Best Crypto Swap Sites in November 2024
One of the easiest ways to trade cryptocurrencies is through swapping tools. You can trade two different cryptocurrencies without using an exchange. This leads to increased convenience and speed.
Swapping tools are also ideal for cross-chain swaps, especially those with limited liquidity and volume. In this guide, we rank and review the best crypto swap sites. Our reviews cover everything traders need to know, including fees, available pairs, user-friendliness, security, and more.
Top Crypto Swap Sites Listed for 2024
We’ve ranked the best crypto swap sites on the list below, with a summary of their unique selling points:
- Exodus – Swap Cryptocurrencies Directly From a Non-Custodial Wallet
- Margex – Top Perpetual Futures Platform With Free and Instant Swaps
- MEXC – Swap Cryptos Easily Within a Comprehensive Trading Platform
- OKX – Get the Best Market Prices via Partnered Liquidity Providers
- Bybit – Slippage-Free Token Swaps Directly From the Charting Screen
- Binance – Create Recurring Crypto Swaps to Leverage the DCA Strategy
- Changelly – A Great Option for Non-Custodial Swaps With Automated Settlement
- ChangeNOW – User-Friendly Swap Tool With a $2 Minimum Trade Size
- KuCoin – Deploy Limit Orders and Swap Coins at Your Desired Exchange Rate
- Nexo – Popular DeFi Platform Offering Crypto Swaps, Loans, and Earning APYs
- Kraken – A Regulated and Established Exchange With Lightning-Fast Swaps
- Coinbase – Instantly Convert Fiat Currencies to and From Crypto Assets
- ChangeHero – Swap Over 250 Cryptocurrencies With a 2-Minute Average Time Frame
Evaluating the Best Crypto Swap Platforms for Traders
We’ll now explain everything you need to know about the top crypto swap platforms. Read on to select the best option for your requirements, whether that’s the cheapest fees or the fastest swap times.
1. Exodus – Swap Cryptocurrencies Directly From a Non-Custodial Wallet
One of the best options is Exodus, an established crypto wallet supporting more than 50 blockchain networks, not to mention thousands of cryptocurrencies, including Bitcoin, Ethereum, and Solana. Exodus is a great option for short-term traders and long-term investors alike. It allows users to swap cryptocurrencies without leaving the wallet app.
What’s more, the newly purchased cryptocurrencies will automatically be transferred to your Exodus balance. This means there’s no requirement to use third-party exchanges. We also like that Exodus swaps are non-custodial, just like its wallet solutions. This ensures cryptocurrencies are securely transferred without going through centralized third parties.
Exodus is completely free to use, and it supports desktops, mobiles, and browser extensions. There are no fees to swap cryptocurrencies, but there will be a market spread. This is determined by liquidity providers and is built into the exchange rate. You can accept or reject the exchange rate when setting up the order.
Pros
- Swap cryptocurrencies without leaving the wallet interface
- Offers non-custodial storage and a great user experience
- Thousands of cryptocurrencies are supported
- Compatible with browsers, desktops, and mobiles
- Completely free to use
Cons
- Limited security features when compared to hardware wallets
2. Margex – Top Perpetual Futures Platform With Free and Instant Swaps
Margex is another option to consider when swapping cryptocurrencies. This is a perpetual futures platform that supports dozens of crypto pairs. Traders can go long or short and apply leverage of up to 100x. Trading fees are super low, with Margex charging just 0.06% on market orders and 0.019% on limit orders.
However, these fees are removed entirely when using Margex’s swap tool. Put otherwise, you can swap cryptocurrencies without paying commissions. The only drawback is that Margex’s swapping tool supports just nine cryptocurrencies. This includes Bitcoin, Solana, Ethereum, Litecoin, TRON, XRP, USDC, USDT, and Polygon.
The minimum conversion requirement is between 1 and 10 USDT, depending on which coins are being swapped. We found that Margex is also a good option for swapping cryptocurrencies anonymously. Users can open an account instantly with just an email address and password. What’s more, Margex offers a great customer support experience via live chat.
Pros
- One of the best perpetual futures platforms in the market
- Traders can access leverage of 100x
- Swap cryptocurrencies without paying commissions
- Minimum swap sizes start from 1 USDT
- Top-notch customer support via live chat
Cons
- Isn’t regulated by any notable bodies
- Doesn’t allow US traders to open an account
3. MEXC – Swap Cryptos Easily Within a Comprehensive Trading Platform
Another platform to consider is MEXC, which integrates a user-friendly swapping tool into its broader crypto exchange ecosystem. It lets people swap crypto without having to deal with complicated trading platforms. This tool is especially helpful for people new to trading or wanting to make trades quickly. It offers a streamlined process within MEXC’s website that includes trading stocks, futures, and ETFs.One great thing about MEXC’s swapping tool is that it works with over 2,000 cryptos. This gives users a lot of choices for both popular tokens and altcoins. Swapping is quite easy: users just pick the asset they want to trade, enter the amount they want to pay, and complete the transaction. MEXC ensures everything is clear by showing the exchange rates before a trade is confirmed. The tool can be accessed through MEXC’s website and mobile apps, so it can be used on various devices.
Pros
- Supports over 2,000 cryptos for swapping
- User-friendly interface ideal for beginners
- Transparent pricing displayed before trade confirmation
- Part of a broader ecosystem including spot trading, futures, and ETFs
Cons
- Requires creating an account on MEXC’s centralized platform
4. OKX – Get the Best Market Prices via Partnered Liquidity Providers
OKX is a popular crypto exchange that offers some of the lowest trading fees in the industry. The maximum trading commission is 0.1% per side. However, like many exchanges, OKX offers discounts when traders meet 30-day milestones. That said, OKX’s crypto swapping tool removes all trading commissions.
It obtains the best available price from liquidity partners. What’s more, traders can avoid slippage charges, meaning you only pay the exchange rate that is displayed when creating the order. We found that OKX’s swapping tool supports a huge range of cryptocurrencies. Popular options include Bitcoin, Ethereum, USDT, Polygon, Cardano, and Dogecoin.
Traders will also find TRON, Polkadot, XRP, Fantom, and Decentraland. To get started with OKX, you will need to open an account and make a deposit from a private crypto wallet. Deposits are credited almost instantly, although this will depend on the crypto. Additional features at OKX include staking, spot trading, perpetual futures, and decentralized loans.
Pros
- One of the best crypto exchanges globally
- Sources the best available price from partnered liquidity providers
- No trading fees are charged when swapping tokens
- Avoid unfavorable slippage
- Accounts take seconds to open
Cons
- Doesn’t accept traders from the US
- Some features are aimed at advanced users
5. Bybit – Slippage-Free Token Swaps Directly From the Charting Screen
The next crypto swapping site to consider is Bybit, a tier-one cryptocurrency exchange that offers spot trading and derivatives. Bybit also offers crypto swaps without slippage risks. The sourced exchange rate will be displayed when you complete the swap form, meaning the final exchange rate will never exceed this price.
What’s more, Bybit doesn’t charge trading commissions when using its swapping tool. There are thousands of cryptocurrencies to choose from, and swaps are executed almost instantly. Another benefit is that Bybit swaps start from just 1 USDT. The maximum swap size is 99,999 USDT, meaning small and large-scale traders are welcome.
Although beginners might prefer the standard swapping tool, it can also be accessed without leaving the charting screen. This is ideal for active traders who need a specific coin to enter the market. For example, suppose the trader currently holds Bitcoin, but they need USDT to enter a leveraged perpetual trade. Within the charting area, the trader can instantly swap Bitcoin for USDT.
Pros
- Allows traders to swap cryptocurrencies without leaving the charting screen
- Offers slippage protection with transparent pricing
- Doesn’t charge commissions when swapping cryptocurrencies
- Also supports spot trading and perpetual futures
- Accounts can be opened without KYC
Cons
- High leverage products won’t be suitable for beginners
- Isn’t regulated by any licensing bodies
6. Binance – Create Recurring Crypto Swaps to Leverage the DCA Strategy
Binance offers a huge ecosystem of crypto trading products. This includes hundreds of spot trading markets, not to mention perpetual futures, options, and leveraged tokens. The centralized crypto exchange also offers earning tools with competitive APYs, including staking and liquidity farming. This is in addition to Binance’s crypto swap tool.
This comes with an innovative recurring swap option, allowing users to adopt the dollar-cost averaging strategy (DCA). For example, suppose you’re currently holding 1,000 USDT. You want to exchange USDT for Basic Attention Token. However, to avoid short-term volatility, you decide to swap 200 USDT daily for the next 5 days.
This averages the swap cost basis, ensuring you avoid buying the peak. Other DCA frequencies include hourly, weekly, bi-weekly, and monthly. Binance’s swap tool also supports limit orders. This means you can specify the exchange rate; the swap will be completed if that price is triggered. Crypto swaps at Binance are fee-free and all supported pairs are available.
Pros
- Leverage the DCA strategy when swapping cryptocurrencies
- DCA frequencies range from hourly to monthly
- Users can also swap cryptocurrencies via limit orders
- The swapping tool is compatible with all supported pairs
- Other products include spot trading, derivatives, and earning tools
Cons
- Some Binance markets are banned in certain countries
- KYC is now mandatory
7. Changelly – A Great Option for Non-Custodial Swaps With Automated Settlement
Founded in 2015, Changelly is one of the best crypto swap sites for non-custodial transactions. No account or KYC documents are needed. Users can swap over 500 cryptocurrencies, ranging from Bitcoin, Solana, and Monero to XRP, Ethereum, and Chainlink. Changelly creates a unique wallet address for the payment coin.
For instance, suppose you’re swapping XRP for Dogecoin. You’d transfer XRP to the address provided by Changelly. You’d also need to provide your Dogecoin wallet address. Once the XRP has been transferred, the Dogecoin will automatically be transferred to your wallet. This results in a convenient and secure transaction.
Changelly charges a swap commission of 0.25%, based on the trade size. This means you’ll pay just $2.50 for every $1,000 traded. What’s more, Changelly has partnered with over 20 liquidity providers. This ensures you get the best exchange rate for the chosen pair. Changelly is accessible on web browsers and a native iOS/Android app.
Pros
- A popular option for those seeking non-custodial swaps
- No account opening or KYC procedures
- Swap more than 500 popular cryptocurrencies
- Prices are obtained from over 20 liquidity providers
- Has built a solid reputation since launching in 2015
Cons
- Swap times can take up to 40 minutes
- Exchange rates aren’t as competitive over the weekend
8. ChangeNOW – User-Friendly Swap Tool With a $2 Minimum Trade Size
ChangeNOW is one of the best crypto swap sites for beginners. Especially casual traders who want to swap small amounts. It has a minimum trade requirement of just $2. That said, ChangeNOW is also suitable for large-scale traders – no swap limits are in place. ChangeNOW – which offers non-custodial swaps – ensures a speedy conversion process.
First, users must select which coins they want to swap, alongside the trade quantity. Next, users transfer the payment coin to ChangeNow’s wallet address. The receiving coin will then be transferred directly to your wallet. The average swap time frame is just 5 minutes. Another benefit is that ChangeNow supports over 50,000 swap pairs.
This includes everything from XRP/USDC and BNB/USDT to KAS/TON and TRX/ETH. Swap rates are displayed when creating the order and are built into the exchange rate. Like other non-custodial platforms, ChangeNow sources prices from partnered liquidity providers. Although ChangeNOW accounts can be opened, this isn’t mandatory.
Pros
- Swap cryptocurrencies from just $2
- No upper limits – meaning large swaps are supported
- Over 50,000 swap pairs are available
- No requirements to open an account
- An average swap time frame of 5 minutes
Cons
- Prices are only displayed when creating the swap order
- Some products can trigger KYC requirements
What Is Crypto Swapping?
Crypto swapping enables people to swap one digital asset for another.
- A simple example is swapping Ethereum for Dogecoin or Bitcoin for XRP.
- Crypto swapping is different from trading on exchanges.
- You simply need to choose which crypto you want to swap, meaning there’s no requirement to set up market or limit orders.
- You can also avoid complicated charting areas, constant price fluctuations, and market depth.
These factors, while important to experienced traders, can be overwhelming for beginners. This is why crypto swapping sites are ideal for investors with limited trading experience. They’re also popular for the added convenience and speed available.
It often takes seconds to swap cryptocurrencies, and everything is conducted on a single screen. Crypto swaps also streamline conversions from different network standards. This is particularly useful with cryptocurrencies outside of the top 10 for market capitalization.
- For example, exchanges typically offer major crypto cross pairs like ETH/BTC and BNB/ETH.
- However, suppose you want to trade smaller-cap cryptocurrencies like MANA/UNI.
- A swapping tool could convert these cryptocurrencies instantly.
- Using a traditional exchange would complicate the process; you would need to swap MANA for a major stablecoin like USDT or USDC, and then swap that stablecoin for UNI.
- Not only would this take longer, but you would pay two separate trading commissions.
In addition, you might also need to use multiple exchanges depending on how much liquidity there is in the market. However, crypto swapping tools also come with drawbacks, especially regarding transaction fees.
Although many providers claim to offer fee-free swaps, you must consider the spread. This is the difference between the actual market price and the exchange rate you’re quoted when creating the swap order. Expect to pay around 1% above the spot trading price when using swapping tools.
How do Crypto Swaps Compare With Traditional Spot Trading?
Investors should consider their experience and trading goals when choosing between crypto swap tools and traditional exchanges. If you’re a complete beginner with limited experience, swap tools can be a great option. You can completely avoid pricing charts, technical indicators, and market/limit orders.
Just type in the crypto you want to swap and the crypto you want to receive. The swap will be executed on your behalf and deposited directly in your wallet balance. Conventional trading, on the other hand, relies on order books. This is similar to other financial marketplaces like stock and ETF trading.
For example, limit orders allow buyers and sellers to set the price at which they want to enter or exit the market. Those orders are only executed when buyers and sellers are matched at the respective price. Alternatively, exchanges also support market orders, meaning the buy or sell order will be matched almost instantly at the next best available price.
However, this can be risky, especially when there’s limited liquidity. Conversely, the best crypto swap sites reveal the exchange rate once you’ve filled out the order form, and this will be locked in for a certain period, such as 5 minutes. This gives you enough time to confirm the order and deposit the respective coins.
How do Crypto Swap-Only Sites Compare With Conventional Exchanges?
Traders have several options when swapping cryptocurrencies online. Some platforms specialize in crypto swaps, meaning they don’t offer spot trading exchanges. These are primarily aimed at beginners who aren’t comfortable with charting tools and other analysis features.
They’re also aimed at traders who prioritize privacy and anonymity. This is because swap-only sites don’t ask traders to open an account, provide personal information, or upload any KYC documents. This is within the realms of regulatory frameworks, as only cryptocurrencies are being traded. Put otherwise, fiat currencies like USD and EUR are not being swapped.
There are two common ways for swap-only sites to facilitate conversions. First, some generate a unique wallet address. The trader will deposit the payment coin to that address and wait for the respective number of confirmations. That coin will instantly be swapped for the coin the trader wants to receive, and it’s immediately transferred to their private wallet address.
The other way is for traders to connect a self-custody wallet to the swap site. This is a faster and more convenient way to swap cryptocurrencies, but do ensure the chosen site is reputable. Some traders aren’t comfortable connecting wallets to third parties, so this is something you’ll need to consider.
So how do crypto exchanges do things differently? For a start, the leading crypto exchanges have implemented ID verification procedures, meaning most users are asked for personal information and government-issued ID. This won’t be suitable for many traders who prefer to remain anonymous.
In addition, crypto exchanges often only accept users from certain countries. In many cases, this excludes US clients. Exchanges also rely on the order book system, so you’ll be trading with other market participants. This means buyers need sellers and vice versa. This isn’t the case when using crypto swap tools, as external liquidity pools are leveraged.
Tips on Selecting the Right Crypto Swapping Site
Traders can choose between swap-only sites and traditional exchanges with in-built conversion tools. We’ve created a checklist that will help you choose the option for your requirements.
Check out the key takeaways below.
- Swap Process: First, consider which crypto swapping process you’re more comfortable with. If you’re using a traditional exchange, you’ll need to manually deposit funds from a crypto wallet. Once the funds arrive, you can immediately swap coins. The other option is to use a crypto swap site that supports wallet connections. Here, you’ll connect a wallet and the coins will automatically be exchanged. The new coins will be redeposited into your wallet.
- Fees and Spreads: Consider how much the chosen platform charges to swap cryptocurrencies. This could include commissions, which are percentage fees charged against the total trade amount. It can also include market spreads, where a markup is added to the real-time spot price. Also consider slippage, which means you could pay more than you had initially anticipated.
- Available Coins: The best crypto swapping platforms support a large number of coins from different blockchain ecosystems. This should include popular coins like Bitcoin, Dogecoin, Shiba Inu, Ethereum, and BNB. You might also be interested in secondary tokens that operate on certain networks. For example, the best Base meme coins or those operating on Solana.
- Swap Limits: You should also ensure that minimum and maximum swap sizes are suitable for your requirements. For example, if you’re a casual trader, you likely don’t want to swap thousands of dollars worth of cryptocurrencies. Conversely, if you’re a large-scale trader, you likely don’t want to be capped at $500.
- Security and Trust: The most important factor is that you’re using trusted swap exchanges. Only use reputable platforms with a longstanding track record for robust security. Avoid new platforms with limited reviews in the public domain. We’d also advise exploring key security features, such as two-factor authentication and whitelisted wallet addresses.
- Mobile Compatibility: Many traders like swapping cryptocurrencies on a smartphone. This adds even more convenience to the conversion process. The top providers offer a native mobile app for iOS and Android, with a solid user experience that’s suitable for smaller devices. This enables traders to swap cryptocurrencies on the move, no matter where they are.
Can You Make Money from Crypto Swaps?
The crypto swap process itself doesn’t enable traders to make money. Whether or not you generate profits depends on which cryptocurrencies you’re swapping. After all, you’re merely exchanging one digital asset for another, ideally at the best available price.
Nonetheless, seasoned traders will often use swap tools to immediately purchase a coin they believe will increase in value. For example, you could be holding Ethereum, but you want to invest in SushiSwap. You can achieve a first-mover advantage by using a swapping tool, as you won’t need to use order books or execute multiple trades.
Maximizing Earnings With Crypto Swaps
Another angle to consider is earning tools like staking and liquidity farming. These tools allow investors to earn passive income on idle crypto investments. That said, opportunities come and go, meaning investors often need to swap coins to target the best interest rates.
- For example, you’re currently staking Cardano at an APY of 6.5%.
- Although this offers a good return, you’ve noticed that BNB can be staked at 11%.
- You could immediately unstake Cardano, convert it to BNB via a swapping tool, and instantly stake that BNB to increase your crypto earnings.
ICO investors also use swapping tools. For instance, suppose a trending ICO accepts USDT as a payment method. However, you’re currently holding Bitcoin. You could instantly swap Bitcoin for USDT and invest that USDT into the ICO.
Once again, this highlights the convenience that swapping tools offer. However, remember to consider the added fees that crypto swaps invite. This can reduce the return on investment, especially if the swap site charges unfavorable spreads.
Swapping Cryptocurrencies: Step-by-Step Walkthrough
Ready to swap cryptocurrencies without using an exchange? Read on, we’ll now explain the process with Exodus – a non-custodial wallet with an in-built swapping tool.
Step 1: Download Exodus
First, visit the Exodus website and download a free crypto wallet. You can choose from a mobile app (Android, iOS), desktop software (Windows, Linux, Mac), or browser extension (Chrome, Brave).
Create a new wallet and choose a strong password. Write down the 12-word backup phrase, which is needed if you lose access to the wallet.
Step 2: Transfer Crypto to Exodus
Next, transfer crypto to Exodus. Click on the coin you want to deposit and copy the wallet address. Provide the address when transferring the coins (e.g. from an exchange).
Alternatively, you can instantly buy crypto without leaving the Exodus wallet interface. Exodus uses third-party fiat providers; accepted payment types include Visa, MasterCard, and e-wallets.
Step 3: Swap Crypto
Now click on the ‘Swap’ button. Choose which cryptocurrencies you want to convert, such as Litecoin for Solana. Type in the swap amount, based on the coin you’re exchanging.
Exodus will then display the exchange rate. Confirm the order and the two cryptocurrencies will be converted. The purchased coins will automatically appear in Exodus.
Conclusion
Swapping tools enable users to convert cryptocurrencies without using an exchange. This often means anonymous and non-custodial trading, with swaps executed in seconds. Choosing the right crypto swap site is important – consider fees, security, and supported pairs.
Our top pick is Exodus, a non-custodial wallet with an in-built swap tool. This means users can swap cryptocurrencies directly from their wallet balance. Exodus supports thousands of coins and has built a solid reputation since launching in 2015. It offers native software for desktops, browsers, and mobiles.
FAQs
What is the best swap site?
Exodus is one of the best crypto swap platforms, with thousands of pairs supported from dozens of network standards. Exodus doubles up as a non-custodial wallet and is completely free to use.
Is crypto swap safe?
Yes, crypto swaps are not only safe but they’re often more secure than using centralized exchanges. Swaps are typically non-custodial, meaning the provider doesn’t hold your coins.
What is the best time to swap crypto?
The best time to swap crypto is during standard market hours. Avoid swapping coins over the weekend – liquidity is lower, meaning unfavorable exchange rates.
How long can a crypto swap take?
Many providers offer crypto swaps with an almost instant conversion time. Anything longer than 5 minutes should be considered slow.
Is it better to swap or trade crypto?
Crypto swaps are ideal for speed, convenience, and a user-friendly experience. However, trading on exchanges is typically much cheaper.
References
- What Are Cryptocurrency Pairs? (CoinMarketCap)
- What is an Order Book? (Corporate Finance Institute)
- 3 Order Types: Market, Limit, and Stop Orders (Charles Schwab)
- What Are Liquidity Pools? (Gemini)