When it comes to buying or exchanging cryptocurrencies, a lot of people rely on exchanges. However, there are a few services that allow users to convert cryptocurrency in a far more convenient manner. Changelly and ShapeShift are two of the most popular services in this regard, and they both provide a valuable service. That does not mean both platforms are alike, though.
2. Changelly
The Changelly service was first announced on Bitcointalk on April 12 of 2016. This particular service is operated by the MinerGate team and offers an intuitive cryptocurrency exchange. Changelly has ties to the world’s largest cryptocurrency exchanges to provide enough liquidity for all customer orders. The platform offers crypto-to-crypto and fiat-to-crypto exchanges services to users from all over the world.
Platforms such as Changelly can only make a name for themselves if they provide enough convenience. Buying bitcoin or any of other support cryptocurrencies can be done through a VISA or MasterCard, as long as the value is denominated in either US Dollar or Euro. Speaking of which, the Changelly platform supports many different cryptocurrencies, including Ethereum, Litecoin, Monero, NXT, Ripple, and a wide variety of other altcoins.
What makes this service – as well as Shapeshift – so appealing is how there is no need to register an account. Users simply enter the amount of currency they want to exchange for another one and complete the transaction. There is a 0.5% commission for crypto-to-crypto trades to take into account, though. That said, there are seemingly no transaction limits, which effectively removes the need for centralized exchanges altogether.
1. ShapeShift
Most enthusiasts looking for a direct crypto-to-crypto exchange platform will automatically think of ShapeShift. It has to be said, this company has made quite a name for itself over the past few years. Having a solid reputation in the cryptocurrency world can go a long way, and ShapeShift is seemingly checking all of the right boxes in this department. ShapeShift was founded in 2013 and received a US$525, 000 investments in March of 2015.
It is worth noting ShapeShift has a comprehensive list of any fees associated with transactions. Miner fees are paid by the customer, yet the actual exchange between currencies takes place without additional cost. Users may notice ShapeShift has transaction limits, yet it is possible to increase deposit amounts by using the “specific amount box”. This specific feature was added in September of 2015, as there are always users who want to work with much higher limits.
Similarly to how Changelly operates, ShapeShift does not require users to create an account before they can start trading. However, it is worth noting the company makes all other collected information public. While that is no particular reason for concern, it is something to keep in mind for privacy-oriented cryptocurrency users Since this information doesn’t include an email address, name or location, there is very little info to share in the first place.
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