Two sites you can use without having to trust exchanges with your funds

in trading •  2 years ago 

For those of you who don't want to bother signing up to exchanges or having to verify your identity and more important don't want to leave too much value in the hands of others but still want to trade every now and then and speculate on currency movements. There are some other services which can help you with this without having to trust exchanges.

I'm not going to get into decentralized exchanges in this post yet as I recently discussed them. This is about services that offer quick and easy trades from one currency that you hold in a secure wallet which only you have the keys to to another currency which will end up in a wallet of yours as well. This eliminates the risk of trusting exchanges in the scenario that they will freeze your account and funds or go down and the hassle of having to wait for weeks for them to respond to your tickets.

One of the biggest services that offer this and is well known to us Steemians is @blocktrades at

If you want to trade Bitcoin into another currency, it allows for all of these as of right now:

But also for Steem Dollars and Steem Power to your account directly (it didn't fit in one screenshot).
They have recently also added a delegation feature for SteemPower for 1 or 3 months which you can read more about here: Blocktrades Delegation Announcement.

Blocktrades also accepts many coins to trade into the screenshot above, not viewing the Bitshares ones, this is the rest of the currencies they accept:

I have personally used their services quite often and it is very reliable. Fees will apply + transactions fees but due to other exchanges often being unreliable it often may pay off a lot more to use these services instead. This one time Poloniex was down and Steem was having a breakout on Bittrex the fast service of Blocktrades allowed me to do some good arbitrage for a fast profit which you can read more in an old post of mine.

Shapeshift is another similar service that allows for quick and safe trades between currencies without going through exchanges. They have a wide selection of altcoins and let you trade in between them for a fee and transaction fee. You choose what currency you want to input, place your address of the other currency you want to trade with and you will receive them in a matter of minutes (not counting confirmation times).

It has been up and running for a long time but seems to have some problems every now and then keeping all altcoins available for trading. Steem and Bitshares for instance are currently disabled but we hope they will be back up soon! Make sure to always check if they are available at the time of doing a trade.

Hope this article helped some of you traders out there who don't want to trust exchanges with your funds but still want to actively trade. The volatility we are having lately gives a lot of room for profits even if there are some extra fees involved by using these services instead of exchanges.

Stay safe out there!

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I use :) and about shapeshift the altcoins i wanna exchange are always "temporarily unavailable"

@transisto thx for the recommendations, me right now doing :D

@transisto @acidyo this is the reply from ShapeShift

Thanks for the suggestion! I'll take a look into it and maybe add it to another post in the future, I remember the rates being far from great when it started off in the beginning but I'd be happy to hear that has changed!

Yeah like I mentioned almost half the coins they support are unavailable. :/

Yeah, after getting funds stuck in Bittrex who want 'advanced verification' I've gone back to changelly and I love it!

How can you forget about ? Better than Shapeshift and support STEEM and SBD.
(will switch my vote if you edit)

Last time I tried it it was very far off from "the best rate" so it didn't come to mind at all.

No not going to edit it anymore, next time maybe ask that before flagging and I might consider.

blocktrades is most comfortable for me..

I hope blocktrade to be a big exchange.

Thank you very much for your information it might just come in handy one day. Cheers

No doubt Blocktrades offer great services!

Another useful post! Blocktrades and Shapeshift are indeed very reliable! They've never let me down! Good to see you trying to help more and more. Upvoted!

Highest Regards

  ·  2 years ago (edited)

Nice post man! I haven't used any of these services yet but now I might try it out. Thanks for sharing

I don’t have photo ID, so exchanges are really difficult. Blocktrades is useful, I’ve poked around there. All I need to do is figure a step from there to a GBP bank account.

Once you figure that out let us all know.

I will! But I’m focusing on building Steem Power atm. I need it if I’m going to be useful around here.

i agree with you

Have been using changelly, bittrex had some issues in its verification process , guess blocktrades is more handy, will try it thanks for the post anyway

  ·  2 years ago (edited)

@acidyo I have registered on and login into the account only to encounter this Screenshot_2017-12-13-09-27-38.png

Also, I discovered that it doesn't give privacy as and
See the screenshot below

I am getting the exact same error msg, so I emailed support they were no help.

Do @blocktrades honour the exchange they show on the page or does it vary by when the trade is complete?

Really informative! Yes, there is verification issues in trading sites like bittrex. Thanks for sharing this info !! 👍

@blocktrades UI is best ..very easy to use ...they also provide the facility of delegations as @acidyo mentioned above....thanx @acidyo your post always useful for us...keep posting

I only have a handful of experiences with blocktrades, but they were good experiences.

Shapeshift on the other hand has all the coins you could want, but they semi-often go temporarily unavailable.

I hope blockshares can widen it's coin offerings, that'd really impress me!

Thank you for this! I was looking for Steem exchange websites, seriously, thank you!~

Thank you for blocktrades information.

just started. this is super useful. getting a bit irked by the massive downtime so many sites are facing.
do you recommend using the jaxx/exodus wallets for safekeeping ?

How do the fees on blocktrades compare to those of bittrex or other exchanges.

yep i can stand by blocktrades, never ever had a problem in one year of using it.

ShapeShift is a great Swiss crypto exchange back in mid-August they have purchased the Bitcoin hardware wallet startup KeepKey and did a good cooperating with the police in the WannaCry ransomware case.
Blocktrades is great as well it is easy to use and the transactions are done very fast, the fees are a bit high but the service is very good.
I use both of them and I am happy with there service.

blocktrades is a site that buy and sell sbd

Hi friend great information about the transaction system of cryptocurrncy market. Thanks, I have not yet gone through any of them, but your valuable post support me much in my future transaction. Thanks, wish you a very happy time friend.

I totally agree with you the two sites, blocktrades and shapeshift. I thought I'd mention that I've changelly several times recently and have had great success with them as well. Great info for the community

I signed up on Bittrex and it's asking a lot of detaiks,I just abandoned it..!

Blocktrades is really quick and reliable but fees are really high for a minnow like me.

I usually use changelly and I now need to check out shapeshift..

Thanks for info! I am super new just opened a coinbase account so I have absolutely no idea what to do next lol thank God I accidentally bought LTC!

  ·  2 years ago (edited)

Dealing with Exchanges can be a difficult thing for people like us living in developing countries...
Like most of steemiansI already knew about blocktrades but I didn't knew about Shapeshift....I will give Shapeshift a try...
Thanks @acidyo for this valuable post....:)

Hey dear @acidyo :) Thank you for your advice! As a newbie I am really appreciating this! It's good to get advice from experienced Steemians to avoid pitfalls! :)
Have a great day!

I've had fantastic results with both and this is great info for newbies. I've also had good luck with changelly

Thanks so much! I don't want to have to use my info or identity. This helped @acidyo!

which left me a little disappointed was the sp delegation that was not available for a while, as this made me as a small fish gathering steam to be able to hire a delegate to be disappointed with @blocktrades. when I as a small fish really hope to make Transactions There. because only through this service we all users of this platform can be safe and secure .. i hope @blocktrades can solve this soon maybe .. i lke you @blocktrades .. thanks so much @acidyo

Blocktrade is so handy. Plus quick, one can track history. Its a blessing for non tech pro people.

I like Blocktrades, I just converted 2.2 SBD into 14 SP. Best trade ever! I know it's small numbers, but for me they mean a lot :)

Thanks for this well informative valuable post
Please which wallet are great for storing Litecoin?

I use blocktrades and I think it works out well for me. I have just started in crypto so I will have to check out the others also.

did share shift also delgate Sp or not block trade is good but is has no free sp now, is good but then their UI to me is some how not too friendly to newbies.
It is simply some how complex to a newbie.
I will take a look @blocktrade.

I hope in the nearest future we will have such non conventional excghange that will enable deposit of fiat and vise versa

nice post and good

I am one of the most frequent customers who make transactions with @blocktades, we all know, small fish want to get bigger with aim to buy delegation. stock again empty. i hope blocktrades can provide it as soon as possible .. thanks so much @acidyo, respeck to @blocktrades ..

Thank you for the information @acidyo

Hi. I'm familiar with blocktrades and i agree. But shape shuft is something new for me. Thanks for your review.

its really awesome post dear friend,,,, As a new steemit user iam really interested to know more and more like this news and trying to guess properly about all of this service,,, like as Bitcoin,, now is Block trade..... thanks for your great post...

I needed a site like those thanks for your useful post bro. Did you try exchange before on this site ?

You forgot have also a lot of coins in it! Is a good option. I personally just use Blocktrades for everything related to Steemit atm.

Blocktrades is awesome but I've never heard of shapeshift. I will have to check it out.

  ·  2 years ago (edited)

Blocktrade, Shapeshift and changely are all in same category - very reputable and reliable

wow, good info and nice post

I have took some usd from steemit already but to be honest the other day wanted to cash out some more and i couldnt remember how I have done de exchange or where lololol this is how much a noob I am lol

nice post thanks for information

Thank you for this. What a nice treat. Hope you enjoy your weekend.

blocktrades & shapeshift both are good

while @blocktrades is faster than shapeshift, it has lesser cryptocurrencies listed.

this information is very useful, I am very glad to see it, thank you for the information hopefully your day is fun @acidyo

I trade with both of the sites. Very trustworthy sites. Good information..

Thank you for taking care of our safety. I appreciate it. I also use the services And I really like how this service works. Good luck to you and good.

decentralized exchanges damn there's still alot to know about crypto, it is Revolutionizing the world with its awesomeness

I’m new to the crypto world so I found this article to be super helpful and informative. Thanks for sharing ! 👊🏼

Good post thanks for sharing

Can you buy Steem directly from these two sites? Or do you have to have one of the altcoins already to trade?

Safety has it's price, for now at least.

Looking forward to make my way through it! thanks for valuable information.

Blocktrades service is fast and good as well as shapeshift @acidyo and both are really reliable. I don't know why they charge a bit high though.

thank you guys have told us this in terms of exchange.

Mmm?? Doesn't blocktrades have too much Uneven exchange rates? Like i remember 2 months ago they were giving me 20 steems for almost 80 dollars worth of bitcoin

Hi, I checked our database but I couldn't find a transaction like that. Can you please send info about the transaction to [email protected]: I'd like to investigate it further.

Kindly consider rechecking the comment. I said "giving me" not "gave me". When i saw what i will get, i didn't go through with the transaction. I was new at steemit back then and wanted to purchase few steems to get myself started..

After that i asked a non steemian to directly deposit steem in my account from their bittrex bitcoin wallet..
hope no hard feelings? This was just an observation...

No hard feelings, I was just curious.

I don't recall a pricing problem of that type, certainly not in the past couple of months. But it's possible there was some temporary interruption in pricing data that could have reported something like that, but I couldn't find any transaction with a price that out of whack, so I just wanted to be sure I hadn't missed something in my database check.

Nice article and thanks for the sharing!

I was under the impression that Blocktrades was decentralized. Your saying that you didn't want to talk about decentralized exchanges in this post suggests that it isn't. Does Blocktrades have a centralized focal point where authority can assert control?

Thanks for the info acidyo!! Will definitely be looking more into these trading sites

that's great ...keep it up.
on cryptocurrency...
thank's for sharing.

Yes I love @blocktrades too because I don't have to give away a bunch of my info.

Thanks for the reminder... with Poloniex being dodgy again and Bittrex starting to crack at the seams (not sure their infrastructure is up to handling the partnership with UpBit) it's good to have alternatives.

But if you want an exchange that you can get free coins and cars plus the lowest fees then check out Binance!

very important news this post

very good :)