Over the past few months, the crypto community went through several significant security breaches. One of the most widely reported was the hack of the Kraken centralized exchange (CEX). In June 2024, a zero-day vulnerability allowed attackers to exploit a flaw in Kraken’s website, resulting in the theft of $3 million in crypto assets.
This incident is part of a larger trend of vulnerabilities plaguing centralized exchanges. According to Immunefi, losses from hacks and security breaches in the crypto sector have skyrocketed in 2024, with more than $656 million stolen in the first half of the year. Specifically, in the second quarter of 2024, two projects account for 62.8% of the losses alone: DMM Bitcoin and BTCTURK, both CEXs. There’s a significant increase from previous years which highlights the growing abilities of cyber criminals and the need for more secure trading and exchange solutions.
More and more users are looking for non-custodial solutions to protect their assets. As a non-custodial exchange, StealthEX operates on a fundamentally different model than centralized platforms like Kraken. Here’s a closer look at how StealthEX is setting the standard for secure and private crypto swapping in 2024.
TL;DR
StealthEX is an instant cryptocurrency exchange that focuses on privacy and works directly between wallets. Renowned for its non-custodial approach, registration-free exchanges, and unlimited and effortless cross-chain swaps, StealthEX allows users to exchange digital assets across different blockchains securely, anonymously, and without the need for complex bridging mechanisms.
1. Is StealthEX Safe?
StealthEX key focus
StealthEX is a leading non-custodial crypto exchange that prioritizes user control and security. By removing registration requirements and avoiding custodial holdings, StealthEX significantly reduces the risk of third-party intrusion while allowing users to maintain full control over their assets.
User Privacy and KYC: StealthEX handles regulatory compliance while respecting user freedom. Unlike CEXs, it doesn’t require KYC processes for crypto-to-crypto transactions. Users can swap cryptocurrencies without revealing personal information.
Fiat-to-Crypto Swaps: StealthEX simplifies fiat-to-crypto purchases through third-party partners. Users can buy crypto without KYC for amounts under $700 (or equivalent in other currencies).
Security: StealthEX’s custody-free approach ensures that user funds are never stored on the platform. Transactions happen directly between wallets, minimizing security breaches. As a result, StealthEX boasts a clean record with no reported incidents of asset theft or hacking.
Remember that KYC and AML procedures may still apply if a user’s wallet is blacklisted by liquidity providers (LPs) or if suspicious activities are detected by StealthEX’s risk prevention system.
2. Industry Recognition
StealthEX boasts a TrustPilot rating of 4.6 out of 5 stars. It also benefits from extensive press coverage in top publications like Benzinga, Coincodex, and NewsBTC.
StealthEX’s media partnerships, including the ones with Crypto Daily and Coinpedia, further add to its reputation.
Plus, StealthEX CEO Maria Carola is a regular contributor to Bitcoin Magazine, The Daily Hodl, and CoinChapter, and is often asked for her expert insights on current market trends by major outlets like Cointelegraph.
3. StealthEX Services
StealthEX’s web app makes it simple for users to swap 1500+ cryptocurrencies in a private manner. The platform’s user-friendly interface is designed to meet the needs of both experienced traders and those new to crypto. It allows everyone to swap their assets with confidence, regardless of their level of expertise.
Plus, Android users can swap on the go with a dedicated mobile app, while an iOS app is underway to make the StealthEX platform accessible to more users.
Currently, StealthEX offers over 900,000 exchange pairs, including popular combinations such as SOL to ETH, BTC to ETH, ETH to BNB, and BTC to XMR. You can swap as many coins as you want with its limitless cross-chain swapping capabilities.
StealthEX also simplifies the process of purchasing digital assets by enabling direct transactions with fiat currencies such as the Pound Sterling (GBP), US Dollar (USD), Euro (EUR), and 30+ others. You can pay with Visa, Mastercard, Google Pay, or Apple Pay.
4. StealthEX Rates and Fees
StealthEX exchange rate options
StealthEX integrates with multiple LPs, guaranteeing competitive prices and rates. Users can choose between floating and fixed exchange rates based on their risk profile:
Floating Exchange Rate: Adjusts in real-time according to crypto price dynamics.
Fixed Exchange Rate: Provides stability in volatile markets, protecting against sudden fluctuations.
No matter the selected rate type, StealthEX calculates the fee and provides a transparent estimate to their customers before starting a transaction so that they can make an informed decision to exchange their crypto assets.
Users can expect the StealthEX fee between 0.4% and 1% for each executed swap. The fees vary depending on the currencies you choose and the amount you want to swap. StealthEX never adds any extra or hidden fees on top.
5. Mobile App
The StealthEX mobile app makes it easier for Android users to access and use the non-custodial platform, even when they’re on the move.
The app has a simple, easy-to-use interface that mirrors the web version, making it a great tool for newcomers and experienced users.
StealthEX Android app
The app also benefits from the core features of the StealthEX platform, including 1500+ cryptocurrencies, registration-free exchanges, and unlimited swaps with support for both floating and fixed rates. Moreover, it enables users to seamlessly connect with their wallets via a WalletConnect feature and has a built-in support chat for reporting any exchange-related issues.
StealthEX Android app
The app has the same rigorous security measures while ensuring user privacy and anonymity. Additionally, integration with payment processors makes buying cryptocurrency in-app with fiat more convenient.
6. Customer Support and Reviews
StealthEX support page
StealthEX provides a comprehensive support hub where users can access a consolidated repository of helpful articles. This resource includes step-by-step guides that cover a range of potential issues that might come up during the exchange process. If you need more personalized assistance, you can submit a detailed ticket to the support team.
User feedback on StealthEX
The effectiveness of StealthEX support is reflected in the consistent positive feedback from users. Customers acknowledge the prompt and professional customer service that operates 24/7, the human touch in responses, and the exceptional response times. StealthEX’s commitment to transparency in issue resolution, alongside its avoidance of cumbersome KYC procedures, further enhances user satisfaction.
7. Tools for Affiliates
StealthEX extends its affiliate program to anyone, whether they’re a content creator, web developer, or crypto enthusiast, who wants to leverage their online presence for financial gain.
The program includes several user-friendly tools:
a public API to seamlessly integrate StealthEX’s exchange services into web applications,
referral links to generate passive income from transactions by referred users,
an exchange widget that allows affiliates to embed a full crypto exchange experience directly into their websites,
buttons for streamlined transactions that turn referrals into profit,
and customizable banners to visually promote and earn crypto from visitor exchanges.
8. Reviewing StealthEX Alternatives
There are several advantages and trade-offs when comparing StealthEX to similar platforms like Changelly and ChangeNOW.
Both StealthEX and Changelly claim that they offer crypto exchanges without the need for identity verification. However, while StealthEX operates in accordance with its privacy-centric model, Changelly is often noted for imposing a selective KYC process. One user shared on TrustPilot: “I have used Changelly for many years, but now their KYC checks are active, it makes the platform completely unusable. You provide all the identity checks required, but they then expect you to try and identify the source of the funds. This is potentially fine if you’re new to crypto, but not if you’ve been invested for years.”
Moreover, some report long wait times for resolution when selected for identity verification, with another user stating “I have been disputing with the support for over 1 month.” Not to mention that there are customers who find their accounts locked even despite providing all the required KYC documentation.
Comparing StealthEX to ChangeNOW also reveals differences. While ChangeNOW supports over 1,000 assets and 50,000 currency pairs, StealthEX offers a selection of 1,500 assets and 900,000 pairs, giving users more variety and flexibility. In addition, ChangeNOW’s customer support seems to be inferior to that of StealthEX, as evidenced by reviews from users who experienced poor assistance with their exchanges: “It turned out to be a three-day adventure for a relatively small amount from Hashpack to reach Solflare. What’s worse is that no one gave me any meaningful information on where you got to, instead I got evasive answers.”
9. How to Exchange Crypto on StealthEX
StealthEX exchange process
Select the cryptocurrencies you wish to exchange and specify the amount, with the option to choose fixed-rate swaps for precise transactions.
After clicking “Start Exchange,” continue by entering the wallet address where you want to receive the exchanged cryptocurrency. It’s crucial to ensure the accuracy of the address and any required extra ID (e.g. Memo, Tag) before clicking “Next”.
Transfer the deposit to the provided address, in the exact amount displayed. Once StealthEX receives the deposit, it immediately processes the exchange.
Then, StealthEX completes the transaction by sending the exchanged coins directly to your wallet.
10. How to Buy Crypto on StealthEX
StealthEX crypto purchase process
Begin by navigating to the “Buy Crypto” section on the StealthEX website.
From there, select your desired fiat currency and the cryptocurrency you wish to acquire.
Enter the amount of fiat currency you want to exchange and view the estimated amount of cryptocurrency you will receive.
Once you’re ready, initiate the exchange by clicking on “Start Exchange.
Next, you’ll need to choose a preferred payment provider and enter your crypto wallet address.
Review all the transaction details carefully and proceed to the Confirmation page.
Click “Next” to move forward to the Exchange page where you’ll be prompted to accept the Terms of Service and continue with the selected payment provider.
If required by the payment provider, complete any necessary identity verification steps.
Once the purchase is confirmed and processed, the cryptocurrency will be transferred to your wallet.
You’ll receive an email containing transaction details such as the debited fiat amount and the cryptocurrency received.
Final Words – What’s Next for StealthEX?
In a volatile market environment riddled with security breaches on centralized exchanges, StealthEX as a non-custodial platform offers a great solution to this pain point. By prioritizing user control and security through direct wallet-to-wallet transactions, StealthEX ensures that assets remain safe from the vulnerabilities that plague some exchanges.
With a commitment to transparency, extensive asset support, and intuitive usability, StealthEX not only meets but sets new standards for secure and private crypto swapping in 2024. Future plans for the platform include fine-tuning partner tools, introducing more liquidity providers, and expanding the list of available fiat and crypto assets.