InstaSwap Reviews 399

Instaswap was able to help resolve the problem in less than 12 hours. I was upset because I thought it was a "hidden fee", but they were able to explain what went wrong and provided me with the original value of the asset. Their customer service is amazing.

~Prior Comment
"Took to Much...

I was using their exchange and they used 1.18eth (5k) and gave me 2800 flux (3.8k). They stole around 1200 in fees."

Scam.
>After a period of 30 days if you deny to pass through the AML/KYC procedure it is in our judgment what we will do with your funds
I don't know what to add more. Don't use this service.

I initially didn't trust this platform. I didn't want to swap using CEX so I was looking for alternatives and it worked as what I needed.

Im genuinely happy with this exchanges service. My first ever transaction with this exchange failed but they sorter out everything quickly! Don't have any complaints to this day. The fees are very reasonable, transaction speed was quick, great variety of cryptos! 10/10! Definitely recommend this exchange:)

Sent ETH to their platform. After 204 confirmations it still has not confirmed deposit. Sent 2 support tickets to them with no response. Yet another horrible experience and I will probably have to wait days to get my transaction completed.

Transaction TC5D0RYV
sent to : 0xCb686Bf5a5A5b8F2C77A42fD279CC2A0aAB7147B

Total crab!!! Simply avoid them please.

Sent less than they told me (by mistake) and the transaction took more than the web expects, but with a single ticket to support they completed the transaction within the same day I asked for help.

Very bullish, don't write fee and i have a lot

Updated: Resolved. Took 2 days. At the time frustrating and concerning. It would be much better if they offered the option to do the KYC before doing trades. You can read my initial (shorted) review below. Basically, if you send coins you run a certain level of risk of having to do a comprehensive KYC. Your coins will be held until after the KYC is done, and only afterward will the swap take place. The risk of market fluctuations are real if your KYC takes longer than usual. I ran into technical issues on the website with the KYC. I was supposed to be able to find a link on the website to do the KYC, but it disappeared when I refreshed the page to update my camera settings. I was also supposed to get an automatically sent email to do the KYC, but that never appeared in my inbox. It took 12 or so hours to get support, and several more hours to sort it out. Once support reached out to me, and sent a link to do the KYC, it was comparatively quick to finish the KYC. They use Sumsub to do their KYC, and they are fairly demanding as they work with the largest corporations. KYC is home address, phone number, email address, full legal name, legal ID card with picture/address/date of birth, and includes taking a selfie wherein you have to rotate your head around in a circle multiple times until the camera has you from many angles. Make sure the documents you upload don't have a shortened or abbreviated versions of your name or they will not be accepted, and/or you will have to modify the name you used to register. Once the KYC was completed, the swap was done VERY fast. Much faster than changelly or simpleswap. But on the other hand, both of those sites have chat support in realtime. I did have an issue with simpleswap recently and it took 4 days to resolve and that involved a lot more money, so in that sense instaswap was better. I honestly don't know how I feel about instaswap. It worked out, but I was really troubled that I didn't understand what could happen when I sent my coins. And yes, that was my fault for not reading the terms of service. But if I had, I also probably would not have used them as the TOS seemed to give the user very few legal rights or legal recourse. A few things that really worried me: If you happen to be from certain countries, they have the right to just keep your coins. If you don't complete the KYC within a certain amount of time, they have the right to keep your coins. You would expect they wouldn't; but, the TOS indicates they can. And for any reason they can ban you from using their website. Like I said, the process went fine once support was involved, but I kept thinking that if this takes too long or they think I violated one of their conditions, they might just keep my coins and ban me from the site. Defi is supposed to be freedom from that kind of fear. The TOS need to be modified in significant ways before I would move any large sums through them.

Original Review (abbreviated). I have only used them once and it has so far been a disaster. I tried to swap about $2300 worth of HNT for USDT, after 2.5 hours of waiting the website told me the transaction failed. This appears to be untrue as helium explorer shows my coins in their wallet. I stayed up all night emailing and sending support tickets, and finally went to bed at 6:30am without getting any response. It is now a full day later and I still have not heard anything. Transaction failure in this case actually meant that instaswap flagged my transaction and wanted me to do a full KYC. Technical issues on their end prevented the KYC and held up the swap by 24 hours.

After Binance suspendet XTZ I was looking for another way to Swap my Tezos and InstaSwap was a good and easy to use way to do that

instaswap.io Is an awesome decentralized exchange. I will be using them regularly and would recommend to those investors that are looking for privacy, speed, and great customer service. Keep it up instaswap!

Customer service was quite good. Sometimes I had to message twice but I'm sure there could be lots of complains if one of their liquidity partners goes down which isn't necessarily their fault- just know that it could happen. When it works it works very well! Even used them again after their liquidity partner (binance) was down :)

Amazing experience! Although I had to go through KYC due to the big amounts that I was trading. Support response is good. I expect to see more features in order to keep using InstaSwap!

SCAM! Stay away from this exchanger or Swap Space.to!
They all belong together!

I've been fighting over a small amount for days

Instaswap is a scam. They are trying to steal your information through the “KYC” process. They will ask you for your personal information only AFTER your transaction has started, and they will hold your crypto hostage until it is completed (giving your personal information). They also will not return your crypto to the address they ask for at the beginning of the process. They’ll claim you should of read the “terms and conditions”. I’m sure they complete only a tiny fraction of the swaps to ensure a small percentage of people write a good review. Its a scam.

Summary of transaction as displayed on their site:

Transaction Id: # TTSUXGH6
Your Transaction has been Completed!
You Gave :
0.1 ETH
You Will Get :
0.884 AAVE

I only received 0.744 AAVE, quote and summary did not include network fees, totally misleading. I have subsequently received an additional 0.14 AAVE.

Thank you to the customer service team at InstaSwap. Very good to see that the team reacts to reviews.

I swapped USDT for HNT now I have no HNT and my USDT is gone (But resolved) Says transaction failed, but still took my coins and now it won’t let me submit a ticket to support for no reason / after some hours was able to get a ticket submitted through the computer and heard back sometime later in the night and the problem was resolved and refunded in full. Thanks for the quick response

They constantly want AML/KYC, which is legally okay. But if you want to avoid this, you should not choose this provider.

CAUTION! 0.1 BTC was stolen from me! They did not want to make the trade but refuse to pay me back my coins! Why do you not pay me back my coins if you refuse the trade? Be careful guys they make a few real trades and then snap when it suits them!

It's really great to be able to exchange cryptocurrency easily. However, I was used to decentralized exchanges like Bancor and Changelly, so I was slightly frustrated by the slow speed. It took more than two hours from the time I placed the order to the time the exchange was completed. ( DOGE -> RDD )

I'm not a trader, so this speed wasn't too much of a problem for me, but I don't think it's suitable for use by traders who are looking for short-term profits.

I think it is best to use it when you want to get the cryptocurrency you are looking for with ease, like I did.

I think it's a good service. Keep up the good work :)