Changelly vs Shapeshift – Detailed Comparison Guide [For 2019]

This guide compares Changelly and Shapeshift, two popular cryptocurrency exchange services. It includes a detailed comparison of their features and fees, as well as the pros and cons of each service.

The shapeshift crypto is a cryptocurrency exchange that allows users to buy and sell various cryptocurrencies. This article will compare the two popular exchanges, Changelly vs Shapeshift.

If you’re talking about decentralized exchanges, Changelly and Shapeshift are almost certainly on the table. After all, these two platforms are often credited for bringing decentralization’s advantages to the masses. These well-known exchanges revolutionized the way we think about traditional digital currency trading.

Each site removed the time-consuming procedures connected with bitcoin exchanges by allowing consumers to trade without having to create accounts or trust centralized exchanges with their money. If you have bitcoin and know what you want, you can use one of these two exchanges to get it.

Users, on the other hand, often have difficulty deciding between the two options. While these two systems have many similarities, they also have some key distinctions. Those will be highlighted throughout our comparison of these two instant messages.

Let’s take a look at everything Changelly has to offer to get started:

  • Available cryptos include BTC, LTC, XRP, ETH, Cardano, and many more.

  • Deposit Options: Cryptocurrency and Credit Card

  • GBP, USD, and EUR are all accepted currencies.

  • Email for assistance

  • Fees are 0.5 percent of the total.

Changelly

Changelly was launched in Prague in 2016 and has quickly become one of the market’s leading rapid exchange providers. The site makes purchasing cryptocurrencies a pleasurable experience for everyone who views it, thanks to its clean design and simple navigation.

If you opt to buy or sell cryptocurrencies on the Changelly exchange, you’ll see that the exchange’s rates are transparent right away. Just remember that the rate quoted before the transaction starts is an estimate. It’s possible that the quantity you’re given isn’t correct. This may vary depending on how much the rate fluctuates at any particular time.

Changelly users have two options: 1) trade crypto-to-crypto or 2) swap their fiat money for digital currencies. Users may buy cryptocurrencies using their Mastercard or VISA credit cards, as well as their debit cards, via Changelly. Changelly has no geographic restrictions, therefore people from all around the globe may utilize the service.

Changelly promises to be the finest cryptocurrency trading solution available. Nearly 100 digital currencies are now available on the site. While there are no limitations on the number of trades a user can make, the site does impose restrictions on bank card transactions based on where you live. This information may be found in the site’s FAQ section.


The First Steps

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On Changelly, getting started is easy and uncomplicated, but you must first establish an account. Simply follow the steps to set up your Changelly account, and you’ll be able to choose the currencies you wish to use.

One thing to keep in mind is that Changelly uses two-factor authentication, so if you don’t already have Google authenticator, you should get it.

Select the Exchange option once you’ve set up your chosen currencies. You’ll choose your deposit address on the following screen. You may select whether to scan the amount or transfer it to a particular wallet address from this screen.

When you press send, you’ll immediately get your output cash. That is all there is to it. You’ve converted one currency into another. If you haven’t already, transfer your money to an offline wallet for safety.


Methods of Payment

Because of the payment methods Changelly supports, using the service to trade cryptocurrency is also simple. Users may deposit money via credit cards (Master and Visa are accepted) or normal cash transfers, which the site facilitates through business partnerships. Users may, of course, finance their accounts with cryptocurrency.

Acceptance of credit cards and fiat transfers is critical since it allows novice crypto investors to buy currencies quickly. Many of today’s exchanges will not take any fiat currency as a deposit option. By doing so, Changelly distinguishes itself.


Fees

For all exchanges, Changelly charges a fixed commission fee of 0.50 percent. It will be shown at the top of every transaction that users make on the site. Furthermore, credit card transactions may be subject to additional costs imposed by the credit card issuer or Changelly’s payment partner.

Changelly does not specify a set rate for transactions, despite the fact that there are a few fixed costs on the site. Because of the nature of the crypto market, this is the case. When a transaction is conducted, the site tries its utmost to offer the best rate possible.


Cryptocurrencies that are supported

Changelly has a large number of trading pairs, which makes it more attractive to those who want to trade currencies. Changelly allows customers to exchange any two cryptocurrencies with little effort since it supports so many digital currencies. Most conventional exchanges only offer a few trading pairs, requiring customers to make several transactions or visit different websites in order to get the currency they want.

With Changelly, however, this is not the case. With only one transaction, users may establish their own trading pairings. The transaction is handled through the website. So, if you wish to exchange part of your mined Nimiq for Ripple, you may use Changelly to do so.

Our dedicated exchange review has a complete list of the cryptos that can be traded on Changelly.


Security

You’re just trading currencies with Changelly. Because you aren’t keeping them on the site, you don’t have to worry about them being stolen. All you have to do is purchase or trade for the currency you want. It goes to the wallet address you give in either case.

It’s the same with fiat money. They are only utilized when you submit them via Changelly and are not stored on the site. The money are sent to the site, and you get your bitcoin very instantly.

Changelly is a safe and secure way to trade cryptocurrencies since it completes transactions from beginning to finish without storing them in an onsite wallet. It implies you’re in charge of your digital assets and making sure they’re delivered to the proper wallet address.


App for mobile devices for Changelly

For individuals who need to make swaps on the move, Changelly also has a mobile app. You won’t have to worry about getting lost in the app since it’s straightforward and simple to use. From the app, you can check current exchanges and fees, see your history, and contact support.

Google Play Logo

Now is the time to get the Changelly App!

 


Changeable Advantages and Disadvantages

Pros:

  • The UI is simple to use.
  • Available in every country
  • Mobile app that is easy to use
  • Trading bitcoins in a safe and secure manner
  • Quick liquidity access

Cons:

  • It is not possible to exchange bitcoin for fiat cash.
  • Fees are higher than on other exchanges.
  • Available cryptos include BTC, LTC, XRP, ETH, Cardano, and many more.

  • Deposit Options: Cryptocurrency and Credit Card

  • GBP, USD, and EUR are all accepted currencies.

  • Email for assistance

  • Fees are 0.5 percent of the total.


Shapeshift

Shapeshift logo

Erik Voorhees founded Shapeshift in the year 2013. This quick exchange focuses on providing customers with direct crypto-to-crypto transactions. Users can trade cryptocurrencies fast and simply using Shapeshift. The site is simple to use and browse, and the user is required to provide very minimal information.

Because Shapeshift transactions are instantaneous, no bitcoin is stored on the exchange. Instead, the site sends the currency to the user’s provided wallet address. Shapeshift may also be utilized from anywhere on the globe. Your transaction limitations, however, may be determined by your region.

While the site claims to have quicker execution times than Changelly, as bitcoin grows, exchange times will go down regardless of which exchange you choose. Shapeshift, on the other hand, does an excellent job of displaying the current rate of a transaction as well as the anticipated miner fees.


The First Steps

Changelly-vs-Shapeshift-Detailed-Comparison-Guide-For-2019

If getting started with Changelly is simple, describing Shapeshift is difficult. To utilize Shapeshift, you’ll need to create an account, but it’s incredibly easy to do so. You’ll need to provide an email address and a password to the site, as well as confirm your address.

Shapeshift used to not need account registration, but it switched to a membership platform to provide its customers additional capabilities. Users now have access to transaction history, as well as volume exchange discounts and greater trading limits.

After you’ve set up your account, all you have to do now is choose the currencies and quantities you wish to trade, as well as your wallet addresses, and you’re ready to go.


Methods of Payment

Shapeshift exclusively accepts crypto-to-crypto exchanges, which implies that all transactions must be conducted in digital currency. If you don’t have any crypto to trade, you’ll need to go to a fiat-accepting exchange before accessing Shapeshift. The same is true when it comes to withdrawing money from Shapeshift. If you wish to withdraw fiat money, you’ll need to transfer your asset to an outside exchange.


Fees

Apart from a miner’s fee paid directly to each blockchain, Shapeshift does not disclose its fees openly. Instead, the exchange provides a rate that is based on current market trends and circumstances. The amount will vary from currency to currency since this rate is unique to each coin accessible on the site.

The site utilizes a variety of market information to estimate how much each coin is worth. Shapeshift makes a little profit on each transaction, which it uses to refill its currency holdings.


Cryptocurrencies that are supported

Shapeshift is a fast cryptocurrency exchange that presently supports over 50 different coins. Many digital currencies are “temporarily unavailable,” according to the site. According to the website, this is due to the fact that certain coins need specific care, rendering them temporarily unavailable for trade.

Shapeshift does support the most prominent cryptocurrencies, so you’ll have no trouble trading them on the platform. Bitcoin, Dash, DogeCoin, Ethereum, Ethereum Classic, Zcash, Ripple, and more cryptocurrencies are available for trading. However, before you begin working with Shapeshift, you should check their website to see whether they offer the cryptocurrency you need.


Security

Shapeshift has recently made modifications to its recording procedures in order to improve the security of its website for its users. While personal information is needed upon sign-up, the assets you trade are stored in the wallet address you give. The money is not held by Shapeshift.

This means the bitcoin you’re trading will be sent directly to your wallet. You won’t have to worry about the exchange keeping your money until you’re ready to withdraw it. As a result, you don’t have to be concerned about the security of your money or Shapeshift’s rules.

If you’re concerned about the security of your personal information, Shapeshift claims that it’s only accessible if you submit a ticket that needs Shapeshift assistance. Personal information is not necessary to submit a ticket, but it may be needed to address a connected issue or problem.


Shapeshift is a mobile application.

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Shapeshift, like Changelly, has a mobile app for its customers. It works on both iOS and Android devices, so you don’t have to worry about having a specific device to utilize it. Having a mobile app on hand is ideal for individuals who prefer to trade on their phones or who don’t have access to a computer.

The Shapeshift mobile app has one disadvantage: it does not support all of the currencies that the Shapeshift desktop site does. Shapeshift claims that this is due to laws stating that some currencies cannot be traded through mobile.

ios logo

Now is the time to get the Shapeshift iOS app!

Android logo

Now is the time to get the Shapeshift Android App!


Pros and Cons of Shaeshift

Pros

  • Transactions are completed instantly.
  • 50 different coins are supported.
  • Trades are only subject to network costs.
  • Currencies are not stored on the site; instead, they are transferred directly into your wallet.
  • There is a mobile app available.

Cons:

  • The exchange rate varies depending on the coin you’re exchanging.
  • There are no deposits or withdrawals in fiat money.
  • Not all coins are supported by the mobile app. The webpage is helpful.
  • Low liquidity for coins that aren’t as well-known.

Table of Differences between Shapeshift and Changelly

To assist you understand how these decentralized exchanges differ, we’ve developed a comparison table pitting Changelly and Shapeshift against one another:

  Shapeshift logo
Established 2015 2014
Fees of Exchange 0.5 percent per transaction Depending on the coin, it varies.
Fees for Deposits Medium There is no need to make a fiat deposit.
Cryptocurrencies that are supported 100+ 10
Methods of Purchase and Deposit cryptocurrencies, banks, visas, and credit cards Crypto
Deposits in Fiat Currency
2FA
Trading on Margin
Customer Service Email & Frequently Asked Questions Ticket at the Help Desk
Mobile App
Have you made your decision? Join the Changelly community. Join Shapeshift Today!
Read the rest of our review Read More Read More

Last Thoughts

Changelly is the ideal match for you if you’re new to the cryptocurrency world and want to swap your fiat money for cryptocurrency without the bother of utilizing a full-fledged exchange. Changelly goes to great lengths to make its website user-friendly and understandable, and it provides a diverse range of cryptocurrencies.

Shapeshift does have a large number of cryptocurrencies available on its website. The list, however, is restricted. It doesn’t let you to trade using fiat currencies, and its fees aren’t as clear as you’d want. Shapeshift, on the other hand, provides a lot of services and features to its customers, so you’ll still have a nice time there.

I appreciate that Changelly allows me to trade using fiat currency. I may purchase the currency I desire and immediately transfer it to my wallet. It saves me the time and effort of converting fiat money to Bitcoin and then going to a separate website to get the cryptocurrency I want. If I don’t have to go through a lot of hoops to obtain the digital currency I like, I don’t mind waiting a bit longer for the transaction to finish.

If you don’t want your money kept on an exchange, I can understand the advantage of Shapeshift conducting crypto-to-crypto transactions. There is a distinct benefit to having your crypto sent directly to your wallet rather than waiting for you to withdraw it from an exchange.

The decision between the two is based on what you need from an immediate exchange. Changelly, which takes money, may be a better option for people new to crypto. Shapeshift, on the other hand, may be the way to go if you’re already acquainted with cryptocurrency because of its quicker transfers and crypto-to-crypto exchanges.

[ratings]

DISCLAIMER: The activity of the cryptoassets discussed in this paper is uncontrolled. This post is not intended to provide financial advice. Always do independent research.

The is shapeshift safe is a question that has been asked many times before. This comparison guide will help you find out which service is the best for your needs.

Related Tags

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  • changelly reviews
  • shapeshift review reddit
  • is shapeshift legit reddit
  • shapeshift fees

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