Pros

• Fully functional over Tor, even with the strictest settings
• Guarantee of no KYC
• You can earn a profit by providing WizardSwap with liquidity

Cons

• Limited liquidity
• Overly simplistic design

Rating

★★★★★

WizardSwap is an instant exchange centred around privacy coins. It was launched in 2020 making it old enough to have weathered the 2021 bull run and the subsequent bearish year.

Liquidity

Right off the bat, we'll start off by pointing out that WizardSwap relies on its own liquidity reserves, meaning they aren't just a reseller of Binance or another exchange. Combine that with their policy of not just not requiring KYC, but even promising they would rather refund a user their original coins, than force them to undergo any sort of verification.

On the one hand, full control over all their infrastructure gives users the most privacy and conviction about the KYC policies remaining in place.

On the other hand, this means the liquidity available for swapping isn't huge. At the time of testing we could only purchase at most some 0.73 BTC with XMR.

It's clear the team behind WizardSwap is aware of this shortfall and so they've come up with a solution unique among instant exchanges. They let you, the user, deposit any of the currencies they support into your account and earn a profit on the trades made using your liquidity.

Trading

Fees on WizardSwap are middle-of-the-pack. The normal fee is 2.2%. That's more than some exchanges that reserve the right to suddenly demand you undergo verification, yet less than half the fees on some other privacy-first exchanges. However as we mentioned in the section above you can earn almost all of that fee (2%) if you provide liquidity to WizardSwap.

Crucially in the current Bitcoin fee market - these fees are constant regardless of how much, or how little, you send. This is in stark contrast with some of the alternative swap providers that will charge you a massive premium when attempting to swap small amounts of BTC away.

Test trades

During our testing we performed a few test trades and found that every single time WizardSwap immediately detected the incoming transaction and the amount we received was exactly what was quoted before depositing. The fees were inline with what WizardSwap advertises.

UI & Tor

WizardSwap can be visited both via your usual browser and the privacy-centric Tor Browser. Should you decide on the latter you'll find that the website adapts its functionality to operate even within the confines of the "safest" settings available in the Tor Browser (meaning no JavaScript).

However, even with functionality adapted you'll miss the live support chat, as well as automatic refreshing of the trade page. The lack of the first means that you will have no way to contact support from the trade page if anything goes wrong during your swap. Furthermore, if you were to accidentally close the browser during the swap you'll have no easy way to return to the trade. For this reason we suggest when you begin a trade to copy its url someplace safe, before sending any coins to WizardSwap.

The UI you'll be greeted by is simple, perhaps overly so, and easy to navigate. It works well not just across browsers, but also across devices. You won't have any issues using this exchange on your phone.

Getting in touch

The team behind WizardSwap appears to be most active on X (formerly Twitter): https://twitter.com/WizardSwap_io

If you have any comments or suggestions about the exchange make sure to reach out to them. In the past they've been very receptive to user feedback, for instance a few months back WizardSwap was planning on removing DeepOnion, but the community behind that project got together (https://deeponion.org/community/threads/wizardswap-io-news.46713/) and after reaching out WizardSwap reversed their decision (https://twitter.com/WizardSwap_io/status/1732814285242290380).

Disclaimer

None of the above should be understood as investment or financial advice. The views are our own only and constitute a faithful representation of our experience in using and investigating this exchange. This review is not a guarantee of any kind on the services rendered by the exchange. Do your own research before using any service.