Best Crypto Swap Sites in December 2024

Crypto swap sites are ideal for beginners who want to exchange one digital asset for another. For instance, swapping Bitcoin for Chainlink or Solana for BNB. Fees can be higher when compared to traditional cryptocurrency exchanges, so choosing the right platform is crucial.

Read on to discover the best crypto swap sites in 2024. We evaluate fees, safety, reputation, supported coins, and KYC requirements. You’ll also learn how crypto swaps work, and whether they’re the best way to exchange digital assets.

Detailed Reviews of the Top Crypto Swap Platforms

The top crypto swap platforms will now be reviewed in full. Read on to choose the right provider.

1. Best Wallet – The Overall Top Crypto Swap App in the Market

Best Wallet is our overall top pick. It’s a decentralized crypto wallet offering non-custodial storage. Best Wallet has an in-built tool that supports crypto swaps. Thousands of tokens are supported from dozens of blockchain standards. The latter includes Bitcoin, Solana, Ethereum, BNB Chain, and Polygon. Swaps are funded via the user’s wallet balance.

For instance, suppose you’re currently holding 10 SOL. You could instantly exchange that 10 SOL for ETH. The purchased ETH will immediately show in the Best Wallet balance. Another benefit of choosing Best Wallet is low fees. It obtains the most competitive exchange rate from external liquidity pools. These are sourced from decentralized exchanges, ensuring users remain off-chain.

Best Wallet is also a great option for security. Its mobile app for iOS and Android is compatible with two-factor authentication and biometrics. Best Wallet will also appeal to users who favor privacy. It offers an anonymous experience from the get-go, considering no account is needed. Best Wallet will soon support staking, crypto debit cards, derivatives trading, and other tools.

2. Exodus – Swap Thousands of Crypto Tokens From 50+ Blockchains   

Exodus is also a decentralized crypto wallet with a great reputation for safety. Launched in 2015, Exodus offers native software for desktops and mobiles. Supported operating systems include Windows, Mac, Android, and iOS. Once installed, users can store and swap thousands of cryptocurrencies without leaving the wallet interface.

More than 50 blockchains are supported, ranging from Bitcoin, BNB Chain, and TRON to Ethereum, Solana, and Dogecoin. Exodus’ swapping tool is simple to use and fees are sourced from decentralized liquidity providers. However, fees are automatically built into the exchange rate. This means a manual calculation is needed when evaluating competitiveness.

Nevertheless, the purchased tokens are instantly deposited into the user’s wallet balance via smart contracts. Exodus also offers an in-built staking tool with competitive interest rates. This covers some of the best cryptocurrencies to buy, including Cardano (2.76%, Cosmos (14.75%, and Kava (8.05%). Exodus also connects with decentralized applications like Uniswap.

3. Margex – Instantly Swap Large-Cap Coins Without Paying Any Fees   

Margex is a popular trading platform that doubles up as a crypto swap site. It offers instant conversions on 10 large-cap cryptocurrencies, including Bitcoin, Ethereum, Solana, and TRON. The two leading stablecoins, USDT and USDC, are also supported. Although Margex supports a smaller range of cryptocurrencies than other swap sites, several benefits should be considered.

To start with, Margex doesn’t charge fees when swapping cryptocurrencies. It holds billions of dollars in exchange liquidity, so it’s just a case of transferring coins from one web wallet to another. What’s more, users only need to meet a $10 minimum based on the current exchange rate. Cryptocurrency ‘Whales’ are also catered for; the maximum swap volume is $30,000 per day.

Margex is also a great option for accessing high leverage levels. It offers leverage of up to 100x, meaning a small margin requirement of just 1%. This provides $10,000 worth of trading capital for every $1,000 held in the account. Margex’s leverage products are perpetual futures, so long and short positions are supported. Margex also offers copy trading tools and competitive staking yields.

4. MEXC – Trade Over 2,500 Crypto Assets at 0% Commission   

While MEXC doesn’t have a traditional swap tool, we’ve included it in this list for two key reasons. First, MEXC’s spot trading cryptocurrency exchange offers commissions of 0%. The only requirement is to place limit orders. This is beneficial, as you get to choose the trade execution price and can avoid slippage. Second, MEXC supports more than 2,500 cryptocurrencies.

Most trade against USDT, making it seamless to invest in new and established projects alike. Another reason why MEXC is so popular is its KYC-free experience. Users can open an account with an email address or mobile number, meaning no personal data or KYC documents. MEXC also offers lightning-fast payouts, with crypto withdrawals typically approved instantly.

MEXC is also a great option when trading on margin. It offers a maximum leverage threshold of 200x, converting a $100 account balance into $20,000. MEXC also supports Web 3.0 products, including staking tools, savings accounts, and crypto loans. Not to mention a peer-to-peer platform and a safe launchpad for investing in new cryptocurrencies.

5. BloFin – A Great Option for Trading Meme Coins With Low Fees   

BloFin is also one of the best crypto swap sites to consider. It supports thousands of cryptocurrencies, including some of the top meme coins. This covers everything from dogwifhat, Myro, and Pepe to Dogecoin, Shiba Inu, and FLOKI. However, do note that users must place limit or market orders when trading cryptocurrencies.

While this might be intimidating for beginners, we found BloFin’s trading dashboard super user-friendly. This is the case when using the desktop website and mobile app for iOS and Android. BloFin also offers competitive fees. The maximum commission is just 0.1% per slide. For instance, suppose you swapped $1,000 worth of USDT for Pepe.

This trade would cost just $0.10 in fees. And, commissions are reduced when trading volumes increase. This incentivizes users to remain on BloFin long-term. In addition to spot trading, BloFin also offers futures. These markets come with leverage of up to 150x. Additional features include copy trading, earning tools, and comprehensive learning materials. For more details why not read our full BloFin review as well?

6. OKX – Swap Hundreds of Cryptocurrencies Without Fees or Slippage

OKX is a tier-one crypto exchange that supports hundreds of coins and tokens. It offers an instant conversion tool that’s ideal for beginners. Simply enter which coins or tokens to swap, type in the amount, and confirm. The purchased cryptocurrencies will then be added to the OKX wallet. OKX doesn’t charge fees when using the conversion tool.

It also offers slippage-free swaps. This ensures the quoted and final prices are like-for-like. However, users should still manually evaluate the exchange rate provided, especially when swapping lower-cap cryptocurrencies. Another option on OKX is to use its decentralized Web 3.0 platform, which is separate from its centralized exchange.

This offers token swaps via hundreds of external liquidity pools. Dozens of blockchain standards are supported, including Solana, BNB Chain, Ethereum, and Arbitrum. OKX’s decentralized ecosystem also includes a non-custodial wallet. Users can even activate MPC (multi-party computation) security for enhanced safety and protection.

How do Crypto Swaps Work?

Crypto swaps enable users to exchange one digital asset for another. The process is aimed at novice traders who aren’t familiar with spot trading exchanges or order books. Swaps simply require three pieces of information.

• First is the payment asset – which is the crypto the user currently holds.
• Second is the receiving asset, which is the crypto the user wants to receive.
• Third, the swap amount.

For example, let’s say the user wants to swap BTC for SOL. They enter BTC and SOL as the payment and receiving assets, respectively. They type in 0.1 BTC as the amount. The swapping tool shows that the user will receive 42.58 SOL. This means the quoted exchange rate is 1 BTC = 425.85 SOL.

Once the user confirms, BTC will be exchanged for SOL, and the purchased SOL will be added to their account. Ultimately, the best crypto swapping platforms are ideal for quickly exchanging coins or tokens without placing orders. However, although the exchange rate is quoted in real-time, users must manually assess whether it’s competitive.

Exchange Rates and Slippage 

Most crypto swap sites advertise a fee-free experience. However, hidden fees must be considered. This is because the swap will be quoted an exchange rate.

This will vary from one swap site to the next.

• For example, suppose you want to swap 1 ETH for DOGE.
• The first site quotes 20,006.70 DOGE for that 1 ETH.
• The second site quotes 21,975.69 for the same 1 ETH.
• This means you’re getting an extra 1,968.99 DOGE by using the second site.
• This is why comparing exchange rates is so important.

Additionally, you can avoid slippage when using crypto swap sites. This is because the quoted exchange rate is final. You’ll often be given a few minutes to confirm the swap. Otherwise, a new exchange rate will be quoted.

Avoid Multiple Trades

Swap platforms are also ideal when swapping cryptocurrencies that aren’t typically ‘paired’ on exchanges. For example, you can easily swap BTC for ETH or SOL for USDT. But trying to swap PEPE for TOSHI isn’t as straightforward. This is because a PEPE/TOSHI pair doesn’t exist.

As such, you’d likely need to trade PEPE for USDT, and then USDT for TOSHI. Needing to execute two trades is both cumbersome and costly. In contrast, the top crypto swap platforms enable users to exchange hundreds or thousands of digital assets via a single trade.

Funding a Swap

The funding process varies depending on the crypto swap platform.

For example, Best Wallet simply requires users to connect a non-custodial wallet. The token swap is executed instantly from the connected wallet’s balance. The newly purchased tokens are added to the same wallet via smart contracts. This means Best Wallet never touches client-owned tokens.

Conversely, traditional centralized exchanges like Margex and MEXC have a different funding process. Users must first deposit funds into their account by making a wallet transfer. The deposit is normally credited in a few minutes. Users can then swap those cryptocurrencies for their preferred digital asset.

Difference Between Crypto Swapping and Trading 

Swap platforms are tailored to audiences outside of the crypto trading space. This includes complete beginners who simply want to convert two different cryptocurrencies. For example, suppose they want to swap BTC for ETH. Newbies can enter the amount of BTC they want to swap, and the conversion tool will automatically display the equivalent in ETH.

The user can then decide whether or not they want to accept the quoted exchange rate. Swapping tools are also popular when converting cryptocurrencies from different blockchain standards. For instance, swapping WIF (Solana) for PEPE (Ethereum) or BNB (BNB Chain) for BRETT (Base). However, active traders don’t use crypto swaps aimed at outperforming the market.

For a start, there’s often a disparity between the spot trading price and the exchange rate quoted by the swap site. This almost always means that swap prices are more expensive in real terms. Moreover, swap sites rarely support limit orders, meaning users have no control over prices. They also lack advanced trading tools, such as charts, technical indicators, and market insights.

Ranking the Best Crypto Swap Platforms: Our Criteria 

An increasing number of platforms offer crypto swap services. Listed below are our main criteria when ranking the best providers.

• Supported Crypto Assets: We prioritized swap sites offering a wide range of cryptocurrencies across multiple blockchain standards. This ensures users can seamlessly swap cryptocurrencies without using multiple platforms. Best Wallet, for example, supports thousands of coins and tokens, including those operating on Ethereum, BNB Chain, Polygon, and Solana.
• Security: We only considered swap sites offering a safe user experience. Best Wallet and Exodus stand out for their decentralized swaps, meaning they never touch client-owned funds. Margex and MEXC offer two-factor authentication, while OKX users benefit from MPC technology.
• Fee Structure and Swap Rates: The best crypto swap sites offer a cost-effective experience. This should include fee-free swaps and slippage protection. We manually evaluated average exchange rates too, ensuring the users get the best market prices.
• Liquidity: The amount of liquidity available is another important factor. Swap sites with access to vast liquidity pools are the best option. This ensures even large trades get competitive exchange rates. Conversely, platforms with limited liquidity will struggle to meet the full swap amount, often meaning higher prices or failed orders.
• Funding Method: Our criteria also explored the funding method. For instance, we included swap sites that support wallet connections, meaning fast execution without needing to manually transfer cryptocurrencies.
• KYC Requirements: Some swap sites offer a KYC-free experience. This means personal information, contact details, and ID documents aren’t collected. We also included centralized swap exchanges with KYC procedures, considering some users are happy to link their crypto trades to their real-world identity.
• Additional Features: We also prioritized swap sites offering additional features. For example, Best Wallet stands out for its non-custodial storage, while Margex is ideal for obtaining leverage. MEXC is a good option for those seeking copy trading tools, and Exodus is suitable for earning competitive staking rewards.

Can You Make Money When Swapping Crypto

Crypto swaps can generate a profit, but it’s not their primary purpose. Instead, swapping tools are merely a way to convert one digital asset into another. The swap will be conducted at an exchange rate, which could be higher or lower than the spot trading price. Nonetheless, a profit will be made if the value of the newly purchased cryptocurrency increases.

• For example, let’s say you buy $4,000 worth of Bitcoin. This gets you 0.063 BTC based on the existing Bitcoin price.
• You immediately swap that 0.063 BTC for dogwifhat, which gets you just over 1,522 WIF.
• You hold that 1,522 WIF for several months, seeing its price increase by 150%.
• This means swapping BTC for WIF was a smart move, considering it generated a 150% profit.

However, crypto swaps can also result in financial losses. For example, suppose the WIF price declined by 60% after making the swap. And Bitcoin increased by 15% over the same period. Not only does this mean you’re 60% down. But you missed out on the 15% gains by not holding BTC.

Beginner’s Guide on How to Swap Crypto

This section offers a practical guide on swapping crypto via Best Wallet, our top pick for 2024.

Step 1: Visit the Best Wallet DEX

The first step is to visit the Best Wallet DEX.

No account is needed, let alone KYC documents. Click the ‘Trade’ button to open the swapping tool.

Step 2: Connect a Wallet

Best Wallet offers the fastest and most secure way of swapping crypto. This is because swaps are executed by decentralized smart contracts and liquidity pools.

Put otherwise, Best Wallet never holds your cryptocurrencies – even when the swap is being administered. So, the next step is to connect a private wallet to the DEX. Multiple wallets, including Coinbase Wallet and MetaMask, are supported.

Best Wallet, the DEX’s native wallet, can also be connected. The DEX also supports WalletConnect, which is compatible with over 500 non-custodial wallets.

Step 3: Enter the Crypto Swap Parameters

The next step is to enter the swap parameters. This includes the coins or tokens you want to swap, and the amount.

In our example, we’re swapping 400 USDT for BABYDOGE. We’re quoted 184,755,000,000 for that amount. This is a competitive rate, but users should assess their own swap quotes independently.

Step 4: Confirm the Crypto Swap

Finally, after assessing the swap quote, confirm the conversion.

Here’s what happens next:

• Best Wallet will immediately execute a transparent and decentralized smart contract.
• This deducts the payment asset (in our example, USDT) from the connected wallet.
• Then, the receiving asset (BABYDOGE in our example) is deposited into the same wallet.
• The entire process takes seconds.

A notification will appear once the swap is completed. You can then disconnect the wallet from the DEX.

The Verdict

We’ve ranked and reviewed the best crypto swap sites, with Best Wallet being our overall top pick. This top-rated mobile app offers non-custodial storage and swapping tools in one safe place.

Thousands of coins and tokens are supported and the best exchange rates are obtained from external liquidity pools.

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