Most coins lost in swaps are lost to preventable mistakes, not hacks: the wrong network, a wrong or tampered address, a missing memo, or a fake website. The checklist below takes about a minute and covers each of them.
It applies to any swap service. Where the details matter, it describes how the SwapRocket crypto exchange handles them.
The 60-Second Swap Safety Checklist
Before you send:
- Check the site. Type the address or use your own bookmark. SwapRocket lives only at swaprocket.io.
- Match the network on both sides (USDT on Ethereum, Tron and BNB Chain are three different assets).
- Verify the receiving address: first six and last six characters.
- Check for a memo or tag (XRP, XLM and some other coins).
- Clear the minimum with some margin.
- Know the rate type. A floating rate can end above or below the estimate.
- Leave coin for the network fee in the sending wallet.
While the swap runs:
- Save the swap ID and the TXID (transaction ID) of your deposit.
- Wait for confirmations. Do not send a second deposit.
After the swap:
- Confirm the arrival on a block explorer or in your wallet.
- Keep a note of the amounts, addresses and TXIDs.
Why People Lose Coins in Swaps
A swap is like international post. The address is the street address, the network is the country and a memo or tag is the apartment number. Get one wrong and the parcel goes somewhere else, or nowhere.
The five mistakes behind most losses:
- Wrong network. USDT sent on Tron to an address that only exists on Ethereum does not arrive. The two networks are separate systems.
- Wrong address. A paste that went wrong, an address accidentally edited, or clipboard malware that swaps in an attacker's address.
- Missing memo or tag. Exchange accounts for coins such as XRP and XLM share one address and use the memo to tell customers apart.
- No allowance for fees. You try to send your whole balance and the wallet cannot pay the network fee, or the amount that arrives is below the minimum.
- A fake site. Lookalike domains and paid search ads copy real swap services and show the attacker's deposit address.
If this is your first swap, read your first crypto swap, step by step alongside this checklist.
How the Risks Differ: CEX, DEX and Swap Service
| Option | Custody | KYC | Used for | Main risks |
|---|---|---|---|---|
| Centralized exchange (CEX) | The exchange holds your funds | Usually required | Frequent trading, order books, fiat | Account freezes, withdrawal delays, exchange failure |
| DEX on one chain | You hold your funds | None | Tokens on the same network | Slippage, malicious token approvals, fake tokens |
| Swap service across chains | You hold your funds until you send the deposit | None for standard swaps; a flagged transaction can be held for verification | Wallet-to-wallet swaps between coins and chains | Wrong network or address, confirmation delays, fake sites |
SwapRocket is in the third group. It is non-custodial and needs no account, no email and no identity documents for standard swaps. How no-KYC exchanges work explains the model and its limits.
Before You Send: Eight Checks
1. Confirm you are on the real site
Phishing copies of swap sites are common. Type the domain yourself or use a bookmark you made, and do not follow links from ads, direct messages or search results you have not checked. No legitimate support team will ever ask for your seed phrase or private key.
2. Confirm the asset and its version
Coins with the same ticker can be different assets:
- USDT exists on Ethereum (ERC-20), Tron (TRC-20), BNB Chain (BEP-20), Solana and more.
- USDC also exists on several networks.
- Wrapped assets such as WBTC are not native BTC.
If you are not sure what you hold, check the network label in your wallet. The supported cryptocurrencies page shows what SwapRocket can exchange.
3. Match the network on both sides
Two rules cover it:
- Select the version you actually hold as the coin you send.
- Select the version your receiving wallet supports as the coin you receive.
In a cross-chain swap such as BTC to ETH, the swap page tells you where to send the BTC, and the ETH is paid to the Ethereum address you entered. SwapRocket checks the destination address against the selected network before a swap can start, but an 0x address is valid on Ethereum, BNB Chain and other EVM networks alike, so read the network label as well.
4. Verify the address
Do not glance at the first two characters. After pasting, compare the first six and last six characters with the address in your wallet. For a large amount, compare on a second screen. Copy addresses from your own wallet, never from a chat or a search result.
5. Check for a memo or tag
XRP (destination tag), XLM (memo) and some other coins use an extra field.
- Receiving to an exchange account: enter the tag the exchange gives you, or the coins arrive without being credited to you. On SwapRocket the tag field is optional and is needed only in this case.
- Receiving to your own wallet: leave it empty.
- Sending the deposit: if the swap page shows a memo next to the deposit address, include it in your transaction.
6. Clear the minimum with a margin
Each pair has a minimum, and some have a maximum. If you send from an exchange account, its withdrawal fee is taken out of the amount, so less arrives than you typed. Leave a comfortable margin above the minimum.
7. Know the rate type
- Floating rate: the final amount follows the market until your deposit confirms.
- Fixed rate: the amount is locked for a short window, usually at a slightly worse rate.
SwapRocket uses a floating rate only. The estimate already includes the exchange fee and the payout network fee, and the final amount can end slightly above or below it. More in crypto swap fees explained.
8. Leave room for network fees
Your wallet pays the network fee on the deposit.
- To send an ERC-20 token you need a little ETH for gas. The same applies to TRX on Tron and BNB on BNB Chain.
- A Bitcoin transaction sent with a very low fee can sit unconfirmed for hours. A wallet that supports fee bumping lets you fix that.
While the Swap Runs
Know what normal looks like
A typical swap takes 5 to 30 minutes. The time is set mostly by how fast the coin you sent confirms, so a Bitcoin deposit takes longer than a Solana or Tron one, and longer still when the network is congested. A swap that is still waiting for confirmations is not lost.
Save the swap ID and the TXID
The swap ID identifies the order and the TXID is the receipt for your deposit. Note both as soon as you have them. Support will ask for them, along with the addresses and the amount.
Do not send a second deposit
A second transaction to the same deposit address does not speed anything up and makes the swap harder to reconcile. If you are worried, check the status on the swap page or contact support with the TXID.
Read "pending" correctly
The provider waits for a set number of confirmations before paying out. That is risk management, not stalling. If the deposit itself is unconfirmed, the cause is on the blockchain: see why crypto swaps get stuck.
After the Swap
Confirm what arrived. Check the coin, the network and the amount. For a stablecoin, check that it is the one you intended (USDT or USDC) on the network you intended.
Keep a record. Date, what you sent, what you received, the TXIDs and the destination address. It makes any later support request, and your own tax records, much easier.
Mind your on-chain trail. A swap without an account is still two transactions on public blockchains. Use a fresh receiving address where your wallet supports it, and do not post TXIDs publicly.
When Something Goes Wrong
"I sent on the wrong network"
Stop and write down the TXID and both addresses, then work out exactly what was sent where.
- To a swap deposit address: email support with the swap ID and TXID. Recovery is sometimes possible, is not guaranteed and can carry a fee.
- To an exchange account: contact that exchange. Some can recover the funds, often for a fee.
- To your own wallet on another EVM network: the coins are usually at the same address on the network you sent on. Add that network in your wallet to see them.
"My swap is stuck on pending"
Look up the TXID in a block explorer. If the deposit is unconfirmed, the network is slow or the fee was too low. For Bitcoin, RBF transaction acceleration explains how to bump the fee.
"I received less than expected"
The usual causes are a floating rate that moved while the deposit confirmed, or a deposit that arrived smaller than planned because an exchange deducted its withdrawal fee. Next time, swap when the market is calm and check the estimate on the pair page first, for example the BTC to USDT exchange.
"I sent from an exchange and nothing has arrived"
Exchange withdrawals can wait in manual review or batching before they reach the blockchain. Until the exchange gives you a TXID, the swap service has nothing to see. Sending from your own wallet avoids the wait.
Using SwapRocket Safely
- Check the estimate first on the exchange page or on a pair page such as the ETH to USDT exchange.
- Send from a wallet you control and receive to a wallet you control. SwapRocket never holds a balance for you and never asks you to connect a wallet.
- Add a refund address. If a swap cannot complete, the deposit is returned there, minus network fees.
- Expect screening. The licensed liquidity provider that executes the swap screens transactions and can, rarely, hold a flagged one and ask for verification.
- Get help with the swap ID ready. Start with the FAQ, then email support@swaprocket.io.
Frequently Asked Questions
What is the most common way to lose coins in a swap?
Choosing the wrong network for a token that exists on several chains, such as USDT. The next most common are a wrong destination address and a missing memo or tag when receiving to an exchange account.
Can a crypto swap be reversed?
No. Blockchain transactions are final once confirmed. If a swap cannot be completed, the deposit is returned to the refund address you entered, minus network fees, but a completed payout to a wrong address cannot be pulled back.
Do I need a memo or tag for my swap?
Only for coins that use one, such as XRP and XLM, and only when the receiving address belongs to an exchange or other shared account. For your own wallet, leave the field empty.
How do I know a swap site is the real one?
Check the domain character by character and reach it by typing it or from your own bookmark. Be suspicious of ads, links in direct messages and anyone who contacts you first offering support.
Is a no-KYC swap safe?
The account-free model removes some risks: there is no account to freeze or breach, and no stored identity documents. The risks that remain are your own errors and fake sites, which this checklist addresses. No-KYC also has a limit: the liquidity provider can hold a flagged transaction and ask for verification.
Related Reading
- Your first crypto swap, step by step
- Why crypto swaps get stuck, and how to fix them
- What a "no fee" crypto swap really costs
Start a Swap
Run the checklist, check the estimate, then send from your own wallet.
