Trade cryptocurrency WITHOUT registering at an exchange. Get the BEST rates using CoinSwitch!

in #bitcoin6 years ago (edited)

Cryptocurrency exchanges ask for extremely personal information and have high fees, slow transactions, and withdrawal limits. Using is easy, you can compare rates of exchange and get the absolute best deal for your money.

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This is CoinSwitch, a place where you can exchange one of 298 different cryptocurrencies at the moment with more being added all of the time. the process is simple and straightforward, they only need minimal information about you is absolutely minimal. You simply create an account and tell them your email address and phone number, you don't even need to give your full name. During this process it would really help me out if you could register using my referral link so that I can continue to put out articles and become more involved in the space as a full time job.

After creating your account you are ready to trade cryptos! Simply click on the dropdown bar under where it says "You Send Bitcoin" to select the coin that you wish to send and enter how much you want to send, in exchange for another crypto of your choice. You then select the coin you wish to receive and an estimate of how many coins you will receive will pop up. Next click "View all offers"

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Next you will see a list of different offers from many competing sites and you can select the deal that best suits your needs. Some coins are available on only certain websites so the amount of offers may vary depending on the type of coin you wish to exchange. Using coinswitch is much more convenient that using an exchange as you can shop across multiple competing offers all at once without needing multiple user accounts on many exchanges.

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After you select the best offer you then need to enter the address of the wallet that you want your NEW coins to be deposited in. Some transactions they ask for a refund address in case the transactions fails, in this case you would simply enter the address of the wallet that you are using to SEND coins from so that in the event of a failure, the funds would be sent back to you.

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Finally all you have to do now is send the same amount of Cryptocurrency that you entered into coinswitch at the beginning of the transaction to the wallet address that coinswitch provides. After this is done everything will take care of itself now.

Once the transaction is confirmed a few times on the blockchain the automated exchange process will begin. Coinswitch will then take those coins you sent and exchange them at the best rate (this sometimes varies slightly from the estimated exchange rate due to the amount of time it takes for the exchange to take place). Once the coins have been exchanged (generally within 15 minutes depending on the blockchain and traffic) coinswitch takes the new coins and sends them to the wallet that you previously entered as the destination. Viola you are the proud owner of whatever coin you switched to!

This process is in my opinion much more convenient than using an exchange and much more private as well. You also can't beat their exchange rates so there isn't really a reason not to use coinswitch unless the pair you want to trade is only available in a certain place.

If you plan to use CoinSwitch please register using my referral link:
It really helps, so that I can spend more time devoted to cryptocurrency and bringing you the news that you need to understand the cryptoverse.

For more crypto and finance related news please follow, upvote, and resteem @steeleminer.

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