Regulated

Score

0123456789.01234567890123456789
/10

switchere

Lithuania

|

5-10 years

Digital Currency License|

High potential risk

https://switchere.com/

Website

Rating Index
Influence

Influence

A

Influence Index NO.1

United States 3.63

Better than 99.42% exchange(s)

Biz Area

Search Statistics

Advertising

Social Media Index

Influence
A

Licenses

MTR

MTRRegulated

Digital Currency License

MTR

MTRRegulated

Digital Currency License

Exchange Info

More
Company Name
switchere
Phone of the company
+3726104250
Customer Service Email Address
info@switchere.com
customercare@switchere.com

WikiBit Risk Alerts

1
Previous Detection 2024-06-16

The number of this Exchange's nagitive field survey reviews has reached 1, please be aware of the risk and the potential scam!

Website

Genealogy

Social Media

Trade Type

Keywords

Time Machine

White Paper

Related Software

Github

Related Docs

All Corps

New Arrival

Vol Stat

Influence

Yesterday Vol

7 Days

No data

User Reviews

More

7 ratings

Participate in evaluation
Lala27
Only one payment method No cryptocurrency selling option Limited selection of cryptocurrencies. Not recommended exchange platform
2023-10-22 08:44
4
zeally
Switchere's lineup of cryptocurrencies is a bit lacking compared to some of its competitors.
2023-12-21 03:37
5
Scarletc
Switchere makes buying crypto about as straightforward as it can be. Once you've set up an account, the order process takes seconds, and you'll have access to some of the biggest cryptocurrencies.
2023-12-06 19:08
9
BIT4079452296
From the time point of view, I have the same experience as you. Now the customer service has lost contact, the trading platform cannot be logged in, and we have been induced to defraud. I have been exposed!
2022-05-24 18:24
0
BIT4079452296
At 21:13 on May 20, 2022, sell the token EHR and withdraw it later. At 13:00 on the 21st, the platform showed that the acceptor took the order and paid, but there was no result, and the customer service could not be contacted. The trading platform could not be logged on on the 22nd, and the loss was heavy!
2022-05-24 18:11
0
BIT4079452296
This platform is a scam! From the time point of view, I was deceived together with the above-mentioned flat commentators! At 9:00 p.m. on May 20, I sold the token EHR to withdraw cash, but there was no more text, the customer service could not be contacted, and the trading platform on the 22nd could not be logged in, and the loss was heavy! Hope that the blockchain supervision platform can help us recover our losses!
2022-05-24 17:49
0
BIT1933458969
I found out that this platform is a scam. My withdrawal on May 20, 2022 has not yet been received. Today, the transaction data on the platform is all blank. How can I ask the platform to ask for money? This scam will be punished by law. come forward to recover my loss
2022-05-23 07:03
0
Company Name Switchere
Registered Country/Area Estonia
Founded Year 2019
Regulatory Authority MTR
Cryptocurrencies Offered Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, etc.
Funding Methods Credit/Debit card, bank transfer, cryptocurrency
Customer Service 24/7 live chat, email support, social media

Overview of Switchere

Switchere is a platform where users can buy and sell cryptocurrencies with fiat currencies or between different types of cryptocurrencies. Unlike traditional cryptocurrency exchanges, which overwhelm users with a slew of features and a complex interface, Switchere is designed to be as intuitive and easy to use as possible.

Switchere official website

Through Switchere, users can buy and sell crypto with their Visa Mastercard debit or credit cards or online banking (this particular feature is only supported for certain Asian countries).

Pros and Cons

Pros Cons
User-Friendly Interface Limited Cryptocurrency Options
Multiple Payment Options Relatively Lower Liquidity
Instant Exchanges Regional Availability Restrictions
Transparent Fees

Pros Revealed:

  • User-Friendly Interface

Switchere employs an intuitive design that enables beginners to navigate the platform with ease. This user-friendly interface reduces the learning curve for users during transactions, enhancing the platform's usability.

  • Multiple Payment Options

The platform supports various payment methods, including credit cards and bank transfers. This allows users to choose the most convenient payment method according to their preferences and needs, enhancing the overall user experience.

  • Instant Exchanges

Switchere offers instant exchanges for specific transactions, adding to user convenience. This instant feature reduces the waiting time required for transactions, providing users with a faster trading experience.

  • Transparent Fees

The platform provides clear and transparent information about fees and rates. This transparency helps users make informed decisions during transactions and avoid unnecessary fees.

Cons Revealed:

  • Limited Cryptocurrency Options

Compared to larger exchanges, Switchere offers a more restricted selection of cryptocurrencies. This limitation could hinder users from engaging in diversified trading on the platform.

  • Relatively Lower Liquidity

Certain trading pairs on Switchere experience lower liquidity. This could expose users to greater price volatility risks when engaging in specific transactions.

  • Regional Availability Restrictions

The platform's availability is limited in certain regions or countries. This limitation could prevent some potential users from accessing or using the platform.

Regulatory Authority

WikiBit obtains regulatory information through various channels, including official regulatory websites, public records, and direct communication. The platform's team verifies the authenticity of regulatory licenses and certifications by cross-referencing the information from multiple reputable sources.

WikiBit aims to offer reliable and accurate regulatory information to help traders make informed decisions when choosing exchange/token/project.

As of August 2023, Switchere reportedly holds two regulated Digital Currency Licenses from Majandus Tegevuse Register (MTR, No. FVR000779 & No.FRK000680)

regulated MTR license
regulated MTR license

Security

While Switchere generally offers a wallet service, its main focus is providing a non-custodial exchange (this means that funds are sent to your own wallet when exchanging cryptocurrencies). Consequently, there is far less to worry about in terms of exchange security.

Nevertheless, Switchere employs all common security standards such as full TLS and SSL encryption of its website. You can see this by verifying the padlock icon in your browser.

Switchere security

Cryptocurrencies Available

Switchere offers a variety of cryptocurrencies for trading, including Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, and more. These cryptocurrencies are subject to price fluctuations on exchanges, meaning their values can rise and fall depending on market conditions and demand.

It's important to note that cryptocurrency prices can be highly volatile, and fluctuations in price can occur rapidly. This can present both opportunities and risks for traders, as they can potentially profit from price movements but also incur losses.

Aside from cryptocurrency trading, Switchere primarily focuses on providing a platform for users to buy and sell cryptocurrencies. The platform does not specify any other products or services that it offers, indicating that its main function is facilitating cryptocurrency transactions.

As with any investment or trading activity involving cryptocurrencies, it is important for individuals to carefully consider their risk tolerance, conduct proper research, and make informed decisions. The cryptocurrency market can be highly unpredictable, and users should be prepared for potential losses as well as gains when engaging in trading activities on Switchere or any other exchange.

Switchere cryptocurrency

How to Open an Account?

The registration process for Switchere can be completed in six steps.

1. Visit the Switchere website and click on the “Register” button to start the registration process.

Open an Account

2. Enter your email address and create a password to create an account.

3. Complete the verification process by providing the required personal information, such as your full name and address.

4. Verify your email address by clicking on the confirmation link sent to your registered email.

5.Choose the preferred payment method for deposits and withdrawals, such as credit/debit card, bank transfer, or cryptocurrency.

6. Once your account is verified and the payment method is set up, you can start trading and using the platform for buying and selling cryptocurrencies.

Fees

Switchere provides transparent information about its trading fees and other fees on its website. These fees can be reduced according to your tier. These fees are relatively competitive compared to some other exchanges in the market.

The tier-based maker and taker fees on SWITCHERE are as follows:

Max Discount Amount, EUR Service Fee Discount
Bronze 1 (5%) 0 - 1000 EUR 0.5% every 100 EUR
Bronze 2 (10%) 1000 - 2500 EUR 0.3333% every 100 EUR
Bronze 3 (15%) 2500 - 5000 EUR 0.2% every 100 EUR
Silver 1 (20%) 5000 - 10000 EUR 0.1% every 100 EUR
Silver 2 (25%) 10000 - 25000 EUR 0.0333% every 100 EUR
Silver 3 (30%) 25000 - 50000 EUR 0.02% every 100 EUR
Gold 1 (35%) 50000 - 100000 EUR 0.01% every 100 EUR
Gold 2 (40%) 100000 - 250000 EUR 0.0033% every 100 EUR
Gold 3 (45%) 250000 - 500000 EUR 0.002% every 100 EUR
Diamond (45%) 500000+ EUR 0% every 100 EUR

Funding Methods

Switchere supports multiple deposit and withdrawal methods to cater to the diverse needs of its users. For deposits, users can choose to make transactions using credit/debit cards, bank transfers, or other cryptocurrencies. This flexibility allows users to manage their funds according to their preferences.

As for withdrawals, users can utilize the same methods as deposits. This means that users can withdraw funds to their credit/debit cards, bank accounts, or other cryptocurrencies.

In terms of deposit and withdrawal fees, Switchere does not charge any fees for cryptocurrency deposits. However, there may be fees for depositing or withdrawing funds using credit/debit cards or bank transfers, which vary depending on the specific payment method and region.

Switchere User Review

User 1:

Legit app. Was very easy to navigate & payments went through securely & easily. The only issues I had were that it took so long to have my ID verified. You can‘t send edited photos of you ID or Drivers License, so I had to redo that. Then at the end it just kept saying that it was verifying my application info for at least 20 mins. Wasn’t until I sent them a message that it finally finished. Other than that, its a great way to safely buy & sell cryptocurrency.

User 2:

It's my first time using Switchere and the platform was soooo easy to understand and do business. My colleague referred me to site in order for me to purchase usdt. The registration is easy and the kyc. I prices are great can't complain. The purchase was completed in seconds, like wow great. I have already recommended the website to my friends.

Conclusion

Switchere is an excellent option for everyone who is looking for a quick and reliable way to buy cryptocurrencies such as bitcoin, litecoin, or ethereum.

The three-step buying process is straightforward even for beginners, and if you need help, there is a customer support desk that is willing to aid you whenever you need help.

Overall, Switchere exchange is a pleasant experience, so if youre not a tech-savvy user, or only looking for a fast way to buy crypto, Switchere is an excellent gateway for that.

FAQs

Q1: How much time does it take for auto ID verification?

A1: On average, auto ID verification takes up to 15 minutes.

Q2: What is a cryptocurrency wallet?

A2: A cryptocurrency wallet is a device, physical medium, software program or a service which stores the public and/or private keys and can be used to track ownership, receive or spend cryptocurrencies.

Q3: How do I increase my discount?

A3: To increase your discount on the service fee, you are required to meet a certain volume of your exchange operations. The discount percentage on the service fee increases with every step in the equivalent of €100 — the greater your total volume over the past 365 days, the greater your cumulative discount on the service fee.

Q4: What deposit and withdrawal methods are supported by Switchere?

A4: Switchere supports various deposit and withdrawal methods, including credit/debit cards, bank transfers, and other cryptocurrencies.

Q5: Can I cancel my transaction?

A5: No. Blockchain transactions are irreversible, that is why double-check the correctness of input data to avoid such situations.

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities.

Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.