Topic: [ANN] SwapMixer.com - Swap Bitcoin to Litecoin anonymously (Read 995 times)

I think i remember OP saying somewhere that the conversions are one way so that the customers can have 100% confident that the LTC they receive are not tinted.

More conversion options would be good thou. Maybe they will keep adding more with time.

This idea of having an "Hybrid" mixer is good along with the idea of adding more altcoins too, but they should also give the option to bitcoin to bitcoin mixer so that those who need bitcoin at the end of the transcation can also benefit from this service.

I don't think so. I suggested them this (LTC -> BTC, which I would use) and that was their answer:


Which makes sense, but I would still prefer if that was an option. And their LTC isn't exactly "new" anyways.

As you can see on their platform they are some kind of hybrid between an exchange and a crypto mixing service: "SwapMixer is a privacy focused instant cryptocurrency exchange. Unlike traditional exchanges, our reserves are used to complete transactions instantly and all data is destroyed at the end of a session."

Also they do mention that they'll add more altcoins after feedback is received from the users. However I'm curious if they plan to add two-way conversions, so we can exchange LTC to BTC for example.

I do not understand why we get Litecoins after the swap ? If i wanted to swap bitcoins, i should get bitcoins in the end. If i get litecoins, i will have to then exchange them for bitcoins at the exchange and it will involve tx and trading fee. This service is only useful if you want to convert your bitcoins to litecoins and no intention of converting back to bitcoins.

I've got to say that Swapmixer is one of the easiest to use anonymous exchange services out there. I have always been an adept of simplicity and the design and user friendly interface of the website make it so easy even for newbies to mix their crypto holdings. After getting 1 confirmation of my BTC transaction I just clicked refresh and there it was, no delays, no bugs.

A big plus is that your session data is automatically deleted in 25 days or before if you destroy your session manually. They even offer privacy tips on the withdraw tips like how to obfuscate your transactions by making multiple withdrawals at different times of the day and addresses. The BTC-LTC exchange rate was at the market rate so no complaints there. Overall a very convenient and smart service. I recommend it for people who want to make fast and private exchanges between BTC & LTC and soon with other cryptocurrencies as well.

389VhPzFyKs2FufRyf1QQYPNQQVPUiBCV8

P.S. I have posted my review in the service thread as well. Hope it's ok.

First I want to say thank you for the second payment you sent after I posted my review.  Much appreciated that you allowed me to participate.

I do still have a question about this:


When you say the litecoin is "New" it makes me think that you are mining litecoin yourself, and your reserves contain only mined coins.  Is this an accurate assumption?

In response to the first time asked the question you wrote this:


Which sort of contradicts the claim the the litecoin is "new."  If it's coming from an exchange it's not exactly new.  The fact that it comes from an exchange might make it harder to trace, but the bitcoin for which it's exchanged could be traced to your service.  At this point we have to trust that you are indeed purging all session information.



This is actually my bigger concern.  And please don't take this as an accusation, but you are a new member, offering a new service.  It's only expected that some of us are going to be skeptical.  My fear is that, like some other mixing services this is a selective scam in the making.  It wouldn't be the first time a mixer allowed small transactions go through without issue, then the minute some one tries to mix 10, 5, or even just one bitcoin, the accusations of scam start coming out.

I mentioned in my review that a letter of guarantee signed with the address you provide to the sender would go a long way to legitimize your service.  If nothing else it would eliminate your ability to make the claim that the customer sent the bitcoin to the wrong address, which always seems to be the excuse used by the selective-scam mixing services.

I'll be 100% honest; without a letter of guarantee I would never use your service.

More than 15 users (which is their limit) already applied for that.

And it wouldn't be for you anyways:

is this service still available? I would like to test the service and give honest feedback. I've seen some people already posted their reviews and they seem positive. let me know if you want me to do it too.

Thanks.

Here is my Review;
Positives

- The swapping process is pretty quick after 1 confirmation of BTC. I was able to receive my LTC in less than 3 minutes.
- The only fees involves is transaction fees which is very awesome compared to different coin swapping services that charge some service fee plus slippage rates
- Instructions around the swapping process are pretty easy to read and understand even to a new user.

Suggestions

- I think within the different tabs of back up, deposit, swap, withdraw, destroy. There used be something like "Next" buttons to give users directions of what to do next so that one does not have to guess by clicking on the tab it self.
Something like this;



- I don't know whether it's because JavaScript is absent but lemme suggest it anyway (don't know much web designing)
Isn't it possible to have the page automatically refresh once one confirmation has been detected just like it's able to detect an incoming payment that has not yet been confirmed?

Or once if it detects that there has been one block confirmation, then it can send and alerting message on the page to notify the user to then refresh the page

- I would also suggest to remove the swap coins button once swap is complete and there is zero balance of coins to be swapped 



BTC Address: bc1q49dzyw24n7fl2gds3gqkkmh075te7dx9svjr2u
Thanks for the opportunity given out to test out your website. I will be frequently using it since i am a huge fan of making transaction in LTC
Cheers

We get revenue from donations. Bigger and more regular users tend to donate because it improves their privacy by obfuscating the amount of coins they started with. Each donation address is randomly generated too.

We are a service though, if it so happens to be that in the future donations are not enough to sustain the service we will take a look at other options. Ads are not a option though.

I have been commissioned to provide a review for this service, and here're my observations:

1) It works as advertised for small amounts.  I didn't risk a large amount of bitcoin, so I have no idea how much the service is capable of exchanging/obfuscating.

2) The UI is simple, and I find that to be a positive thing.  I'm not concerned that there isn't much fanfare to the site.

3) There does seem to be a small trade penalty, at least according to the prices I observed at coinmarketcap at the time of the transactions.

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More in depth review:

The first thing I noticed when I tried to visit the site at work is that my company's firewall blocks it, claiming the security certificate is invalid:



I was able to visit the site once I logged out of my company network, and the certificate appeared to be intact.  I didn't dig too deep into this discrepancy, a task I may undertake in the future.

I conducted two trades on the site, and was able to extract my litecoin both times.  Both trades were for 0.0001 BTC.  Both times I received about 1.5% less LTC than the price at CMC suggests.  I didn't see the exchange rate published on the site which to an extent contradicts this claim:


Furthermore, 1.5% is a pretty small discrepancy and could merely be due to different exchanges being used to establish pricing.  However, it could also be a contradiction of this claim:


Withdrawing the LTC is pretty straight forward, and fees can be manually adjusted from 0.0001 to 0.001 LTC.  The site does automatically suggest a fee, presumably offering the most efficient rate at the time.

There's a feature that allows you to destroy the session once it's been completed, which I used after conducting the first trade.  It appears to have worked, I was not able to restore that session after destroying it.  Whether all the information pertaining to the session has actually been purged from the server I do not know.  Something that obviously requires a level of trust.

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What I would like to see:
The site provides a bitcoin address to send your coins, but there is no letter of guarantee, or a signed message reassuring the sender that the service indeed owns the address.  This is a safety measure that I believe would help establish legitimacy.

I would also like to see the website's certificate issue fixed.

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Please send the remainder of my review bounty here: bc1q2nwf4njwkpeuyycx5a95nj6mf8m45djdk863xs

I haven't used this service yet but reading the first post, you said, there is no service fee. Then what do you guys get from this? Any source of revenue?
I don't even see a single ad on the website (which is great btw) but it just bugs me as to why you guys are doing this for free.

I used this service in the amount of 0.00246 bitcoin. I liked the simple interface, and also due to this, the quick work of the site. My deposit was detected instantly after updating the page, as it was said in the instructions. And after one confirmation, he was credited to the account. Then, with one click of the mouse, I swapped bitcoin to litecoin and after that I brought coins to my litecoin  wallet. I liked that I immediately received a transaction link. Actually, thanks to this service, you can exchange coins for a litecoin, almost without loss (my commission was about 30 cents). For example, if you need to withdraw money from some site, then it is better to do it in litecoin, because the commission for withdrawing from this coin is minimal and you can save on this. In general, I recommend this service. Everything here is transparent and as fast as possible, your transactions will not be lost.

In the future, I would like to see more popular pairs and the possibility swap of not only bitcoin for other coins.

BTC addy 12jGN6Sk1kf7QfWDhyPiJzDPz2zDM2xucg

I deposited 0.00075btc, the fee of the bitcoin is almost 0.00004btc so the exchange receive 0.00071btc.
The transaction was fast no hassle just waiting for bitcoin confirmation and after that, I receive my bitcoin there and immediately trade it with LTC.

I have a few pointers to remember when you are going to use SwapMixer:

It's not advisable for small trade just like 0.00075btc
           When I trade I receive 0.11160967LTC, The problem is not the mixer but bitcoin transaction fee, So basically the bitcoin transaction fee will eat your funds if you are going to trade with that amount.
           For big trades, I highly suggest Swapmixer their fee is incredibly low and the transaction is very fast! Just deposit and withdraw simple as that.

Am I going to use it?
           Yes! Their system is fast and secure, so why not? I will use it for my big transactions in the future.

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Feedback about: User Interface

The UI is very simple, but it needs more update because, personally when you first see it, it's not convincing to use. The UI is just like any other dead website or scam website. Just fix your UI and I can guarantee many traders that need LTC is going to use your service.
This is the only negative thing that I see in the website.

For overall, it's all good, because yes! it's to simple, but the navigation is very easy to use and it's user friendly! After you see the website you will instantly know what you are gonna do next. You just need to fix the UI but everything is just fine and awesome!

btc wallet add: 33gZb8CuaGauYtXFaEkuapzHjo5SuhvgjW

I tried to deposit around 0.0007 BTC.

First, it really depends on how much satoshi/byte you set when sending BTC from your address to the SwapMixer BTC receiving addy. The higher the better.

Second, since it only needs 1 confirmation on recieving addy of SwapMixer, I am able to swap or convert my available BTC to LTC right away.

It does not take me 1 minute to swap it with LTC and withdraw it to my LTC wallet.

About the price, I tries to compare the price of LTC if I will exchange it to some major exchange than swap it with SwapMixer and found out that the difference is very little and I am really glad about it since using SwapMixer does not take any transaction fees for swapping.

Using SwapMixer is extremely convenient for me compare using some exchanges which needs some sign up for account, KYC, transaction fees.

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Personal feedbacks (User Interface):

• Responsiveness - Since I am using my mobile phone, there's some factor about responsiveness like I need to zoom first my screen because some inputs/text are tiny, I can't see them clearly.
• Redirect or navigate the user to next tab right after the current tab(transaction) is done. E.g, On swap BTC to LTC, after I clicked SWAP COINS. I think it's much better to redirect/navigate the user to next tab(withdrawal).
• More frontend(UX) tweaks to look it more become friendly user, like some alert/cards to notify the user what is going on.
• I think it's much better to display the history of swap if the session is still not destroyed?

Frankly speaking, I don't like the graphical design of SwapMixer. I deposit 0.0001 BTC it takes 13 minutes to confirm my deposit. I like the verification system of the one confirmation. Swap & withdraw was too much fast, it takes less than a second. I would like to see the swap option in ethereum. Overall experience was quite good.

Users deposit bitcoin to swap to litecoin. The litecoin they receive come from our reserves. Eventually BTC will accumulate in our wallet, which will later be exchanged to replenish the litecoin reserves.

If the reserves run low, the site will not allow creating a new session until it is replenished. Deposit limits also help control the outflow of funds. The current deposit limits are lower than what we can support, once we have been running for more time without incident, we can increase the limits .

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Review service has started.

https://bitcointalksearch.org/topic/open-get-paid-00015-btc-to-review-swapmixercom-anonymous-btc-to-ltc-swaps-5196634

SwapMixer team

Can you please elaborate on this:  


Where did the litecoin in your reserves come from, and if your service starts to get a lot of use, how will you be able to keep up with demand?

That is a good question.

Problem with this is that we want users to feel confident that the LTC they receive is always new. The only way to accommodate this is by not allowing LTC deposits from users.