Top 5 Crypto Swap Sites: Instantly Exchange Crypto & Altcoins

December 22, 2022
10:27 pm

Crypto swap sites are slightly different from crypto exchanges. While exchanges offer a host of other features and benefits, swaps are meant to make the process of swapping one currency for another as easy as possible. Here, we look at the 5 best crypto swap sites.

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1. SimpleSwap

There are three reasons why SimpleSwap is the best swap site for crypto enthusiasts.

The first is that it is incredibly simple (just like its name). Users can instantly swap one coin for another from the home page. It is also possible to convert fiat currency to cryptocurrency through a tab on the homepage.

The second reason is that virtually any cryptocurrency can be exchanged for another on the platform. While the total number of fiat currencies are just over 15, basically every coin that has even a small user base is available to swap on SimpleSwap.

Lastly, there is a loyalty program that can be used to earn cashback for exchanging currency. The cashback is earned in SWAP, the platform’s proprietary coin. This coin can then be used to purchase discounts and further cashbacks on SimpleSwap.

2. Changelly

Changelly is another swap website that allows users to exchange one coin for another. In total, it has over 200 altcoins on offer, and gives users the option to swap coins on both a floating rate and a fixed rate basis.

Users can both swap, purchase, and sell cryptocurrency through the home page. However, Changelly also offers its users the option to trade currencies through the ‘PRO’ version of the platform.

Changelly is a competent swap site that is a great alternative for someone that does not want to use SimpleSwap. However, users that want to regularly trade crypto will be better off using a fully-fledged exchange like Binance, KuCoin, or another alternative.

3. SwapSpace

SwapSpace is slightly different from the other options on this list. It works as an aggregator to ensure that users get the best rate when swapping one currency for another. However, the rates found on the platform are quite similar to the other options on this list.

Just like the previous two sites, coins can be exchanged through the home page. However, there is a separate page for purchasing crypto with fiat currency. Just like Changelly, there are just over 15 fiat currencies currently accepted by the platform.

While SwapSpace has over 600 different cryptocurrencies on offer, the main reason it is behind the previous two options is that it does allow users to sell crypto for fiat currency. On top of that, strict KYC procedures must be met before users can purchase crypto for fiat.

4. Godex

Godex is a fixed-rate exchange that allows users to anonymously exchange Bitcoin and other altcoins in an instant manner. There are over 300 different coins currently on offer, with virtually every single popular coin available for exchange.

Godex also has some of the fastest transaction times out of all the crypto swap sites. The average transaction time falls between 5-30 minutes, whereas most other swap sites tend to take between 30-45 minutes.

The reason why Godex is behind the 3 aforementioned entries is that it does not allow users to purchase or sell crypto for fiat. Users can only exchange one coin for another. However, it is still a great swap site, mainly due to its speed.

5. StealthEX

StealthEX is the last swap site on this list, and it is a great alternative for users that do not want to use any of the previous entries.

The main reason for it being behind Godex is that transactions can sometimes take a little longer to process. However, it still offers every single popular coin on its platform, and the fees are on par or slightly lower than other swap sites on this list.

It is also possible to purchase crypto for fiat currency through a credit card. However, only four currencies are supported on the platform, making it a bit more difficult to recommend over the other options on this list.

Crypto Swap Sites vs Crypto Exchanges

Crypto enthusiasts may be wondering when they should use a swap site and when they should register on a proper crypto exchange. Here, we make the case for both of them.

When to Use a Crypto Swap Site

Crypto swap sites are ideal for users that want to be able to exchange coins anonymously. There aren’t any KYC procedures required by most of the swap sites, and users can simply receive the coin of their choice to their wallet.

Swap sites are also a lot more simpler to use. The vast majority of them allow users to swap currencies from the home page, with the entire transaction complete in less than an hour (transaction time often depends on the currencies being exchanged).

Lastly, swap sites do not have geographical restrictions in the same capacity as crypto exchanges. Users from certain countries may not be able to access their favorite exchange, but they will most likely be able to access a swap site to purchase a coin of their choosing.

When to use a Crypto Exchange

A crypto exchange usually offers a lot more in terms of features relative to swap sites. For example, users looking for a proper trading interface to day trade currencies will not be able to use swap sites, and should look for a good exchange instead.

Crypto exchanges also offer a lot of other features, with many trying to build a complete ecosystem of products around digital assets. A lot of crypto exchanges allow users to invest their coins, take out loans using their crypto as collateral, and apply for a VISA card that allows them to spend their crypto.

Lastly, crypto exchanges are also the first to offer access to new features and assets that become popular in the world of digital assets. For example, most of the largest exchanges began to offer NFT marketplaces when NFTs became popular.