Cryptocurrencies gain more and more popularity among investors. Thanks to their decentralized system and lack of a single authority, it seems safer and easier for many to make profit from crypto coins or tokens. However, people who try to make money from digital assets should know a few things to be on the safe side. For example, in the rapidly changing world of digital money it makes sense to keep your finances in different cryptocurrencies. You can also make profits through crypto arbitrage by trading your cryptos. But here comes a question: what are the best services for safe, cheap and fast cryptocurrency transactions?
You can currently choose between many projects that offer crypto exchanges at different rates, speeds, and conditions. First of all, there are platforms like Binance, Coinbase, and Kraken that provide a classic exchange process. Basically, users can sell and buy cryptocurrencies through these platforms. This option is most suitable for those who want to look for the best trading offers themselves. However, it can be a bit much effort for those who just want to swap their currencies quickly. They often require users to reveal their personal information and take quite a long time to exchange a cryptocurrency. As these terms may not seem that attractive to all crypto investors, there are custody-free crypto exchange platforms that offer immediate exchange at a given rate.
Because of the simplicity of their service and the ability to maintain user confidentiality, these instant exchange crypto platforms have gained a lot of popularity and rapid growth. Crypto enthusiasts now have access to a wide selection of crypto exchangers. Security, exchange rates, privacy, and other important features of the platform are usually taken into account when making the choice.
Here are the main features you’ll need to know if you’re looking for the best non-custodial crypto instant exchange. In this article, I have reviewed the top 10 custody-free swap exchange services and pointed out their main pros and cons. To compare the rates of the platforms, I looked at how much Ethereum each platform was going to offer in exchange for 0.1 BTC in a bear market at the end of the year (December 22, 2021). Below you will find screenshots and a table showing my findings.
SimpleSwap is a non-custodial crypto exchange service. The platform supports a wide range of currencies, more than 300 digital and fiat coins. With SimpleSwap, you can exchange at a floating or a fixed rate.
SimpleSwap offers both a website and a mobile exchange app for Android and iOS. The team is committed to preventing mass system failures and providing 24/7 support for its customers.
Testing 0.1 BTC to ETH at SimpleSwap
The expected amount of Ethereum exchanged for 0.1 BTC was going to be 1.20369627 at a floating rate and 1.15822584 at a fixed rate.
Speaking of SimpleSwap’s disadvantages reported by its customers, they include a lack of advanced trading tools and a need to buy a subscription to increase cashback rates.
ChangeNOW is another non-custodial cryptocurrency exchange service. It offers simple, fast, and limitless crypto swaps.
ChangeNOW provides some of the lowest exchange rates and fast transactions that take 2 minutes on average to complete. Money can be exchanged at both fixed and floating rates, and there are no upper limits for the exchange. Extra perks like cashback and referral rewards are available for registered users and partners. The ChangeNOW team considers reliability to be one of their key advantages and offers 24/7 support to all its users.
The ChangeNOW website supports 14 languages, over 300 crypto coins and about 65 fiats. Both crypto-to-crypto and crypto-to-fiat exchanges are available.
ChangeNOW has a broad infrastructure which includes loans and payment services, Telegram-bot, etc. Some of the ChangeNOW products are a mobile exchange app, a portfolio tracking tool, NOW Tracker, and NOW Wallet.
Testing 0.1 BTC to ETH at ChangeNOW
The expected amount of Ethereum received when I tried to exchange 0.1 BTC for ETH on ChangeNOW was 1.2064985 at a floating rate and 1.20430075 at a fixed rate.
It’s difficult to find crucial disadvantages of ChangeNOW, with their ecosystem and reputation in the community. Let’s just assume the rates are not the cheapest at the market.
Godex.io is another non-custodial instant exchange service. It offers anonymous crypto exchanges at a fixed rate and no upper limit. No KYC is required for crypto transactions. The service supports 301 digital currencies but does not provide crypto-to-fiat exchanges. Godex gives an opportunity to track fluctuations of top crypto coins’ prices for the last 24 hours on their website.
The Godex crypto transactions take around 5 to 30 minutes to complete.
Testing 0.1 BTC to ETH at Godex
Godex offers transactions only at a fixed rate. The amount of Ethereum when exchanged for 0.1 BTC was going to be 1,23817312 ETH.
Godex customers are satisfied with the service’s simplicity, speed, rate and reliability. However, since the project is relatively new, it has some shortcomings. Besides crypto not being able to be converted to fiat, there is no support for mobile apps.
Exolix is an anonymous crypto swap service which was founded in 2018. Among the most important features of Exolix are no upper limits and fixed rates. As the platform does not require a sign-up or KYC procedure, all user data remains secure. Exolix provides 24/7 transaction statistics and customer support. Over 500 cryptocurrencies are available for conversion on the platform.
Testing 0.1 BTC to ETH at Exolix
When exchanging 0.1 BTC for Ethereum at a fixed rate, the customer would receive 1.19645394 ETH, at a floating rate – 1.20255269 ETH.
There are numerous drawbacks to Exolix, including the lack of fiat currencies and advanced features. The platform is also relatively new so its reliability has yet to be proven.
StealthEx is an instant exchange platform that provides quick and easy crypto swaps. Customers do not have to disclose any of their personal data to carry out a transaction. Swaps are available at floating and fixed rates. StealthEx provides complete privacy to its users and does not set an upper limit for exchanges. StealthEx was designed for both experienced and novice crypto investors, and is very easy to use. It supports over 400 coins and tokens that can be exchanged.
Testing 0.1 BTC to ETH at StealthEx
StealthEx was going to give ≈1.1970238 ETH in exchange for 0.1 BTC at a floating rate and 1.19822748 ETH exchanged for 0.1 BTC at a fixed rate.
Although StealthEx has a large number of cryptocurrencies, it does not offer crypto-to-fiat transactions. Moreover, the service is only available through the website.
Swapuz is a relatively new and not so well known crypto exchange service. It offers fast and limitless crypto exchanges. The platform supports over 300 digital currencies but does not provide crypto-to-fiat transactions.
Exchanges at both fixed and floating rates are available. The average processing time of a transaction is 5-10 minutes. Swapuz claims to provide transparent and reasonable fees. This service provides 24/7 support and shows the last 24 hour statistics on its website.
Testing 0.1 BTC to ETH at Swapuz
Swapuz offered approximately ~ 1.2043911 ETH in exchange for 0.1 BTC at a floating rate and 1.1948 ETH at a fixed rate.
The platform has several drawbacks, including its inability to support fiat currencies. Additionally, Swapuz does not offer any additional features or products beyond crypto exchanges.
FixedFloat is a lightning cryptocurrency exchange service. It declares to provide the lowest exchange rates and the highest transaction speed. The platform chooses the best deal for customers according to their demands. Comparing this platform with others, its main advantage is the Lightning network support.
FixedFloat considers transparency to be one of their key advantages. The service claims not to have any hidden fees. They take a fixed commission fee of 1% for the transaction at a fixed rate and 0.5% for the exchange at a floating rate. The platform doesn’t have any upper limits and provides 24/7 customer support.
Testing 0.1 BTC to ETH at FixedFloat
FixedFloat offers exchange rates according to its fixed transparent commission fees: 0.1 BTC would be worth when exchanging ≈1.2116354 ETH at a floating rate and 1.2043536 ETH at a fixed rate.
Since FixedFloat hasn’t been around for too long, it still lacks a wide range of trading tools and has potential for improvement. One of its major disadvantages is again its inability to support fiat currencies.
InstaSwap is a non-custodial crypto exchange service based in Europe. The platform supports a wide range of currencies, both digital and fiat. It claims to offer some of the best market exchange rates and carry out transactions in 10 to 30 minutes. The fees for each transaction start at 0.25%. Users don’t have to create an account or share their personal information to exchange cryptos. The website’s interface is simple and beginner-friendly.
Testing 0.1 BTC to ETH at InstaSwap
InstaSwap allows its users to carry out transactions only at a floating rate. In my case, 0.1 BTC could be exchanged for 1.21339263 ETH.
The platform still lacks many advanced features and perks that many other similar services have, such as cashback and affiliate programs, and mobile apps. Furthermore, InstaSwap has a maximum exchange amount even though it is said to be high.
LetsExchange is another non-custodial crypto instant exchange. It supports more than 200 digital coins and offers transactions without upper limits. A simple and minimalistic design makes this service very easy to use. Since LetsExchange does not require users to register, exchanges can be done really fast. Customers can opt to carry out a transaction at a floating or fixed rate. No personal data is shared with any third parties. LetsExchange offers 24/7 customer support.
Testing 0.1 BTC to ETH at LetsExchange
The transaction rates at LetsExchange were approximately 1.21016328 ETH in exchange for 0.1 BTC at a floating rate and 1.20405693 at a fixed rate.
The platform’s primary function is crypto exchanges, which it handles rather efficiently. As of now, there are no additional features and the cryptocurrency cannot be exchanged for fiat.
ChangeHero is another non-custodial crypto exchange platform. As with many of its counterparts, it may ask you to go through a KYC or AML process if the exchange looks suspicious. It states that it selects the best rates and operates at the highest speed, with no maximum exchange limits. 24/7 customer support is available to ChangeHero users. ChangeHero offers crypto exchanges not only on their website but also with the help of its Telegram bot.
Testing 0.1 BTC to ETH at ChangeHero
ChangeHero offered a transaction rate of 1.2081043 ETH in exchange for 0.1 BTC at the best (floating) rate and 1.1960946 ETH at a fixed rate.
Despite its advantages, ChangeHero does not come without limitations. It does not support any fiat currencies and only offers crypto-to-crypto transactions. Over 80 digital currencies are available on the platform, which is quite a few compared to other services.
Crypto exchange aggregators
As we are discussing crypto exchanges, I think it is important to mention that there are services that can assist in choosing the right platform. These services are crypto exchange aggregators such as SwapZone and SwapSpace. They act as search engines that aggregate direct exchange rates from various platforms. Users can compare exchangers based on their rates, speed, reviews, etc. Crypto exchange aggregators usually support a large number of coins and tokens, and often offer such benefits as cashback and affiliate programs.
You can use aggregators if you don’t feel like doing all the research on crypto exchange services yourself. You should keep in mind, however, that aggregators are not responsible for the transactions that take place on the platforms they offer.
Now that we have reviewed some of the top instant crypto exchangers, you have at least 10 options to choose from. Below is a table summarizing the key features of each service. So, you can weigh the platforms’ pros and cons and choose the one that works best for you.
|Name||Supported Crypto Currencies||Supported Fiat Currencies||Rates/ Limit/ Speed||0.1 BTC -> ETH Test||Products|
|SimpleSwap||Over 300||6||Floating/fixed rates, no limits, 5 to 60 min||Floating:
|ChangeNOW||Over 300||64||Floating/fixed rates, limitless, up to 2 min||Floating: 1.2064985
|Mobile app, Telegram-bot and other products|
|Godex||301||no||Fixed rates, unlimited, 5-30min||Fixed: 1,23817312||Mobile app coming soon|
|Exolix||Over 500||no||Fixed rates, no upper limits, 5 to 30min||Floating:
|Mobile app coming soon|
|ChangeHero||Over 80||no||Best/fixed rates, no limit, 17min on average||Best: 1.2081043
|Swapuz||Over 300||no||Fixed/floating rates, limitless, 5-10min||Floating: ~ 1.2043911
|FixedFloat||37||no||Fixed/floating rates, has limits, typically under 30 min||Float: ≈1.2116354
|InstaSwap||About 130||40||Floating rate, high limit, 10-30min||1.21339263||no|
|StealthEx||Over 400||no||Floating/fixed rates, limitless, 5 to 30min||Floating: ≈1.1970238
|LetsExchange||200||no||Floating/fixed rates, no limits, within a minute or longer||Floating: 1.21016328
There are many platforms that can be used for instant crypto exchange, but choosing the right one will depend on your needs. There’re one-stop services, such as SimpleSwap and ChangeNOW, that offer a wide variety of features and meet the needs of most customers. In any case, if there is a particular part which interests you, you can compare the terms of different platforms offering it.
- For example, if a large number of currencies is important for you, it would make sense to opt for a service that supports many coins. Out of reviewed exchanges the highest number of currencies is supported by Exolix, StealthEx, SimpleSwap, and ChangeNOW.
- If you are looking for anonymity, we recommend StealthEx, SimpleSwap, and Godex. Custody-free platforms do not require registration for crypto transactions and do not keep any of your personal data or money.
- If you wish to exchange crypto for fiat, you should look for a service that supports these transactions, such as SimpleSwap, ChangeNOW, or InstaSwap.
- If you are looking for the quickest exchanges, try one of the speediest crypto swap services, such as LetsExchange, ChangeNOW, or Swapuz.
In my opinion, if I were asked to pick only one of these platforms, I would select ChangeNOW since it provides most of the common features a typical user might require, such as the support of the most popular cryptocurrencies, a wide choice of fiat currencies, which is what users generally need, and transparent exchange rates.
Anyway, I hope that the article has been of help but I still encourage you to do your own research or at least refer to one of the crypto exchange aggregators mentioned above.