The number of digital asset exchanges has exceeded 200. Many offer different functions, exchange fees and niches that give them a competitive edge. With so many choices, it’s hard for a novice cryptocurrency trader to pick an exchange, and it can also be tricky for more experienced traders to decide where they’ll move to next.
CoinSwitch.co is a cryptocurrency exchange aggregator site backed by venture capital firm Sequoia Capital. CoinSwitch provides vital information for new and experienced users, and acts as a gateway to many reputable cryptocurrency exchanges for traders.
Also, with CoinSwitch, users can launch a customized cryptocurrency exchange on their own websites.
Having only been around for a year, the platform already lists more than 400 coins with over 45,000 exchange pairs across their multiple cryptocurrency exchange partnerships, with names such as IDEX, HitBTC, Bittrex, KuCoin, Changelly and ShapeShift on their roster.
Recent policy shifts with ShapeShift meant that users of the anonymous crypto-to-crypto exchange service would now have to undergo Know Your Customer (KYC) procedures, stripping away the element of privacy that had previously brought ShapeShift to fame.
Since CoinSwitch is an aggregator of cryptocurrency exchanges, it will always have exchanges available which do not ask for user information and KYC, the company says. Currently, there are Changelly, Changer, IDEX and other anonymous exchanges available on CoinSwitch.
Users can select a coin pairing and compare offers available based on the present network transaction rates and market prices. CoinSwitch is essentially an exchange marketplace, through which users can access the crypto-markets. This model removes the need for multiple accounts across various exchanges or even one account for an exchange.
CoinSwitch account holders have access to all their partners. It is a ‘non-custodial exchange,’ meaning users are free to use their own cryptocurrency wallets for transactions, which is good protection against the costly hacks that exchanges suffer from.
Custom crypto exchange
The Custom Crypto Exchange feature allows website owners to add an ‘Instant Exchange’ page to their website, with zero coding required. Through this, website owners earn a 50 percent revenue share of all transactions completed through a custom instant exchange, paid out in Bitcoin (BTC).
According to CoinSwitch, they have over 100 websites using this product, including companies such as Reddcoin and Komodo, all of which were set up within a month of the instant exchange feature launch.
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