SideSwap Review: In‑Depth Look at the Liquid Network Crypto Exchange

Quick Summary

• SideSwap is a non‑custodial, peer‑to‑peer exchange that runs exclusively on the Liquid Network.
• It uses atomic swaps and Confidential Transactions to keep funds and amounts private.
• No KYC is required for standard swaps, but institutional tokenized securities are supported.
• Liquidity is lower than multi‑chain DEXs, but the platform excels for Bitcoin‑based assets and securities.
• Fees are modest (0.1‑0.2% per swap) and the mobile app received its latest update in July2025.

SideSwap review: If you want a Bitcoin‑centric, privacy‑first trading venue that lets you keep full control of your private keys, SideSwap might be the right fit. Below we break down how it works, what it supports, and how it stacks up against other no‑KYC platforms.

What is SideSwap?

SideSwap is a peer‑to‑peer crypto exchange and self‑custody wallet built on the Liquid Network. It was created as settlement infrastructure for the Liquid sidechain, giving Bitcoin users a fast, confidential way to swap assets without ever handing their funds to a third‑party custodian.

Core Technology: Privacy, Atomic Swaps, and Self‑Custody

Confidential Transactions hide transaction amounts and asset types on the Liquid blockchain provide the privacy layer that sets SideSwap apart from regular Bitcoin swaps. Combined with atomic swap a trustless exchange method where both parties must fulfill the trade simultaneously, or it never happens, the platform guarantees that you never deposit funds into a custodial pool.

Because the wallet is non‑custodial, your private keys stay on your device at all times. This eliminates the counter‑party risk that plagues centralized exchanges.

Asset Coverage on SideSwap

The exchange supports a curated set of Liquid‑based assets:

• Bitcoin (BTC) - the native Bitcoin network.
• Liquid Bitcoin (L‑BTC) - a pegged Bitcoin token on the Liquid sidechain.
• Liquid USDT (L‑USDT) - a stablecoin issued on Liquid.
• Blockstream Mining Notes (BMN) tokenized mining revenue shares issued by Blockstream.
• CMSTR MicroStrategy‑backed tokenized securities.

These tokenized securities make SideSwap attractive for institutional and sophisticated retail investors who want Bitcoin‑based exposure to traditional financial instruments.

Getting Started: No‑KYC, Step‑by‑Step

1. Download the SideSwap mobile app from the Google Play Store (iOS version available via direct APK).
2. Open the app - there is no sign‑up form or email verification required.
3. Generate a new wallet; the app will store your seed phrase securely on your device.
4. Fund the wallet with BTC, L‑BTC, or any supported asset using a standard Liquid address.
5. Select the asset you want to trade, enter the amount, and confirm the atomic swap. The transaction settles instantly on the Liquid Network.

Because there is no KYC, you can start swapping within minutes. However, if you plan to trade tokenized securities, the platform may request additional proof of accreditation in line with regulations.

Security and Privacy Assessment

SideSwap’s security model rests on three pillars:

• Non‑custodial design: Your private keys never leave your device, removing the single point of failure that centralized exchanges have.
• Confidential Transactions: Observers cannot see how much you are swapping, protecting trade size privacy.
• Atomic swap logic: Trades either complete fully or not at all, eliminating “stuck” funds.

Independent audits of the Liquid Network’s codebase have not revealed critical vulnerabilities, and the network’s two‑day settlement finality adds an extra safety margin compared to Bitcoin’s ~10‑minute block time.

How SideSwap Stands Against Other No‑KYC Platforms

SideSwap’s niche focus gives it a privacy edge, but its liquidity pool is far smaller than the multi‑chain DEXs. If you need deep liquidity for large trades, you may have to split orders or use a bridge to a larger DEX.

Pros and Cons

Fee Structure and Liquidity Details

SideSwap charges a flat swap fee of 0.1% for most pairs, with a slight increase to 0.2% when trading tokenized securities. There are no deposit or withdrawal fees on the Liquid Network itself; standard network transaction fees apply (typically 0.0001L‑BTC).

Liquidity is sourced from the broader Liquid Network order book. As of October2025, the total value locked (TVL) on Liquid hovers around $150million, meaning side‑by‑side trades of over $50k may experience price slippage. For most retail users, the fee‑to‑liquidity ratio remains favorable.

Regulatory Outlook

Operating without KYC places SideSwap in a gray zone in jurisdictions tightening anti‑money‑laundering rules. While the platform currently complies with the Bitcoin‑centric regulatory stance of many countries, future legislation could force a KYC overlay or limit access in certain regions. Users should stay informed about local crypto regulations before committing large capital.

Final Verdict

If your trading focus lies within Bitcoin’s financial layer-whether you’re swapping L‑BTC, accessing tokenized mining shares, or simply valuing privacy-SideSwap offers a purpose‑built solution. Its non‑custodial design and Confidential Transactions set a high security bar, but the trade‑off is narrower asset coverage and modest liquidity. For Bitcoin‑centric power users, the platform is a strong addition; for traders needing broad multi‑chain exposure, a hybrid approach (SideSwap + a larger DEX) makes sense.