What is switchere? The fastest way to buy Bitcoin with Visa / MasterCard




Switchere



What is switchere?



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 headquartered in Estonia - a country known for its positive views on blockchain technology and cryptocurrencies, the Switchere platform has received acceptance. significantly, with the clear vision of being convenient, transparent, easily buying / selling coins and providing a reliable fiat-to-crypto gateway.


Switchere.com is a non-custodial trading platform, ie no money is held by customers. The coins you buy on the platform will be transferred directly to the private wallet you provide. Unlimited cryptocurrency buying support, operating under government control, superior security are some of Switchere's most outstanding advantages 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.


Pros and cons of Switchere flooring


Advantages of Switchere


  • There are no hidden fees: That is, when you enter the amount in the "You have" box, the exact number 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 coins to coins (for example, exchange Bitcoin to Ethereum) in minutes.

  • Refund up to 2%: Switchere's rate of return is very attractive, up to 2%, meaning that the more you buy, the more money you'll get on the platform.

  • Non-custodial service: Your cryptocurrency is securely secure and immediately sent to your personal wallet. You who manage the private key.

  • Join in and verify quickly: Signing up for an account with Switchere.com takes only a few minutes and completes identity verification in 15 minutes.

  • Advanced security technology: Leading security standards and Crystal Blockchain Analytics, which enhances AML compliance and procedures.

  • Support 2FA: As a crypto exchange, certainly the 2-layer security feature (2FA) is indispensable, currently Switchere is also supporting this feature.

  • Exchanges are licensed and regulated: Fully comply with the law and operate under the supervision of Estonia financial authorities.

Two regulatory permits were granted by Estonian authorities. Source: mtr.mkm.ee
Two regulatory permits were granted by Estonian authorities. Source: mtr.mkm.ee
  • Attractive referral program: Promote to Switchere and you will receive a bonus. Earn 80% from the profits that Switchere receives from referrals (F1) when they buy coins, and 10% from F2 - that is, those recommended by your F1.

  • 24/7 support: Customer support team is always ready to help you around the clock. Get timely instructions and solve problems at all times.

  • Highly rated: According to the Trust Pilot review page, Switchere's service is rated at an average of 4.5 stars.

  • Support many 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 home currency.

Disadvantages of Switchere floor


  • The purchase price will be higher than regular centralized exchanges

  • Support quite a few coins

  • No mobile app yet

What coins does Switchere support?



Currently, Switchere only supports buying / selling and exchanging a total of 6 coins, this amount seems to be very modest when compared to other centralized exchanges. However, the thing to consider is that they operate in the direction of a simple fiat-crypto gateway, so the limited number of coins supporting is understandable. After you buy Bitcoin or altcoin, you can send it to another major exchange for traders, such as Binance.


Below we will list all the coins that Switchere is supporting, and will update more as the platform announces additional coins in the future:


Transaction fee on Switchere



Unlike other cryptocurrency exchanges, Switchere Not counting any hidden fees, "what you see is what you get" - as I mentioned above. However, the purchase price on Switchere will usually be 10% higher than the market average. This is obvious no matter what platform you use to buy coins with Visa / MasterCard credit card, in exchange for convenience, simplicity and speed.


In addition, you do not have to take any deposit / withdrawal fees, because Switchere does not hold your money.


Verify identity and purchase limits on Switchere



In the past, for users who purchased less than 100 EUR, Switchere will not require account registration and identity verification. But since the European Union (EU) launched its fifth anti-money laundering (AML) directive - effective January 10, 2020, all cryptocurrency exchanges operating in EU regions must comply with this directive and require users to verify before trading. At Switchere, there will be 4 levels of verification corresponding to 4 limits on the amount of money you are allowed to buy:


Verify and limit purchase


  • Email & Phone: This is the initial verification, including Email and Phone number are required to move to the next step.

  • Identity: Identity verification, this you will need to provide some personal identification and facial recognition, 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: Address verification, can provide residence address through utility bills, after this step the purchase limit increased to 5,500 USD.

  • Proof of Income: Proof of income, provide your source of income, this step is complete, the purchase limit will be unlimited.

Switchere handle this process quite fast, each step about 5-10 minutes, sometimes not to, and are handled manually. The online support team of the platform is also available to assist you in the verification process if you encounter any difficulties.


Instructions on how to use the Switchere floor from A - Z



1. How to register to create an account on the Switchere trading platform


Step 1: To open an account on Switchere you click come in then select "REGISTER".


How to register Switchere floor. Photo 1
How to register Switchere floor. Photo 1

Step 2: Enter the following information:


  • Email: Enter your email

  • Password: Account password, must contain lowercase letters, Hoa, numbers and special characters

  • Confirm password: Retype the password above

  • Check on "I agree to ..."

  • Finally select "Complete Registration"

How to register Switchere floor. Photo 2
How to register Switchere floor. Photo 2

Step 3: Switchere's system will send you a 4-digit code via email, go to the email used to register above to get this code and enter it below to activate your account.


How to register Switchere floor. Photo 3
How to register Switchere floor. Photo 3

Step 4: Continue to verify phone number, enter your phone number and press "Send Code“, Then Switchere also sends a 4-digit code via SMS, you get the code and enter it is finished.


How to register Switchere floor. Photo 4
How to register Switchere floor. Photo 4

2. Instructions on how to turn on 2FA security on Switchere


As mentioned above, Switchere also offers two-layer security (2FA) to ensure your account is always secure.


First you need to download the application phone Google Authenticator Already, download link below:


Step 1: To activate 2FA is quite simple, choose "ACCOUNT"On the menu and then"SETTINGS”=> Under section 2FA choose click on“Enable".


2FA security


Step 2: First you save the backup code or the "Secret key TOTP", this will help you recover 2FA in case of phone loss. Open the Google Authenticator app to scan the QR-code through the black and white square, then get the 2FA code into the next box (Google 2FA code), then press “Enable 2FA”Is done. If you do not know how to scan code, please see this article "What is Google Authenticator".


Switchere security


3. Guide to buy and sell Bitcoin and altcoin on Switchere with Visa / MasterCard


Note is before Buy coins on Switchere then you need to verify your identity, as well as other information at each level corresponding to the amount of money allowed to buy as you mentioned above. Below I will guide you to buy Bitcoin, and with altcoin, you can do the same, quite simple.


Step 1: At the switchere.com homepage, enter the following purchase information:


  • You have: Select the USD currency on the right, then enter the amount you want to buy, for example you buy 100 USD.

  • You get: Select BTC on the right and on the left you will see the number of BTC you receive corresponds to 100 USD.

  • Then select "Buy Bitcoin".

How to buy Bitcoin on Switchere. Photo 1
How to buy Bitcoin on Switchere. Photo 1

Note: Although Switchere currently supports VND and makes direct payment through some Vietnamese banks such as Vietcombank, Agribank, MB, etc., during the payment process, they will require to enter bank account information. , this I see is not really safe, so I will test again, if ok, I will update later for you.


Step 2: Here you enter your BTC wallet address, you can use any wallet, such as BTC wallets on exchanges, private wallets, hardware wallets, etc. if you do not have a wallet, you can join Check out the best Bitcoin wallets we've introduced. Then select "Make Payment".


How to buy Bitcoin on Switchere. Photo 2
How to buy Bitcoin on Switchere. Photo 2

Step 3: In this step, you will enter your Visa or MasterCard credit card information to make the payment, this part for those who have a credit card, they probably already know how to do it, so I will not guide you further. again. Then 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.


How to buy Bitcoin on Switchere. Photo 3
How to buy Bitcoin on Switchere. Photo 3

In case you want to sell coins to receive cash on the card, just do the opposite, that is, the "You have" section you select BTC, under "You get", select "USD" and perform the same steps, every things are not too complicated so I will not guide in detail the sale of coins on Switchere. In addition, you can also exchange coins with coins, for example, you have BTC and want to change to ETH, BCH, XRP or LTC through the information entry above.


Epilogue


General, Switchere is a non-custodial trading platform worth experiencing. With transparency, regulation, convenience, quick and easy purchase, Switchere has been becoming more and more popular with the global crypto community, especially in Europe, and is coming soon. could be Vietnam. However, besides the advantages, there are still some disadvantages such as supporting quite a few coins or not having a mobile app.