A swap between cryptos, when you are cashing out in fiat, involves every satoshi, especially for freelancers who are paid monthly in cryptocurrency. Such people are obliged to cash out bulk amounts so as to cover living expenses. Professionals being paid in ETH will switch immediately to BTC, for example, then sell what they need to via localbitcoins.com. the case study in this article lies in the exchange rate when swapping a small amount of ETH to BCH ($100) and a larger amount of ETH to BTC ($2,000).
The Small Swap
Our freelancer was paid $100 in THE, which was about 0.49 ETH at the time of writing. our freelancer wants to swap to BCH, and spend it on swag in the Bitcoin.com.store. we will ignore the cost of sending ETH to a custodial or non-custodial exchange in each case, which is about 4 cents (quite negligible).
Using Changelly to perform the swap will give you 0.23482 BCH.
Binance will swap and give you 0.236 (withdrawal fee inclusive).
The custodial exchange option in this example will give you 0.0011 which equates to $7.40. Not a bad amount considering that you are only swapping $100 of crypto.
The Large Swap
Our second freelancer receives a wage of $4,000 in ETH a month and immediately swaps to BCH, having in mind to sell some P2P to cover living expenses. At the time of writing, $4,000 were 19.4 ETH, ignoring the negligible cost of sending ETH to a custodial or non-custodial exchange like in the previous case.
Using Flyp.me for the swap will get you 0.62216883 BTC.
Binance will give you 0.0630679 BTC (with the wBinance withdrawal fee taken into account).
The Binance method gives 0.00851017 BTC, or $53.35 at current prices, more than Flyp.me. swapping $4,000 of ETH for BTC a month through a custodial exchange over the course of the year would save you $640.20. it doesn’t mean it is the preferred option, because many crypto-owners would rather a little more just to enjoy the privacy following a non-custodial service.
Again, this review is not to be compared side by side. It took into consideration several non-custodial exchanges (Changelly and Flyp.me) and also different destination currencies (BCH and BTC). But the review was able to depict the kind of exchange rate that one should expect while dealing with either of the exchanges.