As cryptocurrencies grow in popularity, the demand for crypto exchangers increases. These services allow you to sell or buy cryptocurrency for fiat money.
To protect yourself from scammers and not to fall for a pseudo-exchanger, it is important to be able to understand what are reliable exchange services, and by what criteria to choose them.
What is a Cryptocurrency Exchanger
Cryptocurrency exchangers are services that allow you to quickly and safely exchange cryptocurrency for fiat money and vice versa both online and offline.
Exchangers, unlike exchanges, do not involve a bidding procedure, and also do not provide the possibility of storing cryptocurrency. Thus, after the exchange, the user receives money immediately either to a cryptocurrency wallet, or to an electronic wallet or bank card.
What Kinds of Exchangers Are There
All crypto exchangers can be divided into the following types:
- Online. The exchange of cryptocurrency in these services is carried out centrally. According to the principle of work, they are similar to banks, which operate their own reserves. Such platforms are convenient and user-friendly, but they often offer not the most favorable rate. To exchange cryptocurrency for fiat money, you need to select the available digital currency, specify the required amount of funds and bank details to receive the money. The procedure usually takes a few minutes.
- Offline. Many services provide offline exchange, in which the user most often needs to leave an application on the website of the service in advance, specifying contact information. Then the whole process takes place when visiting the company's office. Offline exchangers exist in most cities. Also, a large number of p2p-arbitrage entrepreneurs have recently engaged in this type of exchange.
- P2P platforms. These services offer the opportunity for holders of cryptocurrencies to directly exchange them for fiat and vice versa. Before making a transaction, it is better to look at the seller's statistics, read reviews to understand whether they can be trusted. More about how to profitably sell and buy cryptocurrency on P2P-exchanger read in the article.
In addition to the above, Telegram bots are gaining popularity.
How to Choose a Cryptocurrency Exchanger?
When choosing a cryptocurrency exchanger, it is important to pay attention to the following aspects:
- the offered rate;
- reputation of the service;
- speed of transactions;
- professionalism of the support team.
Beware of highly inflated and undervalued rates. No exchanger will work at a loss.
It is best to learn about the reputation of the service from reviews on websites-aggregators. Keep in mind that all opinions are subjective. In addition, the owners of some services ask their employees to leave complimentary reviews about the exchanger. Also, bots are sometimes used for this purpose.
Negative reviews can come from customers who have not scrutinized the terms of the transaction carefully enough. Nevertheless, the information from reviews can be taken into account, but you should not rely on it as a primary factor in choosing an exchanger.
It is impossible to check the speed of transactions in advance. Only through personal experience can you understand how quickly applications are processed.
To assess the professionalism of the support service, try asking a few questions before making a transaction. Support of popular exchangers is available mostly 24/7 through several communication channels: chat on the website, phone, messengers, e-mail.
Popular Cryptocurrency Exchangers
Below is a popular list of cryptocurrency exchanges. Some services when creating an account will ask you to specify only those personal data that are needed directly for financial transactions: name, e-mail and password. Nevertheless, before registering, we advise you to familiarize yourself with all the terms and conditions of the exchangers.
CryptoCloud
CryptoCloud is a convenient crypto exchange with a built-in trading algorithm that constantly monitors the market and offers users the most favorable rates. No registration and KYC procedures are required to use the service.
Among the advantages of the platform can also be highlighted:
- A wide selection of currencies: CryptoCloud offers more than 1,500 cryptocurrency pairs;
- Variety of offers: users can choose the most suitable operator for them;
- Security: CryptoCloud cooperates only with reliable partners.
Exolix
Operating since 2018, Exolix offers users the opportunity to make instant and safe exchanges of one cryptocurrency for another without going through KYC and registration procedures, as the platform strives to provide the highest level of security and reliability of its services.
Exolix specializes in automatic 24/7 transaction processing and provides the best exchange rates on the market without charging hidden and additional fees. The service also gives you the right to choose fixed or floating exchange rates.
Exolix supports over 500 cryptocurrencies: from classic coins such as Bitcoin and Ethereum, to privacy-oriented assets such as Monero and Firo, and popular meme tokens such as Dogecoin and Pepe.
The service's qualified support team is available 24/7 and is always ready for user questions via e-mail or online chat on the website.
Prostocash
This service opened in 2017. Customers appreciate it for a voluminous reserve of about $1 million, a variety of exchange directions, competent support and high speed of transactions. It accepts and issues over 50 cryptocurrencies, including Bitcoin, Dash, Zcash, Litecoin, Ethereum, Dogecoin, Ravencoin, Terra and others.
It usually takes 5 to 15 minutes to complete a single financial transaction. If the available reserve of the currency you are interested in is insufficient, it can be increased upon request.
Prostocash belongs to the category of semi-automatic exchangers and works around the clock.
Kassa
In order to appreciate all the advantages of this service, you will need to register on the website and then activate your account.
Kassa is open 24/7 with two daily technical breaks. Support is available from 7:00 to 23:00 (GMT+3).
The exchange rate already includes a commission, the amount of which can be seen at the application stage.
60cek.org.
This automatic exchanger has been operating since 2016, is an official partner of Advcash and Perfect Money. The service is available around the clock, but is sometimes closed for short-term technical breaks. Support service works 24/7 via e-mail or chat.
After registration, you will be eligible for a 0.05% discount. Once the total number of transactions reaches $40,000, you will be given a maximum discount of 0.2%. One currency transaction also takes no more than 15 minutes to complete.
24PayBank
This service has been around since 2015. It conducts transactions with all popular cryptocurrencies. This exchanger is compatible with both electronic payment systems and bank cards. New customers are given a standard discount of 0.05%. When the volume of your transactions exceeds $10,000, the discount will reach the maximum value of 0.12%.
365cash
365cash operates starting from 2015 and performs transactions with 9 most common cryptocurrencies. Registration on the website is not required, but it is necessary to participate in the cumulative discount program.
Accept Crypto and Exchange It
Recently, more and more companies provide their customers with the opportunity to pay for goods and services using cryptocurrency. To connect such an opportunity, you can go to crypto processing services, such as CryptoCloud.
After accepting payments, for example, in USDT, you can exchange cryptocurrencies directly on the website.
Withdrawals are made within minutes and the minimum commission is 0.4%. CryptoCloud encrypts user data and provides reliable protection from DDoS attacks, and a competent support team is ready to help 24/7.
What Is the Best Way to Exchange Cryptocurrency?
If you use cryptocurrency, it is important to learn how to exchange it to fiat and vice versa. The easiest way to do this is through exchangers. When choosing a service, you should pay attention to its reputation, the conditions of transactions, customer feedback and professionalism of technical support.
