Platforms that facilitate crypto swaps are increasingly becoming the pillar of the digital asset revolution. This article discusses the eight best platforms you can use to swap your crypto.
What’s Crypto Swapping?
Crypto swapping allows one to exchange their cryptocurrency for another without converting it to fiat currency first. One of the advantages of using crypto swap platforms is that they help you to avoid high transaction fees charged by financial institutions that facilitate crypto-to-fiat transactions.
Eight Top Platforms to Swap Crypto
Changelly
Changelly offers more than 450 crypto assets for swapping. One major benefit of using this platform to swap tokens is that the exchange fees are considerably low (0.25%). As a decentralized crypto swap platform, Changelly has partnered with several wallet providers like Trezor, Ledger, Exodus, and Trust Wallet to give you total control over your crypto.
Once you connect one of those wallets to your Changelly account, you can easily swap crypto by sending your holdings to the given address to receive the new tokens. But how do you open an account with the platform? It is simple. Changelly only asks you to provide a working email address to start swapping crypto. That also makes it possible to transact anonymously.
Binance Converter
We recommend that new crypto users try Binance Converter to swap their tokens because the platform is user-friendly. It also allows you to swap all the tokens listed on Binance. Before completing a crypto swap, Binance Converter usually provides you a preview of the number of tokens you will receive and the conversion rate to help you decide whether you still want to continue with the swap. How much does it cost? Binance does not charge a swapping fee.
Bybit Converter
Crypto exchange Bybit allows users to swap crypto without leaving the platform through its converter. You do not incur any swapping fees when using Bybit Converter. To exchange one token for another, you must hold crypto in the following accounts; funding, inverse derivatives, and Derivatives. Note that it is impossible to convert your bonus balance to any cryptocurrency.
Nexo Swap
Crypto exchange Nexo, which started operations in 2018, allows its over 5.5 million users to use the Nexo Swap to exchange tokens at zero fees. As of this writing, you can only swap about 60 tokens. The trading platform boasts deep liquidity; therefore, you are assured that your transaction will be executed almost instantly. One of the disadvantages of Nexo Swap, however, is that the service is unavailable in some regions, including Australia and Canada.
BingX Converter
Crypto exchange BingX, which is popular for offering copy trading, has a feature that lets users convert their crypto to a selection of over 500 tokens. But it’s not free. BingX charges 0.2% of the total amount of tokens to be swapped. Unlike Nexo Swap, all BingX users can use the platform’s converter.
Ledger Swap
Owners of Ledger wallets can exchange their tokens through third-party swap platforms like Changelly. New crypto users may find this process to be complex. For experienced users, swapping is usually initiated on Ledger Live. First, you pick the tokens to swap, then preview the exchange rate and confirm the transaction. You will receive the exchanged tokens once the swap provider receives and approves your transaction. Using Ledger Swap will cost you 0.25%.
SimpleSwap
SimpleSwap offers users an easy way to swap more than 490 cryptocurrencies, as they do not need to create an account on the platform. All one has to do is connect their wallet to the website and select the token they wish to swap. The high liquidity facilitates the quick execution of transactions. Even better, it does not cost a dime to swap tokens.
ChangeNow
You can swap over 400 cryptocurrencies using ChangeNow without disclosing personal data. In addition, there are no restrictions on the number of tokens one can exchange. This makes ChangeNow an ideal option for users looking to swap crypto in large volumes. Keep in mind that a 0.5% swap fee is incurred.
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