What is Switcher?
Switchere is a relatively new cryptocurrency exchange that allows users to buy coins with credit and debit cards quickly. Although only launched in 2019 and is headquartered in Estonia – a country known for its positive views on blockchain technology and cryptocurrencies, the Switchere platform has already gained acceptance. significant, with a clear vision of providing convenience, transparency, ease of buying/selling coins and providing a trusted fiat-to-crypto gateway.
Switchere.com is a non-custodial trading platform, i.e. does not hold client funds. The coins you buy on the platform will be transferred directly to the private wallet you provide. Support for buying unlimited cryptocurrencies, operating under government control, outstanding security are some of the most outstanding advantages of Switchere that you should consider choosing it.
Switchere is growing rapidly with a large presence in Europe and has now entered the Asian market, including Vietnam.
Advantages and disadvantages of Switchere floor
Advantages of Switchere
- No hidden fees: That is, when you enter the amount in the “You have” box, the exact amount of coins you will receive below the “You Get” box, all other costs Switchere will bear for you.
- Buy/sell and exchange quickly: You can buy Bitcoin and other altcoins with Visa/MasterCard and vice versa, or convert coin to coin (for example, exchange Bitcoin to Ethereum) in minutes.
- Cashback up to 2%: Switchere’s cashback rate is very attractive, up to 2%, which means the more you buy, the more cashback you will get on the platform.
- Non-custodial service: Your cryptocurrency is secure and instantly sent to your personal wallet. It is you who manage the private key.
- Join and verify quickly: Signing up for an account with Switchere.com takes just a few minutes and completes identity verification in 15 minutes.
- Advanced security technology: Leading security standards and Crystal Blockchain Analytics, which enhances due diligence and AML compliance procedures.
- Support 2FA: As a crypto exchange, surely the 2-layer security feature (2FA) is indispensable, currently Switchere is also supporting this feature.
- Licensed and Regulated Exchange: Fully compliant with the law and operating under the supervision of the Estonian financial authority.
- Attractive referral program: Promote Switchere and you will get a bonus. Earn 80% of the profits that Switchere receives from the people you refer (F1) when they buy coins, and 10% from F2 – ie the people referred by your F1.
- 24/7 support: Customer support team is always ready to help you around the clock. Get timely guidance and problem solving every time.
- Highly rated: According to the review site Trust Pilot, Switchere’s service is rated at an average of 4.5 stars.
- Support multiple banks: Switchere.com has integrated local banks as a payment method so that customers from Vietnam or any Asian country can conveniently pay in their local currency.
Disadvantages of Switchere floor
- The purchase price will be higher than that of regular centralized exchanges
- Support quite a few coins
- No mobile app yet
What coins does Switchere exchange support?
Currently, Switchere only supports buying/selling and exchanging a total of 6 coins, which seems very modest when compared to other centralized exchanges. However, the thing to consider is that they operate as a simple fiat-crypto gateway, so the limited number of coins that support it is understandable. After you buy Bitcoin or altcoin, you can send it to another major exchange for trading, such as Binance.
Below we will list all the coins that Switchere currently supports, and will update more when the platform announces more coins in the future:
Transaction fees on Switchere
Unlike other cryptocurrency exchanges, Switchere without any hidden fees, “what you see is what you get” – as I mentioned above. However, the purchase price on Switchere will usually be about 10% higher than the average market price. This is obvious no matter what exchange you use to buy coins with Visa/MasterCard credit cards, but in return there is convenience, simplicity and speed.
In addition, you do not have to pay any deposit/withdrawal fees, as Switchere does not hold your funds.
Identity verification and purchase limits on Switchere
Previously, for users who bought in less than 100 EUR, Switchere will not require account registration nor identity verification. But since the European Union (EU) introduced the 5th anti-money laundering (AML) directive – which came into force on January 10, 2020, all crypto exchanges operating within All EU regions are subject to this directive and require users to verify before transacting. At Switchere, there will be 4 verification levels corresponding to 4 limits on the amount you are allowed to buy:
- Email & Phone: This is the initial verification, including Email and Phone number are required to move to the next steps.
- Identity: Identity verification, this you will need to provide some personal documents and facial recognition, after this step you are allowed to buy up to 550 USD.
- Bank Card: Verify your bank card, completing this step your purchase limit will increase to 1,100 USD.
- Address: Verify address, can provide residential address through utility bills, after this step the purchase limit increases to 5,500 USD.
- Proof of Income: Proof of income, provide your source of income information, this step is completed, the purchase limit will be unlimited.
Switchere processing this process is quite fast, each step is about 5-10 minutes, sometimes it does not come, and is handled manually. The floor’s online support team is also always ready to assist you during the verification process if you encounter difficulties.
Instructions on how to use the complete Switchere floor from A – Z
1. Instructions for registering to create an account on the Switchere exchange
Step 1: To open an account on Switchere, click come in then select “REGiSTER“.
Step 2: Enter the information below as follows:
- Email: Enter your email
- Password: Account password, must have lowercase characters, uppercase, numbers and special characters
- Confirm password: Re-enter the above password
- Tick ”I agree to…“
- Finally select “Complete Registration“
Step 3: Switchere’s system will send you a 4-digit code via email, go to the email you used to register above to get this code and enter it below to activate your account.
Step 4: Continue to verify the phone number, enter your phone number and then press “Send Code“, then Switchere also sends a 4-digit code via SMS, you get the code and then enter it.
2. Instructions on how to enable 2FA security on Switchere
As mentioned above, Switchere also offers two-factor authentication (2FA) to ensure your account is always safe.
First you need to download the app on your phone Google Authenticator yes, download link below:
Step 1: To activate 2FA is also quite simple, you choose “ACCOUNT‘ on the menu and then tap ‘SETTINGS WILL” => below the 2FA section select click on “Enable“.
Step 2: First you save the backup code or “Secret key TOTP”, this will help you to restore 2FA in case your phone is lost. Open the Google Authenticator app to scan the QR-code through the other black and white square, then take the 2FA code and enter it in the box next to it (Google 2FA code), then press “Enable 2FA“It’s done. If you do not know how to scan the code, see this article “What is Google Authenticator?“.
3. Instructions for buying and selling Bitcoin and altcoins on Switchere with Visa/MasterCard
Note that before buy coins on Switchere then you need to verify your identity, as well as other information according to each level corresponding to the amount of money allowed to buy as I mentioned above. Below I will guide you to buy Bitcoin, and with altcoins, you can do the same, quite simple.
Step 1: At switchere.com homepage, enter the following purchase information:
- You have: Select the currency USD on the right, then enter the amount you want to buy, for example, I buy 100 USD.
- You get: Select BTC on the right and on the left you will see the amount of BTC you receive corresponding to 100 USD.
- When done, select “Buy Bitcoins“.
Note: Although Switchere currently supports VND and makes direct payments through a number of Vietnamese banks such as Vietcombank, Agribank, MB, ..but during the payment process they will ask to enter bank account information. , this I think is not really safe, so I will test it again, if ok, I will update you guys later.
Step 2: Here you enter your BTC wallet address, you can use any wallet, such as BTC wallet on exchanges, private wallet, hardware wallet, .. if you do not have a wallet, you can join Check out the best Bitcoin wallets we’ve featured. When done, select “Make Payment“.
Step 3: In this step you will enter your Visa or MasterCard credit card information to proceed with the payment, this part for those who have credit cards, they probably already know how to do it, so I will not guide you further. again. When done, select “Pay” and note that you need to complete this process within 10 minutes, then wait for about 15-20 minutes, Bitcoin will automatically be transferred to your wallet.
In case you want to sell coins to receive cash on your card, just do the opposite, that is, in the “You have” section, select BTC, under “You get” select “USD” and follow the same steps, all The thing is not too complicated, so I will not detail the part of selling coins on Switchere. In addition, you can also exchange coins with coins, for example, you have BTC and want to exchange to ETH, BCH, XRP or LTC…