FAQ SmartSwap
Table of contents
- What is SmartSwap?
- How do I sign up?
- Seed phrase from the wallet
- Internal wallet
- Verification
- First deal
- Disputed situations
- Creating an ad
- Restoring access
What is SmartSwap?
SmartSwap — is the first decentralized p2p platform for exchanging cryptocurrency to fiat and back in the CIS. Sell/buy ads are created by users themselves, and the platform offers a convenient interface to access the smart contract through which the transaction takes place.
SmartSwap is as simple and easy to use as a familiar p2p marketplace, while being much safer for your assets.
Why safer?
Your assets are stored on a personal wallet (either an internal non-custodial wallet or one such as Metamask, Tronlink, etc.).
The transaction takes place through a smart contract. In case of a dispute, the seller and the buyer can involve an independent arbitrator.
The arbitrator examines the deal information provided (e.g., a wire transfer receipt) and assists in resolving the dispute.
Telegram account is the authorization method. It is the user's personal profile on the SmartSwap platform. A deal can be conducted directly in the messenger interface using SmartSwap WebApp. The same interface features are available in the WebApp version as in the browser.
How do I sign up?
Registration on the SmartSwap platform takes a few clicks:
you need to authorize via Telegram and set a password.
Button in the upper right corner with the familiar Telegram messenger logo
- After that, a new tab appears in your browser, which redirects you to the Telegram bot. redirects you to the Telegram bot. Click the Open Telegram application button. If you perform these actions from a smartphone, the bot will launch automatically after you press the Login button and you will be instantly authorized.
Optionally, you can choose to be automatically redirected to Telegram from the SmartSwap website. SmartSwap to simplify subsequent authorizations
The only option in the bot is that it will be hard to miss
You will receive an authorization notification in the opened dialog with the bot
You are authorized on the SmartSwap platform! The only thing left to do is to go back to the site and come up with a password.
Save your password and do not share it with third parties
Congratulations! You have successfully registered your account! The list of available interface features for authorized and verified users can be found in this article.
After creating a wallet, it is important to save the seed phrase (mnemonic phrase) from the wallet. Like your password, it should be kept in a safe place, inaccessible to third parties. The safety of your assets depends on it.
IMPORTANT
- The administration of the resource does not store your password and will not be able to help you recover it in case of loss.
- In the SmartSwap APP bot you will receive notifications about transactions. There you can also conduct the transaction via Web-App.
Once you have successfully authorized, the interface will prompt you to create a wallet and save a mnemonic (seed) phrase from it.
- Click the arrow next to the notification about saving a mnemonic phrase. On the next page, read the warning and select Go to Record Mnemonic Phrase.
It is impossible to create a wallet without generating a mnemonic phrase
It's important to keep the seed phrase a secret
Read all provisions carefully to understand the consequences of losing a mnemonic seed phrase or disclosing it to unauthorized people.
SmartSwap employees will never ask you to disclose a seed phrase
Use a secure storage method for this purpose. Remember that a screenshot or text document created on a work device can be compromised. Avoid storing the mnemonic phrase on the device from which you will be transacting.
Seed (mnemonic) phrase is a sequence of 12-24 random words ubiquitously used for authorization in cryptocurrency services
Click on the words in the same order in which they were presented on the previous screen.
After filling in the table, click on the Done button.
It is important to follow the order in which the words were written down
After the seed phrase is correctly repeated, you will see a message like the image below. Click Done to complete the recording process. mnemonic phrase.
Congratulations, you have just created a non-custodial wallet on the SmartSwap platform
Upon completion, you will immediately be taken to the Wallet section, where all tokens supported by the interface and your balances are listed. It's time to make your first deal!
IMPORTANT
SmartSwap administration does not store your account password and mnemonic phrase, so it will not be able to help you recover them. Their loss will result in a complete loss of access to your wallet and cryptocurrency assets.
Internal wallet
After saving the seed phrase, you have created an internal non-custodial wallet on the SmartSwap platform. It allows you to store, transfer and buy cryptocurrency through the website interface and WebApp in Telegram. At the same time, no one but you have access to your assets.
Where can I find a wallet?
Once you are logged into your account, click on the profile icon in the top right corner and select Wallet as shown in the animation below
When you open your wallet you will see your balance in supported cryptocurrencies
You can replenish your wallet in two ways:
Read more about the buying process in the "First Deal" section of this article
How do I transfer tokens from a third-party wallet?
SmartSwap platform supports different types of cryptocurrencies and chains
The "Receive BTC" button depends on the selected cryptocurrency, Bitcoin (BTC) is selected as an example
- Copy the received wallet address in text format or by means of a QR code. Now you can pass it to the sender or transfer coins from another resource yourself.
How to transfer tokens from an internal wallet to a third-party wallet?
Suppose we need to send 0.01 BNB to address 0x0e0bb**************12151ed*******7d0
STEP 1. Choose the required wallet and click on it.
STEP 2: Enter the amount of the transfer and the recipient's address.
On this page, we see the following:
1. Token and the network over which the transfer will be made.
❗️ Make sure you choose the correct network, check this information with the recipient in advance. Otherwise, the recipient may have a problem with receiving the coins if the transaction goes through the wrong network 😵
Remember that all transactions are irreversible!
2. Here you will see the address of your wallet from which the coins will be sent. You can copy it if necessary.
3. This shows your current balance in cryptocurrency and the approximate amount in fiat currency (changes depending on the current exchange rate).
4. In this field you specify the address of the wallet, to which the coins should arrive as a result of your transfer.
5. In this field you specify the amount you want to send to another wallet. You can use the MAX button to the right of the amount input line to send all the funds from the wallet at once.
6. To make the transfer, you will need to pay the network's commission. The "Blockchain fee" line shows the amount that will be withdrawn from your wallet with the native coin (for example, for the BEP20 network it is the BNB token).
If you don't have a native coin on your balance to pay the commission, you can buy it using our interface. You can also replenish your wallet from another service. Read more about it here.
7. Click the "Send" button to confirm the transfer operation after you have filled in the fields under numbers 4 and 5 (wallet address and amount).
Private key
The wallet created on the SmartSwap platform is cashless, meaning you can manage your funds outside of the platform, through importing a private key.
Read the warning carefully before pressing the button
- After pressing the button, you will receive a private key. You can import it to any service that supports key import.
The private (private) key can be imported into various services and applications
Verification
- After successful authorization on app.smartswap.ru you will be able to start trading only after confirming your phone number.
- You will be prompted to proceed to this procedure when you try to create an ad or respond to another user's ad.
- Verification is as fast as possible, in just a few clicks, as is registration ⚡
Until you are verified, you have access to:
- Creation of a new wallet (at the moment of registration) with saving mnemonic secret phrase.
- Connecting an external wallet to the interface.
- All functions from the Wallet section (sending/receiving cryptocurrency, receiving)
- All functions from the Profile section (set nickname, manage notifications, export mnemonics, etc).
- Viewing ads on the board is for informational purposes.
Once you have been verified, in addition to the above options, you will also have access to:
If you decide to create your first offer on SmartSwap, click on the profile icon in the top right corner, then click the Post offer button (as shown in the animation below).
*Read more about the process of creating an ad here
Click on the Complete Registration button.
You will receive a message from the SmartSwap APP bot in Telegram. Open the received message and click the Confirm phone number button in the bot.
Confirm your action by clicking Share.
You will receive a notification in Telegram that your registration has been successfully completed, after which you can return to the ad creation page to set the parameters you need in your ad and publish it on the board.
Congratulations! You now have access to the full functionality of the SmartSwap interface 👍
In case you do not create your own ad, but respond to an already created ad of another trader on the board, the process of confirming the phone number is the same way, starting with clicking Finish Registration.
First deal
First of all, authorize on the SmartSwap platform using Telegram. Go to the app.smartswap.ru page and click the Sign in button in the upper right corner, as shown in the animation below.
Google Chrome browser is used in the animation - tabs and queries may look different in other browser
In the bot, click the Start button. Then minimize Telegram and return to the browser. Enter the password you specified during registration and click Decrypt.
"Wallet Decryption" is the process of gaining access to a mnemonic phrase by entering a password
You have successfully logged in and are ready to make your first deal.
As an example, we will show how to buy and sell USDT on the BEP-20 (BSC) network.
Pay attention to the chain (network) in which you receive and send tokens. USDT on the BEP-20 chain (BSC network) can be sent only to its corresponding address on the same network
. Select the token you wish to purchase. In our example it is USDT BEP-20.
. Set the currency for which you will buy cryptocurrency. In our example, this is the Russian ruble (RUB).
. Choose the payment method that suits you. We have chosen Sberbank. The most popular payment methods remain regional. The most relevant are bank transfers within the country. For Russia, these are Sberbank, Tinkoff, Alfa Bank, etc. Some people give preference to cash. Personal meetings take place in public places, such as internet cafes.
With us, you can choose any method that is convenient for you
A list of sellers will appear in front of you, showing the seller's nickname, the number of deals he has made, the range of the deal amount and the rate set by the seller. The more favorable the deal rate is, the higher the seller is in the list. We recommend emphasizing the number of deals and the seller's rating.
From top to bottom: deal rate (the more favorable, the higher in the list of listings), range of available deal amount, seller's nickname, number of deals and
After selecting the add that is relevant to you, the following window will appear:
Pay attention to the terms of cooperation
- You will buy - here you need to specify the number of coins you want to buy (section 2 will automatically show the price in rubles that you need to pay to the seller).
- You will pay - here you need to specify the number of rubles you are willing to pay to the seller (section 1 will automatically show the number of tokens you will receive).
- Create draft feal - a button that creates a draft of the deal *.
- Buy - a button that opens a deal with the seller.
- Conditions - a field in which the owner of the ad makes certain requirements to the counterparty (for example, send a receipt after payment, specify a certain comment to the payment, payment by one payment or provide a photo of the card on the background of the deal, etc.).
*If you open a draft, you will have a chat with the seller and the deal rate will be fixed for 30 minutes. During this time you will be able to enter the draft and start a deal with the seller at the fixed rate.
In the draft, in the left tab you will have all the information about the deal displayed and in the right tab you can access chat with the seller
IMPORTANT
Do not start a deal until you have read the seller's terms and conditions. Do not open a deal unless you can fulfill them.
After reading the terms and conditions, start the deal by clicking the Buy button (or the Accept offer button if you've already created a draft).
All deal statuses are displayed in the dialog box and duplicated by the numbered list below it
Do not hurry to transfer to the details specified in the terms of the deal, wait for the actual data in the dialog with the seller
The actual details and the deal amount are highlighted in the dialog in a red frame. It is forbidden to accept the seller's details in other ways for your safety.
Make a bank transfer from your card to the specified details and click Report payment done. If for some reason you cannot make the payment, you need to cancel the deal.
If for some reason the seller does not respond in the dialog and does not close the deal for a long time you can appeal to an independent arbitrator of the platform by clicking the Open dispute.
The status of the deal has changed to "Payment complete". Do not confirm the payment before making the transfer, a dispute may arise
Cryptocurrency has been transferred to your wallet. In the Wallet section you can make sure that the crypto is already on your balance.
Deal successfully completed by seller = coins transferred to your wallet
Disputed situations
IMPORTANT
The dispute is opened in any direction of the deal. The order of actions does not change.
- If after making a payment the seller does not transfer coins for a long time (the buyer does not make a payment for a long time) or you doubt something, click Open dispute.
Do not rush to open a dispute if the seller responds to you in a timely manner and warns you about the delay. Silence in chat combined with a long delay are good reasons for a dispute
- After opening a dispute, you will have a chat with the arbitrator. He will ask you for all the necessary information about the deal. Based on the information provided. Based on the information provided, the arbitrator will decide which side to resolve the dispute.
If you have made a payment and the seller withholds coins and does not respond, the arbitrator will request confirmation of the transfer made
With the help of the payment receipt from the bank's personal cabinet we managed to confirm that the transfer was made and the arbitrator decided the dispute in our favor
Here we will show you how to sell coins as a maker.
Placing an ad to sell tokens is as elementary as buying them
Take into account the current rate of deals on the site to place your ad as high as possible. The more payment methods you accept, the more relevant your ad will be.
The ad has been successfully created. It automatically appears on the bulletin board.
If you wish, you can deactivate it (with the Active switch) to temporarily hide it for display to other users. You can edit the rate, limits and terms of the deal in the ad.
On this page you can once again check and edit the data you have entered
Selling USDT as a maker
The purchase is done in a mirror image manner.
A notification sticker appears next to the profile icon
For the deal, the seller (you) needs to pay a blockchain fee in the native coin of that network (in this case, BNB).
Tip! You can pre-buy the necessary amount of BNB (or other necessary native cryptocurrency) for your currency through our interface from any seller (see the First Deal chapter).), or transfer from another wallet/service to your SmartSwap wallet.
❗️ If there are no coins to pay the commission or their amount on your balance is insufficient, you will not be able to accept the deal.
Once the deal is confirmed, the tokens are automatically reserved
Waiting for blockchain confirmations
- After confirming the deal, enter your payment details in the message line and check the box next to Send payment details.
The requisites will not be sent unless you check this box
- After the buyer clicks the payment confirmation button, you will get a system message Buyer completed payment.
At this stage, you can still challenge the deal if you find that the buyer has not made the transfer
- Check carefully whether the payment has been received. If everything was successful, click Finish the deal. Be careful: the funds cannot be returned after the transaction is completed!
Congratulations, you have successfully completed your first sale!
Restoring access
- If you forget your password but have saved the mnemonic phrase, you can retain access to your account and wallet by importing the phrase and setting a new password.
- If you remember your password but lost your mnemonic phrase, you will be able to log in to your profile and recover the phrase by going through the combinations: Profile >> Customize internal wallet >> Export mnemonics. Even if you don't write down the mnemonic phrase, you can still work on SmartSwap, using only your password. However, we strongly recommend saving the mnemonic phrase as a backup, as it will help you to regain access to your wallet in case of password loss or other problems.
- If you remember both the password and the mnemonic phrase, but lost access to your Telegram, you can import the mnemonic phrase from a new Telegram account. Only profile statistics will be lost, but access to cryptocurrency assets will be preserved.
- If you have lost both your password and mnemonic phrase, but you have access to Telegram, you will still have access to your profile, but your wallet with cryptocurrency assets will be irretrievably lost. You'll need to contact support service to unlink the lost wallet from your profile, after which you will be able to create and link a new wallet.
SmartSwap Security Recommendation
Telegram is the primary authorization mechanism in SmartSwap, so it is important to follow standard security measures for using your Telegram account. Our #1 recommendation is to set a cloud password in Telegram. In the Privacy section, you can set a simple code for additional verification to make sure that the account belongs to you every time you try to log in. We recommend not storing this code in a text file on your computer or in a note on your phone. Instead, it's best to write it on a piece of paper and hide it in a safe place, but the best option is to simply memorize the combination of numbers.