Comparison of Paribu vs Switchere [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Paribu vs Switchere comparison!

Your expert: Alejandro Borja

paribu

Paribu

  • Threenvest valuation: 3,7/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

switchere

Switchere

  • Threenvest valuation: 3/5
  • US legal: Yes
  • Security: High 4/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Main points

Fees

0,25%/0,35%

Earns

Yes

Customer service

4/5
only card 3.60%

Fees

No

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

No

Passive income

Yes

Buy and hold

Yes
Yes

Beginners

No

Trading

No

Passive income

No

Buy and hold


Comparison of fees

Rating

3.8 – Competitive fees with strong local support in Turkey.
3.9 – Reasonable fees with additional benefits for instant purchases.

Level

0,25%/0,35%
only card 3.60%

Brief explanation

Paribu charges a trading fee structure that is slightly above the industry average, consisting of 0.35% for takers and 0.25% for makers. These fees can be reduced based on trading volume, providing an incentive for active traders. This tiered fee system aligns well with traders who maintain high monthly trade volumes, as they can benefit from reduced costs, lowering the fees to as much as 0.15% for both makers and takers under certain conditions. This approach encourages more trading activity while also supporting both casual and serious traders in managing their trading expenses effectively.
Switchere’s fee structure is designed with simplicity in mind, catering to users who value straightforward transactions. The exchange primarily charges a fee on the conversion of fiat to crypto, and this fee is transparently incorporated into the exchange rate displayed at the time of purchase. The typical transaction fee ranges from 1% to 2%, depending on the payment method and the specific currencies involved. This simplicity allows users, especially beginners, to easily understand the costs associated with their transactions without worrying about additional hidden charges.

Paribu

paribu
Read paribu review
  • Year Founded: Established in 2017, Paribu has been active for several years, allowing it to develop and refine its security and service offerings.
  • Number of Users: With over a million active users, Paribu has a significant user base, which underscores its popularity and reliability in the Turkish market.
  • Security Methods: Paribu prioritizes the security of its users with robust protection measures and has no history of significant security breaches, contributing to its trustworthy reputation.
  • Regulation: It operates under Turkish financial regulations, ensuring compliance with local laws which provides a layer of security and trust for its users.
  • Customer Service: Offering 24/7 customer support in Turkish, Paribu ensures that its users have access to help whenever needed, enhancing user satisfaction and trust in the platform.
  • Pros
  • User-friendly interface
  • 24/7 trading availability
  • Secure transactions
  • Cons
  • Limited global reach
  • No advanced trading tools

Read paribu review

Switchere

switchere
Read paribu review
  • Year Founded: Switchere was established under Estonia's progressive and stringent regulatory framework, enhancing its credibility as a trustworthy platform.
  • Security Methods: Adhering to rigorous security protocols required by Estonian law, Switchere ensures that user data and funds are protected through advanced security measures, including SSL encryption and compliance with AML (Anti-Money Laundering) policies.
  • Reputation and Reviews: Switchere has built a positive reputation among its users for its ease of use and reliable customer service. This is reflected in consistently good reviews across various consumer feedback platforms.
  • Transparency: The platform maintains high transparency in transaction fees and exchange rates. It discloses all costs upfront, ensuring users are not met with unexpected charges.
  • Customer Service: Switchere offers robust support with quick response times, providing users with a dependable resource for resolving issues and inquiries, which is essential for new entrants in the crypto market.
  • Pros
  • Easy for beginners
  • No registration for small buys
  • Instant card purchases
  • Cons
  • Limited cryptocurrency options
  • Higher transaction fees

Comparison sponsored by the best exchange

eToro

eToro Special Offer*

Earn up to 4.90% APY on uninvested cash with eToro USA.

Account Minimum

Get started with just $50.

And 1% fee on all cryptocurrency trades.

Read our eToro review here
etoro logotipo
Go to eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

Product selection

Native token

No
No

Earns

Yes
No

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Unknown
Unknown

Regulation

Not regulated
Not regulated

Year founded

2017
2019

Founder

Yasin Oral
Unknown

Payment methods

Transfers

Yes
Yes

Mastercard

Yes
Yes

Wire transfer

Yes
No

Card

Yes
Yes

Comparative table

Paribu FEATURES Switchere
Paribu allows trading with very low minimum thresholds, making it accessible for beginners and those with limited capital.
Minimum Trade
Switchere offers a low minimum trade amount, making it accessible for beginners or those looking to experiment with small transactions.
Paribu’s fees are slightly above average, but it offers reductions for higher volume traders, balancing cost with trading activity.
Trading and Transaction Fees
The fees are relatively high compared to industry standards, which might deter frequent traders or those dealing in larger volumes.
Paribu offers a moderate variety of cryptocurrencies, primarily focusing on major ones, which might limit options for those looking to trade less common coins.
Number of Cryptocurrencies
Switchere supports a limited but essential selection of cryptocurrencies, suitable for those new to crypto but restrictive for diverse portfolios.
The platform has limited crypto-to-crypto pairs, focusing mainly on fiat to crypto transactions, which could be a downside for versatile traders.
Crypto-to-Crypto Trading Pairs
Offers basic trading pairs; however, it lacks the variety provided by larger exchanges, limiting strategic trading options.
The website provides clear information about trading conditions and fees, though some details about governance and operations could be more comprehensive.
Website Transparency
The website clearly outlines fees, processes, and security measures, providing users with the information they need to make informed decisions.
As Paribu focuses primarily on cryptocurrency trading within the Turkish market, the absence of an exchange card limits the utility and flexibility for users seeking integrated financial services like spending crypto directly for purchases or earning rewards. This could be an area for potential development to enhance user engagement and overall platform utility.
Credit/Debit Card
Switchere focuses on direct cryptocurrency purchases with fiat and does not provide additional financial tools like a branded exchange card.
Offers secure storage solutions, but lacks some advanced security features like multi-sig wallets or insurance on assets.
Storage Offering
Offers secure storage solutions, though it might lack some advanced security features available on more specialized platforms.
Limited staking options are available, which might not cater to users looking to earn through staking or participation in network security.
Staking and Rewards
Limited options for staking and rewards, which could be expanded to encourage longer-term investments and user retention.
Both mobile and desktop platforms are user-friendly and well-designed, offering good usability but lacking some advanced trading tools.
Mobile App and Desktop
Both mobile and desktop platforms are user-friendly and reliable, though they may lack some functionalities expected by advanced users.
Excellent customer service with 24/7 availability and multiple support channels, including direct responses.
Customer Service
Generally responsive and helpful, but some users may experience delays during peak times.
Offers multiple deposit and withdrawal methods but can improve by adding more international options and reducing fees for certain transactions.
Deposit and Withdraw
The process is straightforward, but the high fees for some operations and limited methods for withdrawal can be a drawback.

Key features

Analysis tools

Basic charting tools
No significant tools, mainly a buying platform

Mobile APP

No
No

Security

High 4,6/5
High 4/5

Additional features

Staking, fiat on/off ramps, Paribu Earn, educational resources
Instant crypto purchases, staking, Switchere wallet, educational resources

Anonymity

No
No

Key points

Available cryptocurrencies

50+
10+

User-friendliness

Paribu features a user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience with all necessary features easily accessible.
Switchere provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Value for money

Offers good value for money with competitive fees and strong local support in Turkey, making it a good choice for regional users.
Provides decent value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.

Countries of operation

Turkey
Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

Suitable for Turkish investors looking for a reliable platform with competitive fees and strong local support.
Ideal for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

TRY, BTC
EUR, USD, BTC

Account

Trading

Paribu is a popular exchange in Turkey, offering a good selection of cryptocurrencies and easy fiat integration. It has competitive fees but lacks some advanced trading tools.
Switchere provides a secure platform with easy fiat integration and a decent range of cryptocurrencies. It offers competitive fees but lacks advanced trading tools.

Deposit and withdrawal

Paribu is popular in Turkey, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.
Switchere supports various deposit and withdrawal methods, including bank transfers and cryptocurrencies. Withdrawals are processed efficiently, with low fees.

Account opening process

Paribu provides a seamless account registration process. Users need to fill out personal details and verify their identity. The process is fully digital and usually completed within a day.
Switchere offers a straightforward and user-friendly account registration process. Users need to provide personal information and verify their identity. The process is efficient and typically takes less than a day to complete.

KYC required?

No
Yes

Customer Service

Paribu provides support through email and live chat. The response time is quick, and the support team is available 24/7, making it reliable for users in Turkey.
Switchere offers customer support via email and live chat. The response time is quick, but the support team is not available 24/7, which may be a drawback for some users.

Security

Paribu ensures security through 2FA, encryption, and cold storage. It is regulated by Turkish authorities, providing a secure environment for investors.
Switchere employs robust security features, including 2FA and encryption. However, it is not regulated by major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As a seasoned analyst observing the dynamics of cryptocurrency exchanges, I find Paribu particularly noteworthy for investors who prioritize ease of use and are based in Turkey. The exchange’s robust local currency support and user-centric approach make it an appealing platform for beginners. It’s ideal for those seeking to enter the crypto market with a straightforward and secure trading environment. If you are navigating the complex world of cryptocurrencies for the first time, Paribu’s tailored features and strong customer support structure provide a comforting starting point.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As a cryptocurrency expert reviewing various platforms, I find Switchere to be a notably accessible exchange for newcomers to the cryptocurrency market. The platform’s straightforward design eliminates the usual complexities associated with crypto transactions, making it exceptionally user-friendly. For anyone looking to start their journey into cryptocurrencies with minimal hassle, Switchere’s ability to process direct purchases through credit and debit cards offers a significant convenience. However, while it’s ideal for beginners due to its simplicity, more experienced traders might find the limited selection of cryptocurrencies and higher transaction fees a bit restrictive. Therefore, I recommend Switchere for those new to the space or for casual users not looking to engage in more complex trading activities.

View all comparisons against Paribu

View all comparisons against Switchere

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

More comparatives Paribu and Switchere