Comparison of Altcoin Trader vs Switchere [ 2024 ]

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

Your expert: Alejandro Borja

ascendex

Altcoin Trader

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

0,10%

Earns

Yes

Customer service

4/5
only card 3.60%

Fees

No

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes
Yes

Beginners

No

Trading

No

Passive income

No

Buy and hold


Comparison of fees

Rating

3.5 – Competitive fees within South Africa but higher for international transactions.
3.9 – Reasonable fees with additional benefits for instant purchases.

Level

0,10%
only card 3.60%

Brief explanation

AscendEX maintains a competitive and transparent fee structure, which is essential for both casual and serious traders. The platform typically charges a flat fee for both makers and takers, simplifying calculations for users. These fees are generally aligned with industry standards, ensuring that traders can engage in frequent trading activities without excessive costs. Additionally, AscendEX may offer tiered discounts based on the user’s monthly trading volume, which incentivizes higher trading activity with lower fees. For users looking to minimize costs while maximizing trading opportunities, AscendEX’s fee structure is designed to support a wide range of trading strategies and volumes, making it a compelling choice for those who value straightforward and equitable financial dealings in their trading platform.
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.

Altcoin Trader

ascendex
Read altcoin trader review
  • Security Methods: AscendEX employs a comprehensive array of security measures including SSL encryption, two-factor authentication, and cold storage of assets. These rigorous security protocols ensure that users’ data and funds are protected against unauthorized access and cyber threats, fostering a secure trading environment.
  • Reputation and Reviews: Since its inception in 2018, AscendEX has built a solid reputation within the cryptocurrency community. User reviews often highlight the platform's reliability, wide range of services, and user-friendly interface, underscoring its standing as a reputable exchange in the crypto market.
  • Trading Volume and Liquidity: AscendEX supports a high trading volume and liquidity, which is crucial for traders looking to execute large trades without significantly affecting the market price. This high liquidity not only facilitates better price discovery but also enables efficient entry and exit from positions.
  • Customer Service: AscendEX is known for its robust customer support, offering quick and helpful responses to user inquiries and issues. This commitment to excellent customer service enhances user experience and trust, particularly for new traders who may need assistance navigating the platform.
  • Withdrawal and Deposit Policies: The platform’s policies on withdrawals and deposits are clear, secure, and user-centric, ensuring a smooth process for moving funds into and out of the exchange. AscendEX’s efficient handling of these critical operations reinforces its reliability and the trust users place in it.
  • Pros
  • Broad selection of trading options.
  • Supports spot, margin, and futures trading.
  • Staking options available for earnings.
  • Cons
  • Interface may overwhelm new users.
  • No detailed insurance policy transparency.

Read altcoin trader review

Switchere

switchere
Read altcoin trader 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

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Product selection

Native token

No
No

Earns

Yes
No

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Altcoin Trader (Pty) Ltd.
Unknown

Regulation

Not regulated
Not regulated

Year founded

2014
2019

Founder

Richard de Sousa
Unknown

Payment methods

Transfers

Yes
Yes

Mastercard

No
Yes

Wire transfer

Yes
No

Card

No
Yes

Comparative table

Altcoin Trader FEATURES Switchere
AscendEX allows small minimum trades, making it accessible for users with smaller capital.
Minimum Trade
Switchere offers a low minimum trade amount, making it accessible for beginners or those looking to experiment with small transactions.
Competitive fees, especially favorable for high-volume traders with further discounts available.
Trading and Transaction Fees
The fees are relatively high compared to industry standards, which might deter frequent traders or those dealing in larger volumes.
Offers a broad range of over 100 cryptocurrencies, catering to diverse trader demands.
Number of Cryptocurrencies
Switchere supports a limited but essential selection of cryptocurrencies, suitable for those new to crypto but restrictive for diverse portfolios.
Features an extensive array of trading pairs, facilitating varied and flexible trading strategies.
Crypto-to-Crypto Trading Pairs
Offers basic trading pairs; however, it lacks the variety provided by larger exchanges, limiting strategic trading options.
Generally transparent about fees and terms, though some details on security could be clearer.
Website Transparency
The website clearly outlines fees, processes, and security measures, providing users with the information they need to make informed decisions.
AscendEX lacks an exchange card feature, which could enhance the usability of cryptocurrencies for everyday transactions and offer additional benefits to its users.
Credit/Debit Card
Switchere focuses on direct cryptocurrency purchases with fiat and does not provide additional financial tools like a branded exchange card.
Provides secure storage options with cold storage and multi-factor authentication.
Storage Offering
Offers secure storage solutions, though it might lack some advanced security features available on more specialized platforms.
Offers competitive staking rewards and various incentives for participation in trading activities.
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 well-designed, offering full functionality and ease of use.
Mobile App and Desktop
Both mobile and desktop platforms are user-friendly and reliable, though they may lack some functionalities expected by advanced users.
Robust customer support with responsive service via multiple channels.
Customer Service
Generally responsive and helpful, but some users may experience delays during peak times.
Efficient deposit and withdrawal processes are in place, although adding more fiat options could improve accessibility and convenience.
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 4,5/5
High 4/5

Additional features

Instant EFT payments, savings wallets, recurring buy orders, OTC trading
Instant crypto purchases, staking, Switchere wallet, educational resources

Anonymity

No
No

Key points

Available cryptocurrencies

20+
10+

User-friendliness

Altcoin Trader is known for its simple and user-friendly interface, which makes it accessible for new traders. The platform focuses on ease of use, ensuring that buying and selling cryptocurrencies is straightforward.
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

Delivers decent value for money, especially for South African users, with competitive fees and easy access to local banking options.
Provides decent value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.

Countries of operation

South Africa, Namibia, Botswana, Zimbabwe, Lesotho
Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

Best for South African investors looking for easy access to local banking options and competitive fees, making it ideal for regional users.
Ideal for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

ZAR, BTC
EUR, USD, BTC

Account

Trading

Altcoin Trader is ideal for users looking to trade a variety of altcoins. The platform is easy to navigate, but its fee structure is slightly higher than average. Additionally, the platform’s customer support could use improvement.
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

Altcoin Trader provides bank transfer and cryptocurrency deposit options. Withdrawals are usually processed within 24 hours. Fees are relatively low, making it accessible for beginners.
Switchere supports various deposit and withdrawal methods, including bank transfers and cryptocurrencies. Withdrawals are processed efficiently, with low fees.

Account opening process

Altcoin Trader has a simple account registration process. It requires basic personal information, proof of identity, and address verification. The process is quick, usually taking less than a day, making it accessible for new users.
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

Altcoin Trader provides support through email and live chat. The support team is responsive and helpful, but the lack of 24/7 availability can be a downside for users needing immediate assistance.
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

Altcoin Trader employs standard security measures like 2FA and encryption. It lacks regulation from major financial bodies, which could be a concern for some investors regarding the safety of their funds.
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 an expert reviewer on our website, I highly recommend AscendEX for both new and experienced traders looking for a comprehensive crypto trading platform. Its robust security measures, extensive range of cryptocurrencies, and competitive trading fees make it a reliable choice. The platform’s user-friendly interface, coupled with excellent customer support, ensures a smooth trading experience, making it well-suited for anyone looking to delve into the crypto market.
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.

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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 Altcoin Trader and Switchere