Compare your Top 3 Bitcoin Exchanges
Choose Provider 1:
Choose Provider 2:
Choose Provider 3:
Provider
Pro and Contra
Has been hacked?
Fees
Security
Trading
100 100
Pro
  • Protects your privacy and does nto hold any of your funds/private keys
  • Fee rates are fair and transparent
  • User-friendly interface with simple and direct options
  • Over 450 supported cryptocurrencies
Contra
  • has no trading tools or charts
  • some swaps can be stuck for hours
  • fees will be different for every cryptocurrency
  • 900 EUR limit for Fiat to Crypto transactions without KYC
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
Trading Fees:
0.40%
Security Good Trading
Futures? No
Derivatives? No
Margin Trading? No
Visit Website
90 90
Pro
  • User-friendly swapping service for quick transactions.
  • Has a lot of available ERC-20 tokens and altcoins
  • Has a cashback mechanism
  • Users can exchange fiat for crypto and vice versa
Contra
  • The website does not have information on the SimpleSwap Executive Team.
  • No precise information about the actual swapping fees.
  • It does not have any charts, toolbars or anything to help you analyze what is going on in the market.
  • Besides swapping, there is not much to the website.
Has been hacked? No Fees
Deposit Fees:
None
Withdrawal Fees:
Trading Fees:
4.95%
Security Good Trading
Futures? No
Derivatives? No
Margin Trading? No
Visit Website
80 80
Pro Contra
  • It does not support fiat payments/deposits
  • Spreads can be considerably high
  • It has no trading tools at all
  • Mainly focused on beginners
Has been hacked? No Fees
Deposit Fees:
None
Withdrawal Fees:
Trading Fees:
1.8%
Security Trading
Futures? No
Derivatives? No
Margin Trading? No
Visit Website
72 72
Pro
  • 140+ currencies available
  • Accepts Credit Cards
  • 2FA Security
  • No verification for crypto to crypto
Contra
  • High transaction fee of 0.5%
  • Negative comments from the community
  • Still a lot to prove (a fairly new company)
Has been hacked? No Fees
Deposit Fees:
None
Withdrawal Fees:
None
Trading Fees:
0.50%
Security Good Trading
Futures? No
Derivatives? No
Margin Trading? No
Visit Website
Show more Bitcoin Exchanges

Best Instant Swap Exchanges

Cryptocurrency Exchanges have been popularized over the last decade, fueled by the adoption of these assets in the portfolios of traditional investors. The amount of cryptocurrencies available in the market increased dramatically, thus giving spaces for companies to offer their exchange services to the public.
In this review, we will review instant Crypto Exchanges and their role within the market. These platforms are used by millions of users around the world and, in addition to fulfilling their purpose, they have paved the way for other Crypto exchanges.

What are Instant crypto exchanges?

Imagine a platform where you can instantly swap cryptocurrencies and receive them in your wallet with a couple of clicks. That is exactly what Instant crypto exchanges do.
They are websites that offer the service of instantly swapping any cryptocurrency for another. Not graphs, not indicators, these companies exclusively engage in direct exchanges between crypto assets.

Instant Crypto Exchanges are designed for moderate and fast transactions, which fits the needs of many clients. They are ideal for those who need to execute swaps on crypto purchases and such, as their role is to act as an intermediary in a fast and accurate transaction.

How do Instant crypto exchanges work?

Instant Crypto Exchanges work with cryptocurrency pairs for every swap. Users have to deposit a base coin to a specific address, allowing him to make the swap for the coin they need. The exchange will also need an address for the token they’re trying to get.

After the transaction is made, users proceed to make the swap and receive their tokens once the blockchain confirms the transaction.

For its service, the exchange charges a transaction fee per every swap, which can be included in the asset’s price or individually set.
The purpose of instant crypto exchanges is merely to convert your digital assets, so these platforms do not include trading or technical analysis tools.
To make the idea of an Instant Crypto Exchange more attractive, companies offer profitable features for users who purchase special memberships. Completing a significant number of swaps can also earn you profits on some exchanges.

Why do people use Instant Crypto Exchanges?

Unlike Custodial Crypto Exchanges, these platforms do not usually offer an integrated wallet, as they work under the concept of held custody. In other words, the user has control over their assets and not the exchange.

This condition greatly favors commercial transactions, especially if there are discounts for a particular cryptocurrency or they require it as a payment method.
Assuming that an individual is not interested in advanced trading, but rather in swapping for another asset or making a purchase, instant crypto exchanges are a good alternative.

Why are Instant crypto exchanges important?

Much of the crypto community is trained to make investments and trade different assets. However, not everyone swaps cryptocurrencies for that reason.
Instant crypto exchanges not only allow you to quickly convert assets, but also function as a gateway for fiat currencies.

Most of these platforms accept purchases with debit/credit cards, thus facilitating access for people who do not have any cryptocurrency to begin with.
Instant crypto exchanges prioritize the security of funds in transactions that, at no time, retain your capital in a third-party wallet or take control over your private keys.

This makes instant crypto exchanges a necessity inside the crypto ecosystem, as they

What do we need to be aware of Instant crypto exchanges?

Now comes the tricky part; Like all projects in the crypto world, you have to pay attention to the policies of their service.
As mentioned above, Instant Crypto Exchanges make money through swapping fees or spreads. Some exchanges may include very high swap rates without informing you about it on their platform, thus causing unexpected losses after the trade.

For this reason, it is recommended to inquire about the commission rates and, in case the platform works with spreads, verify the real price of the assets in other markets.
Additionally, it is always prudent to research the company and its background, in order to check the transparency of its services.

Differences between an Instant Crypto Exchange and a Custodial Crypto Exchange

Instant Crypto Exchanges:

  • Only manages instant swaps at the current market price.
  • Has no toolbar, no trading charts or crypto derivatives.
  • Can instantly swap from crypto to fiat with little or no KYC verification.
  • Lower transaction volume than Custodial Crypto Exchanges.
  • Bigger spreads/swap fees.
  • No take profit/stop loss.
  • No staking, airdrops and NFT marketplace.
  • Does not hold any private keys and transactions are directly sent to a personal wallet.
  • Smaller or no withdrawal fees.

 

Classic Custodial ( Centralized ) Crypto Exchanges:

  • Manages multiple order types for each available cryptocurrency pair.
  • Has a toolbar, trading charts and crypto derivatives section.
  • Most fiat transactions must happen after a KYC procedure.
  • Higher transaction volume than Instant Crypto Exchanges.
  • Spreads are usually lower, as well as transaction fees.
  • Custodial Crypto Exchanges offer staking on multiple projects and other opportunities like NFT markets, whitelists and more.
  • Holds private keys. Users don’t literally own their cryptocurrencies until they withdraw to a personal wallet.
  • Bigger withdrawal fees.

 

How to check if an Instant crypto exchange is legit?

There are many ways of verifying an Instant Crypto Exchange’s legitimacy, starting from their company profile to their policies.
Scam websites tend to have very few details regarding the Managing Team and outrageously “profitable” premises. Also, scammers tend to buy domains that belong -or are similar- to legit organizations to start receiving deposits. To check if you are on the official website is a must.

Reviews are also important, as many victims will probably write a scam report or negative comments on the exchange’s services.

Pro´s and Con´s of Instant Crypto Exchanges:

Pro:

  • Swaps are made immediately.
  • Most of these exchanges have over hundreds of listed cryptocurrencies and support multiple payment methods.
  • Instant Crypto Exchanges do not hold your or ask for your private keys.
  • They are very useful for online crypto purchases.
  • Swaps are not limited for assets from different chains.

Con:

  • High spreads/swap fees.
  • No trading tools at all.
  • Network traffic can freeze your transactions.
  • Earning programs are mostly limited to premium subscriptions.
  • No integrated crypto wallet.