Comparison of Stormgain vs Switchere [ 2024 ]

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

Your expert: Alejandro Borja

stormgain

Stormgain

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

Your expert: Xavier Tarrasó

switchere

Switchere

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

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

Yes

Passive income

No

Buy and hold

Yes
Yes

Beginners

No

Trading

No

Passive income

No

Buy and hold


Comparison of fees

Rating

4.1 – Competitive fees with a focus on leveraged trading.
3.9 – Reasonable fees with additional benefits for instant purchases.

Level

≤0,25%
only card 3.60%

Brief explanation

StormGain charges a unique fee structure that differentiates it from many other cryptocurrency exchanges. The platform adopts a flat fee model for trading, charging a standard rate of 0.25% on all trades. This rate is slightly above the new industry average, which tends to range around 0.10% to 0.15%, but StormGain offers a compelling twist: it only imposes these fees on profitable trades. This means if your trade does not make a profit, you are not charged a trading fee. In addition to trading fees, StormGain also applies withdrawal fees, which vary by cryptocurrency. For instance, withdrawing Bitcoin incurs a fixed fee of 0.0006 BTC, combined with a percentage fee of 0.10% of the withdrawn amount. This hybrid fee model can be particularly advantageous or costly depending on the amount being withdrawn and the current value of the cryptocurrency. Overall, StormGain’s fee model is designed to benefit profitable traders by allowing them to incur costs only when they earn, which can be particularly attractive to high-volume traders who are confident in their trading strategies and market timing.
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.

Stormgain

stormgain
Read stormgain review
  • Security Measures: StormGain takes the security of its users seriously, implementing advanced measures like cold storage for the majority of funds, two-factor authentication (2FA), and encryption technologies to safeguard personal and transaction data.
  • High Leverage Options: Offering leverage up to 1:300, StormGain provides one of the highest leverage options available in the market. This allows experienced traders to maximize their trading strategies effectively.
  • Innovative Trading Features: StormGain features a range of innovative trading tools including leveraged crypto futures, options, and tokenized assets. This variety not only caters to different trading preferences but also enhances trading potential through diversification.
  • Reputation and Reviews: Since its inception in 2019, StormGain has built a solid reputation, ranked highly on several review platforms. Most reviews highlight customer satisfaction with the platform’s user-friendly interface and comprehensive trading tools.
  • Customer Service: StormGain offers robust customer support with a 24/7 service team accessible via email, chat, and phone. This level of support ensures that users' queries and issues are resolved promptly, enhancing user trust and satisfaction.
  • Pros
  • High leverage options up to 1:300
  • No fees on unprofitable trades
  • Supports crypto futures, indices, and tokenized assets
  • Cons
  • Limited cryptocurrency selection
  • No fiat currency support available.

Read stormgain review

Switchere

switchere
Read stormgain 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

Stormgain LLC
Unknown

Regulation

Not regulated
Not regulated

Year founded

2019
2019

Founder

Unknown
Unknown

Payment methods

Transfers

No
Yes

Mastercard

Yes
Yes

Wire transfer

No
No

Card

Yes
Yes

Comparative table

Stormgain FEATURES Switchere
StormGain allows for relatively low minimum trade amounts, making it accessible for beginners or those looking to trade small amounts.
Minimum Trade
Switchere offers a low minimum trade amount, making it accessible for beginners or those looking to experiment with small transactions.
StormGain charges a 0.25% flat fee on all trades and additional fees on profitable trades, which can be somewhat higher than some competitors.
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 limited selection of cryptocurrencies compared to larger exchanges, which might be a downside for users looking for diverse trading options.
Number of Cryptocurrencies
Switchere supports a limited but essential selection of cryptocurrencies, suitable for those new to crypto but restrictive for diverse portfolios.
Although limited in overall cryptocurrency numbers, it provides essential trading pairs, suitable for most conventional traders but not ideal for those seeking depth.
Crypto-to-Crypto Trading Pairs
Offers basic trading pairs; however, it lacks the variety provided by larger exchanges, limiting strategic trading options.
The website is quite transparent about fees and trading options, though it could improve by providing more information about the team and their operational ethos.
Website Transparency
The website clearly outlines fees, processes, and security measures, providing users with the information they need to make informed decisions.
StormGain currently lacks an exchange card, missing an opportunity to extend additional payment convenience and 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 a secure wallet for cryptocurrency storage, incorporating essential security features such as 2FA.
Storage Offering
Offers secure storage solutions, though it might lack some advanced security features available on more specialized platforms.
Offers competitive staking options and rewards, adding value for users who hold their cryptocurrencies in the exchange’s wallet.
Staking and Rewards
Limited options for staking and rewards, which could be expanded to encourage longer-term investments and user retention.
The mobile and desktop platforms are well-designed, intuitive, and user-friendly, suitable for both beginners and experienced traders.
Mobile App and Desktop
Both mobile and desktop platforms are user-friendly and reliable, though they may lack some functionalities expected by advanced users.
Provides 24/7 customer support, but feedback on the responsiveness and quality of support varies among users.
Customer Service
Generally responsive and helpful, but some users may experience delays during peak times.
Offers instant deposit and withdrawal options, but the fees, especially for withdrawals, can be high depending on the method and currency.
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

Advanced charting tools, technical analysis
No significant tools, mainly a buying platform

Mobile APP

No
No

Security

High 4,5/5
High 4/5

Additional features

Margin trading, futures trading, staking, StormGain Earn
Instant crypto purchases, staking, Switchere wallet, educational resources

Anonymity

Yes
No

Key points

Available cryptocurrencies

50+
10+

User-friendliness

StormGain 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

Offers good value for money with competitive fees and advanced trading features, suitable for both retail and institutional traders.
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
Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

Suitable for both retail and institutional traders interested in derivatives trading with competitive fees and advanced features.
Ideal for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

USDT, BTC
EUR, USD, BTC

Account

Trading

StormGain offers extensive trading options including leveraged trading. It provides advanced tools suitable for experienced traders but might be overwhelming for beginners.
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

StormGain 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

StormGain provides a seamless account opening process. Users need to provide personal information and verify their identity. The process is quick 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

StormGain provides extensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely 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

StormGain provides comprehensive security measures, including 2FA, encryption, and cold storage. It is not regulated by 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 reviewing cryptocurrency platforms for our website, I find StormGain to be an intriguing option for traders who are particularly interested in leveraging high-risk, high-reward strategies. Its ability to offer up to 1:300 leverage is a standout feature that attracts experienced traders looking for significant market exposure. Additionally, the platform’s user-friendly interface and educational resources make it accessible, even for newcomers to the crypto trading scene. However, it’s important to approach trading on StormGain with a clear strategy and an understanding of the risks associated with high leverage trading.
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 Stormgain

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.

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