When you want to swap an unlimited amount of any crypto to another instantly and without having to:
- create an account,
- complete KYC,
- look for and compare the best rates yourself on all exchanges, etc,
…you use the services of instant crypto exchanges like StealthEX.
These exchanges route your trade through multiple centralized and even decentralized exchanges to get you the best rates.
Your coins are never stored on the platform and the transactions usually take only a few minutes.
In this post, I would be reviewing one of these instant cryptocurrency exchanges named StealthEX.
We would be looking at how legit they are and how to use their platform for your limitless instant crypto swaps.
What is StealthEX?
StealthEX is an instant cryptocurrency exchange that helps you to convert any amount of crypto to another in 4 simple steps.
The platform is connected to 4 major cryptocurrency exchanges, including, Binance, Huobi, KuCoin, and HitBTC where it scouts for the best rates for your trade.
StealthEX prides itself as the easiest place to swap your crypto assets for another, and its simple layout and 4-step exchange process aren’t disappointing.
That’s not all, the exchange supports buying crypto with fiat currency using your bank card.
The StealthEX team
There’s not much public information about the StealthEX team and founders. But their chief marketing officer (CMO), Maria Carola, is the face and voice of the company.
How does StealthEX work?
StealthEX allows you to swap one crypto for another or buy crypto with fiat using your bank card.
Below is how to use StealthEX both for your token swaps and crypto purchases.
How to use StealthEX to swap your crypto
Here’re the 3 simple steps to swap your tokens on StealthEX and the specific actions you need to take.
Step 1:
Go to their website, select the token you have, and enter the amount you want to convert.
Next, select the token you want to swap it to. You’ll see the estimated amount of the token you’ll receive.
If you’re ok with the rate, click the START EXCHANGE button to continue as shown in the screenshot below.
Step 2:
Provide the wallet address where you want your token to go after the swap, and click the NEXT button to continue as shown below.
On the next screen, you will be asked to confirm the transaction details. If you’re satisfied, click NEXT to continue.
Step 3:
StealthEX will generate a wallet address for you where you have to send the exact crypto amount stated on the previous screen as shown below.
Once the transaction is confirmed on the blockchain, your swap would be executed and the coin sent to your receiving wallet address.
PS: The wallet address above is owned and controlled by StealthEX and within those few minutes you’re waiting for the swap to complete, they have control over of your asset.
How to use StealthEX to buy crypto
From the StealthEX homepage, click the Buy tab to buy crypto with your bank card.
You will be asked to choose the currency and the amount you want to spend and the coin your want to buy from the drop-down menus.
You’ll be shown the estimated amount of the token you’ll receive for your money. If you’re ok with the rate, click the START EXCHANGE button to continue.
On the next screen, you will be asked to paste the wallet address where your coin will be sent. Once done, click the NEXT button to continue.
On the next screen, you’ll be asked to confirm the transaction to be sure that the amount you want to spend, what you’ll receive, and your wallet address are all correct.
If you’re sure, click the NEXT button to continue.
Then you’ll be asked to read and accept their terms of service for buying crypto with fiat. Make sure to actually read it to avoid surprises.
Once you’re done reading and accepting their terms of service and privacy policy, click the PROCEED WITH EXCHANGE button to continue.
On the following screen, you will be required to agree to their terms once more.
Then you’ll be asked to provide your email address
A verification code would be sent to your email address which you need to copy and paste into the box provided to verify your email.
Once done, you will be asked to enter your card details and complete KYC if you’re buying more than €900 worth of crypto.
However, if you’re buying €900 worth of crypto or less, you’re not required to submit any proof of identity.
Your crypto purchase with fiat on StealthEX is processed by their payment partner, Mercuryo.
Check out their A to Z guide on how to buy crypto with your bank card using Mercuryo for more details.
Where is StealthEX located?
StealthEX headquarters is said to be located at с/о Hermes Corporate Services Ltd., Fifth Floor, Zephyr House, 122 Mary Street, George Town, Grand Cayman KY1 1206.
This is according to the information on their website. They also claim to be a multinational brand with office locations around the world.
Features of StealthEX
StealthEX was launched in 2018, making it one of the earliest and long-standing instant crypto exchanges out there.
Some of its unique features and advantages include:
- Great selection of cryptocurrencies, as it offers over 450 different crypto assets.
- Fast transaction settlement. Transactions on StealthEX take between 5 to 60 minutes after the deposit is confirmed.
- Non-custodial platform. Your coins are never stored on StealthEX.
- No limits. You can swap any amount of supported coins on StealthEX as many times as you want.
- Floated and fixed exchange rates. You can set your swap to use flexible or fixed exchange rates as it suits you.
- Great support. The support team is very responsive and helpful.
- Anonymous, private, no KYC. As long as your wallet address is not associated with your real-life identity, and you’re not buying crypto with fiat, your privacy is secure on StealthEX.
- Simple user interface (UI). The website is simple, clean and easy to use.
StealthEX fees
StealthEX charges a trading fee of 0.4% on the total swap amount in addition to the blockchain network fees and trading fees of the exchange where your trade was executed.
These fees are calculated and included in the original rate you see when you initiate a swap on the site.
Is StealthEX legit
Yes. StealthEX is legit because it’s a duly registered company and has been operating since 2018 without any case of scam.
Furthermore, 88% of 88 reviewers on Trustpilot rate the platform as excellent. And all negative reviews were responded to and resolved.
So, the platform does seem to be very legit.
What are the risks of using StealthEX?
Regardless of a platform’s legitimacy, there’re always associated risks to be aware of especially in this crypto jungle.
Below are the risks you’re exposed to when you decide to use the StealthEX platform.
- If the founders decide to walk away today with any crypto control within their control, there’s little to no way of finding them, because they’re not known.
- You can be required to complete KYC if your transaction is deemed suspicious for any reason.
- You’re subject to the terms of service which I’m sure you will not read and can be changed by them without notice.
No, it doesn’t mean these will happen, but they’re all potential risks you’re exposed to.
Conclusion
Instant crypto exchanges like StealthEX are the middle ground between centralized and decentralized exchanges and offer you the benefits of both worlds.
The platform is simple to use with a great focus on customer satisfaction and privacy, which is why most users like them.
However, you must know that the founders and CEO’s identity is not publicly known.
And there’s a short window of time between when you send your crypto and when you receive them that the platform maintains custody.
Other than that, everything about the platform looks amazing to me.
What’s been your experience with StealthEX? Share with us in the comments section below.