How private crypto swaps work
Coinbest is built around a simple, account-free swap journey: choose the exact assets and networks, review a current floating-rate estimate, confirm the receiving wallet, send funds only to the deposit instructions created for that swap, and follow the status until completion.
1. Choose what you send
Select the crypto asset and network you plan to send from your wallet.
The network is part of the selection. The same ticker can exist on several networks, and each network is treated as a separate exchange option.
USDT · TRC20 USDT · ERC20 USDT · BEP20
These are not interchangeable.
2. Choose what you receive
After you choose the send side, Coinbest shows receive options available for that direction.
Exchange routes are directional. A route that is available from Asset A to Asset B is not automatically assumed to be available in reverse.
The list updates from live exchange availability rather than a fixed catalogue embedded in the website.
3. Enter the amount and review the estimate
Enter the amount you want to send. When the amount and route are valid, Coinbest automatically requests a current floating-rate estimate.
You may see:
- estimated receive amount;
- available minimum or maximum amount;
- network or exchange fee information when supplied for the quote;
- a clear message if the selected route is temporarily unavailable.
The displayed receive amount is an estimate, not a guaranteed final amount. Market conditions, liquidity, and network conditions can change during execution. If the quote becomes invalid before creation, request a fresh estimate.
4. Enter the recipient details
Enter the wallet address that should receive the output asset.
Always check:
- asset;
- network;
- address;
- memo or tag, when required.
Coinbest keeps the selected receive network visible next to the destination field so you can verify where the funds are intended to arrive.
Memo / tag
Some networks need an additional memo, tag, payment ID, or similar routing value.
If Coinbest marks this value as required, do not leave it blank. A missing or incorrect memo/tag can delay or prevent delivery.
5. Review before creating the exchange
Before creation, Coinbest presents a review of the important details so you can check them together:
- send asset and network;
- send amount;
- receive asset and network;
- estimated receive amount;
- recipient address;
- memo/tag when present;
- floating-rate notice.
Creating the exchange generates real deposit instructions. Review everything before confirming.
6. Use only the new deposit instructions
After creation, Coinbest shows the deposit address for that specific exchange.
Send only:
- the specified asset;
- using the specified network;
- in accordance with the amount and memo/tag instructions shown for that exchange.
Do not reuse a deposit address from an older exchange simply because it looks familiar.
Never send a different asset or use a different network than the one shown in the current deposit instructions. Blockchain transfers are generally irreversible after broadcast and confirmation.
7. Keep your Exchange Status link private
Coinbest does not require an account for the normal exchange flow. Instead, the exchange can be revisited through its private Exchange Status access path.
Keep that link private.
Do not publish it in:
- public chats;
- forums;
- social media;
- public support threads.
If you need help, provide the safe exchange reference displayed by Coinbest rather than publishing the private status link.
8. Track the exchange
The customer-facing progress is simplified into four stages.
Send
Deposit instructions are ready and the exchange is waiting for your transfer.
Confirmation
Funds have been detected or the deposit is progressing through the required confirmation/registration stage.
Exchanging
The exchange is being processed and the outgoing transfer is being prepared or sent.
Completed
Coinbest shows Completed only after the execution status confirms completion.
Coinbest does not guess a successful result from elapsed time or an intermediate state.
9. What happens if the exchange cannot proceed normally?
Depending on the exchange state, you may see an error, additional verification requirement, or other action needed before processing can continue.
Coinbest will not invent a refund deadline, fixed deduction, guaranteed resolution time, or guaranteed outcome that is not supported by the actual exchange state.
If additional identity or source-of-funds verification is required, follow only the verification path shown through the Coinbest exchange experience.
Do not send identity documents through unofficial support channels.
10. Safety checklist
Before sending any funds, confirm all of the following:
- The asset is correct.
- The network is correct.
- The deposit address belongs to the current exchange.
- The amount matches the current instructions.
- Any required memo/tag is present and correct.
- The recipient address is correct.
- You understand that the receive amount is based on a floating-rate estimate.
- You have saved the private Exchange Status link.
11. Frequently asked questions
Can I swap crypto without creating an account?
Yes. No account is required for the normal Coinbest swap flow. You can request a quote, create a swap, and use the private Exchange Status path without registering a user profile.
Additional verification may still be required for a particular swap depending on transaction risk, applicable requirements, or exchange conditions.
Is Coinbest an anonymous crypto exchange?
Coinbest uses an account-free swap flow, so you do not need to create a Coinbest account to start a swap.
Account-free is not the same as guaranteed anonymity. Public blockchain data remains visible, and the integrated exchange provider may require identity or source-of-funds verification for a particular swap based on compliance screening. Coinbest does not promise anonymous swaps.
Can I swap crypto without KYC?
No Coinbest account is required to start the normal swap flow, so you can begin a swap without completing KYC up front.
This is not a guarantee of no KYC. Verification may be requested before a transaction can proceed, and may also be required before a swap can complete or be refunded. Follow only the verification path shown by Coinbest for that swap.
What is a floating-rate crypto swap?
A floating rate means the receive amount shown before creation is an estimate based on current market and exchange conditions. The final amount can change while the swap is being executed.
Coinbest currently does not offer a fixed-rate swap mode.
Why does the network matter when swapping crypto?
The same crypto asset can exist on several blockchain networks. For example, the same ticker can represent different network-specific assets.
Coinbest treats the asset and network as one swap choice so you can select the route you actually intend to use. Always match the network shown in the swap instructions.
Is the estimated receive amount guaranteed?
No. The amount shown before creation is a floating-rate estimate. Market movement, liquidity, network conditions, and exchange execution can affect the final amount received.
How do I track a private crypto swap?
After the swap is created, Coinbest provides an Exchange Status path that shows deposit instructions and progress through the customer-facing stages.
Keep this status link private. Do not post it in public chats, forums, or social media.
What are the four swap stages?
Coinbest presents the swap as: Send, Confirmation, Exchanging, Completed.
Completed is shown only when the exchange status confirms completion.
What is a memo or tag, and do I need one?
Some networks require an additional routing value such as a memo, tag, or payment ID. If the selected receive asset requires one, Coinbest will mark the field as required.
A missing or incorrect memo/tag can delay or prevent delivery, so copy it exactly when one is required.
What should I check before sending funds?
Check the asset, network, deposit address, amount, and any required memo/tag shown for the current swap. Also verify that the recipient address you entered is correct.
Do not reuse deposit details from an older swap.
What happens if I send funds on the wrong network?
A blockchain transfer sent using the wrong network may be delayed, unrecoverable, or outside the normal swap flow. Do not send additional funds to try to correct it yourself.
Contact Coinbest support with the safe exchange reference and the public transaction hash, if one exists. Never send your seed phrase or private key.
Can a swap require identity verification?
Yes. Coinbest is account-free for the normal swap journey, but account-free does not mean compliance-free. A particular swap may require identity, source-of-funds, or other information before it can continue, complete, or be refunded.
Follow only the verification path shown by Coinbest for that swap.
Does Coinbest guarantee a refund if a swap cannot complete?
No. Refund eligibility, destination, timing, and amount depend on the actual exchange state, blockchain conditions, compliance status, and applicable exchange rules.
Coinbest does not publish a guaranteed refund deadline or fixed deduction unless one is actually established for the specific swap.
How do I get help with a crypto swap?
Email Support@coinbest.io or contact @Coinbest_io on Telegram.
When contacting support, provide only information reasonably needed to identify the swap, such as the safe exchange reference, assets and networks, approximate swap time, or a public transaction hash.
Never send seed phrases, private keys, wallet passwords, or recovery phrases.
Does Coinbest store my seed phrase or private key?
No. Coinbest does not need your seed phrase, recovery phrase, private key, or wallet password to create or support a swap. Do not send these secrets to anyone claiming they are required for Coinbest support.
Contact support if you still need help.
Start with the route you actually want to use
Choose the send asset, receive asset, and networks first. Coinbest will show the routes and estimate available for that selection.