- Instant cryptocurrency exchange in-depth review — Changelly vs Shapeshift 2018
Instant cryptocurrency exchange in-depth review — Changelly vs Shapeshift 2018
In this post, I want to include a reasonably new form of altcoins exchanges. They are termed as ‘instant cryptocurrency exchange’. These exchanges make it possible for you to trade any cryptocurrency for a various cryptocurrency with a reasonably straightforward approach, compact payment, velocity and in some cases even anonymously.
When it comes to buying Bitcoin there are many trusted Bitcoin exchanges where you can buy & sell Bitcoins with credit card & debit card, online banking, or with any other payment option. But when it comes to buying altcoins (cryptocurrencies other than Bitcoin) like Litecoin, Dash, Ripple coin, Monero, Verge, Steem or any other coin we have limited options. That’s where instant cryptocurrency exchange comes into play.
Changelly and ShapeShift are two of the most popular Instant cryptocurrency exchanges, which serve this purpose to exchange other cryptocurrencies (altcoins) with Bitcoin in minimal time, low fees and without any hassle.
Changelly is newly born instant cryptocurrency exchange launched in 2016. Changelly was established by the exact men who own MinerGate — a mining pool that will allow you to sign up for other miners across the globe.
Changelly is based in Prague(Checkslovakia). The exchange is clean and easy to use, have an intuitive interface, best exchange rates, very low fees. Fees are mere 0.5% of transaction amount.
It allows you to exchange one cryptocurrency for another in the most convenient way possible. It does this by aggregating and suggesting the best rates directly on its website. Changelly offers you best exchange rate in comparison to other instant cryptocurrency exchange.
Changelly accepts payments in nearly any cryptocurrency and you can receive a payout in any other cryptocurrency. It let you buy & sell Bitcoin and other altcoins using a credit/debit card but it comes at a cost of relatively high transaction fees.
Changelly is a relatively new company in the cryptocurrency exchange industry. But It has reached the milestone of 1 million customers in double quick time. This shows the popularity and reputation of this instant cryptocurrency exchange.
You can make a trade of any size, and the transaction is processed within 5 to 30 minutes.
- The largest offering of cryptocurrencies in cryptocurrency exchange industry.
- Changelly offers you best exchange rate.
- Interface is clean and simple
- Lowest commission fee for crypto-to-crypto conversion.
- Can buy any altcoin using credit & debit card
- High exchange rates than other altcoins exchanges when purchasing cryptocurrency using a credit & debit card
- Though it does not require any form of identification, one does need to submit an email address to complete the exchange transaction.
Shapeshift was the first crypto to crypto instant cryptocurrency exchange launched in the year 2013 by Erik Voorhees CEO of the company from Switzerland.
Shapeshift does not allow you to buy cryptocurrencies with fiat currencies e.g. US Dollars, Euro, British Pound, etc. It follows no fiat policy.
Shapeshift claims to be the safest and fastest instant cryptocurrency exchange in the world. The user doesn’t need to create an account, deposit fund, or provide any private personal information. Shapeshift does not even require any e-mails, passwords, or any bid either. This reduces the identity and financial theft risk.
It uses a very simple and smooth process to convert a cryptocurrency to another. It has to be said, this instant cryptocurrency exchange has made quite a name for itself over the past few years. ShapeShift check all the right boxes required in a secure, smooth and reputed Cryptocurrency exchange
Although, Shapeshift transaction limits are comparatively lower and fees are bit higher than Changelly.
- It facilitates the fastest and instant conversion of cryptocurrencies.
- It protects customers’ information and prevents possible identity thefts.
- It offers higher level of liquidity
- Support almost every altcoin
- It does not allow to buy cryptocurrencies using fiat currency
- Transaction fees are comparatively higher
Comparison between changelly vs shapeshift
Fiat currency support
Changelly allows buying Bitcoins against fiat money i.e. USD, Euro etc.
Whereas Shapeshift does not support fiat currency It only allows exchanging one cryptocurrency to another cryptocurrency
Changelly has very low trading fees only 0.5% of the transaction amount, But relatively high fees for Buying Cryptocurrency instantly using the credit & debit card ( This is common in cryptocurrency exchange industry which allows buying & selling Bitcoins and altcoins using the credit & debit card.)
On the other hand, shapeshift transaction fees are much higher and its fees vary according to trading cryptocurrency.
Changelly has higher transaction limits. A user can make a transaction of any size, while Shapeshift transaction limits are comparatively lower.
Changelly has more user-friendly and simple interface in comparison to shapeshift.
User personal information
Changelly requires user email address to create an account whereas shapeshift doesn’t ask for any personal information to create an account. This reduces the identity and financial theft risk.
Shapeshift enjoys higher trust and reputation among users in comparison to Changelly as it is relatively new Instant cryptocurrency exchange.
Transaction execution time
Transactions are fast and instant in Both Instant cryptocurrency exchange.
It is hard to compare transaction speed but according to my personal experience I will bet on Changelly but I have read user reviews where they claimed opposite of my experience.
If there is any difference in transactions processing speed then it will be of few seconds.
These both instant cryptocurrency exchanges serve the same purpose i.e. instantly convert any one of the cryptocurrencies to another cryptocurrency. Still, there are some minor differences.
Changelly offers amazing conversion services even though it’s flat currency to Bitcoin rate is excessively high.
It has comparatively low transaction fee and high trading limit.
On the other hand, instant conversion service offered by Shapeshift makes the company a preferred choice and it enjoys higher user trust, but its inability to process fiat currency to cryptocurrency transactions is a huge drawback.
Even with the minor flaws in both exchanges, one thing is certain i.e. these both are best instant cryptocurrency exchange among cryptocurrency trading industry.
- Date of publication:
- Wed, 02/14/2018 - 13:47
Click on the link - it will be copied to clipboard