Do you need help choosing a suitable crypto swap platform? We have compiled the top 5 best platforms for everyone to review.
TL;DR
- There are increasingly more sites for crypto swaps due to the rising demand for them.
- The interface, variety of cryptocurrencies, and fees are some fundamental requirements for a good cryptocurrency swap platform.
- Changelly, ChangeNow, SimpleSwap, SwapSpace, and Exolix are some of the best crypto swap platforms in the market.
Introduction
Crypto swap, which links cryptocurrency exchanges and enables users to trade coins, is becoming increasingly popular as the demand for cryptocurrencies rises.
This article will look at the top 5 best platforms that everyone needs to know.
What to consider when choosing a platform to swap cryptocurrencies?
When selecting a platform, users must take several factors into account. Some variables that need to be considered are interface, variety of cryptocurrencies, fees.
Interface
Of course, a simple interface allows users to navigate and trade with more ease. However, striking visual elements also play a role in drawing attraction from users. A platform that can combine ease of use and visual will definitely have a large user base.
Variety of cryptocurrencies
Crypto traders will want to pick a platform that offers a wide range of cryptocurrencies to exchange their digital assets more flexibly.
Fees
Fees are one of the most critical factors when it comes to choosing a platform to swap cryptocurrencies. Due to the high volatility of the crypto market, the fees in crypto platforms can be costly, especially during congestion. Therefore, you should consider a platform with reasonable fees to save money while trading.
5 Best Crypto Swap Platforms In 2023
Changelly
Changelly is a Czech cryptocurrency exchange introduced in 2016 by MinerGate. Since its establishment, Changelly has gained millions of users thanks to its easy-to-use interface.
Changelly has some perks that make it attractive to users, including the simple interface and the inclusion of over 200 cryptocurrencies. In addition, the platform offers some of the lowest crypto-to-crypto exchange rates.
However, Changelly has some downsides. The platform currently does not facilitate the exchange of cryptocurrency for fiat currency. What’s more, Changelly has a higher minimum trade amount than most other exchanges.
| Pros | Cons |
| Simple interface | No crypto-to-fiat option |
| Over 200 supported cryptocurrencies | High minimum requirements |
| Low crypto-to-crypto fees | High fiat-to-crypto fees |
ChangeNow
ChangeNow is a non-custodial crypto exchange founded in 2017 by CHN Group Limited. The term “non-custodial” means its users have total control over their investments and full responsibility for safeguarding their assets.
ChangeNow supports approximately 400 cryptocurrencies and 60 fiat currencies. Users can freely swap as many times as they want.
Regarding the cons of ChangeNow, the platform does not offer crypto-to-fiat conversion options. Users can purchase cryptocurrencies using debit or credit cards with a minimum requirement of $50.
Additionally, the platform may not be the best option for advanced traders as it lacks features such as interest-earning or staking.
| Pros | Cons |
| Non-custodial exchange | No crypto-to-fiat option |
| Over 400 cryptocurrencies and 60 fiats | High minimum requirements for debit/ credit card payment method |
| Limitless crypto swaps | No advanced trading options |
SimpleSwap
Founded in 2018, SimpleSwap is a user-friendly cryptocurrency exchange for beginners. It draws many users due to the simple interface. At present, SimpleSwap provides its users with over 300 crypto and fiat currencies.
The loyalty program is considered a means of encouraging users to exchange items on the marketplace. Users will be qualified for a 0.4% BTC cashback with 15,000 SWAP in this program.
However, the platform also has some features that need improvement.
To be more specific, SimpleSwap isn’t accessible everywhere. The platform’s service is now unavailable in nations on the FATF list. Some of the more sophisticated trading tools are also not available.
Moreover, SimpleSwap’s exchange process usually takes longer than most platforms.
| Pros | Cons |
| Over 300 crypto and fiat currencies. | Not available worldwide |
| Simplified user interface | Only have fixed- and floating-rate cryptocurrency purchases. |
| Loyalty program | Long exchange process |
SwapSpace
SwapSpace is a cryptocurrency exchange aggregator created in 2019 to make cryptocurrency a convenient and time-saving process.
SwapSpace is a popular site for investors wishing to diversify their holdings because it offers more than 450 cryptocurrencies. Due to the aggregators on the network, users of SwapSpace’s website benefit from some of the best trading prices.
On the negative side, to store their money, SwapSpace’s users must have a digital wallet. Also, the platform does not offer crypto-to-fiat trading, which makes it challenging to withdraw customer funds.
| Pros | Cons |
| Over 450 cryptocurrencies, | Require to have a digital wallet |
| Integrate with 12 different crypto exchanges | No crypto-to-fiat option |
| A straightforward four-step process | Long transaction |
StealthEX
StealthEX is a non-custodial crypto swap platform founded in 2018. StealthEX currently supports over 600 cryptocurrencies, including Bitcoin, Ethereum, XRP, and Tether USD.
The registration process for StealthEX is easy as users only need to provide their crypto wallet address. Users can expect a 0.4% fee rate per executed rate.
However, because StealthEX is a non-custodial platform, users must have a digital wallet to access the site beforehand. In addition, StealthEX does not provide additional features for advanced traders.
| Pros | Cons |
| Over 600 cryptocurrencies, | Require a digital wallet |
| Easy registration process | No additional features for advanced traders |
| Low fees | Limit payment options. |
Final Thoughts
As demand for crypto swap increases, so does the number of crypto swap platforms. Users must consider all the important determinants, such as reputation, security, fees, and many more, to pick the most suitable platform.
