What is a switch?
Switchere is one of the newest trading platforms for cryptocurrencies, known for allowing users to buy cryptocurrencies with their cards. It offers users the freedom to buy cryptocurrencies seamlessly, without the usual procedures that are a requirement with other exchanges.
Switchere Trading Bot is based in Tallinn, Estonia. The main goal of Switchere is to provide users with a simple and user-friendly interface for beginners. The exchange does not involve confinement. Instead of keeping the coins, Switchere transfers them to the offline wallet address you specify.
Switching has become popular for three main reasons. First, it has a transparent workflow. Secondly, strict guidelines and safety rules are followed. After all, she respects the law. However, one of the biggest problems with this switch is that it does not accept cards from all countries. The United States of America and Canada are among them.
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Presentation switch: Characteristics to be taken into account
1) Safety switch
Switchere is a relatively new trading platform. So the first question that comes to mind is the safety of the switch. Let’s take a look at the security rules and policies of the switch.
It follows the strict rules of the Estonian authorities. This is a completely new concept for a cryptocurrency exchange with its own regulatory framework. The Switch has two licences issued by these regulatory authorities. These are the Virtual Wallet Service Provider license and the Virtual Currency Exchange license.
These two licences prove that Switchere is considered by the Estonian authorities as a reliable exchange. These permits also require all company executives to complete a full KYC.
Security of trade
Since Switchere is a coin exchange, you don’t have to worry about storing the coins. For secure communications, Switchere offers full SSL and TLS encryption on its website.
SSL and TLS encryption ensure that all online communications are private and encrypted with a SHA 256 hash. This means that a hacker will not be able to steal your personal information.
When you open Switchere, you will find a secure padlock in your browser. This is one of the best measures to prevent hacking attacks. In terms of card security, Switchere uses a 3D security protocol.
Switchere offers several custom security features to prevent hacking attempts and other phishing attacks. It offers 2FA for account holders, which means you have to identify yourself for every signup. This prevents hackers from cracking your account, even if they know your password.
There is another auto-logout feature in Switchere that automatically logs you out for security reasons. You can also select the period during which you wish to be connected.
There are currently only three rooms available for purchase in the community. These three coins are Litecoin (LTC), Ethereum (ETH) and Bitcoin (BTC). Although the number of coins is limited compared to other exchanges, more cryptocurrencies will be available for purchase in the future.
3) Control panel
Modification of commercial payments
Unlike other platforms, Switchere does not allow you to trade between different currencies. It allows users to buy ETH, LTC or BTC with VISA or MasterCard. On the switch, the purchase price is slightly higher than the normal price.
Switchere’s official website makes no mention of such withdrawal fees. It does not display prices on its platform.
The switch is known for its transparency. They will not charge any additional fees not shown at checkout. All costs are included in the final price and you can see how many pieces you get for a certain amount.
Switchere does not require you to create an account or be verified at the beginning of your journey into crypto currency trading. If the amount is less than 100 euros, you can proceed directly to the payment. All you need is your email address and your offline bitcoin address.
If the amount involved is larger, there are a few simple verification steps you should go through before you start negotiating. Four levels of verification on this platform:
Email and phone verification
After you enter your email address and phone number, you will receive an email and text message to verify your account. This is required for a one-time purchase of 500 euros.
Identity card and bank card
If the amount is up to 1,000 euros, you will have to prove your identity and your bank card. For their confirmation, it is necessary to send copies of identity and bank documents.
If you want to buy up to €5,000 at once, you need to check your address. Some documents, such as a copy of an electricity bill or a bank statement showing your address, are required.
Proof of income
If you can show proof of income, all restrictions will be lifted for you.
5) Customer service
Another important feature of Switchere is the customer support. The support team is available 24 hours a day to provide assistance at any time of the day or night. They offer quick and helpful advice via online chat.
There are several ways to contact customer service. You can email them at [email protected] or call them at 3726104250.
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Overall, Switchere is an impressive trading platform. It has one of the simplest interfaces and is a no-custody exchange; there is no risk associated with the parts. Moreover, it has an efficient customer service team that will guide you throughout your trading journey. Although it has several disadvantages, it remains one of the best trading platforms for beginners.
Jacob is the mastermind behind BitCongress. He has been involved in the bitcoin and cryptocurrency world for years and reviews all products and services. Besides sitting at his computer absorbing information about cryptography, he likes to play Zelda.
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