Changelly and Shapeshift are platforms that offer you to buy any cryptocurrency instantly. This article gives a glance at both platforms by collecting features and benefits.
There are different ways for users to get access to cryptocurrencies. Exchanges and P2P platforms have been two of the best options to gain exposure to the cryptocurrency market. However, there are other ways to acquire Bitcoin (BTC) and other virtual currencies.
Changelly and Shapeshift are two platforms that allow users to buy and sell cryptocurrencies in a fast and easy way. Compared to traditional crypto spot exchanges, both Changelly and Shapeshift will provide secure transactions to users acting as intermediaries between traditional virtual currency exchanges and users.
In this guide, I will make a comparison of Changelly vs Shapeshift, I will go through some of their characteristics and I will also tell you how you can do to get access to cryptocurrency assets using these two services.
Changelly vs Shapeshift
First of all, in this Changelly vs Shapeshift guide I am going to explain to you which are the main differences between these two platforms. Both of them will be offering some of the best services for users in the cryptocurrency space. You will definitely enjoy using these two services as they were developed to offer easy-to-use solutions.
Speed, fees, and security are some of the main issues and factors users take into consideration before they decide to use one or another platform. There are going to be some differences in the way users protect their accounts and data, the fees they have to pay for transacting digital assets, and the coins supported for each of these sites.
We can be sure that both of the sites have a good variety of assets and currencies supported. This will make it easier for a wide range of users to get access to the crypto market. This is specifically true for individuals that have never used a crypto exchange – which could become challenging for those that never traded before.
Changelly Cryptocurrency Platform
The Changelly cryptocurrency platform is going to be very useful for you to buy Bitcoin and other virtual currencies. As you can see in the image above, you will be able to acquire digital assets as soon as you enter the site.
The company will ask you which currency you want to use and it will immediately offer you the amount of the virtual currency you want to receive in your wallet. The process is very simple and the interface makes it very intuitive for people.
Changelly is certainly a leader in terms of its offering to users. Dealing and handling digital assets in such an easy way is going to be pleasant. Users will not have to be worried about learning how to trade, placing market or limit orders or withdrawing their funds to their wallets.
At the same time, Changelly will have a smartphone application that can be downloaded using Google Play or the App Store. Both of these applications will work as smoothly as the web version and will allow you to get access to the same services you would normally get using the web platform.
Changelly vs Shapeshift: Buying and Verification Process
The buying procedure is going to be very straightforward using both platforms. You can be sure that the Changelly vs Shapeshift discussion gets solved there. It is certainly easy for users to get access to virtual currencies on both of these platforms.
While on Changelly you will have the possibility to get Bitcoin or other virtual currencies as soon as you enter the site, in Shapeshift you will need to go around the website before you finally find the screen that will allow you to get access to the virtual currencies you want to acquire.
Nonetheless, as soon as you click on “Buy Bitcoin” on the top right of the site, you will find the following screen that will make it easy for you to buy the virtual currencies you were looking for.
The verification process is quite easy on both platforms. Indeed, you will only need to provide an email address and a password to handle your accounts on these platforms. You will not have to provide information related to your ID, passport, or driving license as other exchanges require.
Buy Crypto on Changelly
In order to buy a cryptocurrency using Changelly without a bank account, you can simply select the virtual currency you want to use to buy another digital asset and press the “Exchange Now” button. This will take you to the next screen where you will see all the details of the transaction.
You can select fixed or floating rates that will allow you to have better rates for your purchase. Floating rates make reference to market values while fixed rates are an established rate that lasts for a few seconds and allows you to purchase a digital asset at a specified price.
In this screen, you will also have to provide your recipient address and the refund address you use in case of need. After pressing “next step” you will finally be able to get your funds. Take into consideration that you will have to provide an ID if you want to use your bank account.
Buy Crypto on Shapeshift
Purchasing cryptocurrencies in Shapeshift is also very simple. You will have to select “Buy bitcoin” and connect your wallet to the website. There are different wallets supported that will make it easier for you to get access to virtual currencies.
Once you select the wallet you want to use, you will have to decide which digital currency you will use to get the cryptocurrency you want to buy. Both sites are quite useful to exchange digital assets in just a few minutes and without major issues.
Road to Cryptocurrency on Changelly
The fastest way to acquire Bitcoin or any other cryptocurrency is by using a credit card. Also, with this method, you don’t need to go through an extensive KYC verification process.
Step 1 – Create an account in Changelly
First of all, you will have to create an account in Changelly. You will have to provide an email and a password that will be sent to your email account. Then you will have to change it on the platform.
Step 2 – Buy Cryptocurrency
This is very easy. As you see, you can already acquire cryptocurrency using Changelly. You will be able to see the page provides you with all the information you need. You need to enter the number of funds you want to buy and the currency you want to use.
Take into consideration that you will have to provide an ID or identification to buy using a bank account or fiat currencies. However, if you do not have cryptocurrencies in another platform, this will be one of the best ways to get access to the crypto market.
Step 3 – Provide Address Information
You will have to share the information related to the address you will be depositing the funds. This address is going to receive the money you will buy. Thus, if you buy Bitcoin, you will have to provide your BTC address. If you buy Ethereum, you need to use a valid ETH address.
Road to Cryptocurrency with Shapeshift
First of all, before entering the buying process, it’s important to know that you already should own a wallet. In contrary to cryptocurrency exchanges, these platforms don’t offer custodian wallets.
So, when the buying process has finished the cryptos will be sent to your wallet immediately. Therefore, I would recommend Nano Ledger hardware wallet, mostly because it supports the storage of more than 300 different cryptocurrencies.
Step 1 – Create an account in Shapeshift
The first thing you want to do is to create an account using ShapeShift. Be always aware there could be scam websites. Check the URL and make sure you are using the real one.
You will have to provide a password and an email address in order to create an account. You will also have to confirm you are not a robot. After that, you have to connect your wallet by clicking on “Connect a wallet” at the upper right.
Step 2 – Buy Cryptocurrency
Using both ShapeShift or Changelly is quite easy. Now that I have created an account I will be able to acquire cryptocurrency. If you want to exchange Bitcoin for Ethereum, then you will have to select the coin you want to deposit (you will have a large list of options), and then the coin you want to receive.
You will have to provide information about the wallets you are using both to deposit the funds and withdraw them. You are not able to receive two different coins in the same address. However, you can have a wallet with addresses for both Bitcoin and Ethereum.
Step 3 – Confirm the Transaction
Finally, you will have to send the funds to the address displayed by ShapeShift and wait until the coins arrive. This can take a few minutes, but don’t worry, the system works very well. Once the funds are received, you will be able to see and track your transaction on the blockchain.
Now that you know that it is very easy to get access to the cryptocurrency market, the next section in this Changelly vs Shapeshift comparison is to understand which are the available virtual currencies.
You will find it very interesting, especially when both of the sites are offering users a wide range of coins they can acquire. Some traditional spot exchanges have a limited number of coins users can buy, however, using Changelly or Shapeshift you will get access to some of the largest cryptocurrencies in the world such as Bitcoin (BTC), Ethereum (ETH), or Litecoin (LTC) and also smaller cap coins.
This shows the compromise of these two companies and how they try to offer better services to clients all over the world without hesitation. While exchanges can take a long time to add support to new currencies, Changelly and Shapeshift are already supporting a wide range of assets that would be very useful for investors that want to have a diversified portfolio.
Fiat Currency Options
Buying cryptocurrency with fiat currency is what most of these trading platforms offer and Changelly or Shapeshift are no exception in this.
If you’re interested in one of the biggest differences in the Changelly vs ShapeShift debate, fiat currency availability is definitely something to consider. ShapeShift has a strict no-fiat policy. Instead, ShapeShift partnered with Simplex to give you this option. Even with this partnership, you can only choose between BTC-USD and BTC-EUR trading pairs.
Changelly on the other hand has some broader options for buying with fiat currency available. Buying Bitcoin can be done with EUR, USD, or GBP, and also many other cryptocurrencies can be bought this way with fiat currency.
Remember that when buying with a credit card at both platforms comes with an additional fee. Particularly, third party Simplex charges about 5% fee on every credit card transaction being made.
Both of these platforms offer services to clients from all over the world. However, there may be some exceptions that are not openly mentioned by any of these platforms. Nonetheless, it is worth taking into consideration that some of the services offered by Changelly or Shapeshift may be limited to some regions or jurisdictions due to legal issues.
For example, users that want to withdraw BTC or EUR can do so in just a limited list of countries, mostly in the European Union and a few exceptions such as Great Britain or Israel. Nonetheless, the general services should be available to users from all over the world without distinguishing their location.
Some traditional crypto exchanges block users from specific jurisdictions in order to avoid legal clashes with local authorities.
The fees are going to be one of the main topics of this Changelly vs Shapeshift comparison – and I can understand that you are curious about it. You will have the possibility to compare the fees that Shapeshift platform offers directly on their site.
This is because they want to provide clear information to users on which are the services they offer and which is the amount of money they have to pay for processing a transaction. The only fee they take is the so call “miner fee” which is the amount of crypto that is paid to miners that confirm the transaction.
Changelly, instead, has a flat fee equal to 0.25% that would be applied to all the transfers that you will process on the platform.
Both companies offer acceptable customer support. It is necessary for these platforms to offer support in case users encounter issues or problems while handling digital assets on their site. It is very fair to say that Changelly offers better customer support than Shapeshift.
This could also be related to the fact that Changelly has higher fees than Shapeshift when it comes to buying and selling cryptocurrencies. It is logical to think Changelly could offer better support than Shapeshift.
Nonetheless, I think you need to accept than I didn’t encounter issues with Shapeshift’s customer support, even when there were some negative comments about it.
Changelly vs Shapeshift: Safety and Security
Both platforms are very secure for users to buy and sell cryptocurrencies. Changelly seems to win in this section of our Changelly vs Shapeshift comparison. In the past, Shapeshift has been attacked and hacked by a group of thieves. Additionally, they were able to get thousands of dollars in funds from their wallets.
This cannot be said about Changelly. The platform has been helping other exchanges recover funds from users that were stolen. For example, they have put on hold almost half a million dollars worth of EOS coins when the Bithumb exchange was hacked last year.
Security is one of the main issues affecting exchanges and many of these platforms have been attacked in the past. Changelly is certainly doing a great job protecting users’ funds and improving crypto security standards.
Changelly Pros and Cons
|✓ Pros||✗ Cons|
|Very fast, buying crypto can take minutes||No crypto trading|
|More than 140 cryptocurrencies available||Cryptocurrency prices are set by Changelly|
|Integrated with many wallets and other exchanges|
Shapeshift Pros and Cons
|✓ Pros||✗ Cons|
|Instantly swap crypto-to-crypto on a fast exchange||Unregulated|
|No additional or hidden fees||Registration required for buying with fiat|
|Trading is possible|
Changelly vs Shapeshift: Conclusion
So which exchange wins the Changelly vs ShapeShift review? By researching all options above, it seems that Changelly has a slight edge overall. Although, if fees are important to you, it may be worth using ShapeShift instead. On the other hand, Changelly has proven over time that buying cryptocurrency with their platform is very secure.
All in all, whatever platform you decide to choose, be very careful and make sure you are dealing with the proper party. Moreover, fishing and fake URLs still are the main risks of losing your mighty cryptos. Be safe!
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