The 5 Best Crypto Swap Platforms To Quickly Convert Your Crypto

Any investor needs to be able to quickly and conveniently swap between cryptos, but what are the best crypto swap platforms?

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Key Takeaways:

• The overall best crypto swap platform is Bybit Convert, which supports a wide range of assets and has zero trading fees. However, US and UK-based users cannot use Bybit. 
• The best crypto swap platform for you as an individual will vary based on your preferences. 
• Many crypto swap platforms that boast zero fees charge a spread fee (the difference in price between a buy and sell).

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1. Bybit Convert - Overall Best Crypto Swap Platform

Bybit is one of the most popular exchanges for spot and derivatives. The United Arab Emirates-based platform offers users many helpful features, including leverage, trading bots, and MetaTrader support. Bybit also boasts an excellent zero-fee crypto swaps service dubbed Bybit Convert.

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A significant benefit of Bybit Convert is the ability to fund your crypto swap using assets in your funding, derivatives, or spot wallets, making it convenient for traders to quickly swap when purchasing a particular pair before the price changes. Conversion thresholds vary significantly between assets. For example, USDT has a $100k maximum, while USDC boasts just $49,999

Bybit Convert is a well-designed crypto swaps platform. Being built into one of the world’s most popular exchanges, boasting no fees, and supporting hundreds of cryptos, Bybit Convert is a solid choice. However, the platform is restricted in some countries, like the US and UK. Moreover, minimum and maximum swaps are tighter compared to other platforms. 

For more details, read our detailed review of Bybit here.

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2. Binance Convert - Swaps Platform with Limit Order Support

Binance, the world’s largest exchange by volume, is a robust Cayman Islands-based platform catering to long-term investors and high-leverage day traders alike. In addition to offering margin, automated investing, and a crypto launchpad, Binance grants users access to a convenient zero-fee swaps service called Binance Convert. 

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Unfortunately, Binance has been in hot water with regulators and no longer accepts sign-ups from users in the UK, Italy, and some other regions. That said if you can still access Binance, its swaps feature is valuable. Users can exchange hundreds of cryptos, with thresholds as low as $0.01 and as high as $3 million. Users can fund swaps from their spot or funding wallets. 

Another significant advantage of Binance Convert is the ability to place limit orders. Unlike other swap platforms we’ve looked at, users can set a price target for their order to be executed, making it easy to get a good deal. While Binance is unavailable in some regions, its high thresholds and support for limit orders render it worthy of consideration. 

Read our full Binance review.

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3. Kraken Convert-  US-Based Crypto Swaps Platform

Kraken is one of the few US-based crypto exchanges. Operating since 2011, many crypto enthusiasts consider Kraken to be one of the most secure exchanges. However, security researchers recently found an exploit allowing them to withdraw $3 million fraudulently. That said, Kraken quickly fixed the bug, and users were not affected. 

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Kraken is split into a simple platform and Kraken Pro, which boasts advanced features like margin and staking. Users can access Kraken Convert on the basic version of the exchange. People can immediately swap crypto, set up a recurring swap, or create a limit order, making it convenient to enter a position over an extended period. 

Unlike platforms like Binance, Kraken is registered with regulators, including the UK’s FCA. While the Convert tool is easy to use, fees are very high, which limits its viability. Based on our testing, Kraken charges a fee of around 1.50%, meaning you’ll lose $15 for every $1000 you convert. As such, Kraken is recommended only to those seeking a US-based platform. 

More information is in our Kraken review.

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4. KuCoin Convert - Swap Service Supporting Low Cap Altcoins

KuCoin launched in 2017 and serves around 31 million users. While the platform has continually facilitated swapping/trading services, it has been at the center of much controversy. KuCoin was hacked for $275 million in 2020, and this year two of its founders were criminally charged with violating Anti-Money Laundering (AML) policy. 

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The KuCoin Convert tool boasts 114 swappable assets (including low market cap projects like Foxy), low minimum swap requirements, and high maximum limits. While the service is fee-free, KuCoin charges a variable spread fee on all swaps. KuCoin also offers a tool called Fast Trade, which enables users to purchase crypto almost instantly with a credit/debit card. 

Unfortunately, KuCoin is only available in select regions, and the exchange cannot operate in places like the European Union and Canada. That said, the ease of KuCoin and the ability to lock in prices makes it an attractive option for people seeking a convenient crypto swap platform who aren’t worried about using an unregulated exchange. 

Read our full Kucoin review.

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5. OKX - Zero Trading Fee Crypto Swaps

OKX has become a top-rated exchange regarding liquidity, customers, and available coins. The platform has been working toward compliance with regulators, registering as a Virtual Asset Service Provider (VASP), and implementing FCA-mandated rules and processes. 

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Despite OKX being home to around 329 cryptocurrencies, only 61 are supported by the OKX Convert swap tool. As such, any traders requiring a large selection will prefer an alternative like Kraken or Bybit. That said, OKX boasts no slippage, massive thresholds ($0.0001 to $2 million for USDC), and no trading fees other than a small spread of around 0.22%. 

OKX is one of the most cost-effective crypto swap platforms because it charges minimal spread fees. However, as OKX’s swap tool supports a limited number of assets, it’s only suitable for people wishing to exchange between well-known assets, like Bitcoin, Ethereum, Cosmos, and Polkadot. People looking for a platform to swap small-cap cryptos may prefer KuCoin.

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BONUS: HollaEx® - Start Your Own Crypto Swaps

For those looking to create their own crypto swap platform, HollaEx® offers the perfect solution. HollaEx® provides a white-label exchange software that allows you to run your own customizable crypto exchange, set your own coin prices, and generate income from trading fees. With HollaEx®, you can tailor your platform to your specific needs, ensuring a unique and user-friendly experience for your customers.

Whether you want to cater to specific cryptocurrencies or offer various trading options, HollaEx® gives you the flexibility to build the exchange that best suits your vision. Get started with HollaEx® today and take control of your own crypto swap platform.

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Final Verdict  

Many crypto swap platforms are available, but most suffer from high fees, a limited range of assets, or regulatory issues. As such, it is advisable to conduct your transactions using a popular exchange’s crypto swap service, as they generally have superior functionality, more modern security, and greater liquidity. 

All of the crypto swap platforms we’ve looked at are legitimate and trusted by millions of customers. That said, the best platform will differ based on your preferences. People seeking a regulated platform may enjoy Kraken, while those seeking low fees may prefer Bybit if they’re in a supported region. 

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We aim to publish factual and accurate information as of the publication date. For specific information about a cryptocurrency exchange or trading platform please visit that provider's website. This information is general in nature and is for educational purposes only. We do not provide financial advice, nor does it take into account your personal financial situation. We encourage you to seek financial advice from an independent financial advisor where appropriate and make your own inquiries.

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Launch your own online swap broker platform. Set prices, spreads, fees and customize crypto OTC deals with HollaEx® white-label today.