Changelly vs Shapeshift review and comparison – Instant crypto exchange
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 altcoin with other platform supported altcoins in a reasonably straightforward approach, compact payment, velocity and in some cases even anonymously. There are two main instant cryptocurrency exchange changelly and shapeshift.io. I will make a complete review and comparison between both instant cryptocurrency exchange i.e. (changelly vs shapeshift review) with their pros and cons.
When it comes to buying Bitcoin there are more than enough best Bitcoin exchanges 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 top cryptocurrency like buying Ethereum, Litecoin, Dash, Ripple xrp coin, Monero, Verge, Cardano, Nem, Neo or any other top altcoin than 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. Fees are 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. It let you buy Bitcoin and other altcoins instantly with a credit card and other popular payment methods but it comes at a cost of relatively high transaction fees.
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. Changelly is not a proper altcoin trading platforms which serve crypto trading thus, it only serves the purpose of changing any cryptocurrency to another cryptocurrency vice-versa.
- 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.
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 safest and 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.
- It offers a higher level of liquidity
- Support all major altcoin
- It does not allow to buy cryptocurrency using the fiat currencies
- Transaction fees are comparatively higher than other instant cryptocurrency exchange
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 relatively high fees for buying crypto instantly using the credit & debit card (This is common among almost every bitcoin exchanges which allow buying Bitcoins 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 and simple interface in comparison to changelly instant cryptocurrency exchange
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.io) comparison. Shapeshift.io doesn’t ask for any single piece of information whatsoever. This reduces the identity and financial theft risk.
6. Trust level
Shapeshift.io enjoys higher trust and reputation among users in comparison to Changelly as it is relatively new Instant cryptocurrency exchange.
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 a preferred choice and it enjoys higher user trust, 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 most convenient transaction
Even with the minor differences and flaws in both instant cryptocurrency exchange, one thing is certain i.e. (Changelly and Shapeshift) is the best instant cryptocurrency exchange in the industry
Hello, I am HarshVasistha Btech(IT) from New Delhi, India. I am the Owner and the Author of coinexpansion. Although, I am not a techie 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 and obsessed with learning new things and love to decode that stuff into simple and self-explanatory words.
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