Swapin Review: Crypto-to-Fiat Payments Processing Service

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What Is Swapin?

Swapin is a crypto-to-fiat processing service that allows users to make crypto payments with automatic and instant conversion into EUR to an IBAN account as per our Swapin review. The platform offers solutions for individuals and businesses: transfers, rent payments, internet, utility bills, accepting payments on the site, invoicing, payroll, and more. Operations conducted by Swapin are legal because the company has an Estonian license and complies with European financial services standards.

Swapin Summary

Official Website https://www.swapin.com/
Headquarters Tallinn, Estonia
Found in 2017
Native Token No
Listed Cryptocurrency BTC, ETH, LTC, USDC, USDT, BCH, DASH, TRX
Trading Pairs No
Supported Fiat Currencies EUR
Supported Countries 90+
Minimum Deposit No Minimum Deposit
Deposit Fees Free
Transaction Fees Crypto-to-Fiat Swap Fee: 0.8% – 1.35%
Transfer to Bank Fee: 0.2% – 0.4%
CoinCollector & E-com Widget Processing Fee: 0.25%
Withdrawal Fees Minimal
Application Yes
Customer Support Email & Social Channel Support

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The Piixpay platform was founded in 2017. The company headquarters are located in Tallinn, Estonia. Evald-Hannes Kree is the founder and CEO of the platform. In 2022, the company raised financing of €1.68 million, rebranded, and changed its name to Swapin. The rebranding affected not only the name. The app was improved and updated, and the marketing policy and company’s development strategy were strengthened. Nowadays, Swapin services are used by well-known brands such as:-

  • REMAX – One of the largest real estate brokers in the world
  • PaxWorld – A leading Metaverse platform
  • Aufort Gold – A leading service for investing in gold
  • E-Jewels – A luxury jewelry online store

Swapin is rated 4.8 out of 5.0 (Excellent) on Trustpilot. Out of 111 reviews, 82% are Excellent, and 14% are Great.

Swapin User Interface

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Swapin is a member of the Swiss Crypto Valley Association. The association was established in January 2017, with the Swiss government’s support, in Zug’s canton. Crypto Valley is the headquarters of companies like Ethereum Foundation, Tezos Foundation, Bitcoin Suisse AG, Bancor, and many others.

Swapin (Ungaro LLC) is operating under the Estonian license FVT000088.

Swapin’s Mission

Since 2017, Swapin’s mission has been to bridge the gap between crypto and traditional finance. A next-generation technology that transforms how businesses and people send and receive money around the world was created by Swapin’s team.

Swapin Solutions For B2C And B2B Clients

On the Swapin platform, users have access to tools for both B2C and B2B segments:-

Solutions For Private Transfers

  • InstaPay: It is a solution that helps you send digital assets, which are automatically converted into euros, and delivered instantly to the recipient’s IBAN account. Make instant and easy transfers to friends and family, or pay for purchases using cryptocurrencies. For example, users can pay for real estate in another country, cars, and other valuable property.
  • Predefined Payments: It helps you avoid wasting time filling in previously entered data. Thanks to Predefined payments, users can create a transfer template and reuse it in the future. This feature is convenient for those who pay monthly rent, loans, internet, and other regular services. Your provider or lessor will not even know that you have paid in cryptocurrency, as EUR will be credited to their IBAN accounts.
  • InstaFill: It is a solution for automatically transferring personal crypto assets in EUR to a bank account. You need to link your Swapin crypto account to your IBAN. If you need fiat currency, simply deposit your crypto account on Swapin and receive an instant fiat transfer.

Swapin Solutions for Private Transfers

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The company plans to launch the InstaBuy solution soon. InstaBuy lets users purchase cryptocurrencies and make fiat-to-crypto transfers in just a few clicks. InstaBuy is the opposite of InstaPay, and clients will be able to transfer fiat with automatic conversion to crypto to the recipient’s address.

Business Solutions

  • CoinCollector: It is a bridge between digital and fiat assets. With the help of CoinCollector, the company bills clients in EUR, which can be paid with cryptocurrencies. The customer pays the bill with one of the cryptocurrencies presented on Swapin, while the company receives fiat currency from a connected corporate IBAN.
  • E-Com Widget: The E-com solution is easily integrated into the site, allowing online stores to accept crypto payments with an instant transfer of the requested amount in fiat currency to a corporate IBAN account. The solution is available on popular CMS such as WooCommerce, Magneto, and PrestaShop.

Swapin Business Solutions

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For Whom Swapin Solutions Are For?

The Swapin platform solutions and tools are ideal for all types of businesses and individuals who need a bridge between cryptocurrencies and banks:-

  • E-commerce and Online Shops
  • NFT and Physical Art Dealers
  • Yacht Brokers and Car Dealerships
  • Cryptocurrency Miners
  • DeFi Apps and Crypto Platforms
  • Entertainment, Lifestyle, and Travel Firms
  • Real-estate and Property Development Companies

Why Choose Swapin?

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Swapin Fees and Conditions

Account opening and maintenance are free of charge on the Swapin platform for B2B and B2C clients.

Conversion Fee for Cryptocurrency to Fiat 0.8% – 1.35%
Cryptocurrency Deposit Fee 0%
Bank Transfer Fee 0.2% – 0.4%
Coincollector and E-com Widget Processing Fee 0.25%
Credit Card Acquiring Fee 2% – 2.5%

The minimum transaction amount is 5 euros; the maximum is unlimited.

Swapin Supported Assets

Currently, Swapin supports the top 10 popular cryptocurrencies:-

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Bitcoin Cash (BCH)
  • Litecoin (LTC)
  • Dash (DASH)
  • Tron (TRX)
  • USDT ERC-20
  • USDT TRC-20
  • USDC ERC-20
  • Service Coin (ESCT)

EUR was available for use among fiat currencies on Swapin, and now according to the roadmap, the company proudly includes support for GBP (in addition to EUR).

Swapin Clients

The list of platform clients includes companies from different sectors of the economy. The most popular ones:-

RE/MAX is one of the largest real estate brokers in the world. The company has over 100,000 employees, and RE/MAX has 6,800 offices in over 100 countries. Using Swapin’s InstaPay and CoinCollector tools has allowed RE/MAX to accept crypto payments from customers worldwide. While cryptocurrencies are being introduced into the traditional economy, those who want to buy real estate using cryptocurrencies are only growing every year. Indeed, such a decision will strengthen the position of RE/MAX in the real estate market.

PaxWorld is a blockchain startup developing a multifunctional decentralized metaverse. Despite the development within the crypto industry, not all company employees are ready to receive wages in BTC, ETH, and even USDT. With the help of Swapin InstaPay and Predefined payments solutions, PaxWorld has been able to pay salaries to employees and households and recurring monthly payments in EUR. For example, rent, internet, or server costs.

E-Jewels is one of the largest luxury diamond retailers in all of Europe. E-Jewels is leveraging Swapin’s CoinCollector technology which allows businesses to accept cryptocurrencies. In the near future, the retailer plans to connect the E-Com Widget, which will allow customers to make purchases using cryptocurrencies directly on the site.

Aufort Gold is an online precious metal investing platform. The E-Com payment widget was integrated hassle-free from Swapin; thus, investing in gold with cryptocurrencies on the Aufort Gold website became possible in just a few clicks.

Swapin Partnership Program

The Swapin partnership program allows up to a 30% revenue share.

To participate in the partnership program, you have to signup and get your personal partner link. Share your link everywhere on social networks, websites, or blogs. Earn a profit share from every exchange transaction your invited users make.

Swapin Partnership Program

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Swapin Team

The Swapin team consists of experienced professionals and blockchain enthusiasts with many years of experience in relevant positions.

Evald-Hannes Kree — CEO & Founder Swapin. Evald-Hannes Kree has years of experience in E-com and Fintech, has his MBA, and is an early blockchain visionary in the industry since 2013.

Joonas Honga — CTO. Joonas Honga has 15+ years of CTO experience focused on engineering and developing complex software solutions and is a devout blockchain enthusiast.

Edward Rebane — CPO. Previously a software dev team leader and product owner, Edward Rebane spent years building startups in the E-com business field and is an avid crypto enthusiast.

Märt Varatu — Head of Sys.Op. Märt Varatu has many years of experience in product development, technical support, and system administration and has been around the blockchain industry since 2018.

Julia Tarmisto — AML & Legal. Julia Tarmisto has 10+ years in the EU banking and fintech sector behind her.

Swapin Team

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Swapin Advisors

Dimitrij Pruglo — Founder and CEO of Covesting. Dimitrij Pruglo is a well-known tech investor with previous experience with Saxo Bank and SEB Bank.

Marek Pärtel — Co-founder and CEO of Estateguru. Marek Pärtel is a prominent fintech speaker, angel investor, and freedom advocate.

Toomas Römer — Co-Founder, VP of Eng Bolt. Toomas Römer is the ex ZeroTurnaround CTO and is an angel investor.

Ian Kalla — CXO Bankish. Ian Kalla is a renowned BaaS and core solutions architect.

Swapin Advisors

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Swapin Partners & Service Providers

Veriff — Veriff is an identity verification company originally from Estonia. Veriff provides reliable protection and filtering from bots and scammers, thanks to its unique identity and age detection features.

Onfido — Onfido is the new identity standard for the internet. AI-based technology assesses whether a user’s government-issued ID is genuine or fraudulent and then compares it against their facial biometrics.

My EU Pay — My EU Pay is an FCA-regulated payments institution based in London. The service offers payment services for personal and business clients.

Kraken — Kraken is a cryptocurrency exchange that is among the top 5 in terms of the trading volume. You can trade digital assets and invest in crypto with Kraken platform.

Coinfirm — Coinfirm is a company creating a safer blockchain economy by being at the forefront of innovation in crypto AML/KYC compliance and analytics. Coinfirm’s industry-leading risk management helps cryptocurrencies and blockchain protocols scale sustainably.

IBAN — IBAN is a payment validation platform.

The company has specialized in providing business Software as Service (SaaS) payment validation solutions.

StartupYard — StartupYard finds, invests in, and accelerates technology startups, primarily from Central Europe, focusing on the global market.

The Swapin Roadmap

The Swapin roadmap is presented until the end of the first quarter of 2023. New features, assets and payment methods, mobile apps for iOS and Android, Virtual IBAN, and other important updates will become available to platform users by the end of the year.

Affiliate Partner Program Debut

We want Swapin to grow and you to be part of it! The Swapin affiliate program will allow users to easily share a link that refers new users and businesses to the platform. Each new user will generate referral income, and users will be offered promotions to share with others and attract new signups to Swapin.

Multi-Currency Support

Currently, Swapin solutions support crypto-to-fiat payments denominated in euros. When crypto payments are received, a corresponding bank account will receive euros (EUR) immediately. Future support for British pounds (GBP) will be added. The update will also contain the infrastructure to support different currencies in the future faster.

Instabuy Feature

In addition to the already available B2C products – InstaFill and InstaPay – Swapin will release the InstaBuy feature that allows users to purchase any major cryptocurrencies in just a few clicks. Crypto assets will be immediately transferred to a provided wallet like MetaMask.

The Swapin Roadmap

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New Crypto Asset Support

For Swapin to become the bridge between crypto-assets and traditional finance, many roads must lead to this bridge. By that, we mean we need to connect many assets, euros, and pounds on the fiat side and as many digital assets as possible on the crypto side of the equation. Swapin will add several new altcoin cryptocurrency assets in addition to majors like BTC, ETH, LTC, etc.

Partner Widget Release

The partner widget release will enable an on-ramp that allows clients with fiat to buy crypto and an off-ramp solution for merchants and their clients to convert crypto profits from margin trading, NFTs, DeFi, Play-To-Earn, and more into cash. Debit card payments will also be accepted.

Merchant Portal

With Swapin’s B2B solutions growing rapidly, we will introduce an exclusive merchant portal for business owners or analysts to review transactions, manage customer data, and much more. Swapin’s goal is to allow businesses to access a full suite of crypto-to-fiat payment solutions on the same level as traditional finance.

Virtual IBAN

Swapin has introduced support for virtual IBAN accounts to truly bridge the gap between crypto payments and traditional finance on one platform. A virtual IBAN will allow clients to spend money on their behalf and not on behalf of the company as it currently stands.

SWIFT Payments

Swapin – like many traditional, regulated financial entities – has accepted SWIFT payments. The Society for Worldwide Interbank Financial Telecommunication, or SWIFT for short, is a global payments system that connects banks to other banks across borders and helps transmit transaction instructions to financial institutions worldwide.

Multilingual Mobile App (Google Play, Apple App Store)


An all-new multilingual mobile app will roll out later this year as a free download via the Google Play Store for Android devices and the Apple App Store for iOS devices. Swapin users can access all of our innovative products and services from anywhere in the world, right from the palm of their hands.

Swapin Application Refresh v2.0

The main Swapin app will get another design update and refresh based on customer feedback, market demand, and internal company KPIs. Swapin developers are always working hard on planning the next several phases of app updates, and more improvements are slated for the future.

Updated E-Com Plugins For Major Platforms

E-Com, Swapin’s easy-to-integrate crypto-to-fiat payments widget, currently works as a plug-and-play setup compatible with several top e-commerce solutions like PrestaShop, WooCommerce, and others. This support will be expanded in the future so that any business utilizing any platform can take advantage of Swapin payment solutions.

Electronic Money Institution License

Swapin expects to obtain an Electronic Money Institution license. An Electronic Money Institution license will allow Swapin to become a full-fledged payment service, mimicking many major banks’ solutions. Services include buying Bitcoin and exchanging it for EUR, for example, then making a transfer. It also opens the doors for things like wire transfers, bank cards, and other traditional products and services – further acting as a bridge into the world of crypto.

Swapin Review: Conclusion

Swapin’s solutions for B2B and B2C clients are breaking the barriers between crypto and the traditional banking system. These solutions help make instant crypto-to-fiat payments in EUR directly to a personal or corporate IBAN account. Successful experience and customer reviews of Swapin only confirm this. The license, publicity, professionalism, and fame of the team members and advisors, as well as excellent reviews about the platform on Trustpilot, cast no doubt on the company’s reliability. The icing on the cake is membership in the reputable Swiss Crypto Valley Association and raising significant venture capital.

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