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6 Top Ways to Instantly Exchange One Cryptocurrency for Another [300+ Altcoins]

Dont Trade, Instantly Swap Any Cryptocurrency You Own (At the Best Rate)

Trading cryptocurrenciestop 6 ways to instantly exchange one cryptocurrency to another. Coinzodiac is Hard! I never had to deal with such complex tools and lengthy registration procedures, even when applying for my student loans.

It makes me feel like a criminal. It almost makes me feel bad. Newcomers shouldn’t need to learn how to trade in order to exchange one cryptocurrency for another.

We should be able to deal cryptocurrencies like how we deal with our money. Just walk into any money changer and give them your local currency to swap for another. Simple, fast and easy.

If they give me a lousy rate, I just have to look for another who can give me a better one. Simple economics. Exchanges who are inefficient and expensive will be priced out of the competition.

Not because I missed the great run-up (though I did) and not because I fear that trading cryptocurrencies will end badly (it will, but that’s not my problem) for newbies. Rather, it is because I have been waiting for someone to invent an intuitive way to swap assets, without complex stargazing charts.

Crypto Exchanges Are Raking in Billions of Dollars

It is the one killer app that no one has yet to master.

Things change when there’s new infrastructure being laid on top of the old.

There’s friction & conflict in-between.

From this messiness, comes the opportunity to profit from the masses.

That’s how we get to a $300 billion dollar market capitalization of digital assets today despite $500 billion dollars being wiped-out in the crash of 2017-18. (Trading and speculation is the leading cause of losses)

Bloomberg estimates that the top ten cryptocurrency exchanges are bringing in as much as $3 million in fees per day in profit. 

Binance exchange alone earned $446 million in profits in 2018 despite being wedged deep in bear market territory.

Credit Karma estimates that Americans lost over $1.7 billion in 2018 trying to trade Bitcoin. The bear market doesn’t care whether they are first-timers or experts when it comes to trading.

It’s important to remember here that exchanges are the intermediaries we’re trying to remove in the first place from the equation of money via Bitcoin.

There’s no economic value being created in transferring one cryptocurrency to another, it is a cost to be paid to overcome the large inconvenience of having thousands of cryptocurrencies purely for speculative purposes.

Cryptocurrency owners worldwide frequently incur significant losses through trading miscalculation caused by the volatile nature of the speculative exchange market.

As this benefit-cost relationship continued over time, cryptocurrency exchanges evolved too.

The fastest of the lot became known as Instant exchanges.

Speed-cost became a selective advantage.

The faster and cheaper you’re able to swap a coin for, the bigger the profitability you gave to your customers. And that equates to more loyal customers. Word-of-mouth is a precious marketing asset in the crypto exchange business.

It’s an arms-race to develop the most efficient algorithms that gave users the most profitability.

Now let’s take a look at some of these Instant cryptocurrency exchanges:

The Best Way to Instantly Convert Cryptocurrency
A. CoinSwitch

CoinSwitch is a unique Instant Altcoin Exchange Aggregator, works like a search engine but primarily for hunting down the best cryptocurrency exchange rates in the market.

For example,

I really don’t want to go to the trouble of visiting various exchange platforms to compare rate offers:

  1. Binance,
  2. Changely,
  3. HitBTC,
  4. Shapeshift,
  5. IDEX,
  6. Simplex,
  7. KuCoin,
  8. ChangeNow,
  9. SimpleSwap,

So I can ultimately just go to CoinSwitch and check the best rate offers from a dozen other exchanges.

Once you enter your desired cryptocurrency to exchange with, simply click on “View All Offers” and you will be presented with offers from every exchange platform including the likes of Binance, HUOBI, KuCoin, HitBTC, IDEX, Ethfinex and more.

Now I can just swap my cryptocurrency once I see an offer that I like.

They have a huge selection of Altcoins somewhere in the region of 400 with more than 45,000 pairs to choose from.

FEATURED IN

CoinSwitch Offers Best Market Rates in a Single Place.
COINSPEAKER.COM

CoinSwitch is essentially an exchange marketplace, through which users can access the crypto-markets. This model removes the need for multiple accounts across various exchanges or even one account for an exchange.”
COIN TELEGRAPH

“CoinSwitch is a one-stop destination for all your cryptocurrency trading needs.”
THE BITCOIN NEWS

Tip: Try our Coinzodiac Coinswitch exchange: Exchange.coinzodiac.com

Earn $5 when you complete a transaction of $100 on CoinSwitch here.

Walkthrough Guide using CoinSwitch

Step 1: Enter your Desired Conversion

Search from over 400 coins by typing in your cryptocurrency ticker symbol. Then Enter the amount you want to exchange > Click “View All Offers

Step 2: Choose your Desired Offer

Choose the one that gives you the most value and at the same time consider whether registration is required. (Denoted by “Login not required“)

Step 3: Provide your Wallet Address

Step 4: Send your Cryptocurrency to their Wallet Address

Step 5: Wait for your Coins to Arrive

Time-Limited Offer: Earn $5 worth of bitcoin when you complete a transaction of $100 on CoinSwitch here.

B. Changelly

Assets available 140+
Fees 0.5%

24-hour statistics:

  • 2831 transactions made
  • 74% Regular users
  • 18.4 minutes (Avg. processing time)
  • 40125 Visits

I personally used Changelly to convert and instantly swap my Altcoins effortlessly. They gave me the best rate and listed their fees transparently upfront. Changelly’s algorithms are integrated into some of the world’s most popular cryptocurrency exchanges like Bittrex and Poloniex.

Their partnership with A-list companies in the cryptocurrency space makes them highly robust and reliable. Binance for example provides Changelly with real-time cryptocurrency rates of almost 120 coins and tokens.

At 1,400,000 transactions per second, Binance is the fastest exchange on the planet, giving Changelly the ultimate unfair advantage when it comes to matching the best available rate at any moment in time.

Many Cryptocurrency wallets like the Trust Wallet, Exodus, Jaxx, Coinomi, Mycelium, Ledger and Trezor integrate Changelly’s API into their platform.

They are by far the most trusted service when it comes to instant exchanges. Having served over 2 million registered customers worldwide.

How to Instantly Swap Any Cryptocurrency (At the Best Rate)

Step 1: Check the Rates

Changelly does not store your crypto on its servers. You will first need to have your own cryptocurrency wallet first.

I am using the Ledger Nano S to secure my crypto

Step 2: Enter your Wallet Address

Step 3: Send your Crypto to their Address

Step 4: Wait for Confirmations

Step 5: Done!

I tested this twice by converting all my Altcoin in two separate transactions. It took about 60 minutes to receive bitcoins at my end as soon as 16 confirmations were registered on the blockchain.

Check out Changelly’s Rate on CoinSwitch right here and compare it for yourself.

 

C. ShapeShift

Shapeshift used to be a fantastic Instant exchange service that fought for user anonymity and privacy. I used them back in 2017 when I could just switch my coins at a click of a button.

Finally they caved into regulatory pressure and opted to brand their new KYC and AML procedures as membership loyalty programs. Registered customers are given tokens known as “FOX” to help ease the transition of requiring users to hand in their private information and national identities.

Today, you need to register and verify your I.D. by scanning in your personal documents before you can even swap one cryptocurrency for another. This used to be mandatory for fiat-crypto exchanges, but requiring all crypto-crypto users to verify for this simple conversion service is a huge drawback.

A unique feature: Choose between Quick or Precise (Quick for flexibility and convenience)

Shapeshift doesn’t hold any of your crypto, so it should be safe. However, they were involved with an inside job where their employee emptied a Bitcoin wallet totaling a loss of somewhere in the region of $200,000. As a result, their exchange were briefly taken offline to secure the system.

Check out Shapeshift’s Rate on CoinSwitch here.

 

D. ChangeNow

An Instant Exchange that doesn’t need your:

  • email
  • password
  • personal I.D.

You don’t need to go through any lengthy sign-up procedures.

There is no maximum amount for crypto exchange on ChangeNOW. Swap as much as you want! (Most exchanges require you to verify your phone or I.D before you can enjoy larger limits.)

How ChangeNOW Works:

Select your crypto, use the drop down menu to choose your preferred cryptocurrency. Enter the amount and the service will automatically calculate the amount of crypto you get in return.

ChangeNOW doesn’t hold onto your crypto assets, so you will need to enter your own wallet address to receive your converted coins.

Click “Confirm” to proceed if you like the rate you’ve been offered.

Send the exact amount of cryptocurrency you agreed to the address provided and then wait until you receive your coins.

You can check out the rates offered at ChangeNOW here.

 

E. Bitpanda

Bitpanda is Europe’s leading retail exchange for buying and selling cryptocurrencies.

It launched the Instant swap feature back in 2018 which allows registered customers to instantly convert their crypto from within their Bitpanda wallet account.

Reports have so far indicated that their swap service is somewhat expensive. Convenience does come at a price. Instant crypto conversion may not be their forte. But they do have a good track record when it comes to support and offering a wide-range of Altcoins for purchasing.

Their swap feature is only available after you’ve registered with them. And before you can use it, you will have to deposit your crypto into their custodied-wallet. There are no limits on your coin conversions.

Check Out their Instant Swap Service here.

 

E. Atomic Wallet

Atomic Wallet is not an Instant exchange but a light-weight universal cryptocurrency wallet that allows Atomic Swap Exchange.

Atomic Swap is new. It is different.

It allows you to convert one cryptocurrency for another without going through any 3rd party.

Even in all the Instant exchanges that I recommended above, all are highly subjected to third party whims and fancies. Exchange rates remain volatile, you may be presented with one offer, but end up getting another.

There are plenty of risks involved with going through third parties, your crypto assets may be taken hostage and you may be forced to reveal your identity. This has happened before.

For this reason alone, you should consider the risk of initiating a transaction through any centralized exchange.

That is why, Atomic swap exchanges are revolutionary.

They offer something incredibly valuable for Instant conversions which are permissionless, unconfiscatable, neutral & decentralized.

For example, say you wanted to exchange some BTC for LTC. All you need to do is to place an order in the wallet’s decentralized order book. You don’t even need to register for any service or use some intermediaries like exchanges or swap platforms. Your bitcoins will be safely transferred to the Litecoin blockchain, so you will get back the equivalent amount of LTC you originally ordered.

Currently, Atomic Swap only supports 3 pairs of cryptocurrencies (LTC-BTC-QTUM). Atomic Swaps for ETH will be released soon. (They’ve partnered with Changelly, Shapeshift and ChangeNOW for other swap pairs)

Conclusion

No matter which Instant exchange you choose to convert your coins, please note that they all employ an automated risk management system to check all transactions.

Each case will be considered individually and they will not reveal their procedures to anyone.

According to European AML directives, KYC regulations, and platform requirements, they will ask you to provide a scan of your ID document valid in your country, as well as some additional information on the funds’ origin if they detect any anomalies.

All in all, there’s very little to separate these instant cryptocurrency exchanges, but the uncertainty over trading would sway them slightly in your favor. Read this article on why you shouldn’t trade cryptocurrencies.

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Winson Ng

I Started hearing about bitcoin only in November 2017. As a solo-preneur who has build around the Maverick Philosophy, I found bitcoin to be just the tip of the spear. I watched to see who was getting into it, some of the smartest entrepreneurs who has made their fortunes being the first movers allocated portions of their investment portfolios to Bitcoin. I studied and realized that if it worked, bitcoin was going to be the first global decentralized currency. And that has never existed before. Ever. I was Hooked!

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