Why Instant Exchange Services Are Better than Trading Platforms?

If you consider cryptocurrency as money investment, you might want to make it work for you by exchanging one crypto asset to another. In the crypto world, there are trading platforms, such as Binance, Bittrex, Poloniex, etc., and exchange services like Changelly. Both enable you to exchange your own, for example, Bitcoin to any other digital currency.

However, there is a big difference between these two tools.

Too Good and Too Complex

Every cryptocurrency trading platform has its own website, with an exchanging section like the one below.

The exchanging section on Binance platform

Trading platforms are used by tech-savvy people who exchange crypto on a regular basis. However, if you are inexperienced in trading you might want to use something more convenient, as it takes too long to figure out all the intricacies of the platform interface.

To open an account and start exchanging your cryptocurrency, even small amounts, on a trading platform, you need to undergo a verification procedure, which means you need to share your personal data, including your photograph, ID and so forth. Only after that, you can proceed with the exchange. It won’t also hurt to mention that trading platforms support a strict number of cryptocurrencies and trading pairs. Everything is perfect when you need to exchange Ethereum to Bitcoin. But what if you want to do NuBits to NEO? Or NEXO to Verge? These currencies are traded on different platforms, so you’re required to create accounts on several trading platforms that have these coins listed, and get verified over again. Moreover, in order to swap between cryptos listed on different trading platforms, you need to initiate at least two transactions (ABC to BTC or ETH on one platform and BTC or ETH to XYZ on another). Just decide to exchange any pair out of top-20 and you’ll end up with a lot of inconveniences. And that’s because trading platforms are a professional tool to make bids and asks and form the market. These are not easy to use unless you are a professional trader.

Instant exchange services

Exchange services are playing a role of the intermediaries between you and trading platforms, and it relieves the users from the need to undergo the complicated exchanging process. Instead, you can exchange one crypto to any other just in 5 minutes.

Why so easy?

There are several key reasons to choose the exchanging service instead of the trading platform.

1. Fast and secure transactions

Exchanging services such as Changelly can guarantee you the fastest and the most secure way to exchange your cryptocurrency. The service’s website is protected from DDoS attacks and your account’s safety is provided by a two-step authorization procedure.

2. Best exchange rates.

Changelly is connected to different trading platforms and the service chooses the best exchanging rates for you. So you never have to worry about paying draconian fees for the exchange.

3. User-friendly interface.

Another important option is the simplicity of the product. The clear and easy interface is a big plus for those who appreciate ones time and comfort. It is enough to look once at the exchanging service home page to make sure its ease of use:

Changelly home page

4. Small commission fees.

The exchange services withdraw a small fee for its service. Actually, the fee is one of the key sources of the income of exchange services. With the money received for charging this fee, the product lives and develops. Changelly’s commission is only 0.5% for each transaction made via the service.

Wallets instead of trading accounts

All you need to exchange your cryptocurrency via the Changelly service is a crypto wallet. One wallet to send your currency to the service and the other one to receive your needed currency from the service. That’s much easier and faster than creating two accounts on two different trading platforms and getting them verified.

Buying with a credit card

If you are a newbie in the cryptocurrency world, the easiest way to step into it is to buy Bitcoin with a credit card with your credit card on Changelly. All you need is your bank card and Bitcoin wallet.

Takeaways

Overall, in comparison to trading platforms, instant exchange services:

• are way easier to understand
• enable you to exchange any coin to any other coin in one place
• take a small commission fee
• don’t require personal information when registered
• provide great customer support

If you’ve been looking forward to get some crypto and exchange it, but you’re too afraid because of lack of experience, then Changelly is here for you. Today it finds to be one of the simplest, fastest and clearest tool to enter the crypto world.

If something goes wrong, don’t hesitate to chat with our support ninjas 24/7!