Today, buying almost any cryptocurrency is incomparably easier than 5-7 years ago. Search engines kindly provide a huge selection of links to platforms where digital coins are traded. Among them are centralized (CEX) and decentralized cryptocurrency exchanges (DEX), peer-to-peer platforms and fast exchange services.
Actually, all of them were originally intended for the purchase and sale of cryptocurrencies. The functionality of trading platforms has evolved differently. Now there are significant differences between them, although ETHBTC exchange is available on almost every one.
Fast exchange services are designed for the simplest possible swap of one cryptocurrency for another. The functionality of modern CEX is much wider. In addition to fast swaps, they offer many other options, and many of them aim to create a complete ecosystem of products based on digital assets. Many sites allow users to invest their coins, take out loans using their cryptocurrency as collateral, and also apply for a VISA card for everyday crypto payments.
Cryptocurrency fast exchange platforms are ideal for users who want to exchange coins anonymously. On most of these websites, there is no need to go through KYC procedures and users can simply receive the chosen coin in their wallet.
Such platforms are also much easier to use. Most of them allow users to exchange currencies directly from the main page, with transactions usually completed within an hour (transaction time may vary depending on the types of currencies being exchanged).
In addition, exchangers usually have fewer geographic restrictions. Users from some countries may not be able to access their preferred exchange, but will most likely be able to use exchange sites to purchase their chosen coin.
The platform is incredibly easy to use (which is reflected in its name). Users can instantly exchange one coin for another directly from their home page. It is also possible to convert fiat currencies to cryptocurrencies through the corresponding tab on the main page.
On the platform, almost any cryptocurrency can be exchanged for another. Even though the total number of fiat currencies is limited to around 15, virtually every coin with even a small user base is available for exchange on SimpleSwap.
Finally, there is a loyalty program that allows you to receive cashback for currency exchange. Cashback is earned in the SWAP coin owned by the platform. This coin can then be used to purchase discounts and additional cashback on SimpleSwap.
Changelly offers over 200 altcoins and gives users the choice between floating or fixed rate exchanges.
Users can easily exchange, buy and sell cryptocurrencies using the homepage. In addition, Changelly offers its users the opportunity to trade currencies through the PRO version of the platform. However, for users who plan to regularly trade cryptocurrencies, it is better to choose a CEX such as Binance, KuCoin or another similar platform.
SwapSpace functions as an aggregator, ensuring users get the best rate when exchanging one currency for another. But the rates found on the platform are generally similar to other options from the list.
Coins can be exchanged through the home page. However, there is also a separate page for buying cryptocurrency with fiat currency. Similar to Changelly, the platform currently accepts just over 15 fiat currencies. However, to access fiat crypto transactions, you will need to go through strict KYC procedures.
This is a fixed rate platform that allows users to instantly and anonymously exchange digital currencies. There are currently over 300 different coins offered on the platform, and virtually every popular cryptocurrency is available for swap. Godex completes transactions in an average of 5-30 minutes, while on many other platforms it can take 30 to 45 minutes. Crypto-fiat transactions on Godex are not supported.
The platform supports over 3900 cryptocurrencies and several fiat currencies. When applying for a DOGE to CAKE swap, users can choose between fixed and floating rates. The speed of the transaction depends on the workload of the blockchain.