Why an exchange can work without knowing who you are

Services that hold customer balances and connect to the banking system generally verify identity. A swap that never holds a balance is a different shape of business.

What custody changes

If a service holds your money, you are a creditor. That brings the obligations that come with holding other people's funds. A swap takes coins, trades them, and sends the result to an address you chose, all in one operation.

What that means in practice

• There is no balance to withdraw, so nothing to secure with a login.
• There is no account to breach, because there is no account.
• The payout goes to the address you gave, not to a holding of yours that somebody else controls.

What it is not

It is not a promise that crypto is untraceable, and it is not advice about your obligations where you live. Those are yours, and they do not disappear because a service did not ask.

Swap Heaven records what an order needs and erases order addresses on a schedule once it has ended.