Today, in this Changelly review, we will discuss and study the numerous Changelly available options.
Imagine that you have ten different cryptocurrencies in ten different wallets. It is a very awkward situation – it takes a long time to get access to all of them.
The best thing to do in a situation like this is to exchange them for one specific currency, such as Bitcoin. To do this, you need a cryptocurrency exchange. But how to choose the right one?
A cryptocurrency exchange needs to be secure and, at the same time, run smoothly so that it can attract new users. The Changelly cryptocurrency exchange has been doing well for some time, so we’ll see if Changelly is worth our attention, how secure it is, and what fees it charges. In general, we will analyze Changelly reviews and talk about how to use Changelly for cryptocurrency trading.
Changelly Review: What is Changelly?
If you are reading this article, you are most likely already familiar with cryptocurrencies and how they usually work. With that in mind, you’re presumably aware that if you need to trade one cryptocurrency for another rapidly (i.e., Bitcoin for Ethereum, XRP for Dogecoin, etc.), you have to rely on a cryptocurrency exchange platform.
In most cases, these platforms are owned by huge companies that specialize in providing crypto exchange services for a fee. In return, they offer security, anonymity, and the safety of funds.
You need to be sure that the cryptocurrency exchange you choose is safe and that trading fees do not eat into your deposit – it’s simple, right?
As the popularity of cryptocurrencies has grown over the years, so has the demand for good and trusted cryptocurrency trading platforms. The more such platforms appear, the stronger the competition for audience attention becomes – and the more they must adapt to a changing market. Some exchanges succeed; others fail and disappear as quickly as they appeared.
In addition, a variety of Changelly reviews on various sites appeared for a reason. Changelly has managed to garner quite a bit of attention. The vast majority of the cryptocurrency community is already aware of this platform.
Being one of the popular platforms, it is only natural that it is often interesting. People are wondering, Is Changelly safe? Is Changelly legal? And I will help you decide on the answer to these questions.
The Changelly cryptocurrency exchange is a very popular platform. It is an exchange without the ability to store cryptocurrencies – this means that it has no liquidity and does not require any deposits. It makes Changelly one of the safest options for trading.
Changelly was founded back in 2013. It was created by the team of the famous mining pool – MinerGate. Currently, Changelly and MinerGate are two independent companies.
The company began to gain momentum in 2016 – since this period, the cryptocurrency exchange has become completely independent. The platform now has over 2 million users and has an impeccable track record for bugs, scams, and hacks.
Currencies and Payment Methods
With Changelly, it is possible to change fiat currencies into cryptocurrency and transfer funds account in your cryptocurrency. It’s a digital currency exchange that is fast, secure, and accessible to anyone across the globe.
Changelly offers a variety of withdrawal and deposit options for the conversion of cryptocurrency, but it is quite restricted to withdrawing and depositing fiat currency. Indeed, users can’t sell their cryptocurrency through Changelly to get fiat money and only for another cryptocurrency.
Users can buy cryptocurrency with credit or debit cards from any country, in any currency. However, transactions are either conducted in USD or Euro.
Compared to other exchanges that only support a few cryptos, Changelly supports over 150 different cryptocurrencies.
You can also transfer Bitcoin and another cryptocurrency to your Changelly wallet before making transactions.
Changelly fees have been discussed as one of the main attraction factors for which this cryptocurrency exchange is famous.
On their official website, Changelly highlights offering a flat fee of 0.5% per trade. When you trade cryptocurrencies, the company charges you 0.5% of the traded amount. The argument here is that the same does not apply to fiat currency trading.
Changelly is accepted worldwide except for the below countries.
Cuba, North Korea, Iran, Syria, Crimea, Sudan, United States of America (including all USA territories like Puerto Rico, American Samoa, Guam, Northern Mariana Island), and the US Virgin Islands (St. John, St. Croix).
Getting Started: How Does Changelly Work?
To register on the Changelly website, click on the user icon in the upper right corner. A window will open where you can select the authorization option, but since there is no account yet, click Create an account.
Then choose a convenient option from those offered. You can go through the standard registration procedure by email or log in through Facebook, Google, or Twitter services. Click on the desired option and confirm the connection in the pop-up window.
Go to the Trade section and click “Start” to do this. Create a password. Confirm email.
Verification on Changelly
Verification on the platform is not required. Why you can go through it:
- To reduce commission fees (the higher the trading volume, the lower the commission).
- To increase withdrawal limits.
- To easily restore access to Changelly PRO if you lose access to 2FA or forget your password.
- To get full access to all the functions of the exchange.
Verification does not affect the use of the Changelly exchanger, and the requirement applies only to the exchange.
To verify your account, go to the trading section and click on the gear in the upper right. Then select the KYC tab.
You will need to specify:
- First name
- Last name
- Date of birth
- Residence address
- Photographs of an identity document (passport/driver’s license/another national document)
- Selfie with an ID in hand and a piece of paper with the inscription “for Changelly PRO”
- Phone number
If you are checking from a computer, prepare all the photos in advance, as there is no function for switching to a mobile device during the verification process. After submitting, wait for a response from the Changelly team.
Here in the settings, you can see account levels on the Account Verification tab. A registered user first receives Starter status after verification – Trader, and to get Pro status, personal interaction with platform operators is required.
- Starter – withdrawal 1 BTC per day, 5 BTC per month
- Trader – withdrawal 50 BTC per day, 500 BTC per month
- Pro – withdrawal without limits
To fund your trading account on Changelly PRO, you can use the Wallet and Buy Crypto sections. Or click the green Deposit button at the top of the screen. Choose the option – Deposit Crypto (deposit cryptocurrencies) or don’t have crypto? (It will be offered to buy assets directly from the card or via Apple Pay/Google Pay).
- Go to the Wallet section, where all cryptocurrencies are listed.
- Click Deposit in line with the desired cryptocurrency.
- Transfer coins to the specified address or uses the QR code. It would help if you transferred strictly the currency that is selected.
- Crediting requires network confirmations; their number is individual for different coins, and for BTC, one confirmation is enough.
- Go to the Buy Crypto section.
- Select the fiat currency for payment and enter the amount.
- Select the received cryptocurrency.
- Select a Payment Method. For example, currently, you can pay in USD through the payment provider.
- Click Continue.
You will be transferred to the payment provider’s website, where you will need to register and provide information about yourself (if this has not been done before) and then confirm the withdrawal of funds.
Changelly PRO is a convenient platform equipped with quite standard trading tools. Among them:
Price chart of the selected currency pair. You can choose another pair in the Markets section to the right of the chart.
You can customize the display of the chart, zoom in or out, or switch to a chart from the Trading View analytical platform (this option is more familiar to many).
Changelly PRO supports two types of orders: market and limit. The limit order book is located at the bottom right.
The history of the latest transactions on the platform is located next to the field for creating orders.
Margin transactions are available only after passing KYC and enabling 2 FA in the site settings.
You will also need to transfer money from the main account to the margin account. Setting a margin order is almost the same process as usual. Order types are the same.
The purchasing power limits the volume of the placed order, that is, the amount of margin multiplied by the leverage value. You can add more funds to your margin or remove assets from it at any time.
The maximum leverage is 12x.
You can trade perpetual contracts on Changelly PRO (Futures section).
To trade, you must first reserve a certain amount of Tether (USDT), which will serve as collateral for the transaction. USDT must be transferred to a futures account; you cannot use this amount parallel in spot trading.
The next step is to set the margin.
Available Order Types:
The latter is a set of small independent orders in a certain price range. The trader himself sets the range. Orders are automatically distributed in ascending or descending order from the minimum to the maximum price.
Periodically, trading competitions with cash prizes are held on the platform.
To withdraw money from Changelly PRO, go to the Wallet section. Click the Withdraw button next to the desired cryptocurrency.
- The amount of funds withdrawn.
- Receivable (calculated automatically, minus commission).
- The address of the crypto wallet where you transfer assets.
- Click Withdraw and confirm the operation.
- Withdrawal is possible only in cryptocurrency.
Changelly: The Fast and Cheap Currency Exchange
The exchanger is located on the main page of the Changelly website. You can buy many popular cryptocurrencies for fiat money by paying with a card. All fiat currencies are supported. You can also convert one cryptocurrency into another.
The process is extremely simple. When exchanging cryptocurrency for cryptocurrency, select the currency to give and receive, enter the amount, and click “Exchange. “Specify the details for receiving funds.
During the exchange process, you can fix the exchange rate. Due to the market’s high volatility, it may happen that while you are placing an order, the exchange rate changes dramatically, and the total amount is lower (or higher) than expected. When finished, pay the application.
When selling crypto for fiat, the payment provider is used. Enter the exchange amount, confirm your agreement with the user agreement and click “Sell. “Sign in to your selected service provider and pay with your card, Google Pay, or Apple Pay if supported in your country.
When buying a cryptocurrency, there is an opportunity to choose from several payment providers, considering the availability and their conditions. Click “Buy Now” and pay for the application, after which the coins will go to the wallet address you specified.
There is straight 0.25% commissions charged by the Changelly.
On the exchange:
- There are no deposit fees.
- The withdrawal fee is fixed; it is indicated for each coin in the wallet.
- The liquidation fee for margin trading is 0.5% of the position’s value.
- Trading commissions – from 0 to 0.1%, depending on the user’s 30-day trading volume.
Is Changelly a scam?
Changelly is an exchange with more advantages than disadvantages. The creators have tried to give the user the product he needs. The service offers a variety of cryptocurrencies (the whole truth about cryptocurrencies) and tokens available for exchange at the best rate.
Buying coins is possible for fiat money. The first benefit mentioned by the user is that registration takes very little time. Further, stay on the site, and buying or selling do not carry any threats since authentication occurs twice.
The menu of the exchanger is well-formulated, and the search for any necessary information is fast and convenient. The client does not have to search for the optimal exchange rate for cryptocurrencies on other sites – all this is done automatically.
Experienced users can monitor fluctuations in the exchange rate of any currency on the main page of the exchanger. The required coin is entered into the appropriate column, after which the exchange will offer all the ways to make a profit on thematic sites.
Confirmation of transactions is quite fast, although users sometimes complain about technical failures that cause delays. At the same time, the speed of response to complaints is very high so that the client will not be left alone with his problems.
The commission is modest, but even here, there are dissatisfied customers. Since the commission is calculated twice, some users are sure that it should be reduced or partially canceled. Of the minuses, users note the not-too-simple procedure for exchanging cryptocurrency for fiat and the inability to immediately transfer money to a personal bank card of their country.
In addition, the translation of the menu into all languages listed in the relevant section is still ongoing, although the Russian language page is 90% available to customers.
The feedback from traders (mostly positive) and the successful operation of the site for more than a year indicate that the exchange is not a scam or a scam; all transactions are confirmed and performed quickly enough.
Integration into other resources and an active affiliate program also indicate the intention of the developers to keep up with the times.
All this could not but lead to the dynamic growth of the permanent customer base, which has long exceeded 300 thousand people.
The service has been a popular platform for traders for over a year; users worldwide use it to conduct small and large transactions and leave positive reviews much more often than negative ones. Full transparency of the resource allows you to talk about the reliability and security of data.
- Cryptocurrency instant exchange services.
- Built-in crypto exchange.
- Margin and futures trading.
- Lots of supported assets.
- Verification is not required.
- Possibility of replenishment using cards (rubles are not available).
- Low commissions.
A small selection of fiat to buy cryptocurrency on the exchange.
The rate is slightly below the market.
The Changelly: FAQ’s
Is Changelly.com legit?
Changelly is a reliable and secure cryptocurrency exchange platform. The company is constantly improving, not only when it comes to adding new altcoins for exchange (already 100 coins are available), but also by providing users with a better user experience. Therefore, the company is improving both in terms of exchange and security.
How long does it take to exchange to Changelly?
Changelly transactions can take anywhere from 5 to 30 minutes to complete. The time depends on the amount of the transaction. If the amount is more than 1 BTC, it will take longer.
Is Changelly safe?
Changelly is a secure crypto exchange platform. There has not been a single security issue in the history of Changelly. Since it exposes its widgets and APIs to various services, you can use the Changelly service directly from your wallet.
Does Changelly accept fiat currency?
You can use three fiat currencies when buying crypto, including USD, EUR, and GBP.
What are the main features of Changelly?
Changelly does not require any personal information when exchanging your altcoins; they offer a flat commission of 0.5% per trade and 100 different altcoins. Also, if you have questions, you can take advantage of their 24/7 customer support.
Can you use Changelly in the US?
Yes, users from all over the world can use Changelly. Also, don’t worry about the currency, as Changelly accepts any currency. It is quite useful for international users.
Changelly is a high-quality and convenient platform for buying/selling cryptocurrencies quickly and easily. Quite competitive commissions, a large selection of cryptocurrency assets, and a functional built-in crypto exchange.
The exchanger has been operating for more than seven years, so it deserves trust; although there are negative reviews, we know that disputes occur with absolutely every service.
The service support must be very fast and competent enough to help solve a problem or answer a question. With all the advantages, you need to understand that this is a centralized service, so you should not trust large amounts or store them on the exchange.