Comparison of Switchere vs Safetrade [ 2024 ]

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

Your expert: Alejandro Borja

switchere

Switchere

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

Investing risks losing your money

Your expert: Xavier Tarrasó

safetrade

Safetrade

  • Threenvest valuation: 2/5
  • US legal: No
  • Security: Low 2/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Main points

Fees

only card 3.60%

Earns

No

Customer service

3/5
≈ 0,10%

Fees

Yes

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

No

Passive income

No

Buy and hold

No
No

Beginners

No

Trading

Yes

Passive income

No

Buy and hold


Comparison of fees

Rating

3.9 – Reasonable fees with additional benefits for instant purchases.
3.9 – Competitive fees with additional benefits for high-volume trading.

Level

only card 3.60%
≈ 0,10%

Brief explanation

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.
SafeTrade implements a flat fee model for its trading activities, charging a uniform 0.1% fee for both makers and takers on all trades. This rate is appealingly lower than the industry average, which often hovers around 0.25%. This straightforward, low-cost fee structure makes SafeTrade an attractive option for traders looking to maximize their returns without the burden of high transaction costs. Additionally, it’s worth noting that there are no deposit fees on SafeTrade, which further reduces the cost for users to start trading. However, traders should be aware that while the trading fees are low, the lack of regulatory oversight might introduce risks that are typically mitigated on more stringently regulated platforms. Thus, while the fee structure is economically advantageous, it comes with considerations that should be carefully weighed.

Switchere

switchere
Read switchere 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

Read switchere review

Safetrade

safetrade
Read switchere review
  • Security Methods: SafeTrade emphasizes security with comprehensive measures to protect user data and funds. This focus on security helps in building trust with its users.
  • Transparency: The platform's operations are characterized by a high degree of transparency, especially concerning its integration with the SafeCoin projects and community feedback mechanisms. This openness is a critical trust factor.
  • Trading Volume and Liquidity: SafeTrade handles a significant amount of trading volume, ensuring liquidity for its users, which is essential for executing trades efficiently without substantial price slippage.
  • Customer Service: The exchange offers 24/7 customer support, which is a substantial trust factor for users, especially in a market that operates round the clock. Reliable support is crucial for resolving issues swiftly.
  • Reputation and Reviews: Since its launch, SafeTrade has maintained a positive reputation within the community, supported by favorable reviews from its users. This reputation is a testament to the platform's reliability and service quality.
  • Pros
  • Low trading fees.
  • Supports 48 cryptocurrencies.
  • Community-driven platform.
  • Cons
  • Not regulated.
  • No fiat trading options.

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Product selection

Native token

No
No

Earns

No
Yes

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Unknown
Unknown

Regulation

Not regulated
Not regulated

Year founded

2019
2018

Founder

Unknown
Unknown

Payment methods

Transfers

Yes
No

Mastercard

Yes
No

Wire transfer

No
No

Card

Yes
No

Comparative table

Switchere FEATURES Safetrade
Switchere offers a low minimum trade amount, making it accessible for beginners or those looking to experiment with small transactions.
Minimum Trade
SafeTrade allows trading in small quantities, but specifics about minimum trade sizes vary by cryptocurrency, which can be confusing for new users.
The fees are relatively high compared to industry standards, which might deter frequent traders or those dealing in larger volumes.
Trading and Transaction Fees
SafeTrade charges a flat fee of 0.1% for all trades, significantly lower than the industry average, making it very cost-effective.
Switchere supports a limited but essential selection of cryptocurrencies, suitable for those new to crypto but restrictive for diverse portfolios.
Number of Cryptocurrencies
Supports 48 cryptocurrencies, which is robust but still fewer than some of the larger exchanges that offer hundreds.
Offers basic trading pairs; however, it lacks the variety provided by larger exchanges, limiting strategic trading options.
Crypto-to-Crypto Trading Pairs
Offers a variety of trading pairs, predominantly crypto-to-crypto, which caters well to a diverse trading base but lacks fiat options.
The website clearly outlines fees, processes, and security measures, providing users with the information they need to make informed decisions.
Website Transparency
The website provides essential information, yet could improve by offering more detailed insights about liquidity and security measures.
Switchere focuses on direct cryptocurrency purchases with fiat and does not provide additional financial tools like a branded exchange card.
Credit/Debit Card
Lack of a dedicated exchange card limits the practical usability of SafeTrade’s services for everyday transactions and rewards.
Offers secure storage solutions, though it might lack some advanced security features available on more specialized platforms.
Storage Offering
Offers secure storage solutions, but lacks some advanced features like insurance or diverse wallet options.
Limited options for staking and rewards, which could be expanded to encourage longer-term investments and user retention.
Staking and Rewards
Limited information and options for staking and rewards compared to competitors who offer varied staking benefits and rewards.
Both mobile and desktop platforms are user-friendly and reliable, though they may lack some functionalities expected by advanced users.
Mobile App and Desktop
Provides functional and user-friendly mobile and desktop interfaces, though there’s room for further enhancements in usability and features.
Generally responsive and helpful, but some users may experience delays during peak times.
Customer Service
Offers 24/7 customer support with good service levels, but feedback suggests there could be improvements in response times and resolution efficiency.
The process is straightforward, but the high fees for some operations and limited methods for withdrawal can be a drawback.
Deposit and Withdraw
Deposits and withdrawals are facilitated smoothly for cryptocurrencies, yet the absence of direct fiat transactions and limited information on fees for these processes affect the rating.

Key features

Analysis tools

No significant tools, mainly a buying platform
Basic charting tools

Mobile APP

No
No

Security

High 4/5
Low 2/5

Additional features

Instant crypto purchases, staking, Switchere wallet, educational resources
Margin trading, staking, SafeTrade Earn, fiat on/off ramps

Anonymity

No
Yes

Key points

Available cryptocurrencies

10+
20+

User-friendliness

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.
SafeTrade 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.

Value for money

Provides decent 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

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

Best for

Ideal 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

EUR, USD, BTC
BTC

Account

Trading

Switchere provides a secure platform with easy fiat integration and a decent range of cryptocurrencies. It offers competitive fees but lacks advanced trading tools.
SafeTrade offers a secure platform with a decent range of cryptocurrencies. It has competitive fees but lower liquidity compared to larger exchanges.

Deposit and withdrawal

Switchere supports various deposit and withdrawal methods, including bank transfers and cryptocurrencies. Withdrawals are processed efficiently, with low fees.
SafeTrade supports various deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low fees.

Account opening process

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.
SafeTrade provides a straightforward account opening 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
No

Customer Service

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.
SafeTrade provides support through email and live chat. The support team is responsive and helpful, but the lack of 24/7 support may be a limitation for some users.

Security

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.
SafeTrade employs robust security features, including 2FA and cold storage. 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 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.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As one of the experts reviewing exchanges on our website, I find SafeTrade to be a particularly interesting choice for those venturing into the cryptocurrency market. It stands out with its low trading fees of only 0.1% across all trades, which is significantly lower than many other platforms. This feature alone makes it an attractive option for both seasoned traders and newcomers who are sensitive to cost. Furthermore, SafeTrade’s community-driven approach adds a layer of transparency and support that is not often seen in the exchange space. This feature should particularly appeal to users who value a collaborative and open environment. However, it’s crucial to note that SafeTrade is not regulated by any top-tier financial authority, which might be a concern for those prioritizing security and compliance. Overall, if you’re looking for a cost-effective platform and are comfortable with the level of regulatory oversight, SafeTrade could be a solid choice.

View all comparisons against Switchere

View all comparisons against Safetrade

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 Switchere and Safetrade