Changelly vs Shapeshift review and comparison – Instant crypto exchange
In this post, I want to include a reasonably new form of altcoins exchange. Which is termed as ‘instant cryptocurrency exchange’. I will make a comprehensive review and comparison between the world’s two best instant cryptocurrency 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, velocity and in some cases even anonymously.
When it comes to buying Bitcoin there are more than enough best Bitcoin exchange worldwide which allow a user to buy Bitcoin with a credit card, debit card, online banking, or with any other payment option.
But when it comes to buying altcoins like buying Ethereum, Litecoin crypto, Dash, Ripple xrp coin, Monero, etc then there are very limited options. That’s where instant cryptocurrency exchange like (changelly and shapeshift) comes into play.
Before diving into (changelly vs shapeshift review and comparison). First, I will review both changelly and shapeshift individually.
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 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.
Changelly is a relatively new company in the instant 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. 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 best exchange rate.
- The interface is clean and simple
- Lowest commission fee for crypto-to-crypto conversion.
- Can buy any altcoin with the credit card
- 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.
Watch the video to learn how to buy altcoins with changelly (source – changelly.com)
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. A 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. Shapeshift check all the right boxes required in a secure, smooth and best bitcoin 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.
- 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
Watch the video to learn how to buy altcoins on the shapeshift.io (source – shapeshift.io)
Changelly vs Shapeshift review and comparison
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 0.5% 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 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. User personal information
Changelly requires user email address to create an account whereas shapeshift.io win hands-down in this department of the changelly vs shapeshift comparison. Shapeshift doesn’t ask for any single piece of information whatsoever. This reduces the identity and financial theft risk.
6. 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.
7. Transaction execution time
Transactions are fast and instant on Both Instant cryptocurrency 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.
(Changelly vs shapeshift review)- 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 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 one of the go-to exchange. On top of this, it enjoys the label of first instant cryptocurrency exchange, but its inability to process fiat currency to cryptocurrency transactions is a huge drawback. But shapeshift justify its primary purpose to provide fast, confidential, and convenient transaction.
Even with the minor differences and flaws in both instant cryptocurrency exchange, one thing is certain i.e. Changelly and Shapeshift are the best instant cryptocurrency exchanges in the industry
Hello, I am Harsh Vasistha Btech(IT) from New Delhi, India. I am the Owner and the Author of Coinexpansion (An Altcoin & Exchange Hub). Although I am not a techie, in fact, I am more an ideological person but got infatuated with blockchain technology. Hence I commit myself to thorough and in-depth research on the core subject. Coinexpansion is the product of my cryptocurrency learning lust.
Hobbies – An avid reader, compulsive learner, passionate writer, sports addict, history captivated, and obsessed with learning new things and love to decode that stuff into simple and self-explanatory words.
I will do my best to serve my viewers with more pragmatic information about cryptocurrency and it’s associated technology and will try to keep you updated with current events of the cryptocurrency world