While CoinSwitch is a known cryptocurrency exchange, some users have raised concerns about its fee structure, withdrawal procedures, and lack of advanced trading features. This article will explain what CoinSwitch is, explore the reasons you might consider an alternative, and present other platforms suited to your specific banking and global payment needs.
What is CoinSwitch?
Founded in 2017, CoinSwitch is an Indian cryptocurrency exchange that provides a user-friendly platform for trading over 300 digital currencies. The service stands out by aggregating rates from multiple exchanges for competitive pricing and offering futures trading with up to 75x leverage.
While its fee structure is integrated into the exchange rate, some users have raised concerns about transparency and the lack of advanced trading features. Despite these noted concerns, the platform generally receives high user satisfaction ratings on major app stores.
What to Consider When Selecting a CoinSwitch Alternative?
When searching for a platform to replace CoinSwitch, it's important to evaluate alternatives based on your specific needs, especially if you're managing business finances. Here are five key factors to keep in mind:
- Fee Structure and Transparency: Look for platforms with clear, upfront pricing to avoid the hidden costs sometimes associated with CoinSwitch's integrated fee model.
- Crypto and Fiat Integration: Consider services that offer smooth conversions between traditional currency and digital assets like stablecoins for straightforward payroll and expense management.
- Business-Specific Features: Evaluate whether the platform provides tools tailored for companies, such as multi-currency accounts, expense cards, and invoicing capabilities.
- Global Payment Capabilities: Ensure the alternative supports efficient international transfers and payments if you operate with a global team or client base.
- Customer Support and Reliability: Prioritize platforms known for responsive and helpful support, a common point of frustration for users of various financial services.
If these considerations align with your priorities, explore the detailed breakdown of alternatives in the next section.
10 Best Alternatives to CoinSwitch
1. OneSafe
At OneSafe, we provide a modern finance platform built to simplify banking processes for businesses, with a special focus on the Web3 and crypto industries. We equip companies with the necessary tools for effective fund management and quick payments, bridging the gap between traditional and digital assets.
Our platform facilitates direct 1:1 conversions between USD and USDC on Polygon, enabling straightforward payroll and expense management for global teams. Businesses also gain end-to-end expense management, rapid onboarding, and highly responsive customer support tailored for the digital asset space.
Pricing
We believe in transparent pricing. Here’s a glance at our fees:
- Free Account Essentials: We charge nothing for account opening, maintenance, or card issuance, and there's no monthly subscription or minimum balance required.
- Low-Cost Domestic Transfers: Move money within the US with a simple 0.1% fee for ACH and standard wires, or a flat $25 fee for Fedwire.
- Competitive International Payments: Send SEPA payments for just 0.2% and international wires for 0.2% plus a standard $50 SWIFT fee.
- Transparent Crypto Transactions: Benefit from direct 1:1 USD to USDC conversions on Polygon and a low 0.1% fee on USDT transactions, with market rates and no hidden fees.
- Global Card Spending: Use your corporate card for non-USD purchases with a standard 3% foreign exchange fee.
Reviews
Clients consistently praise our platform for its outstanding customer support and ability to solve major banking headaches for modern businesses. Users find our solutions to be a game-changer for managing payroll and operations, especially for Web3 companies.
- Amit Chu, Investments @ Celo Foundation: “OneSafe has the best customer support I've ever experienced from a bank.”
- Marco, CEO of Ensuro: “OneSafe is a game-changer. They solve so many headaches for our company. Finally a banking solution that gets it.”
Want to learn more? Check us out here.
2. Airwallex
Founded in 2015, Airwallex is a financial technology company that provides a suite of services including cross-border payments, multi-currency business accounts, and expense management. The platform also offers corporate cards and integrates with accounting software like Xero and QuickBooks.
Businesses can hold funds in over 20 currencies and make free local transfers to more than 120 countries. The service applies a markup of 0.5% to 1% above interbank rates for foreign exchange transactions.
Pricing
Here's their pricing at a glance:
- Free Explore Plan: This plan is for small businesses and is free for users who meet certain deposit or balance requirements. It includes multiple business accounts and free transfers to over 120 countries.
- $99/month Grow Plan: Aimed at growing businesses, this plan includes all features of the Explore Plan, plus international batch transfers, expense management, and bill pay services.
- $499/month Accelerate Plan: This plan is for large businesses and adds centralized management of finances across global entities and single sign-on capabilities.
- Custom Plan: Pricing is tailored for high-volume businesses or those requiring custom API implementations.
Reviews
User feedback for Airwallex is mixed, with some customers reporting issues related to customer service and account management. Common points of concern include delayed support responses, unexpected account suspensions, and challenges with the verification process. Check out more Airwallex reviews here.
3. Wise
Wise, formerly TransferWise, is a UK-based financial technology company established in 2011. It focuses on international money transfers using the mid-market exchange rate.
The platform provides a multi-currency account for holding funds in over 40 currencies and a debit card for global spending. Its services extend to both individual and business clients through Wise Business and Wise Platform offerings.
Pricing
Here's their pricing at a glance:
- Pay-As-You-Go Model: Wise operates without subscriptions or monthly fees, charging on a per-transaction basis.
- From 0.57% Fee: Sending Money: Fees for sending money vary depending on the currency.
- $9 One-Time Fee: Multi-Currency Card: A one-time fee is charged to issue the card, with additional fees for ATM withdrawals over $100 per month.
- $31 One-Time Fee: Business Account Setup: A one-time fee for businesses to receive account details in multiple currencies.
- Free: Receiving & Holding Funds: There is no charge to hold money or receive certain domestic payments, though international wire transfers have fixed fees.
Reviews
Some users have reported issues regarding account freezes and the responsiveness of customer support. Check out more Wise reviews here.
4. Blank
Blank is a French company that provides online professional accounts designed for freelancers and small businesses. It offers a range of financial tools to support independent professionals and companies.
The platform provides users with a French IBAN, a Visa Business card, and automated Urssaf declarations. Additionally, it includes tools for creating invoices and offers professional insurance options.
Pricing
Here's their pricing at a glance:
- €6/month (excl. tax) Simple Plan: Includes 30 SEPA transfers, quote and invoice creation tools, automated Urssaf declarations, and expense tracking.
- €17/month (excl. tax) Confort Plan: Offers all Simple plan features, plus phone support 5 days a week, 30 additional SEPA transfers, higher card limits, and income maintenance insurance.
- €39/month (excl. tax) Complète Plan: Contains all Confort plan features, plus unlimited SEPA transfers, email and phone support 6 days a week, and higher card limits.
- Free Trial: All plans include a free trial period.
Reviews
User feedback for Blank is varied, with some customers reporting difficulties related to account closure processes and delays in accessing their funds. Check out more Blank reviews here.
5. N26
N26 is a German fintech company founded in 2013 that offers a fully mobile banking experience. The platform provides services such as transaction accounts, debit cards, overdrafts, and investment products.
It delivers real-time banking through a mobile app interface with tools for managing spending and savings. Users can create sub-accounts and utilize a virtual Mastercard for online and mobile payments.
Pricing
Here's their pricing at a glance:
- Free N26 Standard: This account has no maintenance fees and includes a virtual Mastercard for online and mobile payments.
- €4.90/month N26 Smart: This plan provides tools for spending and saving, including the option for up to 10 sub-accounts.
- €9.90/month N26 Go: Designed for travel, this account offers free ATM withdrawals abroad and travel insurance.
- €16.90/month N26 Metal: This premium account includes a metal card, travel insurance, and priority customer support.
Reviews
User feedback indicates challenges with customer support, citing slow response times and unhelpful replies. Some customers also report instances of account closures and frozen funds without clear explanations from the company. Check out more N26 reviews here.
6. VIALET
VIALET is a Lithuanian Electronic Money Institution established in 2017, offering digital banking services for small and medium-sized enterprises. The company provides dedicated IBANs for SEPA, SEPA Instant, and SWIFT transactions, as well as card processing solutions for corporate clients.
The platform supports various payment methods, including C2B, B2B, and B2C transactions, and offers banking APIs and mass payouts. Additionally, VIALET accepts payments to and from cryptocurrency processors and provides accounts for EU-licensed crypto exchanges.
Pricing
VIALET does not publicly disclose its pricing information on its website. To receive an initial price list, businesses must complete an application, and final fees may be customized based on the provided information.
Reviews
User feedback points to challenges with customer service, including reports of unprofessional behavior and prolonged response times. Some customers also describe difficulties with the account opening process and excessive information requests. Check out more VIALET reviews here.
7. Payhawk
Payhawk is a spend management platform that integrates corporate cards, expense management, and accounts payable into a single system. It is designed to provide businesses with visibility and control over company expenditures through real-time tracking and reporting.
The platform offers Visa credit and debit cards in multiple currencies, automated receipt collection, and AI-powered data extraction in over 65 languages. It also supports multi-entity management for companies with various subsidiaries and provides integrations with accounting systems like Xero and QuickBooks.
Pricing
Payhawk does not make its pricing structure publicly available on its website. Instead, the company provides a personalized demo for potential customers to discuss pricing based on their specific requirements.
Reviews
User feedback indicates mixed experiences with the platform's interface, with some noting frequent UI changes and inconsistencies. Reviewers have also mentioned challenges during the initial setup, issues with mobile app synchronization, and a need for clearer guidance in administrative settings. Check out more Payhawk reviews here.
8. Everestcard
Everestcard is a neobank that provides financial management services for businesses. The company offers instant issuance of both virtual and physical Mastercard credit cards to give teams access to funds.
The platform allows for entirely online management, providing real-time control over cards and expenses via a dashboard and web application. It includes expense management tools such as automated reporting, digital receipt scanning, and transaction tracking.
Pricing
Here's their pricing at a glance:
- €20/month Standard Plan: Includes up to three Mastercard credit cards and access to expense management tools.
- €5/month Additional Card: For each extra card beyond the initial three.
- Free 90-Day Trial: Allows businesses to use the platform's features before subscribing.
Reviews
Available user feedback for Everestcard is limited, with reviewers raising concerns about reliability and responsiveness, citing issues like slow customer support and account access problems. Check out more Everestcard reviews here.
9. MuralPay
MuralPay is a financial technology company that focuses on international transactions, aiming to address issues related to outdated infrastructure and the unbanked population. The company provides a platform and API for businesses operating globally, with a particular focus on the Americas.
Its services are powered by stablecoins and include tools for pay-ins, payouts, invoicing, and compliance. The platform facilitates instant global payments, multi-currency invoicing, and virtual accounts for both traditional currencies and digital assets.
Pricing
MuralPay does not publicly disclose its pricing information on its website. The company offers a free demo, and interested businesses must contact them directly to receive pricing details tailored to their needs.
Reviews
User feedback indicates issues such as transaction processing delays, complications with compliance checks, and a complex interface on smaller devices. Check out more MuralPay reviews here.
10. Revolut
Revolut is a British financial technology company founded in 2015 that offers a range of banking services. These include current accounts, debit cards, stock and cryptocurrency trading, and peer-to-peer payments.
The platform facilitates the management and exchange of over 25 currencies and supports international transactions. Additionally, it provides team management tools like corporate cards with spending controls and integrates with various business software.
Pricing
Here's their pricing at a glance:
- From £10 per month Basic Plan: Provides essential features for running a business.
- From £30 per month Grow Plan: Offers additional tools to manage spending and operations.
- From £90 per month Scale Plan: Designed for businesses with higher transaction volumes and advanced needs.
- Custom Pricing Enterprise Plan: Pricing is tailored to specific business requirements.
Reviews
User feedback indicates some customers experience challenges with customer support and limitations in certain banking functionalities. Check out more Revolut reviews here.
Which One Should You Go With?
While each platform offers unique benefits, selecting the right one depends on your specific business requirements. If you're looking for a modern financial partner that understands the digital asset space and provides exceptional support, we recommend giving OneSafe a try. Sign up for OneSafe today and discover how we can simplify your company's financial operations.
