LetsExchange Review 2024 - Is It Safe?
LetsExchange is a go-to crypto-exchange hub with 4,000+ supported cryptocurrencies, deep liquidity, and a full set of functionalities to move your experience to the next level: cross-chain swaps, on- & off-ramp, DEX, swift and secure transactions. In the review below we will find out what are the main features of LetsExchange, whether is LetsExchange a scam, how to use this platform, etc.
What Is LetsExchange?
LetsExchange is a crypto-exchange hub with 4,000+ supported cryptocurrencies, deep liquidity, and a full set of functionalities such as cross-chain swaps, on- & off-ramp, DEX, and swift and secure transactions. The service requires no registration and is non-custodial: it doesn't store the funds of users and doesn't have access to users' private keys. The swapping process is fully automated, and the swapped coins are sent to the user's wallet without any additional steps. LetsExchange doesn't charge anything on top of the network fee for transactions and a processing fee.
LetsExchange is registered in Seychelles. The platform was launched in 2020 by a team of crypto and blockchain professionals and visionaries with 10+ years of experience in the sector. The developers of LetsExchange focus on ease of use of their product as the platform has an intuitive interface, simple structure, and lots of educational materials on the website so the newcomers in the crypto field will be able to get a deeper understanding of the industry via the company's blog. Along with this, the platform is improving constantly by introducing new features and functionalities to ensure all users’ needs are met.
As of January 2024, the platform offers the following functionalities:
- Swap - to exchange over 4,000 coins and tokens, including cross-chain swaps (e.g. USDT ERC20 to USDT BEP20);
- DEX - to exchange crypto in a decentralized environment
- Buy/Sell - to buy or sell crypto for fiat (more than 60 fiat currencies and over 180 cryptocurrencies are supported).
For those willing to earn on crypto swaps, LetsExchange offers an extensive set of B2B tools. Businesses and individuals can get in touch to find out how they can generate additional revenue streams with the platform. Businesses, especially crypto projects, can also count on extensive marketing support and plenty of activities for their users and followers to grow brand awareness and expand their reach.
Main Features
LetsExchange is available as a web service, the platform is customized to be used on mobile devices, too. The main features of the platform are the following:
- No registration is required. It allows users to perform swaps rapidly, with the time spent only on transaction confirmation on a blockchain.
- Non-custodial service. Users don’t deposit their money to the platform, they send their coins directly from their wallets, and the swapped crypto is sent to the wallet of a user.
- A user-friendly interface. With it, people with no experience in the use of a crypto exchange can swap crypto easily. All instructions on how to proceed are displayed in the exchange widget.
- The proprietary technology SmartRate picks the rates among multiple liquidity providers. This is especially beneficial for those who swap significant amounts.
- LetsExchange allows you to make as many swaps as you want, and the upper limits are very high.
- The platform supports over 4,000 coins and tokens across multiple blockchains. Users can swap any supported coin to any other supported coin.
- LetsExchange allows its users to buy and sell crypto (over 160 cryptos) with fiat (60+ fiat currencies).
- The platform supports cross-chain swaps (USDT TRC20 to USDT BEP20).
- Those who prefer to exchange their coins in a decentralized environment can use the DEX mode.
How to Use LetsExchange?
As mentioned before, one of the main characteristics of this platform is ease of use. Most likely, you will understand how to use the platform while proceeding with a swap. However, let’s have a look at how the entire process is.
To swap coins, move to the LetsExchange widget.
In the You Send field, pick the coin you will be selling. Indicate the sum that you will be selling.
In the You Get field, pick the coin you want to buy. The sum of coins that you will receive will be calculated automatically.
Select whether you want to swap your coins at a fixed or at a floating rate. If you choose a fixed rate, you will get the same amount of coins that is displayed in the widget when you start the swap. If you pick a floating rate, your swap will be made at a rate available in the market at the moment when the transaction is confirmed on a blockchain. Thus, if the exchange rate changes, you may get a different amount of coins than the one displayed in the You Get field when you start the swap.
If you have a promo code you can provide it to receive cashback.
After that, you copy-paste the wallet address where you want to receive the exchanged coins. For some coins, you will be asked to provide additional information (a destination tag, meme, or message). Do not ignore this step, otherwise, your money may be lost.
If you want, you can also indicate a refund address. If the swap doesn’t go as expected, your deposited funds will be refunded to that wallet.
Double-check all wallet addresses you’ve pasted. Once you make sure everything is correct, proceed with the swap.
Now, LetsExchange will display a wallet address to which you need to send the coins that you want to sell. Send the exact amount you are swapping, to prevent any problems.
That’s it, now, your coins will be swapped. In the widget, you can track at what stage the transaction is. As soon as the transaction is confirmed on a blockchain, your coins will be sent to your wallet. You can also download a receipt with the transaction details.
Along with swapping crypto, you can also buy and sell crypto for fiat, and use the DEX tab. In each case, you just need to follow the instructions provided by the widget.
Fees
No deposit or withdrawal fees are charged from users as such actions don't take place while swapping cryptocurrencies. There are only two types of fees that LetsExchange users pay: network fees and exchange processing fees. All fees are included in the sum to receive, you don’t pay a single cent on top of it.
Is LetsExchange Safe?
There are no signs that can make us think that LetsExchange is a scam. The platform has been present in the market for several years and has a lot of reviews on such a trusted resource as Trustpilot.
As for the security of the LetsExchange use, the platform offers non-custodial services. It doesn’t store users’ funds, thus, your money cannot be stolen from the platform even if the platform is hacked or has other issues.
Customer support is available 24/7 and always willing to help. The platform’s team actively communicates with users on social networks and other resources and replies to all requests and reviews. Thus, we can conclude that LetsExchange is a legit platform that can be trusted.
Don't waste your time, this is a scam. Took over 1000 from me, they keep saying they are working on it but nothing has changed on the status.
I requested exchange of KSM to ETH, I paid it and it was confirmed in time, however status of exchange transaction did not change and timer ended.
I contacted support about the problem and they answered that there is some problem and they will contact me as soon as cause of problems is found!!!! Really? I have done everything as I supposed to do on my part, why I should wait on their problems???
Fine, I waited couple hours and contacted them again. They told me that they need to contact their liquidity provider and get response from them. What a joke! Again, what it has to do with me???? After couple hours I contacted them again and they told me that they are fixing issue and I will receive my coins "soon".
So, right now it is 1 day and 17 hours as my KSM transaction have been confirmed, total silence from this exchange and no coins. This is scam exchanger! Do not exchange any coins here! They stole from me around $440, so it looks like that is the price of their exchanger. I have all screenshots of exchange transaction of their website and email conversation with support! I will do everything in my power to stop them scamming people!
EDIT: They just again answered that they liquidity provider has problems with BSC and BNB networks, what KUSAMA has to do with BSC or BNB??? Anyway it is clear that this exchanger does not have their own funds, probably ponzi scheme or some sort of that type of scam. When their "liquidity provider" will have problems, you will not see your funds. Your plans are not important, volatility is not important and customers funds can be frozen anytime for unknown time. That's the position of this "exchanger".
I sent money for an exchange, after 8 hours and contacting and speaking with the support they weren't able to exchange my crypto to the other i wanted, i waited a full night, still they weren't able.
I asked for a refund and after 6 hours they weren't able to refund my money back.
The customer support rocks! I contacted them when I didn’t indicate the memo and thought I lost my funds but they found the swap and refunded me everything!
Very responsive customer support. They fixed my swap within a few minutes.
