Review on Switcheo by Gabriel Medina
Switcheo makes it easy to exchange NEO currencies
Switcheo (SWTH) is a cryptocurrency that is linked together with a decentralized NEO blockchain exchange that facilitates the exchange between cryptocurrencies based on NEO. Despite this, they aim to achieve a decentralized exchange network with cross-chain exchange capabilities between multiple popular chains.
Switcheo being a decentralized platform, users will not have to create an account. Anyone who owns a NEO wallet will be able to connect by using their wallet's private key and exchange all of their NEP-5 tokens.
This exchange is completely decentralized based on NEO, thus, it remains safe from hacking attempts of the kind that centralized exchanges are exposed to every second of the day. Furthermore, it does not store user funds in their own wallets and gives the user complete control by integrating their existing NEO wallet within their platform, Switcheo never holds funds.
It has a direct message interface through its support platform, where the team responds to you in a few hours. In addition, the team is also active on social networks such as Telegram and Reddit.
In conclusion, it is an optional platform for the exchange of NEP-5 tokens, but due to the lack of mobile applications, certain users already accustomed to applications from other exchanges are prevented from using it.
Pros
- It makes it easy to switch between NEO-based cryptocurrencies.
- Switcheo does not charge any withdrawal fees to its users at all.
- Registering with Switcheo is easy if you are already a user of the NEO blockchain.
- Simple and easy to use exchange.
- Customer service responds in a few hours via direct message from their platform.
Cons
- The platform is not available through a downloadable desktop or mobile application.
