Hello, and thank you for your comment and also for pointing out the correct way to use quoting. I’ll make sure to follow that going forward. Regarding your question I see why it might look like the issue is "on our side", so let me clarify a bit.

We already use two independent AML providers to check every deposit, but the reality is that no two AML systems are identical. Each provider builds and maintains its own database of blockchain addresses, updates it at its own pace, and applies slightly different risk-scoring rules. Because of this, it’s possible that a transaction passes our checks but still gets flagged later by a liquidity partner who uses a different provider or has different thresholds. By our testing we never had any problem sending them up to 75% of AML risk.

And this is not about being less strict, it’s simply that databases are not universal. Even very "strict" scoring with one provider cannot guarantee the same result across another system. That’s why we’re in discussions with liquidity partners to gain access to their AML APIs, so our checks can align more closely with theirs and further reduce this risk.
So our AML process already minimizes risk as much as possible, but it cannot be eliminated 100% because different providers rely on different datasets.


Thanks for your input, you are right. I’ve already edited the title to clarify this point. As I mentioned above, using our own liquidity and DEX integration is part of our long-term roadmap. For now, we’re focused on improving the service step by step, while being transparent about the current limitations. At this stage we offer an instant crypto exchange service similar to many on the market, but with an improved mechanism.

Hello, and thank you for the warm welcome!

On the fees side, I’d like to mention that apart from network fees, we also cover the cost of AML solutions as well as node infrastructure. Given these expenses, I believe our 0.5% for floating rate and 1% for fixed rate remain very competitive compared to the current market.

Regarding liquidity yes, you are right, if we were to rely fully on our own reserves, we could eliminate the dependency on 3rd party AML checks. Since we already have our own system in place, technically it’s not too difficult to move in that direction. We do have plans to integrate DEX liquidity and, over time, also add our own reserves. However at the moment, our focus is on polishing the service, fixing some small bugs, and preparing our affiliate program and API docs. But I can confirm that working with our own liquidity is part of our roadmap, and possible our next big development will be exactly that.

Thank you for the thoughtful follow up, this is a sensitive and complex topic, so let me explain in more detail.

If we could be completely sure that once our AML check is passed, the liquidity partner would never freeze the funds, then yes, we could call ourselves a 100% no-KYC exchange. But in reality, every liquidity provider or exchange uses their own compliance parameters and different services. AML scoring software works by maintaining large blockchain address databases and labeling them with different risk categories. Each provider builds and updates their own database, and sometimes one provider might be slower or faster than another in adding new flagged addresses. That’s why two different AML systems can give slightly different results.

Currently, we already use two independent compliance checking solutions (at a medium-to-high level). We’ve designed our service to easily integrate an unlimited number of new compliance solutions through APIs. Our plan is to expand with additional providers as the project grows, although these tools are quite costly. This process helps us minimize the risk, but I have to be honest, even if assets pass our checks, there is still a low possibility that a liquidity partner could freeze them due to differences in their databases, in our TOS this is clearly stated.

We are also in discussions with our liquidity partner to gain direct access to their AML APIs, which will allow us to align our checks more closely with theirs and further reduce this risk. But possibility that they will agree is low.
So in short, our AML checks strongly reduce the chance of a freeze, but we prefer to be transparent that the risk cannot be eliminated 100%.

Thank you very much for the kind words and for welcoming us to the forum.

I’d like to confirm once again that our platform operates exactly as we have described in the previous answers, with AML checks before routing to liquidity partners, refunds in case of high risk.
I also want to say that we’re truly happy to see that community members are checking our ANN and website carefully, asking questions, and giving us suggestions for improvement. This type of feedback's will help us grow and build a better service.

We also warmly welcome everyone to try our service make trades and share an honest review with suggestions, for UI/UX as well as technical parts. every bit of input helps us move forward and improve.

Thank you for your question, happy to clarify how our fees work.

Floating rate orders, the platform fee is 0.5% plus the network fee. There are no hidden fees, the exact amount the user will receive is always shown on the “Receive” tab, and that is what will be delivered, of course for floating rate this amount can change.

For fixed rate orders, we take the current market price and adjust it by 1% to guarantee the fixed rate, plus 1% as the platform fee. This allows us to lock in the rate regardless of market fluctuations. If the market shifts by more than 1% during the order process, the user is always asked whether they want to provide a refund address to get their funds back or continue with the current market rate.

So in all cases, the fees are transparent and already included in the quoted amount. What you see on the order page is final, there are no extra or hidden fees applied.

I see where the confusion comes from, and let me clarify.

There are two separate situations:

High AML risk score at deposit stage. In this case, the transaction does not continue. The coins are refunded automatically to the user once they provide a refund address. No KYC is involved in this scenario.

Transaction passes our AML check but gets frozen by a liquidity partner later, in this rare case, the liquidity partner may request documents. Since we don’t control their internal processes, KYC might be required to release the funds.

So, refunds and KYC are not the same process. Refunds apply when the order is blocked at our compliance stage. KYC may only appear if the order has already been forwarded to a liquidity partner and they freeze it.

This is why we previously described our exchange as “no-KYC” in practice, almost all transactions are completed without any documents, but I agree that “no-KYC” in the title was misleading and I already change it.

Thank you for your detailed feedback, you’re right, and we appreciate the clarification.

It’s true that we cannot claim to be a 100% “no-KYC” exchange, because in rare situations where our liquidity partners or law enforcement request documents, we have to comply. In practice, however, the vast majority of transactions (around 99%) are completed without any KYC requirements, and if an AML check fails we refund the funds automatically. Still, I agree that “no-KYC” in the title is misleading, so I will update our ANN accordingly.

We are just getting started with this project, and part of our roadmap is to officially register a company to strengthen trust and credibility. For us, being transparent with the community from the beginning is very important.

Thanks again for pointing this out, it helps us improve how we communicate and operate.

Thank you for raising this point, I completely agree with you. Let me clarify how our refund process works.

We have two scenarios where refunds may occur:

Fixed rate order expired/rate changed, if the market moved and the fixed rate is no longer valid, the user is given a choice on the order page: either continue with the current market rate or request a refund.

Compliance (AML) check failed, if a transaction does not pass screening, the order page updates in real time and asks the user to provide a refund address where funds should be returned.

So refunds are not sent back automatically to the source wallet. The user is always involved in the process through the order interface, and can decide where their coins should go.

Hello, and thank you for your comment.

Just to clarify: like most instant exchanges, we do rely on third-party liquidity providers. However, we’ve built our own mechanism to ensure funds are not sent directly to them. Deposits are first checked for AML risk score, and only then routed further. If the risk is too high, the funds are automatically refunded to the user’s deposit address without any additional questions.

Of course, no service that uses external liquidity can realistically guarantee 100% no-KYC in every possible scenario. I think you’ll agree that this is impossible. While we minimize this risk by screening with industry-standard AML tools, there may still be rare cases where a liquidity partner freezes funds and requests additional documents. In such cases, we work together with both the user and the provider to resolve the issue as smoothly as possible.

Regarding the website you mentioned (snapswap.eu): we’ve never been inspired by or copied them. We didn’t even visit that site before launching our project. The name “SnapSwap” was chosen because it fits our vision well, is easy to remember, and represents the speed and simplicity we want to deliver.

We appreciate your feedback and welcome healthy discussion, it helps us improve.

Fast and confidential exchange of Bitcoin, Monero, Ethereum, Tron, and over 100 other cryptocurrencies.
No account required. With a focus on privacy and transparency.

💡 How it works

    Select the cryptocurrency to exchange (e.g. BTC → XMR).
    Enter the wallet address to receive.
    Send a deposit.
    Receive funds directly to your wallet.

Average exchange execution time: 5-30 minutes, depending on network confirmations.

🔐 Security and trust

    Verification of all incoming funds before sending to liquidity partners.
    Refund assets that do not pass our compliance check (minus network fees).
    We never hold your funds longer than necessary to execute the trade.

📊 Rates and commissions
Two types of transactions are available:

    Float rate — 0.5% commission
    Fixed rate — 1% commission

All commissions are displayed in advance in the "Receive" tab. There are no hidden fees.

🤝 Support

📢 Telegram: @telegram_support
🌐 SimpleX

🔗 Useful links

🌐 Website: SnapSwap.io
📢 Telegram: @snapswap_io
🐦 Twitter: x.com/snapswap_io 
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You can read more about our processes and policies on our website.