Introduction
When it comes to buying and selling cryptocurrencies, there are a lot of options out there. You can buy with your credit card or bank account, but if you’re looking for an easy way to swap digital currencies, we’ve got you covered!
But first, let’s try to understand exactly what an instant swap crypto exchange is, and then cover the top 5 instant crypto exchanges so that you can find the best one for you!
What Is a Crypto Swap Platform?
Cryptocurrency exchanges are the backbone of the crypto space, as they are responsible for facilitating every single transaction. The main purpose of an exchange is to provide liquidity and let you buy or sell cryptocurrencies.
The problem with current exchanges is that they are centralized and run by centralized organizations. This means that they can be hacked or shut down by authorities, which is one of the reasons why decentralized exchanges (DEXs) were created.
A crypto swap platform is an exchange where you can buy or sell cryptocurrencies in exchange for other cryptos or fiat money.
Crypto Swap platforms allow traders to swap one coin for another without having to go through an exchange or wallet service. This is done through a peer-to-peer exchange that enables users to swap their coins with each other using smart contracts on the blockchain. This removes some of the barriers that exist when moving between coins.
DEXs allow you to trade tokens directly from your wallet without having to send your funds to an exchange wallet first. Because there’s no mediator involved, these exchanges are cheaper and more secure than their centralized counterparts, but they have yet to gain mainstream adoption due to their complexity and limited features.
To bridge this gap between centralized exchanges and DEXs, several projects have launched hybrid solutions that combine aspects of both types of exchanges into one product: crypto swap exchanges.
Growth in Crypto Swap Exchanges
Crypto swap exchanges are the next big thing in cryptocurrency trading. These exchanges allow users to instantly trade between different cryptocurrencies without having to sell and buy. Currently, only a few instant coin swap exchanges are operating globally.
However, as more people become aware of their existence, more will be launched. This will ensure there is adequate competition between them and that they serve their customers well. This will also result in better services being offered at affordable prices.
This is a huge change from traditional exchanges, which require you to convert your cryptocurrency into fiat currency before you can trade it for another cryptocurrency.
Many people have been looking for ways to innovate their businesses to stay ahead of their competitors. This has led to new developments in every industry, including cryptocurrency exchanges. For example, Binance recently launched its decentralized exchange (DEX), known as Binance DEX.
The Top 5 Best Crypto Exchanges
Here’s our list of the best instant crypto exchanges that allow you to quickly exchange between different cryptocurrencies without waiting hours or days for the transaction to complete.
Let’s start with one of our most popular swap exchanges, SimpleSwap!
1. SimpleSwap
SimpleSwap is a fast crypto exchange platform that offers instant swap services. With SimpleSwap, you can swap cryptocurrencies instantly without any KYC requirements or ID verification.
SimpleSwap has a simple interface that makes it easy to use. The platform also uses two-factor authentication for added security in case you’re worried about your account being compromised by hackers or other malicious actors.
You simply enter the amount of BTC or ETH that you want to swap into another currency and then choose which one you want from a list of options provided by SimpleSwap (the list will include BTC/USD, ETH/EUR, and LTC/USD, and more).
The company’s reputation for being trustworthy makes it an ideal choice for those new to cryptocurrency trading who are looking for an easy way into the market without any previous experience with cryptocurrencies themselves.
Pros
- SimpleSwap is easy to use, even for beginners.
- The interface is simple, clean, and intuitive.
- They have a very large selection of coins available for purchase.
- You can make your portfolio by adding coins from different exchanges into one single account.
Cons
- There are no tutorials or guides on how to use the platform, which might be intimidating for newbies who want to learn more about cryptos and how they work.
- Not every swap is successful; at times, swaps have been known to be unsuccessful.
Now, it’s time to move on to the second exchange on our list, Changelly.
2. Changelly
Changelly is a popular platform for exchanging cryptocurrencies. It offers a wide range of coins and has been around since 2013, making it one of the oldest exchanges on this list.
The platform offers users a simple interface that makes it easy to swap between crypto pairs and also allows users to convert their favorite tokens into Bitcoin or Litecoin. Changelly charges a 0% fee for its services and features instant processing times, so you don’t have to wait long before your transaction goes through.
Changelly also offers other payment options beyond credit cards, such as bank transfers or cryptocurrencies like ETH (Ethereum), BTC (Bitcoin), LTC (Litecoin), and BCH (Bitcoin Cash). This flexibility makes it an excellent choice for beginner traders who are looking into starting with crypto trading using this platform.
Changelly is one of the few exchanges that support fiat-to-crypto trading, making it easy for beginners to get started with their first crypto investment. It is also a popular choice for experienced traders who want to swap their favorite coins without any hassle.
Changelly charges 0.5% per transaction but only when you buy or sell cryptos using fiat (USD, EUR, etc.).
Pros
- It’s fast and easy to use.
- It has a simple interface that is easy to navigate.
- It has advanced features that make it easy to exchange cryptocurrency.
- Changelly is a legitimate cryptocurrency exchange that accepts credit cards and PayPal for payments.
- Since the company was founded in 2013, it has served more than 200,000 customers and grown to be one of the top cryptocurrency exchanges on the market.
- The exchange rate is competitive, and they have a good amount of options for cryptocurrencies that they support.
Cons
- Fees can be high on Changelly when compared to other exchanges, which might make it cost-prohibitive for some users.
- There is often a wait time before you can purchase or sell digital currency using Changelly.
- There are no fees if you’re exchanging bitcoin, but there are fees if you’re exchanging other cryptocurrencies.
Great! Now, let’s learn more about their competitor, Changenow.
3. Changenow
Changenow is a crypto swap platform that allows you to swap BTC, ETH, LTC, BCH, and XRP. It has a simple interface that makes it easy to use with no signup required.
The platform uses two-factor authentication for added security in case you’re worried about your account being compromised by hackers or other malicious actors.
With Changenow, you can do instant coin swaps without any KYC requirements or ID verification. The platform has been developed to make crypto trading easy and quick. It also supports many altcoins, making it a great choice for traders who want access to a wide range of cryptocurrencies and don’t mind paying fees.
Pros
- Easy to use
- Quick in changing currencies
- No hidden fees
- Good customer service
- Cheaper than other companies
- Does not require a credit card
- Does not require a bank account, just an internet connection
Cons
- Not very user-friendly
- No app or website available for Windows users
Moving on, another noteworthy crypto swap exchange that is quickly gaining popularity is SwapSpace.
4. SwapSpace
SwapSpace is a P2P cryptocurrency exchange platform allowing users to trade BTC, LTC, ETH, and other cryptocurrencies without commission. The platform doesn’t require KYC or other personal details from its users, as it uses the OTC trading method.
SwapSpace is a decentralized exchange for instant coin swaps. Users can make instant trades with no verification required.
SwapSpace uses the SwapToken, an ERC-20 token, to facilitate trades on the exchange. The SwapToken is an ERC20 utility token that can be used as collateral in swap trades and exchanged for other cryptocurrencies at any time.
Pros
- The platform is easy to use and intuitive.
- Users can create a profile in minutes and begin trading quickly.
- There is no charge for membership.
- The platform has a clean design, making it easy to use.
- The app is available on iOS and Android, so you can access your funds from anywhere.
- You don’t have to pay any fees for using the service.
Cons
- There are not enough users on the platform yet.
- SwapSpace doesn’t offer as many coins as some of its competitors do, but that’s one of the main reasons it’s such a great choice. If you’re just getting started with trading cryptocurrencies, it’s easier to make smart choices about what coins are worth investing in if you’re only exposed to the most popular ones.
Finally, last but not least, we will discuss one of the fast-emerging competitors in this space, SwapZone!
5. SwapZone
SwapZone has a unique P2P trading system that allows users to trade any cryptocurrency and fiat currency directly with each other. It uses the OTC method of trading.
The SwapZone platform has been created to provide individuals with the opportunity to buy and sell cryptocurrencies without going through big exchanges like Binance or Coinbase.
SwapZone works on the principle of trustless transactions between users that don’t need any third parties, such as banks or payment processors, because they are decentralized and run on blockchain technology instead of being controlled by them.
The platform doesn’t charge any fees for its services or transactions. The SwapZone platform is based on a smart contract and uses an Ethereum-based protocol to facilitate cryptocurrency trades between two parties.
SwapZone offers users a simple interface that makes it easy to swap between crypto pairs and allows them to convert their favorite tokens into Bitcoin or Litecoin if they want. The platform uses SwapToken, which is an ERC20-based cryptocurrency that can be used to pay for fees on the network.
Pros
- It’s free to use
- You can swap with anyone in the world (as long as you’re both using SwapZone)
- The prices are low. You can get the best swaps for a very reasonable price.
Cons
- Only about 500 people are using it, so sometimes you won’t find someone who wants to trade with you because of its illiquid order books.
- There are only a few payment options available on this website.
Conclusion
Instant swap exchanges are already popular, and for a good reason. They have lower fees, less latency, and can help you quickly change your crypto or fiat into other coins through a P2P system.
We’ve listed the top 5 most common ones available today that are proven and safe options that already have hundreds if not thousands of users using their services every day. So, which one is right for you?
While there are many different crypto exchanges out there, they all have their pros and cons, and they all offer an array of special features along with attractive offers for new users.
Remember to look for the lowest fees and the fastest transaction speeds This should help make your task of swapping crypto easy, inexpensive, and quick!