7 Shapeshift Alternatives to Convert Small Amounts of Crypto Without KYC
Shapeshift.io joined the scene of cryptocurrencies and developing blockchain technology back in 2014, ever since representing one of the most efficient and fastest methods of swapping Bitcoin (BTC) and altcoins in a single click without the need for writing up orders in order to complete exchanges. In a recent case, Shapeshift.io had broken down, changing their USP as well as their well-known and respected business model that brought many crypto users to Shapeshift platform.
The platform is introducing membership models and rewarding programs, which will in great way change the general manner of operations on Shapeshift, which is why many users may decide to seek for Shapeshift alternatives in order to instantly convert small amounts of crypto. By far, Shapeshift was operating in a way to allow anonymity for all users, however, the platform will be introducing KYC with the new USP and business model, which means that users will need to say goodbye to anonymous conversions or see another platform where they can perform crypto swaps without KYC verification.
Here are 8 Shapeshift alternatives to convert small amounts of crypto without KYC verification.
Tokens.net is a prominent although young exchange for cryptocurrencies and digital assets with their own ERC20 token, DTR (Dynamic Trading Rights) that further serves the purpose of fee settlement on the exchange network. Users who are interested in converting small amounts but would like to keep their anonymity in the spirit of crypto nature and definition of cryptocurrency-based payments, can find a favorable alternative to Shapeshift.io in Tokens.net. Tokens.net users need to create accounts in order to start trading and swapping their coins, however, no KYC or AML verification is required, so account holders may proceed with swapping in no time and make conversions at low and competitive rates.
Tokens.net users may use DTR (Dynamic Trading Rights) units for fee settlement, while the exchange further automatically collects and burns the tokens used for fees to be able to prevent inflation and assure an adequate level of liquidity on the platform. Users may execute crypto-to-crypto instant swaps and operate with some of the top cryptocurrencies and tokens, as Tokens.net offers 18 different ERC20 tokens alongside the top trading digital assets such as Litecoin (LTC), Bitcoin (BTC) and Ethereum (ETH). The exchange service is offering more than token and coin swaps, so users may take advantage of exchange services, real-time crypto market data and crypto loan service, in addition to gaining access to Tokens.net mobile app for Android and iOS.
Changelly is most probably one of the biggest competitors to Shapeshift, especially now when Shapeshift is changing their own business model and introducing KYC verification alongside with different membership programs as a part of the changing business model. Changelly charges low commissions that don’t surpass 0.5% for coin swaps, while it hosts around 130 different cryptocurrencies on its platform. No KYC is required when creating an account on Changelly, as users are asked to verify their accounts by using their email IDs – a feature that was never available on Shapeshift by far.
Users can easily get access to super-fast coin swaps and take advantage of a long list of available cryptocurrencies at some of the lowest rates, while executing fast and efficient conversions between different digital assets. While Shapeshift is starting to collect users’ information in order to establish the newly announced business model, Changelly is focused on providing effective services for crypto-to-crypto conversion without taking interest in users’ private information and without asking for KYC verification. In addition to offering efficient coin swap services, Changelly has a user-friendly interface suitable even for users who are not particularly crypto-oriented or tech-savvy. You can also purchase Bitcoin (BTC) on Changelly by using your credit card.
When it comes to positive liquidity levels, CoinSwitch might be one of the leading crypto swap platforms in this domain as this platform acts as an aggregator for coin swap conversions by connecting to various exchanges where coin trading is performed live. Some of exchanges that are connected to CoinSwitch are Binance, KuCoin, and Bittrex, supporting crypto-to-crypto conversions of CoinSwitch users. What might be the most benevolent reason to use CoinSwitch is complete anonymity with no strings attached at all.
Unlike any other exchange or conversion service platform out there, CoinSwitch doesn’t require its users to create an account on the platform to be able to make coin swaps and convert their assets. Users can freely use available conversion services without opening an account on any of the mentioned exchanges or CoinSwitch for that matter. Moreover, the coin swapping service offers around 300 different altcoins and coin including the top trading cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) in addition to enabling users to base their coin swaps on the best offer they can get from the list of available offers on CoinSwitch.
Flyp.me is yet another coin swap service provider that doesn’t require any form of registration or disclosure of personal information provided by users, as anyone can use Flyp.me service without creating an account. Users may swap their cryptocurrency without providing an email, identification of any kind or creating an account, with ability to send their swapped coins straight to their digital crypto wallets. The overall level of liquidity is semi-satisfying and the exchange service could definitely use more liquidity, although the present liquidity level is set at 10 BTC units on a daily basis.
Flyp.me offers more to its users, so in case a user decides to become a holder of FYP tokens, the FYP token holder becomes eligible for 50% profit sharing as long as the FYP units are held and not sold or exchanged. Flyp.me offers around 26 cryptocurrencies in total, so as opposed to competitive exchange and swap services, Flyp.me might have a lower number of available assets, but it most certainly compensates for it through enabling complete anonymity and prompt crypto-to-crypto swap service.
MorphTrade is a crypto-to-crypto swap service that doesn’t require account creation or logging in in order to enable users to access the exchange platform. Instead, users may keep their anonymity with no registering or KYC verification needed. Besides from enabling crypto-to-crypto swapping in an instant and efficient way, MorphTrade offers crypto splitting within their conversion services, which means that users may split their initial coin into several different digital assets during swapping.
In practice, that means that if you wish to swap your BTC units for a different coin, you may split your conversion to match swapping of BTC into several different cryptos, so instead of conversing divided BTC unit into partial amounts in order to swap to multiple different coins, you can get a split swap all at once and within a single swap action. For instance, you may swap 1 BTC to ETH, LTC and XRP at the same time, while the swap service will calculate the matching weight of BTC and divide it into several crypto units in a single transaction, which further increases the overall efficiency of the service.
BlockTrades is somewhat a new service that allows its users to use crypto-to-crypto swaps without the need for KYC verification and without opening an account and completing registration. Users who would like to track their transaction history may create an account, but still with no need for any type of ID verification and with the ability to use the swapping service without logging into the account.
As new competitors are emerging in the domain of crypto-to-crypto swapping with Shapeshift changing their business model and the overall policy of anonymous swapping, BlockTrades could pose as a viable alternative. However, the user interface that the exchange is using is said to be outdated as opposed to UI competitor swap services are using. Still, the fact that BlockTrades is updating the list of available cryptocurrencies speaks in favor of active development of their swap platform.
SimpleSwap.io is said to be a safe, comfortable and fast place for swapping cryptocurrencies, however, some users are reporting delays in instant crypto-to-crypto swapping service. SimpleSwap.io can compensate for delays as the exchange offers around 300 different digital currencies, so users have a wide range of choices to choose from. The process of crypto-to-crypto swapping is rather simple on the platform as SimpleSwap.io doesn’t require registration or KYC verification, so users may swap their coins and tokens instantly without the hassle of creating and verifying accounts.