Cryptocurrencies have become increasingly popular over the past few years. Advancements in this ever-evolving industry have paved the path for a business revolution.
With each passing day, storing and using cryptocurrencies becomes more seamless and simpler than ever before.
It has resulted in a better user experience and remedied the problems that were once accompanied this evolving sector.
As a result, it has transformed the business landscape and experts suggest that it will eventually make banks obsolete.
The use of the latest technology has led to greater users’ satisfaction, and of course, users are all for it, which is why now more and more people want to know about cryptocurrencies.
However, to get the most out of cryptocurrencies, you have to have enough knowledge so you know where to invest and what to avoid.
In this read, you’d know about crypto swapping and the best SimpleSwap alternatives in detail.
What is Crypto Swapping?
Ever wondered how many cryptocurrencies exist? A few dozens? Maybe a hundred?
Well, to your surprise, there are over 8000 cryptocurrencies in existence. Although many of these currencies are quite obscure, some of them enjoy great popularity.
Crypto swapping refers to exchanging one cryptocurrency for another. With so many options, you may want to give another cryptocurrency a try.
The good news for you is that exchanging one cryptocurrency with another is an absolute cinch. For example, you may want to exchange Tether with Bitcoin.
With crypto swapping, you can exchange Tether with Bitcoin, or any other cryptocurrency of your interest.
But how does that happen? Where do you swap your cryptocurrencies? Well, there are plenty of companies that offer swapping services.
The Crypto industry has seen many sophisticated companies that offer cryptocurrencies exchanges with user-friendly features.
SimpleSwap is one of the most recognizable names in the exchange industry. The company was founded back in 2018 and has been on a roll since then.
It serves as a platform for users to trade and exchange their crypto assets and provides over 300 cryptocurrencies options to choose from.
SimpleSwap offers both fixed rates and floating rates and you can choose whatever you find suitable.
The service does not require you to sign up, so you can carry on with your exchange and trades right off the bat.
SimpleSwap mobile app is also available which is compatible with android and Apple phones.
The best thing about SimpleSwap is that it offers affiliate and loyalty programs to benefit the users. With every exchange made on SimpleSwap, you receive a cashback in Bitcoin.
This has helped the company garner customers’ loyalty. Of course, who doesn’t love getting cashbacks?
The service is also quite seamless and funds are deposited in a matter of a few seconds.
Best SimpleSwap Alternatives in 2022
If you don’t like SimpleSwap, the good news for you is that there are plenty of other options available that you may want to explore.
There are a lot of widely used SimpleSwap alternatives in 2022 that you might want to have a look at.
With tons of innovative features, Pionex is the leadoff hitter on our list. Established in 2019, it’s a platform that specializes in crypto exchanges smoothly, thanks to its built-in bots.
Unlike other services where you have to connect a trading bot, Pionex features 16 built-in bots for your convenience.
With over $30 million daily volume, Pionex is one of the most widely used swapping services in the world.
Pionex is licensed by the US FinCen’s MSB (Money Services Business), which is the same license that other leading companies have.
This testifies that the company is qualified to offer exchange services. As a matter of fact, it’s the first licensed exchange company with built-in trading bots.
As far as the fees are concerned, you’d be glad to know that Pionex has kept the fee reasonable. It doesn’t have any monthly subscription and other charges have also been kept low.
The thing that sets Pionex apart from the rest is its built-in trading bots.
As mentioned earlier, Pionex has 16 of them, such as Grid Training bot, Reverse Grid bot, Margin Grid bot, and Smart Trade bot, which help you in one way or another.
This streamlines the transactions big time by eliminating the chance of human errors and delays.
Pionex also has a mobile app to make exchanges convenient for mobile users. The interface has been designed meticulously and you can use the app on both iOS and Android.
Quick exchanges, low fees, and trading bots make Pionex the best SimpleSwap alternative.
Moving on to the second SimpleSwap alternative of our list, we have eToro. Established in 2007, eToro is one of the pioneers of the swapping industry.
Today, the company has over 25 million users worldwide who make millions of transactions every day.
One of the major reasons why people love eToro is that its fees are surprisingly low.
Opening and closing a trade at eToro costs nothing, which is why users love trading on this platform.
For newbies wanting to start small, eToro is as good as anything. It allows you to invest from as little as $10 so newbies don’t have to put their life savings at stake.
Another key feature of eToro is that it allows you to copy other traders who want to be copied.
This is particularly helpful for beginners as they’d get to analyze others’ strategies. However, be mindful that copying others doesn’t guarantee either gains or losses.
Another reason why beginners love eToro is that it offers an education service known as “eToro academy”.
With the help of dozens of free articles and tutorial videos, eToro teaches newbies the ins and outs of the field. This has helped millions of beginners ace crypto trading.
With so many cool features for newbies, it’s no wonder that eToro is the best SimpleSwap alternative for beginners.
One key glaring issue with eToro is that it only supports 15 cryptocurrencies. This doesn’t bother most users as most other cryptocurrencies have little to no following.
However, this may offend those users who are looking to explore new currencies.
While talking about the best swapping services, you can’t just leave Uphold behind.
With plenty of ground-breaking features, it is another great SimpleSwap alternative that enables users to trade their assets.
The company came into being in 2013 and offers its services in over 180 countries. It has an intuitive site like SimpleSwap, which is quite easy to operate even for non-techies.
Uphold gives you more than enough options in terms of currencies. You get over 70 currency options, as well as other assets to trade at Uphold.
From Bitcoin to Litecoin, you can buy, sell, and trade in 70 currencies on Uphold.
Apart from buying cryptocurrencies, you can also buy U.S. equities and valuable metals at Uphold.
It also offers a cashback debit card that enables you to pay using the assets you have on the platform.
For instance, you have the option to make payments with crypto or fiat currency at Uphold. All these features make Uphold a great SimpleSwap alternative.
Things are a bit complicated when it comes to fees at Uphold. Uphold doesn’t charge any commission, but its spread fees can leave you scratching your head.
It’s also seen that the spread fees are a bit higher than other exchanges. There are different spread fees for different trades, and these fees can double up in times of market volatility.
As for customer service, Uphold doesn’t enjoy a great reputation.
The company is yet to introduce a live chat feature and users have to fill out a form on its website to get their issues resolved.
However, that doesn’t make Uphold any less capable. Uphold is a great option for those wanting to invest in different assets under one platform.
Without an iota of doubt, Binance is one of the largest crypto exchange companies on the planet. The company’s name comes from two words, i.e. “Binary” and “Finance”.
With billions of trading volume, Binance is one of the most respected names in the cryptocurrency sphere.
The company claims the ability to process over one million orders per second, which speaks volumes of its capabilities.
The thing that makes Binance stand tall among its competitors is that it supports over 500 cryptocurrencies, which makes it a go-to option for those looking to invest in relatively obscure currencies.
Whether you want to sell your cryptocurrencies, buy a new one, or trade your assets, you can do it all on Binance. This makes Binance one of the best, if not the best SimpleSwap alternative.
This wide range of cryptocurrencies means that Binance appeals to a larger audience, and it’s a major part of the reason why Binance is one of the top-ranked exchange platforms in the world.
Binance has a user-friendly site like Simpleswap, which is designed for both novices and advanced investors.
It has come up with a great solution to cater to the needs of both types of users. It offers two separate platforms with excellent charting and other factors to optimize the trading.
So if you are just getting started with cryptocurrency and are not sure of what to do, Binance’s dedicated platform for newbies may just hit the nail on the head for you.
Coinbase is one of the most sought-after cryptocurrency exchange platforms. The company joined this business in 2012 and it has been on a crest of a wave ever since.
Back then, its services were limited to Bitcoin only. It found immediate success and it was only a matter of time before it expanded its wings and supported other currencies as well.
With over 73 million users, Coinbase is a fairly large exchange company. What makes Coinbase a great SimpleSwap alternative is its user-friendly interface.
Operating its site like Simpleswap is an absolute piece of cake and anyone with basic computer knowledge won’t find it difficult to operate.
Like other exchange platforms on our list, Coinbase also has its mobile app, which enables mobile users to trade and exchange seamlessly.
Coinbase runs two different platforms i.e. Coinbase and Coinbase pro. For simple orders like buying and selling, Coinbase works just fine.
Beginners can perform all basic operations at Coinbase. However, if you are an expert investor looking to level up your trading game, know that Coinbase pro is exclusively designed for that.
It boasts plenty of robust features and also offers more trade types. Transaction fees are also lower with Coinbase pro.
The services are well-tailored to meet the needs of both entry-level and expert crypto investors. It makes buying, selling, and trading in cryptocurrencies as easy as your shopping trip.
You can trade in over 100 cryptocurrencies on Coinbase, including Uniswap, Dogecoin, Polygon, etc.
However, altcoins options are somewhat missing and you may need to look elsewhere if you are looking for a platform for altcoins.
Webull is one of the fastest-growing exchange platforms in the world. The company has been around for quite some time now, and for good reasons.
It’s a popular SimpleSwap alternative and has helped millions of investors around the world and is a great option for veterans and rookies alike.
An area where Webull outshines every other exchange platform is cost. With services costing next to nothing, Webull certainly ranks among the best when it comes to costs.
For beginners who have just dipped their toes in the crypto industry, Webull is the best of both worlds.
Webull brings the latest technology to the table to float your boat.
With its site like Simpleswap, it gives you a deeper insight into crypto trading, thanks to its exceptional charting, customization, and other technical indicators.
These indicators will help you make informed decisions about your investments. These advanced indicators make it an excellent Simpleswap alternative.
In terms of security, Webull is as good as anything. It uses top-of-the-line security practices to ensure the safety of your assets.
However, be mindful that investments in cryptocurrencies always involve some risk. Webull falls short when it comes to cryptocurrency options.
It supports 11 cryptocurrencies only, which may work for beginners, but could be a potential deal-breaker for professional crypto investors.