To exchange cryptocurrencies and ERC20 tokens you can use several types of exchanges – centralized, decentralized, peer to peer, custodial, non-custodial, and so on.
Changelly and Coinswitch are two very similar services – they are centralized exchanges allowing relatively fast exchange of cryptocurrencies into one another.
Let’s see how Changelly vs Coinswitch comparison would look:
| Changelly | CoinSwitch | |
| Operation principle | Robot integrated into largest exchanges, “including Poloniex and Bittrex” | Aggregates offers from other exchanges: KuCoin, Cryptopia, HitBTC, IDEX, shapeshift Changelly, ChangeNow, Changeretc. |
| Platform | Web-based | Web-based |
| Fees | 0.5% of the trade | 0% to 0.49% included into conversion rate |
| Account necessary? | yes, email/facebook/google/twitter login | depends on the exchange you select |
| KYC | yes, reportedly strict, often locking people out of their transactions. | Supposedly none |
| Sells crypto with credit/debit cards? | yes | Yes, 100+ coins |
| Credit/debit card limits | UK, Canada, Australia – $200 max first tx, then $500 in 4 days, $3000 in 7 days, no limits in a month. | Depends on the exchange you select |
| CIS countries (Russia/Ukraine/Belarus/Kazakhstan/Armenia/Georgia) – $1000 max first tx, $3000 for the first week, $10000 for the first month, no limits in a month. | ||
| EU & rest of the world – $500 max first tx, then $1000 in 4 days. No limits in a month. |
Both exchanges are centralized platforms that will sell your orders elsewhere – they have trading bots filling their customers’ orders on larger centralized exchanges.
Coinswitch has lower fees than Changelly, and they work with more platforms to supposedly provide the best exchange rates.
Changelly has been known to require user verification during the order process so deals are often cancelled if verification takes too long. Coinswitch seems like a better option because it supposedly has no KYC requirements.
Based on the information accessible online and user reports, Coinswitch seems like the winner of the Changelly vs Coinswitch comparison.