Comparison of Mudrex vs Switchere [ 2024 ]

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

Your expert: Alejandro Borja

mudrex

Mudrex

  • 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%

Earns

No

Customer service

3/5
only card 3.60%

Fees

No

Earns

3/5

Customer service


Recommended for

Beginners

No

Trading

No

Passive income

No

Buy and hold

Yes
Yes

Beginners

No

Trading

No

Passive income

No

Buy and hold


Comparison of fees

Rating

3.9 – Reasonable fees with additional benefits for automated trading.
3.9 – Reasonable fees with additional benefits for instant purchases.

Level

0,25%
only card 3.60%

Brief explanation

Mudrex does not charge any trading fees for its automated trading bot services, which is a significant advantage for users looking to maximize their profits without worrying about the cost of each transaction. This fee structure is particularly beneficial for both high-frequency traders and those new to the crypto markets, as it allows them to experiment with different strategies without the burden of additional costs. The absence of trading fees makes Mudrex an attractive platform for users seeking to optimize their trading efficiency and profitability in the cryptocurrency market.
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.

Mudrex

mudrex
Read Mudrex review
  • Security methods: Mudrex places a high priority on security with robust measures to protect user funds and data. This includes using encryption for data protection and storing the majority of user funds in cold storage to reduce the risk of hacking.
  • Reputation and Reviews: Mudrex has garnered positive feedback from users for its innovative platform and customer service. Its unique approach to automated trading through bots has been particularly well-received, contributing to its strong reputation in the crypto community.
  • Transparency: The platform operates on a 'no profit, no fee' basis, which ensures that they only profit when their users do. This policy promotes transparency and aligns the interests of the platform with those of its users.
  • Customer service: Mudrex offers dedicated customer support that assists users with their queries and concerns promptly. This reliable customer service enhances user trust and satisfaction.
  • Innovative investment solutions: The use of algorithmic trading bots allows users to automate their trading strategies, making sophisticated trading accessible to novices and reducing the barrier to entry in the complex world of cryptocurrency trading.
  • Pros
  • User-friendly platform
  • Supports algorithmic strategies
  • Ideal for passive investors
  • Cons
  • Limited direct trading tools
  • Primarily for passive trading

Read Mudrex review

Switchere

switchere
Read Mudrex 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

No
No

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Mudrex Inc
Unknown

Regulation

Not regulated
Not regulated

Year founded

2019
2019

Founder

Edul Patel
Unknown

Payment methods

Transfers

No
Yes

Mastercard

No
Yes

Wire transfer

No
No

Card

No
Yes

Comparative table

Mudrex FEATURES Switchere
Mudrex allows users to start with relatively small amounts, making it accessible for beginners.
Minimum Trade
Switchere offers a low minimum trade amount, making it accessible for beginners or those looking to experiment with small transactions.
One of Mudrex’s significant advantages is its no trading fee policy on automated bot strategies, which is highly cost-effective.
Trading and Transaction Fees
The fees are relatively high compared to industry standards, which might deter frequent traders or those dealing in larger volumes.
While Mudrex supports popular cryptocurrencies, its range is less extensive compared to larger exchanges.
Number of Cryptocurrencies
Switchere supports a limited but essential selection of cryptocurrencies, suitable for those new to crypto but restrictive for diverse portfolios.
Mudrex focuses more on trading strategies than on offering a vast number of trading pairs.
Crypto-to-Crypto Trading Pairs
Offers basic trading pairs; however, it lacks the variety provided by larger exchanges, limiting strategic trading options.
Mudrex provides clear information about its trading strategies and results, but could improve transparency regarding its operational aspects.
Website Transparency
The website clearly outlines fees, processes, and security measures, providing users with the information they need to make informed decisions.
Mudrex does not currently offer a debit or credit card for customers to use in their day-to-day transactions or at their shops.
Credit/Debit Card
Switchere focuses on direct cryptocurrency purchases with fiat and does not provide additional financial tools like a branded exchange card.
Mudrex offers secure storage options, with a majority of assets held in cold storage ensuring high security.
Storage Offering
Offers secure storage solutions, though it might lack some advanced security features available on more specialized platforms.
Offers competitive staking opportunities and rewards, though these might be linked to specific conditions and availability.
Staking and Rewards
Limited options for staking and rewards, which could be expanded to encourage longer-term investments and user retention.
The Mudrex platform is accessible via desktop and has a functional mobile interface, although it may lack some features available on the desktop version.
Mobile App and Desktop
Both mobile and desktop platforms are user-friendly and reliable, though they may lack some functionalities expected by advanced users.
Generally responsive and helpful, but there could be improvements in wait times and support hours.
Customer Service
Generally responsive and helpful, but some users may experience delays during peak times.
Deposits are straightforward, but the platform currently lacks support for direct debit/credit card deposits, and withdrawal options could be more diverse.
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

Automated trading bots
No significant tools, mainly a buying platform

Mobile APP

No
No

Security

High 4,6/5
High 4/5

Additional features

Automated trading strategies, staking, Mudrex Coin Sets
Instant crypto purchases, staking, Switchere wallet, educational resources

Anonymity

Yes
No

Key points

Available cryptocurrencies

Platform for crypto algorithms, not direct trading
10+

User-friendliness

Mudrex offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth 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

Provides good value for money with competitive fees and automated trading strategies, making it an attractive option for new and experienced traders.
Provides decent value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.

Countries of operation

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

Best for

Ideal for traders interested in automated trading strategies and competitive fees.
Ideal for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

Platform for crypto investments, not direct trading
EUR, USD, BTC

Account

Trading

Mudrex focuses on automated trading strategies, allowing users to invest in pre-built algorithms. It offers a unique feature but has a smaller selection of cryptocurrencies compared to leading exchanges.
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

Mudrex focuses on automated trading strategies and supports various deposit and withdrawal 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

Mudrex offers a seamless and fully digital account opening process. Users need to provide personal information and verify their identity. The process is quick and typically 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

Mudrex 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.
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

Mudrex provides strong security with 2FA and encryption. Despite its robust security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some 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 one of the experts on our website, I would recommend Mudrex for anyone interested in cryptocurrency trading, especially if you’re looking to leverage the power of automated trading bots. Mudrex simplifies the process by providing a platform where even those with minimal trading experience can participate effectively. The user-friendly interface and the “no profit, no fee” model make it an appealing choice for both beginners and seasoned traders. Whether you’re looking to actively manage your investments or prefer a more hands-off approach, Mudrex offers tools that can help you achieve your financial goals in the crypto space.
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 Mudrex

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 Mudrex and Switchere