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Instant Crypto Swap Comparison! Changelly vs. Shapeshift vs. SWFT Blockchain

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crypto swap exchanges comparison

Changelly supports over 100 cryptocurrencies, as well as USD and Euros. SWFT Blockchain, although newer to the space, has grown from 18 tokens supported in January 2018 to over 90 different cryptocurrencies as of mid-December 2018. Meanwhile, Shapeshift has a more limited offering with only 35 cryptocurrencies. While Shapeshift and SWFT Blockchain does not yet provide fiat buy-ins, Changelly delivers the ability to use USD and Euros at a surcharge. All three exchanges support top currencies like Bitcoin, Ethereum, Ripple, Stellar Lumens, Bitcoin Cash, Bitcoin SV, Dogecoin, Ethereum Classic, and more. Each exchange has a few exclusive tokens for instant swaps, like NEM on Changelly, Vechain on SWFT Blockchain, and Siacoin on Shapeshift. As a vote of confidence in stablecoins, SWFT Blockchain recently added USDC and DAI support and changed the unit of account for all the values on its platform to USDC.

Transaction Fees

Regarding transaction fees, Changelly charges 0.5% for crypto-to-crypto transactions. Shapeshift’s fees are variable flat fees calculated based on a miner fee. The fee depends on the trading pair and is worth checking individually. Shapeshift’s fee is flat. Therefore, it is not suitable for smaller transactions but better for more significant transactions. SWFT Blockchain charges a 0.05% fee per trade when users hold Swftcoin (SWFTC) in their SWFT Blockchain wallet and 0.1% for users who don’t own it.

Rates

At the time of this writing, here are the rates for exchanging 1 ETH to BTC: Will return ~0.027210 BTC, Changelly will return ~0.027236, and SWFT Blockchain will return ~0.027451. The difference between the lowest rate (Shapeshift) and the highest (SWFT Blockchain) is less than 0.1%. All three screenshots below were taken within 1 minute.

Changelly Vs. ShapeShift Vs. SWFT Blockchain

Product

Aside from UI differences and slight price variations, Changelly, Shapeshift, and SWFT Blockchain are easy to use. While Shapeshift and SWFT Blockchain let users send any currency between a range, Changelly asks the user to specify transaction amounts before finalizing the transaction. One crucial difference is that SWFT Blockchain combines its decentralized transfer feature with a ‘cross-chain’ wallet where users can trade and store their crypto assets without leaving the app. Therefore, SWFT Blockchain allows users to make instant in-wallet or decentralized swaps from one address to another. SWFT Blockchain also offers limit and round-trip orders, enabling users to select their preferred exchange rate, sit back, and wait until their desired price or profit point is reached. Although these orders will only occur once the market meets the trade order conditions, they are great tools to use in a volatile market such as cryptocurrency.

Security

In terms of security, all three exchanges are very secure. In the case of Changelly, Shapeshift, and ‘decentralized’ transfers on SWFT Blockchain, users’ funds are not at risk because they are never actually stored by the company. For example, when Shapeshift was famously hacked in three separate thefts, only its funds were stolen, while users’ funds were unaffected. Although SWFT Blockchain does store wallet users’ funds, these are protected by several layers of cold storage. The company has also partnered with top security providers to ensure users’ funds are never at risk.

FAQ

Where do I store my coins on Changelly, Shapeshift, and SWFT Blockchain?

  • SWFT Blockchain is a cross-chain wallet app. This means in addition to providing similar transfers to Changelly and Shapeshift. It also provides a wallet for the over 90 crypto assets available on the app and in-wallet swaps to exchange these in seconds. Changelly and Shapeshift are similar to SWFT Blockchain’s ‘decentralized’ transfers, where users are responsible for their destination and refund addresses.

Which one has lower fees?

  • Changelly and SWFT Blockchain will be better for smaller amounts as their fees are percentage-based. SWFT Blockchain had the lowest percentage when we did the tests. On the other hand, ShapeShift may be better in more significant amounts as it takes a flat transaction fee.

Which one is faster?

  • At the time of writing, the average transaction time over the past 24 hours is 1026.17 seconds on Changelly, 739 seconds on Shapeshift, and 32.1 seconds on SWFT Blockchain. Therefore, SWFT Blockchain is by far the fastest of the three.

Conclusion

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All three platforms provide similar services; therefore, it is difficult to determine which exchange is better. SWFT Blockchain offers trades in the same way that Shapeshift and Changelly do. In addition, it provides a wallet for all its supported currencies and in-wallet swaps, including limit and round-trip orders, making trades faster and hassle-free. Therefore, if users are looking for a complete crypto asset trading and holding platform, SWFT Blockchain may better suit their needs since it covers more bases. However, Changelly currently has the widest selection of cryptocurrencies among the three at 100+, including fiat (USD and EUR), meaning users will find a wider variety of unique trading pairs on Changelly, where they can also jump to and from fiat directly. Lastly, Shapeshift may be better for more significant transactions thanks to its variable flat fees.

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