A regular crypto exchange typically requires:
- An account.
- Fees on deposits
- Fees on withdrawals
- Minimum deposit
- Minimum withdraw
This is a lot of overhead for crypto newbies or those who just don’t want to go through all the hoops.
Until very recently, it was simple to exchange relatively small token quantities without needing to deposit those funds into a KYC-ed exchange. Yes… of course… Changelly and other DEX-es have a rather unfavorable exchange rate… but the convenience was nice. And the fees on the regular exchanges are really priced for large volumes anyway.