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Changelly vs Shapeshift: Which is the Better Exchange for Trading Altcoin, Bitcoin

Changelly vs Shapeshift: Which is the Better Exchange for Trading Altcoin, Bitcoin

Changelly vs Shapeshift Review – Which is the Better Instant Exchange?

Changelly and Shapeshift are two of the most popular instant exchanges that currently offer users the opportunity to purchase and trade in various cryptocurrencies, or ‘altcoins’. These services both offer a relatively simple service that combines user-friendliness, speed and low fees. Although many of the services offered by Changelly and Shapeshift are quite similar, there are a number of differences between them.

Now you can get both these services with no registration at: https://www.coinexch.io

Changelly

Established in 2016 in Prague by the same team that established MinerGate (a mining pool that offers a service that guides users through the mining process), Changelly has already attracted over 1 million customers to its exchange.

Changelly has a very clear user-interface, and provides a quick and convenient means of buying altcoins. When purchasing crypto on Changelly the exchange rates and time of transaction are made very clear from the outset. However, the rate stated prior to the transaction being executed by the user is an estimated rate, which may not necessarily be the actual amount in crypto received, depending on the exchange rate at any given point in time (which, as we are aware, can rapidly change when it comes to crypto).

Changelly offers users two options (i) the option of choosing crypto-to-crypto exchanges but also, (ii) unlike Shapeshift, it also allows users to exchange fiat currency (US Dollar or Euro) to cryptocurrency by using a VISA or MasterCard credit or debit card. There are no geographical limits to the service so it can be accessed anywhere in the world.

It claims to offer the widest range of cryptocurrencies for exchange, with over 80 different cryptocurrencies currently available for exchange. Although users generally have no limits on the amount they can exchange, there are some limits on transactions via bank cards depending on where you are in the world, which can be found in their FAQ.

Changelly Fees

Changelly states that it charges a flat fee of 0.5% per trade. However, it also states that it offers the best exchange rates for cryptocurrency, which is a matter that is open to debate and may depend on the currency being exchanged and the time and date of the transaction. Therefore, when purchasing cryptocurrency, we would recommend that you do your research when it comes to exchange rates by checking Changelly, Shapeshift and any other exchange that you may be active on before entering into a transaction to ensure that you obtain the best rates.

Instant exchanges do not generally offer the most attractive rates, with speed being their biggest selling point. In addition, although the fiat-to-crypto option is a very convenient option, the exchange rate offered for transactions made through fiat currencies is worse than the exchange rate through crypto, which according to the developers is as a result of Changelly requiring a third party to process such transactions that result in higher fees.

Shapeshift

Established in 2013 by Erik Voorhees, Shapeshift’s premise is offering a direct crypto-to-crypto exchange platform. However, it should be noted that Shapeshift does not let users purchase crypto with fiat currency. It currently offers users the opportunity to swap almost 50 different cryptocurrencies.

As a cryptocurrency exchange Shapeshift offers a very easy means of swapping cryptocurrencies. The user-interface is very easy to navigate, with users simply entering the relevant crypto address to swap, with no requirements for users to sign-up or provide email addresses (although users may choose to set up an account). As Shapeshift transactions occur instantly, crypto is never held on a centralized exchange, but is delivered straight to users via a deposit address set up by the exchange.

Shapeshift is available anywhere in the world but it does have certain transaction limits, although higher deposit limits are available for Shapeshift, by following the instructions using the ‘specific amount box’ set out here. Comments from users online suggest that, on average, Shapeshift’s order execution times are considerably faster than Changelly, although the recent explosion in popularity of cryptocurrency in general has meant that exchange times are slower across the board as exchanges struggle to deal with demand.

Shapeshift Fees

Shapeshift doesn’t charge any service fees, other than the receiving coin’s miner fee, which are listed here.  This is a fixed fee, with some online commentators suggest that Shapeshift makes its money from any difference between the fixed miner fee that the exchange charges and the actual mining fee. In addition, despite there not being an upfront fee, many users have commented that the exchange rates provided by Shapeshift are quite poor in comparison to Changelly and other competitors.

However, unlike Changelly, the rate indicated by Shapeshift prior to the user completed the transaction is the actual amount the user will receive rather than an estimate. What you see is what you get with Shapeshift.

Now you can get both these services with no registration at: https://www.coinexch.io

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