SwapinPay Review: A Smart Way to Pay Your Bills With Crypto

Are you aware that cryptocurrency transactions are gaining more popularity? As per a report by Visa, their network processed over $1 billion in crypto transactions in the first quarter of 2021, which surged to approximately $2.5 billion in the first fiscal quarter of 2022. This marks a substantial rise in a relatively short span.

If you’re looking for a convenient and secure way to buy goods and services using digital currency, then Swapin could be the perfect solution for you.

In this article, we’ll take an in-depth look at how Swapin works, what benefits it offers, what fees are involved, and what to keep in mind before paying with crypto.

So, read on to learn why Swapin is quickly becoming the go-to choice for those wanting to make personal transactions with digital currency.

What is Swapin?

Swapin is a revolutionary new platform that was founded in 2017 with the mission to bridge the gap between crypto and traditional finance.

It is an Estonian-licensed platform that allows its users to make crypto payments with a direct, instant conversion into EUR to an individual account.

The team at Swapin is committed to providing secure and legally compliant solutions, as they operate under license FVT000088.

Their primary goal is to offer a powerful yet user-friendly platform that helps individuals and businesses accept and spend crypto in a regulated environment.

As it is compliant with European financial service standards available to both companies and individuals, it manages to garner many highly rated reviews on Trustpilot.

Swapin team

The team of Swapin is made up of experienced professionals in different fields, including technology, marketing, and business development.

They are led by Evald-Hannes Kree, who is the CEO and founder of the company.

Part of the core team is also CMO Alexandra Lartey, CPO Edward Rebane, CTO Joonas Honga, and CBDO Kate Voogla, who is in charge of the business development operations.

Julia Tarmisto and Indrek Jõgi provide expertise in law enforcement and ensure compliance with AML regulations. Marge Simo holds an MBA degree and is experienced in project funding and financial management.

On their books, they have a Finance specialist with over 20 years of experience, influential advisors from the industry, and an experienced AML and legal staff.

Benefits of using cryptocurrency for personal transactions

Cryptocurrency can open a world of financial freedom where traditional transactions are no longer the only option. With crypto, you can transfer money quickly and securely to anyone in the world without having to worry about fees or waiting periods.

You also don’t need to provide any personal information, which helps keep your privacy intact. Plus, cryptocurrencies have much lower transaction costs than traditional methods like bank transfers and credit cards. This means that you can save money on fees when sending or receiving funds.

With cryptocurrency, you can also make international payments with ease and without having to worry about exchange rates or conversion fees. Many cryptocurrencies offer advanced features such as smart contracts and decentralized platforms that offer even more convenience for users looking for an alternative way of conducting their financial transactions securely and privately.

SwapinPay crypto to fiat transactions – how does it work?

Swapin makes it easy to transact with cryptocurrency as it offers instant conversion of cryptocurrencies into Euros.  When a client commences a crypto payment, Swapin automatically converts the crypto into Euros at the present exchange rate.

The converted amount is instantly transferred to the connected IBAN account.  In order to finish the setup process, the user has to provide their IBAN account.

Dedicated IBANs from Swapin

With Swapin, you can now access Dedicated IBANs for easy and secure crypto-to-fiat payments, giving you more control over your finances.

These IBANs are available exclusively to EEA (European Economic Area) residents with Basic or Full verification levels. They allow for direct withdrawals and payments directly to a bank account in the customer’s name, eliminating banking limitations.

Swapin’s Dedicated IBANs only work on crypto-to-fiat transactions initiated in their platform, not other types of transactions.

What do you need to use Swapin pay

Swapin KYC

To use SwapinPay, you’ll need to:

  • Submit a valid ID and go through the KYC verification process.
  • With the new technology implemented in their enhanced KYC verification model, it takes just two minutes to verify your identity and documents with AI automation.
  • This enables users to send crypto-to-fiat payments to themselves or any other SEPA bank accounts.
  • After going through a review process, which can last from several hours up to one business day.
  • ‘Basic Level’ customers will be able to transact as much as 2500 euros of combined value through SwapinGet and SwapinPay, too.
  • Thanks to the technology developed by Veriff, customers no longer need to manually input their personal information since it’s gathered digitally from the documents submitted by them.

They are taking security seriously and have partnered with Veriff and Onfido, who are leading verification providers, allowing their users to complete the started KYC procedure in 2 minutes. This gives you the opportunity to make your first transaction almost instantly after signing up.

Swapin manages to simplify the process of using crypto for payments while providing a seamless conversion and transfer process.

kyc swapinpay


At Swapin they understand the value of privacy and control over your digital assets. That’s why their solution works with leading Web3 wallets like: Metamask, Ledger, Trust Wallet, Argent, Crypto.com, Exodus and Rainbow.

By using Wallet Connect, you can make transactions directly from your wallet with only a few clicks without needing to scan QR codes or manually copy-paste the wallet address.

Swapin claims that they will never have access to your private keys, ensuring that your funds are and remain under your full control and preventing any unauthorized transfers.

Swapin Accounts

Based on your needs, you can create a personal or a company account on the Swapin platform.

swapinpay sign up

Who can use SwapinPay?

There are numerous countries that can use SwapinPay. Make sure to check their official website for the list of support countries and regions, or contact their customer support before signing up.


Supported cryptocurrencies

At the time of writing, there aren’t a lot of supported cryptocurrencies, but the most popular ones, like Bitcoin, Ethereum, and Litecoin, are all available. You can also use Bitcoin Cash, Dash, TRX, USDC, USDT, DAI, BNB, and BUSD.


SwapinPay use cases

You can use SwapinPay to pay EUR or GBP invoices with crypto. This option can be used by individuals or companies looking for a seamless way of doing so.

The users of SwapinPay can also transfer money to friends and family even in another country or just use cryptocurrencies for money transfers.

It can also be used as a safeguard to protect your crypto assets by providing a safe, secure, and user-friendly crypto-to-fiat payment solution on their platform. An important feature when using cryptocurrencies for real-world transactions.

Overall it is a non-custodial solution that provides fast payments between crypto and banks.

Swapin fees

Swapin Pay is a great way to make secure payments, and you don’t need much to get started. But what about fees?

Creating a personal or business account is free, while account maintenance comes at some cost. The fee for depositing crypto is at 0%, and the credit card acquiring fees are between 2.0%-2.5%.

Here, you can read more about SwapinPay fees.


Swapin Transaction times

According to the Swapin website, 95% of crypto-to-fiat transactions are processed in 5 minutes or less. Nonetheless, national bank holidays and weekends may affect the completion time for fiat currencies to be transferred to your IBAN account.

Also, the processing time might vary based on the cryptocurrency being transferred and the platform being used.

What to keep in mind before paying with crypto

Before paying with crypto, there are several things to keep in mind:

  • Ensure that your wallet is secure and backed up to protect your funds in case of device failure or hacking.
  • Pay attention to fees associated with transferring crypto assets, as some networks have high fees that can significantly reduce the amount you receive.
  • Keep track of any trade-in records for tax purposes, as digital currency may be subject to capital gains taxes.
  • Keep in mind that cryptocurrency transactions are typically irreversible once confirmed. If you encounter an issue or a dispute, it may be quite challenging to reverse the transaction or recover your funds.
  • Cryptocurrencies are still object to evolving regulations in many countries. The legal standing and protections can differ, and pursuing legal action might be difficult in cases of theft or fraud.


What do clients think of Swapin – Trustpilot reviews

Trustpilot is one of many ways to confirm the reputation of a service or provider as people share their experiences and thoughts on the matter.

With more than 180 genuine reviews, 75% of them being in the 5-star category, it appears that Swapin is pretty good at connecting with its user database. You can check their Trustpilot reviews here.

It’s not all peaches and cream, as there are some 1-star reviews when something does not go according to plan, but the support team tends to reply within a day or so while resolving the issue.

Overall, with a current rating of 4.1 on Trustpilot and 90% of the reviews being 4-star or above, Swapin appears to be doing right by its customers and striving to improve.


Using Swapin for your personal transactions is a great way to take advantage of the benefits of cryptocurrency. It’s easy to use, secure, and cost-effective.

Plus, you don’t need to worry about converting your crypto into fiat – Swapin takes care of it all!

So whether you’re sending money overseas or making quick payments in-store, using Swapin is like taking candy from a baby: fast and effortless!

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