and personal accounts. 

Q: Are the transaction volume limits cumulative for SwapinPay and SwapinBuy?

A: As of now, SwapinPay and SwapinBuy volumes are calculated separately, and they are applied to each transaction you make.

Q: What is a floating rate?

A: When buying crypto with SwapinBuy, you see a current exchange rate at the beginning of the transaction and it automatically updates every 3 minutes. The final exchange rate will be calculated at the moment we receive fiat from the customer to then convert to desired cryptocurrency and send to the provided wallet address. The final exchange rate will be reflected on the transaction details and will affect the final amount of crypto a customer receives. 

Q: How long does it take to complete the transaction?

A: The time it takes to complete your transaction depends. If your bank account supports Instant SEPA, it will take just a couple of minutes. In other cases, it may take about 1 business day. You can use the Instant SEPA IBAN checker to verify any IBAN for supporting instant SEPA payments.

Q: Who can use SwapinBuy?

A: SwapinBuy is currently available to individual customers with Basic and Full verification levels and our business customers in the EEA and Switzerland within the SEPA region.

Q: Are my funds safe with SwapinBuy?

A: Yes, Swapin is a non-custodial solution. This means we don't hold your funds. Once you send fiat it's converted to crypto and deposited directly into your provided Metamask, Trust, Ledger, or other crypto wallet, typically within minutes.

Q: How will I know when my transaction is complete?

A: Once your fiat arrives and the conversion to crypto is complete, the transaction status will be updated to 'Completed,' and the crypto is sent to the wallet address you provided. You will also be notified by email that your transaction is complete.

If you have any further questions regarding SwapinBuy that haven’t been answered in this article, please reach out to our support team at customer@swapin.com