Crypto exchanges are a standard method of trading cryptocurrencies that everyone knows, these exchanges help users to trade assets remotely with a verified account with added trader-oriented features and support fiat currency too.
Platforms like Binance, Coinbase, etc are some of the popularly used exchange platforms and there are many others. Using an exchange platform comes with its challenges like charging higher fees for large trading volumes, limitations on trading volume and KYC, and so traders must know that there is an Ideal solution to overcome these.
It’s called Crypto Swapping, very similar to crypto exchange, but a crypto swap service exchanges your crypto for crypto with no signup and KYC. In this article, the advantages of crypto swap services over crypto exchange are discussed.
Crypto Exchange Vs Crypto Swap
Crypto exchanges and crypto swap services have their advantages and disadvantages for their users. The major differences between these two are differentiated below,
| Crypto Exchange | Crypto Swap |
| There is a limitation on trading volume, market orders, etc… | No limitation on trading volume, market orders, etc… |
| Lower speed for high-volume trades. | Higher speed even for high-volume trades. |
| The fee for the trade grows as per the volume of trading. | The fee for the trade is low even for high-volume trades. |
| If you need to process high-volume trade, you need to process KYC first. | Swap services don’t require any personal information whenever you exchange 50 USDT or 1M USDT. |
| Exchanges have cashback and other benefits. | Many swap services also provide these benefits. |
| Difficult to use, especially if the trader is new in the crypto market. | User-friendly, even bidding traders can use it effortlessly. |
Advantages of Crypto Swap Services
Crypto swap services are more beneficial than crypto exchanges because of high-volume trade accessibility, transaction speed, exchanges with no KYC and sign-up. Some of their advantages are discussed below,
- User Friendliness: Users merely need to choose their preferred currencies, specify their desired swapping rate, and supply the target wallet’s address in order to start crypto swapping. Users may complete transactions easily and swiftly thanks to this convenience, which is especially useful when working with large quantities of money.
- Privacy and Security: When conducting safe and anonymous swapping operations, users may feel more confident and at ease by using an authorized and trustworthy platform, like CoinCraddle. Swapping services guarantee the protection of users’ funds during the whole swap procedure by following to tight security measures and utilizing cutting-edge industry practices.
- Transaction Speed even for huge volume trades: The transaction speed is another factor that has to be considered while undergoing crypto transactions. In contrast to traditional exchanges, which may need time for order matching and transaction confirmations, cryptocurrency swap services may complete transactions almost immediately. When it comes to dealing with large quantities, this promptness is especially helpful since it enables consumers to get their preferred currency without holding up the process or experiencing unanticipated market changes.
For people looking for hassle-free and reputable cryptocurrency swap platforms, CoinCraddle stands out as a trustworthy alternative because of its established reputation and dedication to addressing client demands.
Conclusion
Crypto swap services are the go-to option for people looking for rapid, safe cryptocurrency exchanges due to their ability to complete transactions swiftly, cheap fees, competitive exchange rates, user-friendly interfaces, anonymity and strong security measures.
Source: https://coinpedia.org/guest-post/advantages-of-using-crypto-swap-services-over-traditional-crypto-exchanges/