Nimiq Pay app now supports BTC Lightning!

Launching SuperSimpleSwap: The easiest way to get into crypto

What good is a decentralized monetary system if the entry and exit are centralized, custodial, and prone to censorship?

28 Oct 2021


5 min

If you're reading this article, chances are high that you are a Nimiq supporter and know about OASIS, Fastspot, TEN31 Bank, and most likely you know the Nimiq Wallet as well. There are many entities and technical concepts involved that, together, enable what we consider a true innovation: Swap between crypto and conventional currency in a self-custodial and decentralized way.

But what makes Nimiq special is not only the ability to produce technological innovation. It's the ease of use that turns complicated tech into real-world value for everyday humans. And we're just getting started.

Super simple swaps

Today, we are introducing a unique product made by Nimiq: a standalone service that aspires to be the easiest, fastest, safest, and most accessible way to buy and sell crypto. And on top of that, it'll be one of the cheapest as well. That's a lot of superlatives but we're absolutely convinced we have the tech and ability to deliver on each one. But before we get into them, let's first talk about the product.

A signup-free web app that puts together Fastspot, TEN31 and Nimiq OASIS to enable the unique concept of a fiat smart contract as a single service: one that provides self-custodial atomic swaps between crypto and conventional currency. No additional wallet needs to be created to use the service: any existing wallet is supported. The service currently supports EUR, BTC, and NIM, with more currencies being added in the future.

By connecting the basic touch points of users with fiat and crypto – the bank account and the crypto wallet – this service removes intermediaries, cuts out the middlemen and avoids the costs and centralization that come with them.

In short, it will be a super simple way to swap fiat and crypto. That's why we call it SuperSimpleSwap.

Creating a great user experience

SuperSimpleSwap, or S3 for short, is itself the combination of multiple complex and interconnected parts into a super-simple user experience. People new to crypto will be able to use it with ease because of its simplicity, while more tech-savvy users will appreciate the high degree of decentralization — and both will enjoy the extra level of security.  

From absolute beginner to owning crypto in 5 minutes

Here is all it takes for you to hold your own BTC or NIM. Visit and

  1. Set the amount of crypto you want to buy
  2. Enter the bank name you're going to be paying from
  3. Enter the wallet address for receiving crypto or create a new Nimiq wallet supporting NIM and BTC on the fly
  4. Click 'Start Swap'
  5. Send a SEPA Instant transaction to the indicated bank account
  6. And receive your crypto within minutes.

Did you notice that no sign-up process was needed to do that? So, in conclusion, crypto can now be bought and sold directly from and to your bank account! No exchange in-between, no centralized service keeping your keys, no identification process up-front.

The costs? A mere 1.5% of the swapped amount!

How does it work?

In short: The OASIS scheme, implemented by TEN31 Bank, enables Euro smart contracts. Euro smart contracts enable crypto to Euro atomic swaps. 

The costs? A mere 1.5% of the swapped amount!

A while back, Nimiq released this blog post about the same tech being used in the Nimiq wallet. If you want to get into the weeds, it describes the underlying process in great detail.

SuperSimpleSwap and Nimiq

Instead of applying the Nimiq-branding, we gave S3 a neutral look to appeal to all crypto users equally. We all know how sensitive Bitcoin maximalists can be when it comes to other crypto projects. In a similar vein, users also don't have to create a new wallet with S3, they can use the wallet they know and love. All wallets work with SuperSimpleSwap.

Similar to other implementations of Nimiq OASIS, all swaps directly benefit Nimiq — regardless of the assets being swapped. The fee covers all costs created by the swap and retains a margin for potential referral partners. The rest is used to buy and lock NIM off the market. The more adoption, the more NIM will be locked and taken off the market, creating scarcity.

More to come

Right now, SuperSimpleSwap supports Euro but we are working on adding more fiat currencies in the future.

In Europe, we can use the new SEPA Instant network to allow swaps to take place in minutes. Not all banks are connected in Europe yet, but the number is constantly growing. You can find more details here.

At the same time, more banks worldwide are working on similar schemes to enable near-instant wire transfers between banks. We are closely monitoring the space and will reach out to new networks as they become available. We are already in conversation with the central bank in Costa Rica, which could give us access to Central America.


Right now, swaps are limited to $1000 per month, roughly €800, without requiring any additional identification process, also known as KYC. It's a reasonable amount to get started, but of course we are working on making it possible to swap even more, while at the same time complying with existing anti-money laundering requirements.

While we're excited to release SuperSimpleSwap today, we're far from done. Here, without any chronological order, are some concrete next steps we're planning to take to increase S3's functionality:

  • Offer an embeddable and customizable widget for third parties
  • Add a referral program for partners, influencers and anyone who wants to promote S3
  • Add more fiat and more cryptocurrencies
  • Add a 'pro feature' that allows for higher limits after passing a KYC procedure

That was a lot of information, but in the end there's no better way to explain what S3 is than to try it out for yourself. So head over to and make your first atomic crypto-fiat swap!

Happy swapping!

Team Nimiq


None of the statements must be viewed as an endorsement or recommendation for Nimiq, any cryptocurrency, or investment product. Neither the information, nor any opinion contained herein constitutes a solicitation or offer by the creators or participants to buy or sell any securities or other financial instruments or provide any investment advice or service. All statements contained in statements made in Nimiq’s web pages, blogs, social media, press releases, or in any place accessible by the public, and oral statements that may be made by Nimiq or project associates that are not statements of historical fact, constitute “forward-looking statements”. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual future results, performance, or achievements to be materially different from any future results, performance, or achievements expected, expressed, or implied by such forward-looking statements.