Neither SimpleSwap nor Changelly holds your funds; both may ask for verification in specific cases
SimpleSwap runs one custody model: wallet to wallet, with no long-term user balances. Changelly's Terms say it does not store crypto on deposits or balances. Neither asks every user for KYC: SimpleSwap may require it for fiat purchases, transaction security and compliance, and Changelly asks when its risk-scoring system flags a transaction.
A swap where the service never keeps a balance for you. You send from a wallet you control, and the result goes to a wallet you control, in one order.
Custody and verification side by side
| Feature |  SimpleSwap |  Changelly |
|---|---|---|
| Custody | One model: wallet to wallet, no long-term user balances source | Non-custodial: no deposits or balances held for users source |
| Account | Not needed for most crypto-to-crypto swaps; optional Customer Account source | Its Terms and homepage FAQ ask you to create an account; its KYC FAQ describes swaps started without one source |
| KYC | Fiat purchases; may be required for transaction security and compliance source | Not required for every user; requested when risk scoring flags a transaction source |
Who holds your funds during a swap?
SimpleSwap- One custody model for every swap.
- No platform account to fund before the swap.
- No balance to withdraw after it.
- One order ID from deposit to delivery.
Changelly- Its Terms: it does not provide custodial services.
- It does not store crypto on deposits or balances.
- The swapped coins go to the address you give.
When can each service ask for verification?
SimpleSwap- Fiat purchases through payment partners.
- An optional one-time verification at registration.
- Transaction security and compliance cases.
- A swap can be paused if screening needs a closer look.
Changelly- Not a requirement for every user.
- Requested when its risk-scoring system flags a transaction.
- The flagged transaction is put on hold until the check is done.
Do you need an account?
SimpleSwap needs no account for most crypto-to-crypto swaps; a Customer Account is optional and adds loyalty, history and Address Check.
Changelly's Terms and its homepage FAQ ask you to create a Changelly Account, while its KYC FAQ describes an exchange started on the website without one. Check the current Terms before you swap.
Can you check an address before sending?
SimpleSwap's Address Check, in the Customer Account, screens a wallet address through third-party analytics services and returns a risk level with the connections it finds. It does not replace your own address and network checks.
What stays your responsibility?
- 1Check the receiving address
Copy it from your own wallet and compare the first and last characters.
- 2Pick the right network
Send on the network the order shows, not another one that carries the same coin.
- 3Keep your seed phrase private
No legitimate service will ask for it, and neither SimpleSwap nor Changelly needs it.
- 4Keep the order ID
It is what support asks for if a swap is paused.
No swap service can reverse a confirmed blockchain transaction.
More comparisons
Questions
Does Changelly require KYC?
Not for every user. Changelly says it may ask you to pass KYC when its risk-scoring system flags a transaction, which is then put on hold.
Does SimpleSwap require KYC?
Not for most crypto-to-crypto swaps. Verification may apply to fiat purchases through payment partners and may be required for transaction security and compliance.
Does Changelly hold my crypto?
No. Its Terms say Changelly does not provide custodial services and does not store crypto on deposits or balances.
Does SimpleSwap hold my crypto?
No. SimpleSwap holds no long-term user balances: each swap goes from your wallet to your wallet in one order.
Why was my swap put on hold?
On both services, a check can pause a swap when screening needs a closer look. Contact support with your order ID and follow the steps they give.