Cryptocurrency swaps allow traders to seamlessly exchange one digital asset for another without going through a centralized crypto exchange. Swap services provide fast, affordable, and private crypto trades.
In this updated guide, we’ll highlight the key benefits of using crypto swap platforms. We’ll also review the top 7 highly-rated swap services to use in 2023 based on factors like fees, supported assets, speed, and reliability.
What is a Crypto Swap?
A crypto swap allows you to directly exchange one cryptocurrency for another, rather than buying and selling each coin separately.
For example, if you have 1 ETH but want to obtain some Bitcoin, you can use a swap service to directly exchange your 1 ETH for the equivalent value in BTC without having to first sell the ETH.
Swaps provide a faster, simpler way to trade between cryptocurrencies. They are performed peer-to-peer between users’ wallets, without requiring you to deposit funds to an exchange.
Popular swap services also aggregate liquidity and rates across multiple exchanges to find you the best rate for the swap you want to perform.
Key Benefits of Crypto Swaps
Here are some of the main advantages that swapping cryptocurrencies offers over using an exchange:
- Speed – Swaps are generally completed within minutes, while exchange deposits and withdrawals can take longer.
- Convenience – There’s no need to create accounts on multiple exchanges. Swap services are easy to use from your wallet.
- Privacy – Swaps don’t require personal information or account creation. You remain anonymous.
- Lower fees – Direct swaps often have lower fees than trading through exchange order books.
- Accessibility – Swap services are available to anyone worldwide with an internet connection.
- Price – Swap aggregators source liquidity from multiple exchanges to get you the best rate.
Now let’s look at the top crypto swap platforms available.
Swap Crypto Instantly Step-by-Step
Bybit is a the best crypto exchange that also offers a seamless crypto swap service through its Converter feature. Here’s how to use it to instantly swap coins:
- Sign up – Create a free Bybit account and verify your details
- Wallet transfer – Deposit the cryptocurrency you want to swap into your Bybit wallet.
- Select swap – Go to the Converter page and choose the cryptocurrencies you want to swap.
- Preview swap – Review the details including exchange rate and network fees.
- Confirm swap – Double check your recipient address and confirm the transaction.
- Completed – Once confirmed, Bybit will process the swap and send your exchanged coins to your specified recipient address.
It’s a quick and easy process with no trading limits or additional fees beyond the displayed network costs. Bybit Converter supports swaps between hundreds of cryptocurrencies including BTC, ETH, BNB, SOL, ADA, DOT, and stablecoins.
Top 7 Crypto Swapt Sites Reviewed
1. Bybit Converter
Bybit is a fast-growing crypto futures and options exchange launched in 2018. Bybit allows traders to speculate on the future prices of cryptocurrencies with leverage up to 100x.
In 2022, Bybit launched its seamless Converter feature to provide quick swaps between digital assets. Bybit Converter has become popular thanks to its:
- No limits – Swap any amount with no maximum limits or caps.
- No fees – Bybit charges zero trading fees for crypto conversions. Users only pay network transaction fees.
- Top liquidity – Swaps powered by key liquidity providers to ensure users get the best rates.
- Speed – instantly
Bybit accepts credit/debit card payments and handles KYC verification for 180+ countries. Once crypto is in your Bybit wallet, navigate to Converter to swap between any assets instantly.
The platform supports swaps between hundreds of coins including BTC, ETH, stablecoins, altcoins, DeFi tokens, and more. Overall, Bybit Converter is the easiest and most affordable way to convert cryptocurrencies if you already use Bybit.
2. EasyBit
EasyBit is a top-notch, leading crypto swap exchange based in Panama. Some of the characteristics of EasyBit are:
- Low fees – EasyBit offers fees below the industry standard, making it highly competitive.
- Fast execution – users can complete their orders within 2 to 10 seconds on the exchange.
- VPM – EasyBit offers a Volatility Protection Mode that makes users immune to negative market volatility.
- Security – Aside from the exchange being non-custodial, it also provides a multi-layer protection system for security.
- Great reviews – EasyBit has a flawless 4.9/5 star rating on Trustpilot.
EasyBit has developed a Volatility Protection Mode for users which makes you immune to negative market volatility when performing transactions. VPM automatically aborts the exchange and refunds the user funds when rates drop below the percentage indicated.
While the exchange provides fees of 0.2%, users are also entitled to a volume-oriented fee reward structure that can bring the fees as low as 0.1%.
EasyBit offers users 200+ cryptocurrencies to swap, including the more popular ones like BTC, ETH, SOL and many more.
Additionally, EasyBit offers fast and reliable 24/7 Customer support. Users can reach out with their complaints or issues and have them solved within an hour.
3. Changelly
Changelly is one of the longest-running crypto swap platforms, launched in 2015. Changelly offers:
- Best rates – Changelly aggregates rates across top exchanges like Binance, Bittrex, and Poloniex to provide competitive pricing.
- 150+ coins – Users can swap between over 150 different crypto assets.
- No accounts – Swap coins directly without creating a user account.
- Partnerships – Changelly is integrated with leading wallets and exchanges for easy connectivity.
On Changelly’s website or mobile apps, users can seamlessly swap between cryptocurrencies within minutes. The platform offers 24/7 customer support and an intuitive interface.
Changelly charges a flat 0.25% fee for all crypto-to-crypto conversions. While fees vary based on market conditions, Changelly consistently offers among the best rates by tapping multiple liquidity sources.
For fast, easy swaps between a vast range of digital assets, Changelly remains a top platform choice today. The company also offers premium Changelly PRO services tailored for larger scale traders and investors.
4. ChangeNOW
ChangeNOW is an instant, non-custodial crypto swap exchange launched in 2017. ChangeNOW’s key advantages include:
- No limits – Swap any amount with no maximums or restrictions in place.
- Non-custodial – ChangeNOW never holds user funds at any point.
- No signups – Get started swapping without registering accounts.
- 350+ coins – Vast selection of cryptocurrency assets supported.
ChangeNOW aggregates rates and liquidity from over a dozen integrated crypto exchanges to deliver competitive swap pricing. Users can expect most swaps to complete within 5-30 minutes.
While ChangeNOW’s fees range from 0.5% to 5% based on market conditions, they provide reliable swaps directly from wallet to wallet with no accounts or deposits required. ChangeNOW offers accessible service worldwide.
For unlimited swaps without sharing personal data, ChangeNOW ranks among the top platforms available today.
5. SimpleSwap
SimpleSwap aims to provide the smoothest possible crypto swap experience. Key aspects include:
- No limits – Swap any amount with no minimums or maximums.
- Beginner-friendly – Easy to use swap interface ideal for first-time users.
- 1,100+ coins – Support for swaps between an extensive variety of cryptocurrencies.
- Referral program – Earn up to 50% commission on users referred to SimpleSwap.
SimpleSwap offers a great starting point for beginners thanks to its intuitive interface. At the same time, the platform provides advanced features for experienced traders like integrated exchange trading and fiat purchasing options.
While SimpleSwap itself charges no trading fees, network/mining fees associated with swaps still apply. With unlimited swaps available across over 1,100 cryptocurrencies, SimpleSwap is designed for both simplicity and power.
6. StealthEX
StealthEX emphasizes quick, private crypto swaps. Key features include:
- No registration – Swap coins without providing any personal information.
- No limits – No restrictions on swap sizes, amounts, or volumes.
- 900+ coins – Huge selection of supported cryptocurrencies.
- Support – Dedicated 24/7 customer assistance via live chat or email.
StealthEX sources liquidity from leading exchanges like Binance, KuCoin, and Huobi to enable fast swap processing and competitive rates. Most swap transactions complete within just 5-10 minutes.
While StealthEX has slightly higher fees around 0.5%, they excel in providing unlimited, anonymous swaps. For privacy-focused users, StealthEX is a top choice.
7. Godex
Godex emphasizes anonymity and ease-of-use for crypto swaps. Notable features include:
- No tracking – Swaps completed without collecting any personal details.
- User-friendly – Straightforward user interface makes swapping simple.
- 200+ coins – Good selection of supported cryptocurrencies.
- Support – Responsive 24/7 customer assistance via live chat.
Godex partners directly with crypto projects and liquidity sources to offer competitive exchange rates and process swaps. Users can choose between fixed-rate and floating-rate swap options.
While Godex has higher fees around 2-5%, they charge no other hidden fees. For private swaps across many leading cryptocurrencies, Godex provides an easy-to-use solution.
Key Benefits of Crypto Swap Platforms
Based on our extensive research, here are some of the main reasons why using a dedicated crypto swap service can be advantageous versus trading through an exchange:
- Speed – Leading swap sites complete exchanges within 30 minutes in most cases, while exchange deposits and withdrawals can take 1 hour or longer.
- Convenience – There’s no need to setup accounts on multiple exchanges. Swaps are accessible directly from your wallet.
- New assets – Swap sites quickly integrate support for new, trending tokens and coins.
- Anonymity – Most swaps only require connecting your wallet, with no personal details needed in many cases.
- Global access – Anyone worldwide with internet access can utilize a swap service. There are no geographic restrictions.
- Rates – Swap aggregators source liquidity across various exchanges to consistently find the optimal rate.
- Fees – Direct swaps tend to involve lower fees compared to trading through exchange order books.
- Security – Leading swap providers implement protections around user wallets and funds throughout the swap process.
For fast, affordable, and private trading between cryptocurrencies, swap platforms offer a compelling alternative to traditional crypto exchanges in most scenarios.
Choosing the Right Crypto Swap Provider
With the growing popularity of crypto swaps, more platforms are emerging to meet demand. Here are key factors to evaluate as you choose a swap provider:
- Supported assets – Look for a platform that supports swaps between all the cryptocurrencies you currently own or plan to trade. Most leading providers support hundreds of coins.
- Swap fees – Compare the fees charged by the platform. Some aggregators offer feeless swaps by taking a spread/margin on exchange rates. Others charge up to 5% per swap.
- Speed – Look for swap times under 30 minutes in most cases. Leading platforms complete swaps in 5-15 minutes on average.
- Limits – Some platforms impose maximum limits on swap amounts. Choose a provider that offers unlimited swaps.
- Liquidity – Opt for a swap provider that sources liquidity from multiple exchanges to get you the best rates consistently.
- Security – Only use trusted, established platforms that implement protections around user wallets and funds throughout the swap process.
- Reviews – Read through independent customer reviews to gauge factors like service quality, responsiveness, and ease of use before selecting a provider.
By carefully comparing swap platforms against the criteria above, you can identify the ideal service to suit your specific trading needs and preferences.
Conclusion
Cryptocurrency swaps provide traders and investors with a fast, affordable, and private way to exchange digital assets compared to using an exchange.
Leading swap sites outlined in this guide allow you to quickly trade between hundreds of coins, straight from your wallet in most cases. Swap aggregators source liquidity across various exchanges to consistently find you the best rates.
Look for providers like Bybit Converter, Changelly, and ChangeNOW that offer extensive coin support, minimal fees, fast swap times, and strong security measures around your funds.
Start gradually by first swapping small amounts to test out the platform and ensure you are satisfied. Over time, leverage crypto swaps to rebalance your crypto portfolio and gain efficient exposure to new assets at low cost.
FAQs About Crypto Swap Platforms
What are the main advantages of using a crypto swap platform?
Crypto swaps are faster, cheaper, more private, and more convenient than using an exchange in most cases. Top advantages include no account setup, better rates, quick swaps, accessibility, and the ability to directly swap between hundreds of cryptocurrencies.
Which crypto swap platform has the lowest fees?
Bybit Converter currently offers unlimited feeless crypto swaps by only charging network transaction costs. SwapSpace and SimpleSwap don’t charge direct fees either but integrate with exchanges that impose trading fees. Changelly has a flat 0.25% fee on all conversions.
How long do crypto swaps take?
Leading crypto swap sites complete exchanges within 5-30 minutes in most cases. Swap times vary based on the liquidity provider used, blockchain congestion, and assets being swapped. Expect 5-15 minutes for most swaps.
Is it safe to use crypto swap platforms?
Leading swap providers implement security protections around user wallets and funds. As you control your coins throughout, swaps can be safer than leaving funds on an exchange. Always use trusted sites and never share wallet private keys.
Can I swap any cryptocurrencies?
You can only swap between cryptocurrencies supported by the specific swap platform. Most major providers support swaps between hundreds of coins including Bitcoin, Ethereum, stablecoins, altcoins, DeFi tokens, and more.
Do I need to create an account to use a crypto swap service?
Many top crypto swap sites don’t even require creating an account. You simply connect your wallet to their site to access swap functionality. However, some may require signup for additional features.
Do crypto swap sites have limits on how much I can swap?
Limits vary between platforms. Some impose maximum limits on swap amounts, while others like ChangeNOW and StealthEX have no limits whatsoever. Check the provider’s policies to confirm they offer unlimited swaps if needed.
Which wallet should I use with a crypto swap service?
You can use any cryptocurrency wallet that allows you to control your private keys. Popular options include MetaMask, Trust Wallet, Coinbase Wallet, Atomic Wallet, and hardware wallets like Ledger and Trezor. Be sure only you control the wallet’s private key.
Can I swap crypto without paying network fees?
No, network fees will always apply when sending transactions on a blockchain. These fees go to compensate the miners confirming the transaction. Swap platforms have no ability to remove network fees.
What happens if my swap gets stuck or delayed?
Contact the platform’s customer support team for assistance if your swap hangs or gets delayed excessively. Reputable providers will monitor the status of swaps and help resolve any issues. Make sure to use live chat or email support.
