Best Crypto Swap Sites in September 2024

Looking to trade cryptocurrencies in the fastest and most convenient way possible? Consider a crypto swapping tool. You won’t need to use a spot trading exchange, set up orders, or wait for sufficient liquidity.

Simply choose which cryptocurrencies to swap and the conversion will be processed almost instantly. Read on to discover the 10 best crypto swap sites for supported coins, low fees, competitive exchange rates, and safety.

Analyzing the Top Crypto Swap Exchanges: Full Reviews

Most crypto swap tools have a similar procedure. Traders select which cryptocurrencies to convert, enter the amount, and confirm.

Nonetheless, traders should assess key factors when choosing a provider, such as fees, available coins, and security measures. The following reviews cover these metrics in more detail, ensuring traders select the right crypto swap site.

1. Exodus – The Perfect Combination Between Crypto Swapping and Self-Custody Storage 

Exodus is the best option when swapping cryptocurrencies. It offers the ideal combination of instant token conversions and self-custody storage. This means cryptocurrencies can be exchanged and stored without leaving the Exodus interface. Exodus users benefit from decentralization; there’s no requirement to use or trust third-party intermediaries with this P2P crypto exchange.

Here’s how it works; First, traders must download a free Exodus wallet. It’s compatible with Windows, Mac, Linux, iOS, Android, Chrome, and Brave. Once the wallet is funded, users can begin swapping cryptocurrencies from their balance. Thousands of tokens are supported by leading blockchains, including Bitcoin, Cardano, Ethereum, and Solana.

Exodus doesn’t charge fees when swapping tokens, but there will be a market spread. Prices are sourced from partnered liquidity providers. Swaps are usually settled in seconds. Those without cryptocurrencies can use Exodus’ fiat on-ramp. This supports bank wires, credit cards, e-wallets, and more.

Pros

• The overall best option when swapping cryptocurrencies
• Offered by a trusted and established self-custody wallet
• Available for desktop and mobile devices, plus web browsers
• No additional commissions are added to the swap conversion rate
• Compatible with over 50 blockchain ecosystems

Cons

• Doesn’t offer a browser extension for Edge or Firefox
• Spreads must be manually calculated before swapping

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2. Margex – Swap Large-Cap Coins at the Real-Time Spot Price Without Conversion Fees  

Margex, one of the best crypto leverage trading platforms, is another great choice when swapping coins. For a start, getting started takes seconds; just provide an email address and password. No KYC documents are needed. You can immediately begin swapping cryptocurrencies without paying commissions. Moreover, conversions are done at the real-time spot price.

This makes Margex one of the best crypto swap sites for cost-effectiveness. Margex conversions support large-cap cryptocurrencies like Bitcoin, Ethereum, Litecoin, Solana, Polygon, and TRON. You can also exchange stablecoins like USDC and USDT. Most swaps come with a minimum conversion requirement of just $10.

Once you’ve swapped coins, the balance can be used to trade perpetual futures. These support long and short orders, plus leverage of up to 100x. Alternatively, you might consider the Margex staking tool. This offers APYs of up to 5%. Any coins staked can be used as collateral when trading leveraged perpetuals.

Pros

• Swap large-cap coins like Bitcoin, Ethereum, and Solana
• No commissions and swaps are executed at the spot price
• Minimum swap requirements of just $10
• Swaps are typically processed immediately
• Also offers 100x leverage and liquid staking tools

Cons

• A much smaller range of swap coins when compared to other sites
• Isn’t available in the US

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3. OKX – Trade Dozens of Altcoins Without Paying Fees and Avoid Slippage Risks    

OKX is another great option for swapping cryptocurrencies. It supports the best altcoins, ranging from FLOKI, Sui, and Pepe to Solana, Dogecoin, and Rocket Pool. Its user-friendly conversion tool is ideal for beginners, just select the coins and amount. The swap will be processed almost instantly, and the receiving coins added to the trader’s OKX wallet.

OKX doesn’t charge commissions when swapping cryptocurrencies, and the best market prices are sourced from liquidity pools. Moreover, OKX swaps come without slippage risks. This means the quoted exchange rate is exactly what’s paid. This is displayed before the swap process begins, ensuring pricing transparency.

In addition to token swaps, OKX also offers a top-rated spot cryptocurrency exchange with premium liquidity levels. Standard trading commissions cost just 0.1%, and hundreds of markets can be traded. OKX also offers derivative markets, including perceptual futures with 100x leverage. OKX is also one of the best decentralized exchanges, with over 400 liquidity partners.

Pros

• No fees or commissions are charged when swapping tokens
• Transparent exchange rates without slippage risks
• The conversion tool is ideal for beginners
• Doubles up as a tier-one spot trading exchange
• Also offers a Web 3.0 wallet with MPC security

Cons

• The swapping tool is offered on OKX’s centralized crypto exchange
• Isn’t available in all countries

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4. Bybit – A Great Option for Swapping Coins to Trade High-Leverage Perpetual Futures     

Bybit has emerged as one of the most popular no KYC crypto exchanges in recent years. It attracts significant trading volumes and is used by millions of active traders. Bybit supports thousands of markets, ranging from large caps like Bitcoin and Ethereum to newly launched meme coins. Another benefit is that Bybit accounts don’t require personal information or KYC documents.

Bybit’s swapping tool comes without transaction fees and commissions, and trades are usually executed instantly. Although there are fewer swap coins when compared to Bybit’s spot exchange, traders still have over 100 to choose from. Bybit is also a good option if you’re interested in crypto leverage products.

It supports USDC and USDT-backed perpetuals with leverage of up to 200x. This amplifies a $100 balance to $20,000. It also offers inverse and delivery futures, not to mention copy trading, options, and pre-market perpetuals. The latter enables traders to speculate on new cryptocurrencies before they’re added to the Bybit exchange.

Pros

• One of the best crypto swap platforms for accessing high leverage
• Retail clients get leverage limits of 200x
• Trade various derivatives like futures and options
• The swap tool supports over 100 cryptocurrencies
• No fees or markups are applied to swaps

Cons

• Not suitable for inexperienced traders without risk management systems
• Fiat deposits trigger KYC requirements

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5. Binance – Best Swap Site for Available Trading Pairs and Advanced Tools     

I found that Binance is the best option for available pairs. Its conversion tool supports all trading pairs from the main Binance exchange. This means traders can instantly buy and sell hundreds of cryptocurrencies. This includes the best meme coins, such as dogwifhat, Bonk, Dogecoin, Shiba Inu, and Pepe, not to mention utility projects like Cardano, Fantom, and Algorand.

Binance doesn’t charge commissions when swapping cryptocurrencies regardless of the pair. Moreover, the minimum swap requirement is just 0.01 USDT. The maximum is 2.5 million USDT, meaning Binance is also a great choice for crypto whales. Another benefit is that Binance’s conversion tool comes with advanced features.

This includes limit orders, meaning you can specify the preferred exchange rate. Binance will automatically convert the cryptocurrencies if this price is triggered by market makers. Traders can also deploy recurring swap orders. For instance, you can swap $200 worth of USDT for Bonk hourly, daily, weekly, bi-weekly, or monthly.

Pros

• The swap tool supports all pairs from the main exchange
• A great option for swapping meme coins
• Doesn’t charge commissions on swaps
• Supports recurring and limit orders
• Also one of the best Bitcoin exchanges for liquidity

Cons

• Spreads will be higher when compared to the spot exchange
• No longer offers anonymous trading accounts

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Crypto Swapping: The Basics

Crypto swapping is a simplified way to exchange one coin for another, such as Bitcoin for Cardano or XRP for Solana. This tool is aimed at beginners who aren’t comfortable using conventional trading platforms. After all, order books, charting screens, and custom orders can be complicated for novice traders.

In contrast, crypto swapping tools require just three pieces of information from the trader:

• The coin the trader is currently holding, such as USDT
• The coin the trader wants to receive, such as Bitcoin
• The number of coins to swap, such as 500 USDT

Once the above information is entered, the best crypto swap sites provide an immediate quote. This is usually obtained from liquidity providers and it’s displayed as an exchange rate. Spreads and other fees are built into this rate. For example, suppose you want to convert 500 USDT for Bitcoin. The swap site quotes 0.00877963 BTC for that 500 USDT.

That exchange rate will be locked in for a certain time frame. This gives you enough time to review the exchange rate and confirm the order. You might also need to deposit the swap coins manually, although this depends on the platform.

Crypto Swaps vs Crypto Trading

Crypto swap tools aren’t designed for active traders, especially those day trading or scalping. On the contrary, these traders often use traditional spot or derivative exchanges. These offer a wide range of trading tools, such as charting screens, indicators, and deep order books. What’s more, traditional exchanges provide more control over pricing. This is because experienced traders use limit orders, allowing them to set the price when their positions are executed.

Crypto swap tools serve a different purpose. They’re aimed at beginners who want to convert one coin for another in the simplest way possible.

Swap tools rarely come with analysis tools or real-time order books, meaning they’re not suited for advanced strategies.  In addition, crypto swaps aren’t as cost-effective when compared to traditional trading. While many providers offer a commission-free experience, the fees are actually built into the quoted exchange rate.

This isn’t the case when using a spot or derivative exchange. Sure, traders pay a trading commission when entering and exiting positions. But traders get the best price possible, even with a small fee added.

I also found that traditional exchanges offer considerably more markets when compared to swap tools, not only in terms of cryptocurrencies but trading instruments, such as perpetual and delivery futures, options, and leveraged tokens. Ultimately, crypto swaps can be a good option if you prioritize speed and convenience. But if you’re looking to make consistent gains from the markets, consider using a traditional exchange.

Best Practices When Choosing a Crypto Swap Site

We’ve established that traders have many crypto swap sites to choose from. But how do you select the best option? Discussed below are the most important factors to cross-check, including available coins, speed, fees, and more.

Available Swap Coins

You presumably already know which coins you want to swap. Ensure the chosen platform supports these coins, and any other markets you’re interested in.

The best crypto swapping sites offer ample choice, from large caps and speculative meme coins to utility projects. The more supported crypto assets the better.

Exchange Rate Competitiveness

I mentioned that most crypto swap sites offer ‘fee-free’ conversions. However, this typically means fees are built into the exchange rate. This is almost certain to be above the spot price, meaning you’re paying more than what’s available on traditional exchanges.

The difficulty is knowing whether or not you’re being quoted a competitive price. Suppose you’re swapping 300 ADA for SOL. You’d need to assess the ADA/USD and SOL/USD prices. And then compare the two rates accordingly.

For example, in the above image, you’ll see that 300 ADA gets about 0.738 SOL. However, the image below, taken from another swap site at the same time, is quoting just 0.721 SOL for that 300 ADA.

As such, it’s crucial to evaluate prices and exchange rates when choosing a crypto swap site. Never assume you’re getting a good price just because the provider offers fee-free waps.

Minimums, Limits, and Time Frames

The best crypto swap sites are aimed at beginners, so ensure suitable minimums are in place. Traders can often swap just $1 worth of crypto, but this will vary depending on the platform. The maximum swap limit should also be considered.

Binance, for example, allows users to swap up to $2.5 million per trade. It’s also wise to explore the average swap time. I prefer sites offering instant executions, meaning the swapped tokens will arrive in your wallet in seconds.

The Swap Procedure

Traders should also explore the swap procedure when choosing a suitable platform.

Here’s an overview of the main options:

• Account Deposit: Some crypto swap platforms require users to open an exchange account and manually deposit coins. Once the account is funded, those coins can be swapped.
• Connect a Wallet: Some platforms allow users to connect a self-custody wallet. The crypto swap will be executed via a smart contract. This system is typically offered by decentralized exchanges.
• Internal Wallet Swap: It’s also possible to swap tokens directly from a crypto wallet. Exodus is a good option here. The cryptocurrencies are instantly converted and added to the Exodus balance.
• Manual Transfer: Another option is manual transfers. The original coins should be transferred to the unique wallet address provided by the site. The newly purchased coins will then be transferred to the trader’s wallet address. This is provided when creating the swap order.

Each process has advantages and drawbacks. Consider which option is best for your experience level and trading goals.

Additional Crypto Products

I also prioritized crypto swap sites offering additional products. This enables traders to access the broader crypto ecosystem. For example, OKX is a great option for investing in DeFi. Its Web 3.0 platform supports hundreds of staking and liquidity farming pools. This enables traders to earn passive income on their crypto holdings.

Another popular option is Margex, especially if you’re interested in trading cryptocurrencies with leverage. It offers 100x leverage on Bitcoin and Ethereum futures. Other markets come with leverage of 25x to 50x. You might consider Exodus if you want to combine swap tools with a secure crypto wallet. Swaps are executed directly from the Exodus balance.

Tips on Earning Yields When Swapping Crypto

I mentioned that swapping tools aren’t the best option when actively trading the crypto markets. However, they can be useful when earning yields from certain DeFi products.

• For example, let’s say you’re currently holding 1 ETH.
• You’re interested in liquidity farming. This DeFi tool allows users to provide liquidity to decentralized exchanges.
• Yields are earned whenever that liquidity pool is used by other traders.
• Liquidity farming requires an equal amount of two cryptocurrencies, which creates a trading pair.
• You notice that the ETH/USDC pair is currently paying yields of 6%. However, while you currently hold ETH, you also need some USDC to fund the liquidity pool.
• The easiest and fastest way to get USDC is by using a swap tool. You swap 0.5 ETH, which gets you about 1,100 USDC
• You then deposit 0.5 ETH and 1,100 USDC into the pool and begin earning yields of 6%.

Without a swapping tool, you’d need to swap ETH for USDC on a spot trading exchange. Or, purchase USDC with fiat money.

A similar process can be used when investing in staking pools. For example, suppose you’re currently staking SOL at a 5.5% APY. However, AVAX staking pools are paying 12.5%. Therefore, you swap SOL for AVAX and start earning much higher yields.

Crypto swaps are also ideal when investing in different chains.

• For instance, suppose you want to invest in the best Base meme coins. This requires ETH on the Base standard.
• However, you currently hold ETH on the main Ethereum network.
• Ordinarily, you’d need to ‘bridge’ ETH from Ethereum to Base, which can be complicated for newbies.
• Instead, you can instantly convert ETH (Ethereum) for ETH (Base) via a swap tool, and proceed to invest in your preferred meme coins.

Walkthrough on How to Swap Cryptocurrencies 

I’ll now show you how easy and fast it is to swap cryptocurrencies.

Follow the steps below to complete the process in under five minutes.

Step 1: Download the Exodus Wallet

Not only is Exodus the best place to swap cryptocurrencies but it’s also the top self-custody wallet. This means you can store and swap thousands of coins in one safe place, rather than using a third-party platform.

So, visit Exodus, click the ‘Download’ button, and choose the preferred device type. Options include a mobile app, desktop software, or browser extension. Open Exodus and follow the on-screen screen instructions to set the wallet up.

Step 2: Transfer Coins to Exodus

Exodus swaps are only possible if you already have coins. You can easily transfer coins from another wallet or exchange. Click the coin you want to deposit. Then click ‘Receive’ to generate a unique wallet address. This is the address to transfer the coins to.

Exodus also offers a ‘Buy’ feature if you don’t own any coins. This supports fiat currencies like USD and EUR, including convenient payment types like credit cards and e-wallets. Fees will depend on the partnered on-ramp provider, and KYC will be needed. KYC isn’t required when making a crypto deposit.

Step 3: Swaps Coins on Exodus

You can swap coins as soon as the Exodus wallet is funded. Click the “Swap’ button (two arrows on the mobile app) and complete the conversion form. This requires the cryptocurrencies to be swapped and the amount.

In my example above, I’m swapping 0.02 BTC for 181.7972 UNI. This means I’m doing a cross-chain swap (BTC on Bitcoin / UNI on Ethereum) without needing an exchange. The real-time rate is quoted automatically based on external liquidity providers.

Just confirm the swap and the cryptocurrencies will be converted instantly. You should then find the purchased coins in your Exodus wallet balance.

Conclusion

Crypto swaps are simple, fast, and convenient. No prior experience is needed, making them ideal for novice traders who simply want to convert one coin for another.

While many options exist, I rate Exodus as the best option. This self-custody wallet allows users to swap thousands of cryptocurrencies at competitive prices. Swaps are executed within the wallet interface, meaning the process is seamless.

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FAQs

What is the best wallet for swapping crypto?

Exodus is the best wallet for swapping crypto. Its swapping tool supports 50 blockchain standards and thousands of cryptocurrencies.

What is the easiest way to swap crypto?

While not the cheapest method, the easiest way to convert crypto is via a swap tool. These offer real-time swaps without using spot exchanges or order books.

Is swapping on MetaMask safe?

Yes, MetaMask swaps are safe. However, fees are significantly higher than other swap sites and wallets.

Can you swap crypto for free?

Many swap providers, including Exodus, Margex, and OKX, offer fee-free conversions. However, spreads will be included in the exchange rate, so always check the quoted price.

Is swapping crypto safe?

Yes, crypto swaps are safe, but ensure you’re using an established and reputable platform. Exodus and Margex are good options.

How long do crypto swaps take?

Crypto swap times depend on the platform, although they’re typically instant. Longer time frames can occur when performing cross-chain swaps.

Can you swap Bitcoin for Ethereum?

Yes, there are several ways to swap Bitcoin for Ethereum, even though they operate on different blockchains. Consider an instant swap tool like Exodus or trade the ETH/BTC pair on exchanges.

Do I need Ethereum to swap USDT?

If USDT is held in a private wallet, then you will need Ethereum to transfer USDT out. However, if USDT is in an exchange like Margex, no Ethereum is needed.

References

1. ‘Liquid staking’ is one pocket of crypto seeing big growth this year. Here’s what investors need to know (CNBC)
2. What is DeFi? (Fidelity)
3. Meme coins: Fad or future? (Swyftx)
4. What Are Perpetual Futures? (CoinMarketCap)