If you are looking for a reliable and safe option to buy or sell cryptocurrency, can you imagine it can be done without submitting an ID? We are used to the fact that all financial transactions are carried out after filing numerous documents and passing all possible registration and verification procedures.
But it contradicts the main principle of cryptocurrency – its anonymity. So it would be logical to expect some services to offer swaps in crypto without any registration or verification process.
Such a type of service is common with Instant Exchanges. An anonymous crypto exchange LetsExchange is one of these platforms on which you can anonymously exchange your coins, any amount of money. In addition to the convenience of an anonymous service, you can count on the following advantages:
- The best prices: The platform searches for the best exchange options among several exchange services. The best offer is selected and only then is an exchange concluded.
- No registration: you don’t have to provide batches of documents to complete a transaction. Once the terms are good for you, you can proceed with your exchange.
- Fast swaps: The only time it takes to complete a swap is the time to register the transaction on a blockchain. Otherwise no delays are to be expected.
- Ease of use: The user interface of such a converter is also suitable for those who have never exchanged crypto before. All you have to do is follow the detailed instructions.
- Choosing between a fixed and a floating rate: With a fixed rate, you can ensure that the rate stays the same throughout the swap period.
- Non-custodial services: The platform does not store your private keys. You are the sole owner of your money.
We only found one major drawback. It does not offer wallet services. Traditional exchanges, on the other hand, offer the service of a wallet.
With a traditional Bitcoin to Ethereum converter, the situation is quite different. So the advantages are as follows:
- A wallet: It is usually easy to use and supports all coins supported by the exchange. In many cases, swaps are offered within the wallet, which is even more convenient.
- Own liquidity pools: As long as the exchange uses its own liquidity pools for the exchange, the prices can be lower.
Disadvantage? Well there are some:
- Custody services: The platform stores your private keys. This can be seen as a disadvantage as the platform has access to your coins.
- Lack of liquidity: In some cases there may be delays in transactions.
Now you can objectively assess which exchange is better for you and what advantages and disadvantages you can expect. Before deciding on one platform or the other, check that it is secure. Don’t forget to contact customer support and chat with them to make sure they are responding adequately. Make sure the platform supports the coins you want to exchange. Typically, exchanges offer a variety of tools to help determine the trends and get the information needed to make an exchange. And finally, exchange your money.