Ever since Shapeshift implemented the loyalty program that’s in reality a KYC policy, people started looking for ShapeShift alternatives.
CoinSwitch is one of the services that often gets mentioned as a ShapeShift competitor. Let’s see how ShapeShift vs CoinSwitch comparison looks like:
| Shapeshift.io | CoinSwitch | |
| Operation principle | trading bots on exchanges + own reserves | aggregates offers from other exchanges: shapeshift, changelly, cryptopia, bitswap, bittrex, hitbtc, changenow, changer, blocktrades etc. |
| Platform | Web-based | Web-based |
| Fees | 0 but they claim to earn up to 0.5% on the exchange rate | 0% to 0.49% included into conversion rate |
| Account necessary? | yes | depends on the exchange you select |
| KYC | “basic personal details” | |
| Can buy crypto with credit/debit cards? | no | Yes, 100+ coins |
| Credit/debit card limits | Depends on the exchange you select |
As you can see the main difference is that CoinSwitch is an aggregator that offers more options. You can actually buy Bitcoin with a credit card using CoinSwitch (100+ coins as well), unlike Shapeshift.
If you need a service just for your coin exchange then CoinSwitch might find better deals for you as well, since it aggregates APIs from nearly 10 crypto exchange platforms.
Coinswitch vs Shapeshift verdict – give CoinSwitch a shot for a chance of a better deal.
I used both coinswitch and shapeshift, in principle, I am satisfied, but everyone has a drawback – account registration and limits. Therefore, I am increasingly inclined to use innovative platforms, for example, changenow.io, where are no limits and accounts. I think it is more convenient.