Changelly vs Shapeshift – Best Instant cryptocurrency exchange 2020
In this post, I want to include a reasonably new form of altcoins exchange. Which is termed as ‘instant crypto exchange’.
I will make a comprehensive review and comparison between the world’s two best instant crypto exchange (changelly vs shapeshift ) with their pros and cons.
Changelly and shapeshift.io primary aim are to convert the one cryptocurrency to another cryptocurrency in a reasonably straightforward approach, compact payment, and velocity.
Before diving into (changelly vs shapeshift review and comparison). First, I will review both changelly and shapeshift individually.
Changelly – Instant Crypto 2 Crypto Exchange
Changelly is a 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.
The Fee is a 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 the 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 altcoin.
But it comes at a cost of relatively high credit card buying fee i.e. 5% but it can reach up to 10% on a bad day.
Changelly is a relatively new company in the instant cryptocurrency exchange industry.
But It has reached the milestone of 2 million customers in double quick time.
This shows the popularity and reputation of this instant cryptocurrency exchange.
Changelly supports almost every country in the world. It has very high buying limits and solid liquidity.
- The largest offering of altcoins
- Changelly offers you the best exchange rate.
- The interface is clean and simple
- Lowest commission fee for crypto-to-crypto conversion.
- High exchange rates than other Altcoins exchanges when purchasing cryptocurrency with the credit card
- Though it does not require any form of identification, one does need to submit an email address to complete the exchange transaction.
Shapeshift.io instant cryptocurrency exchange
Shapeshift.io 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 to buy cryptocurrency with fiat currencies like US Dollars, Euro, British Pound, etc.
It follows no fiat policy.
It only allows the exchange of cryptocurrencies with limited trading options.
Shapeshift.io claims to be the fastest instant cryptocurrency exchange in the world.
It uses a very simple and smooth process to convert a cryptocurrency to another.
Shapeshift check all the right boxes required in a secure, smooth instant cryptocurrency exchange.
It should be noted that the main purpose of Shapeshift is that it has been developed as the payment gateway for cryptocurrency blogs, crypto exchange, crypto mobile application or other e-commerce organization which accepts payment in cryptocurrencies via shapeshift API.
Hence shapeshift.io mainly serves the purpose of exchanging cryptocurrency in ultra fast, confidential, and in a most convenient way possible for the third party cryptocurrency institutions and their users.
Note – Now Shapeshift asks a user to create the account before using the platform by submitting the email id
- It facilitates the fastest and instant conversion of cryptocurrencies.
- It protects customers’ information and prevents possible identity thefts.
- Support almost every popular cryptocurrency
- It does not allow to buy cryptocurrency using the Fiat.
- Transaction fees are comparatively higher than changelly
- Got hacked in 2016, since recover well
- Before using the platform a user has to sign up for the exchange.
Changelly vs Shapeshift
1. 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 fee is nominal 0.25% of the transaction amount, But the relatively high fee for buying crypto instantly using the credit & debit card. (This is common among almost every bitcoin exchange which allows buying Bitcoin instantly using the credit & debit card.)
On the other hand, shapeshift crypto to crypto conversion fee is relatively high and vary according to altcoin.
3. Transaction limits
Changelly has higher transaction limits. A user can make a transaction of any size, while Shapeshift transaction limits are comparatively lower.
shapeshift.io has more user-friendly in comparison to changelly instant cryptocurrency exchange but the difference is rarely identified.
5. Trust level
Shapeshift.io first instant cryptocurrency exchange to be launched but unfortunately got hacked in 2016 still enjoys high user trust.
Changelly has a robust security, currently more preferred exchange by the daily users.
6. Transaction execution time
Transactions are fast and instant on Both of the best Instant crypto exchange.
It is hard to compare transaction speed but shapeshift is primarily built for the purpose of the ultra-fast transaction which seems true.
But in realtime experience, it is hard to identify a winner in this context of (changelly vs shapeshift) comparison.
If there is any difference in transactions processing speed then it will be of few or nanoseconds.
shapeshift vs changelly – Conclusion
These both instant cryptocurrency exchange (changelly vs shapeshift) serve the same purpose i.e. instantly convert one cryptocurrency to another cryptocurrency.
Still, there are some minor differences.
Changelly offers amazing conversion services even though the fiat currency to Bitcoin buying rate is high.
It has a comparatively low crypto-crypto conversion fee and high trading limit.
On the other hand, instant conversion service offered by Shapeshift makes the company one of the go-to exchange.
On top of this, it enjoys the label of first instant cryptocurrency exchange.
But Shapeshift inability to process fiat currency to cryptocurrency transactions is a huge drawback.
But shapeshift justify its primary purpose to provide fast and convenient transaction.
Even with the minor differences and flaws in both instant cryptocurrency exchange, one thing is certain i.e. These both are the best instant cryptocurrency exchanges in the industry.
Note – Changelly does beat Shapeshift in overall features.