Changelly is one of the most popular services that provide a secure, inexpensive way to trade cryptocurrencies. It is a unique platform that differs from others in the market for its easy conversion between a large number of crypto assets. It also allows purchasing cryptos with fiat money in several currencies.
In this review, let us take a closer look at the exchange to learn more about its offerings, benefits, and limitations. We discuss all you should know about Changelly before getting started with it.
Changelly Review – Updated 2022
Changelly is a cryptocurrency brokerage and exchange platform where you can buy, sell and convert between a large number of cryptocurrencies. It was introduced in 2015 with a focus on providing a streamlined, fast experience for crypto investors.
The company has since then expanded to serve over 2 million users per month and support more than 170 crypto assets. With an easy-to-use platform and a wide range of supported tokens, this exchange offers you an opportunity to trade profitably in cryptocurrencies.
Features
Ease of Use
Changelly’s intuitive interface and straightforward functionality make it easy to get started, even if you have never used exchange in the past.
You just need to enter the cryptocurrency you have in the wallet and the crypto you want to exchange it with. Changelly displays how many tokens or coins you receive after the swap and the exchange rate.
Once you fill out the order form, you can also see the network fee and the exchange fee to track how much you are spending before initiating the conversion. The service even provides you an estimated completion time based on the network condition and congestion.
Wide Range of Cryptocurrencies
With support for almost 200 types of cryptocurrencies, the exchange provides you with a simple way to buy and sell cryptos of your choice. It supports a huge range of coins and tokens ranging from smaller offerings like Komodo and Ravencoin to more popular Bitcoin and Ethereum.
It also comes with support for fiat currencies ranging from Egyptian Pound to USD to appeal to those who are new in the market. You simply choose your currency, specify the amount you want to invest, and receive the best market rates available and where you can use them.
Integration
Changelly integrates with a wide range of third-party wallet services including Edge, Exodus, Trezor, Jaxx, and Ledger.
Users who want a convenient way to control their keys for cryptocurrency would find this exchange ideal. You can securely exchange cryptocurrencies directly from the wallet without losing control of keys.
Mobile App
The crypto exchange offers a responsive mobile app available for download on iOS and Android devices.
The app has a user-friendly, intuitive design that allows users to convert between cryptos on the go. It even comes with options for fixed and floating exchange rates as found on the website.
Payment Options and Currencies
Changelly supports more than 140 cryptocurrencies, making it easier to exchange any two currencies quickly without any hassle.
While traditional platforms generally have a limited selection of trading pairs which requires users to make a number of transactions at times to get the desired crypto.
Changelly is different as it allows you to make your own trading pairs using the cryptocurrencies supported on the platform, in a single transaction.
Though the provider offers a host of options for making deposits and withdrawals between cryptocurrencies, it is quite limited when it comes to making transactions in fiat money.
Changelly has recently added support for fiat currency with the inclusion of credit/debit cards. This means you can make card purchases from any country in any currency but the transaction is done in USD or Euro.
Limits and Liquidity
With Changelly, there is no limit on the exchange of cryptocurrencies. You can convert one crypto to another as often and as much as you want; this creates a highly liquid market. However, there are limitations when buying crypto with fiat currency varying by nation and region.
For example, residents of Canada, US, and Australia can make the first transaction under $50 and the next purchase can be made in 4 days (less than $100) and for $500 after 7 days. While there is no monthly limit, you can’t make more than 3 payments in the first week.
People living in the CIS region, on the other hand, are limited to $200 for their first transaction. They can purchase after 24 hours with a limit of $2000 for the first week and $10,000 for the first month.
Users from the EU and other nations are limited to $100 for the first transaction. They can make another purchase of under $200 after 4 days and $500 after 7 days. There are no limits after this.
Supported Countries
Changelly accepts users from all the countries around the world and accepts payments in any currency but it gets converted into USD or Euro.
However, users from certain countries like North Korea, China, Bangladesh, Iran, Guam, and others cannot use the exchange for trading due to regulations surrounding cryptocurrencies. It is also not licensed to operate or regulated in the United States.
Privacy and Security
Changelly is an attractive option for those who like maintaining anonymity. The exchange does not require any verification or ask for any government documents like some other platforms.
You just need to provide your email that is never shared with third parties. The absence of verification steps ensures your identity is always safe.
As the company is backed by the MinerGate team, you can expect it to guarantee complete safety and security. The exchange gets the tokens to and from the user wallet and does not store them anywhere. To add an extra layer of security, user accounts are protected with a two-factor authentication system.
Customer Support
Changelly offers pretty impressive customer support as compared to others in the industry. You can get in touch with customer service in several ways including email and a support ticket system.
It is also one of the few crypto exchanges to offer round-the-clock live chat support that gets you an instant response on any concern you may have.
The platform also has an informative FAQ section that provides answers to some of the most common questions. Moreover, the website gives clear instructions on how to use different services.
Pros
- Low crypto-to-crypto exchange fees
- Easy to use
- Wide selection of cryptocurrencies
- 24×7 live chat support
- Beginner-friendly
- Integration with wallets
- Impressive liquidity and limits
- Intuitive interface
- Safe and secure
Cons
- No phone support
- Limited payment options
- Not regulated in the United States
- High fiat-to-crypto fee
- High minimum trade amount
Final Thoughts
With an intuitive interface, an impressive selection of crypto assets and fiat currencies, and a lot of options to customize the experience, Changelly makes an excellent platform for the purchase and exchange of cryptocurrencies.
Whether you are a beginner looking to get started with crypto investing or a seasoned investor interested in plenty of coin offerings and high buying limits, Changelly is sure to appeal to you.
