Comparison of Switchere vs Coinsbank [ 2024 ]

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

coinsbank

Coinsbank

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

Investing risks losing your money

Main points

Fees

only card 3.60%

Earns

No

Customer service

3/5
0,20%/0,50%

Fees

Yes

Earns

2/5

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.
3.7 – Competitive fees with additional benefits for cardholders.

Level

only card 3.60%
0,20%/0,50%

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.
CoinsBank structures its commission model to accommodate both crypto-to-crypto and fiat-to-crypto transactions. The trading fees are notably higher than the industry average, typically around 0.50% for takers, which is double the more commonly seen rate of 0.25% among various exchanges. This elevated fee structure can impact high-volume traders significantly, making it a critical consideration for anyone looking to use CoinsBank for frequent trading activities.

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

Coinsbank

coinsbank
Read switchere review
  • Year Founded: Established in 2016, CoinsBank has been active for several years, providing a stable and evolving service platform in the cryptocurrency exchange market.
  • Customer Service: Offers a comprehensive array of customer support options including email, telephone, and live chat, ensuring that users have access to assistance whenever needed.
  • Security Methods: Implements robust security measures including two-factor authentication (2FA), cold storage of funds to protect user assets, and SSL encryption for data security.
  • Reputation and Reviews: Despite some challenges, CoinsBank has managed to maintain a mix of positive reviews particularly for its user-friendly interface and multi-functional platform, highlighting its commitment to customer satisfaction.
  • Regulation: CoinsBank is licensed under the International Financial Services Commission (IFSC) of Belize and is registered with FinCEN MSB in Belize, indicating compliance with certain regulatory standards.
  • Pros
  • Supports multiple fiat currencies.
  • User-friendly interface and mobile app.
  • Offers wallet, card, and merchant services.
  • Cons
  • High transaction fees.
  • Limited cryptocurrency assets.

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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
CB Exchange LP

Regulation

Not regulated
Not regulated

Year founded

2019
2016

Founder

Unknown
Unknown

Payment methods

Transfers

Yes
Yes

Mastercard

Yes
Yes

Wire transfer

No
Yes

Card

Yes
Yes

Comparative table

Switchere FEATURES Coinsbank
Switchere offers a low minimum trade amount, making it accessible for beginners or those looking to experiment with small transactions.
Minimum Trade
The platform offers a low minimum trade amount, making it accessible for beginners or those looking to start with small investments.
The fees are relatively high compared to industry standards, which might deter frequent traders or those dealing in larger volumes.
Trading and Transaction Fees
CoinsBank charges higher than average fees, which could be a deterrent for high-volume traders.
Switchere supports a limited but essential selection of cryptocurrencies, suitable for those new to crypto but restrictive for diverse portfolios.
Number of Cryptocurrencies
Offers a moderate selection of cryptocurrencies including major ones like Bitcoin, Ethereum, Litecoin, and Ripple, but lacks a wider range as seen in larger exchanges.
Offers basic trading pairs; however, it lacks the variety provided by larger exchanges, limiting strategic trading options.
Crypto-to-Crypto Trading Pairs
A decent range of trading pairs is available, though not as extensive as some of the larger platforms.
The website clearly outlines fees, processes, and security measures, providing users with the information they need to make informed decisions.
Website Transparency
The platform lacks some transparency regarding team details and operational insights, which could affect user trust.
Switchere focuses on direct cryptocurrency purchases with fiat and does not provide additional financial tools like a branded exchange card.
Credit/Debit Card
Dont’ have crypto card
Offers secure storage solutions, though it might lack some advanced security features available on more specialized platforms.
Storage Offering
Excellent security measures with cold storage options that ensure the safety of digital assets.
Limited options for staking and rewards, which could be expanded to encourage longer-term investments and user retention.
Staking and Rewards
Offers some staking options, but the rewards and varieties are not as competitive as other top exchanges.
Both mobile and desktop platforms are user-friendly and reliable, though they may lack some functionalities expected by advanced users.
Mobile App and Desktop
Both mobile and desktop platforms are user-friendly and reliable, suitable for trading on the go.
Generally responsive and helpful, but some users may experience delays during peak times.
Customer Service
Provides various channels for support including live chat and email, although response times can vary.
The process is straightforward, but the high fees for some operations and limited methods for withdrawal can be a drawback.
Deposit and Withdraw
Supports multiple deposit and withdrawal methods including bank transfers and cards; however, the high fees on certain transactions can be a disadvantage.

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
Crypto debit card, OTC trading, staking, Coinsbank wallet

Anonymity

No
No

Key points

Available cryptocurrencies

10+
Few, primarily major cryptocurrencies

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.
Coinsbank 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 decent value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.
Delivers reasonable value for money with competitive fees and a wide range of supported cryptocurrencies, though it may lack some advanced features.

Countries of operation

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

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 secure platform with a wide range of supported cryptocurrencies and competitive fees.

Base currencies available

EUR, USD, BTC
USD, EUR, GBP, RUB, 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.
CoinsBank provides a secure trading platform with a good selection of cryptocurrencies. It offers additional services like a wallet and card but has higher fees compared to some competitors.

Deposit and withdrawal

Switchere supports various deposit and withdrawal methods, including bank transfers and cryptocurrencies. Withdrawals are processed efficiently, with low fees.
CoinsBank provides multiple deposit options, including bank transfers and cryptocurrencies. Withdrawals are processed quickly, with competitive 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.
CoinsBank provides a straightforward account registration process. Users need to submit personal information and verify their identity. The process is efficient and usually takes less than a day to complete.

KYC required?

Yes
Yes

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.
CoinsBank provides support via email and live chat. The support team is knowledgeable and responsive, but the lack of 24/7 support may be a drawback 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.
CoinsBank employs comprehensive security measures, including 2FA and cold storage. However, it lacks regulation from 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 an expert on our website, I’ve extensively evaluated CoinsBank and can confidently share my insights. For individuals new to cryptocurrencies or those seeking a multifunctional platform, CoinsBank stands out with its user-friendly interface and versatile offerings, including wallets, cards, and merchant services. However, it’s crucial to be aware of the higher transaction fees and the limited information about the team behind the scenes. These factors should be carefully considered when deciding if CoinsBank aligns with your trading and investment needs. Overall, if convenience and a variety of services are your priority, CoinsBank could be a suitable choice.

View all comparisons against Switchere

View all comparisons against Coinsbank

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 Coinsbank