Comparison of Probit vs Switchere [ 2024 ]

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

Your expert: Alejandro Borja

probit

Probit

  • Threenvest valuation: 4,3/5
  • US legal: Yes
  • Security: High 4,9/5
  • 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

0,20%

Earns

No

Customer service

3/5
only card 3.60%

Fees

No

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold

Yes
Yes

Beginners

No

Trading

No

Passive income

No

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for token holders.
3.9 – Reasonable fees with additional benefits for instant purchases.

Level

0,20%
only card 3.60%

Brief explanation

ProBit Global’s fee structure is designed to be competitive and accessible for traders of all levels. The platform employs a flat trading fee model of 0.20%, which is slightly lower than the global industry average. This uniform fee applies to both makers and takers, simplifying the trading process and making it transparent for users. Additionally, significant discounts are available for those who choose to pay their trading fees with the PROB token, ProBit Global’s native cryptocurrency. This feature not only encourages the use of PROB within the platform but also offers an economical advantage to frequent traders, enhancing their overall trading experience.
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.

Probit

probit
Read probit review
  • Security Measures: ProBit Global employs robust security protocols including cold storage for digital assets, two-factor authentication, and encryption, ensuring the safety and integrity of user data and funds.
  • High Trading Volume and Liquidity: ProBit is capable of handling up to 1.5 million transactions per second, demonstrating significant liquidity which is essential for executing trades efficiently and at competitive prices.
  • Reputation and Reviews: Since its launch, ProBit Global has built a strong reputation within the crypto community, supported by positive user feedback and a track record of reliability and user satisfaction.
  • Transparency: ProBit Global provides clear information on its fee structure, trading processes, and the use of its native token, PROB, which is used to gain discounts on trading fees, contributing to an open and transparent trading environment.
  • Customer Service: ProBit offers comprehensive customer support with a detailed FAQ section, quick response times, and support for various languages, enhancing user experience and trust.
  • Pros
  • Low trading fees with PROB token.
  • Access to numerous IEOs.
  • Diverse trading pairs available.
  • Cons
  • Limited fiat trading options.
  • No margin trading available.

Read probit review

Switchere

switchere
Read probit 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

ProBit Global Services Limited
Unknown

Regulation

Not regulated
Not regulated

Year founded

2018
2019

Founder

Hyunsu Do
Unknown

Payment methods

Transfers

No
Yes

Mastercard

Yes
Yes

Wire transfer

No
No

Card

Yes
Yes

Comparative table

Probit FEATURES Switchere
ProBit supports low minimum trade amounts, making it accessible for beginners to start trading without requiring significant initial investments.
Minimum Trade
Switchere offers a low minimum trade amount, making it accessible for beginners or those looking to experiment with small transactions.
ProBit Global offers competitive trading fees that are below the industry average, enhanced by discounts for using the PROB token.
Trading and Transaction Fees
The fees are relatively high compared to industry standards, which might deter frequent traders or those dealing in larger volumes.
With over 500 cryptocurrencies available, ProBit Global provides one of the most extensive selections, catering to traders looking for variety and niche 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 supports over 300 trading pairs, offering significant flexibility for trading strategies across a broad range of cryptocurrencies.
Crypto-to-Crypto Trading Pairs
Offers basic trading pairs; however, it lacks the variety provided by larger exchanges, limiting strategic trading options.
ProBit is generally transparent about its fees and operations, though some users may seek more detailed information on certain operational aspects.
Website Transparency
The website clearly outlines fees, processes, and security measures, providing users with the information they need to make informed decisions.
ProBit does not offer an exchange card for in-store purchases.
Credit/Debit Card
Switchere focuses on direct cryptocurrency purchases with fiat and does not provide additional financial tools like a branded exchange card.
ProBit provides secure storage options, including cold storage, although it doesn’t offer as diverse an array of wallet services as some larger platforms.
Storage Offering
Offers secure storage solutions, though it might lack some advanced security features available on more specialized platforms.
The platform offers staking options and various rewards through the use of its PROB token, giving users additional ways to earn from their holdings.
Staking and Rewards
Limited options for staking and rewards, which could be expanded to encourage longer-term investments and user retention.
ProBit offers a functional mobile app and a user-friendly desktop platform, though some users might find the features somewhat basic compared to more advanced trading platforms.
Mobile App and Desktop
Both mobile and desktop platforms are user-friendly and reliable, though they may lack some functionalities expected by advanced users.
Customer service is available and generally responsive, but feedback indicates that there is room for improvement in terms of speed and the breadth of support options.
Customer Service
Generally responsive and helpful, but some users may experience delays during peak times.
Deposits and withdrawals are supported efficiently on ProBit, but the options for fiat transactions are limited, and the structure for withdrawal fees can be complex.
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 4,9/5
High 4/5

Additional features

Margin trading, staking, Probit Earn, Probit token (PROB) rewards
Instant crypto purchases, staking, Switchere wallet, educational resources

Anonymity

Yes
No

Key points

Available cryptocurrencies

500+
10+

User-friendliness

Probit features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.
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 reasonable value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.
Provides decent value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.

Countries of operation

South Korea, United States, Canada, United Kingdom, Australia
Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

Best for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.
Ideal for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

KRW, USD, BTC
EUR, USD, BTC

Account

Trading

ProBit offers a wide range of cryptocurrencies and competitive fees. It provides advanced trading tools but has lower liquidity compared to larger 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

ProBit offers multiple deposit and withdrawal methods, including bank transfers and cryptocurrencies. Withdrawals are processed quickly, 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

ProBit provides an easy and fast account opening process. Users need to provide 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?

Yes
Yes

Customer Service

ProBit provides support through email and live chat. The support team is responsive and available 24/7, making it convenient for users needing immediate help.
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

ProBit offers comprehensive security measures, including 2FA and cold storage. However, it lacks regulation from major financial authorities, which might 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 here at our website, I highly recommend ProBit Global for its impressive array of over 500 cryptocurrencies and more than 300 trading pairs. This diversity makes it an excellent platform for both new and seasoned traders looking to explore various investment opportunities. Moreover, its competitive trading fees, especially when using the PROB token, make it an economically smart choice. Whether you’re beginning your crypto journey or seeking new trading strategies, ProBit Global’s user-friendly and efficient platform stands out as a strong candidate in the crowded field of crypto exchanges.
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 Probit

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 Probit and Switchere