SimpleSwap vs THORChain
THORChain has the higher grade on both axes: Safety 5.9 against 5.0, and Privacy 8.5 against 2.9.
SimpleSwap
Instant swap service with a broad coin list and an explicit freeze clause
Privacy
2.9/ 10
Poor
Safety
5.0/ 10
Caution
ID on risk flag KYC 3 Docs reviewed Full review →
THORChain
Cross-chain DEX protocol for native asset swaps, with an official swap interface
Privacy
8.5/ 10
Excellent
Safety
5.9/ 10
Fair
ID never required KYC 0 Docs reviewed Full review →
Side by side
| SimpleSwap | THORChain | |
|---|---|---|
| Category | Instant Swaps | Instant Swaps |
| KYC policy | ID on risk flag | ID never required |
| Custody | Custodial | Non Custodial |
| Sign-up | No account needed | No account needed |
| Open source | No | Yes |
| Tor onion address | No | No |
| Coins | BTC, ETH, XMR, USDT, LTC, SOL, XRP, TRX | BTC, ETH, LTC, BCH, DOGE, ZEC, SOL, RUNE |
| Pay with | Crypto, Monero | Crypto |
| Fees | Fee built into the rate; returning frozen funds costs 1% (minimum $100) per terms | Source-chain gas, outbound gas and a liquidity fee that varies with swap size and pool depth (per FAQ) |
| Founded | 2018 | Not published |
| Not available in | US, UK, most EU states, China, India, Japan and sanctioned countries (terms s.4.3) | Site terms exclude sanctioned jurisdictions and those flagged by FATF; the FAQ says the protocol has no geographic restrictions |
| Incidents on record | 0 | 1 |
| Published tests (180 days) | 0 | 0 |
Only SimpleSwap
Accepts MoneroThird-party liquidityAML screeningMay request IDExcludes US usersClosed source5+ years operatingRuns an affiliate programmeRefund without ID
Both
No registration
Only THORChain
No email neededNo phone neededOpen sourceNon-custodialAnonymous operator
Where they sit among instant swaps
Questions
Is SimpleSwap or THORChain safer?
THORChain has the higher Safety grade: SimpleSwap 5.0, THORChain 5.9, out of 10.
Does SimpleSwap or THORChain require KYC?
SimpleSwap is KYC level 3 (ID on risk flag). THORChain is KYC level 0 (ID never required).
Which has more incidents on record?
SimpleSwap has 0 and THORChain has 1 documented incident in the registry.