Changelly Review

Changelly 2023 Review: Fast and Secure Crypto Exchange for you?

TLDR

This Changelly Review provides an in-depth analysis of Changelly, a leading cryptocurrency exchange platform, exploring its features, services, and user experience.

Changelly is an exchange that allows users to swap and purchase crypto quickly, supporting about 500 crypto assets. It allows users to compare the prices of several crypto assets before trading.

Some of Changelly’s top perks include its accessibility, security features, and capacity to provide its users anonymity. Also, the service charges low fees on crypto-to-crypto trades, great customer support, and wallet integration.

Some of the service’s drawbacks include high minimum trade fees, high rates on fiat-to-crypto transactions, and limited trading options.

Changelly is available in almost every country, but to provide its users with some unique features, the service cannot follow some US regulations.

Introduction

Changelly is a non-custodial exchange that allows for the swapping and purchasing of over 500 altcoins and cryptocurrencies.

The exchange does this by comparing the prices and fees of several service providers such as Simplex, Banxa, and Moonpay, effortlessly allowing them to get the best deals on crypto assets.

As a result, Changelly differs from other cryptocurrency exchanges as its users do not swap or buy crypto directly from other Changelly users. Instead, it connects users with a service provider, allowing them to compare prices and fees across services.

Overview of Company

The exchange was developed in 2015 by Konstantin Gladych and Ilya Bere, the developers of MinerGate. Its head office is based in Prague, Czech Republic, and sub-offices in Malta and Hong Kong, with over 80 employees across its offices.

Changelly was developed to improve access to cryptocurrency and facilitate its mass adoption. As a result, the company works to remove common roadblocks to accessibility. The cryptocurrency exchange is constantly developing new features to improve users’ experience.

Changelly is available worldwide and in multiple languages. It also has a dedicated customer support team to help users with questions.

Currently, it has over 2.6 million users every month; it has a mobile app for Android and iOS devices and partners with several other exchanges, such as Binance and crypto.com, to provide the best service to its users.

Changelly Review: Who Should Use Changelly?

Changelly has several features that make it a great option for new and advanced crypto traders looking to overcome the challenges of complicated registration processes, web-only access, high fees, language barriers, complex user interface, and limited crypto assets.

Advanced crypto traders also prefer Changelly because it allows users to store their cryptocurrencies in a personal wallet address, ensuring the security of their assets.

For New Users

New users get help from the Changelly customer support team, which allows them to get answers to any questions they might have.

Changelly customer support can be reached through e-mail at [email protected]. In addition, you can visit the website’s knowledge base to find answers to common issues encountered by other users.

Furthermore, Changelly has an intuitive platform with a simple-to-use interface, allowing new users to access information and navigate easily. It also allows users to trade crypto assets easily and reduces the need for extensive training, enhancing user experience.

Geographical Availability

Although Changelly is available in about 200 countries worldwide for cryptocurrency purchase and exchange, it does not provide services to residents of these countries: Cuba, North Korea, Crimea, Sudan, The United States and its territories, Bangladesh, and Bolivia.

There are also restrictions on payment methods in some of its supported countries. For instance, the service does not accept bank account cards from some countries: The Bahamas, Botswana, Ghana, Iceland, Pakistan, Trinidad and Tobago, Yemen, Afghanistan, Zimbabwe, Mongolia, and Cambodia.

Also, it does not accept bank transfers from these countries: The Central African Republic, Cuba, Iran, Libya, Mali, North Korea, Afghanistan, Congo, Burundi, Iraq, Eritrea, Lebanon, Guinea-Bissau, Myanmar, Nicaragua, Somalia, Sudan, Yemen, South Sudan, and Syria.

Cryptocurrencies Supported

Changelly supports over 500 altcoins and cryptocurrency assets for its users to trade. The website also includes information on the various assets, such as availability, prices, and changes in the last 24 hours.

These are some of the cryptocurrencies that Changelly supports:

• Bitcoin
• Ethereum
• XRP
• Dogecoin
• Binance Coin
• Stellar
• Polkadot
• Tether
• AAVE
• FirstBlood
• ABBC coin
• The Abyss

What Makes Changelly a Good Choice?

Learn why you should consider Changelly as your go-to exchange in our in-depth Changelly Review.

Non-KYC exchange

Changelly is a good choice for various reasons, including anonymity and Non-KYC requirements. Changelly does not require any kind of verification or identification from its users. This allows users to trade freely on its platform without revealing personal information.

For many crypto enthusiasts, anonymity is a very important feature of trading platforms. In addition to protecting users’ details and financial data from identity thieves and hackers, anonymity also prevents third parties from tracking users’ preferences and interests.

Furthermore, anonymity allows users to buy and sell crypto without restrictions or censorship from banks and governments. As a result, users can support projects they believe in without fear of persecution.

Security

Because Changelly ensures the anonymity of its users, it can ensure a level of security. The risk of losing funds to theft, fraud, or confiscation is reduced anonymously. Also, attackers cannot target specific users or wallets based on balances or activity.

In addition to these, Changelly’s security team works to ensure the safety of its users and their funds by implementing some measures, including Anti-Money Laundering policies and 2FA and e-mail confirmations to protect user accounts and prevent unauthorized access.

Changelly, however, does not verify its users by default, only in certain cases when its risk prevention system flags suspicious transactions.

Generally, the service respects the privacy and anonymity of its users and asks for the minimum information necessary to verify their identity and the source of their funds.

Flexibility

Changelly grants its users unlimited transactions; this means that users can sell and purchase crypto as many times as they want in a day, although they will pay network fees for every transaction.

In addition, Changelly accepts and uses its users’ suggestions to understand what they need for the smooth running of the platform. This includes suggestions on which coins or ICOs should be added or removed from the platform.

Changelly Review: Biggest Drawbacks

Unfortunately, Changelly still has some drawbacks that affect its overall performance.

Lack of United States Regulations

Changelly is not licensed to operate in the United States. Thus, it may not comply with the local laws and regulations in the country, which poses significant risks for Changelly users in the United States. For instance, if a United States resident encounters an issue or dispute with the service, the country’s legal system cannot intervene.

Limited Payment Options

Although Changelly supports a wide range of depositing and withdrawal options for cryptocurrency conversions, it only supports a limited number of options to purchase crypto with fiat currencies.

These include credit or debit card Apple Pay, Google Pay, and bank transfer. It does not support more popular options like PayPal, Neteller, or Skrill.

Also, only three kinds of fiat currencies are supported by Changelly, including EUR, GBP, and USD. As a result, Cryptocurrency users must convert their local currencies into one of these to use Changelly.

In addition, Changelly does not support the conversion of cryptocurrencies to fiat currency directly into a bank account or card. Users of the Changelly exchange platform must use other platforms that support such options, such as Coinbase, LocalBitcoins, CoinFlip, or Wirex.

High Minimum Trades

Minimum trades are the smallest amounts of cryptocurrency that you can buy or sell on the Changelly exchange platform. It depends on network fees and the market conditions of each trading pair.

The platform allows users to check the minimum trade amount on each asset by clicking the [Amount] button when they choose a crypto pair.

Changelly’s minimum trade amounts are often high for cryptocurrencies with lower liquidity. This means that users may be unable to trade small amounts of crypto r may have to pay higher transaction fees when buying smaller amounts of cryptocurrencies.

High Fiat-to-Crypto Rates

Although Changelly is popular for its low fees, it charges relatively high fees and exchange rates when users buy crypto with fiat currency with a credit and debit card or via bank transfer. The fees vary depending on the service provider but generally range from 5-10%.

To ensure lower transaction costs when buying crypto with Changelly, the best option for users is to buy their crypto assets with funds from a crypto wallet.

Variable Exchange Rates

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Changelly’s variable exchange rate or floating exchange rate is a feature that causes the exchange rates to change constantly depending on network trading fees and the market conditions of the trading pairs. This means that the final amount of the crypto received may differ from the estimated fee at the start of the transaction.

Users may choose between the floating exchange or fixed exchange rate at the start of the transaction. Choosing the floating exchange rate option means you agree to accept the valid rate at the moment of the exchange.

On the other hand, choosing the fixed exchange rate option guarantees that the estimated fee at the beginning of the transaction remains the same, although it includes a small reserve fee.

However, the floating exchange rate option may be beneficial as it allows you to get the best possible rate on the market at the time of the exchange. However, it may also affect your profit if the market fluctuates unfavorably.

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How To Set Up a Changelly Account?

You can set up your Changelly account by following our simple steps.

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Tradable Coins

• 500+

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Fees

• 0.25% – 1%

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More details

If you want to trade crypto quickly, Changelly exchange is your best option whether a newbie or a pro. Changelly works in almost 200 countries worldwide and allows you to choose from over 500 altcoins and cryptocurrencies to trade. Some features may vary depending on location, but Changelly makes a strong candidate.

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  Simple user interface.

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  Accessibility features.

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  Withdrawal lists.

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  Fast transaction process.

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  Wide range of supported assets.

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  Limited payment options.

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  Lack of US regulations.

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  High minimum trades.

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  High fiat-to-crypto rates.

Step 1: Visit the Changelly Website

Visit the Changelly website to set up your account. Click the [Account settings] button on the top right corner of the Changelly home page.

Step 2: Create an Account

Click [Create an account] and enter a valid email address and password.

Step 3: Confirm your Email Address

A confirmation mail will be sent to you to validate your e-mail address. Click [Confirm].

Step 4: Exchange Cryptocurrency

Once your e-mail address is confirmed, you are directed to the Changelly interface to commence trading and cryptocurrency exchanges.

Changelly Review: Top Perks & Features

This section will review the top perks and features that Changelly Exchange offers users.

Simple User Interface

One of Changelly’s best features is its simple user interface, making it easy for new users to adapt. Its interface is user-friendly and hassle-free for people wishing to trade crypto quickly and safely.

The website has an intuitive and minimalist design that allows users to exchange cryptocurrencies in a few clicks. In addition, the service can be accessed via the Changelly mobile app, available on Android and iOS.

Nonetheless, on both platforms, cryptocurrency pairs can be easily swapped, estimated fees for the transaction can be assessed before the transaction, and floating or fixed exchange rates can be chosen easily.

In addition, Changelly integrates with various wallets like:

• Ledger
• Exodus
• Jaxx
• Coinomi
• Trezor
• Edge

This allows users to exchange cryptocurrencies from within the wallet without visiting Changelly’s website or mobile app.

Its customizable payment widget can also be embedded in other websites to allow visitors to exchange crypto easily without leaving the website.

Accessibility Features

Changelly offers several accessibility features to make the service more accessible and inclusive for people with functional needs. These features include keyboard navigation, text-to-speech, contrast mode, and various language options.

Changelly’s keyboard navigation feature allows users to move around the interface using the tab and arrow keys without a mouse. This is helpful for people with physical or visual impairments who have difficulties using a mouse or touch screen.

Its text-to-speech feature allows users with visual impairments or dyslexia to use a screen reader or voice assistant easily. The contrast mode also assists people with visual impairment to easily change the interface’s color scheme, increasing the contrast between the text and background.

Withdrawal List

One of Changelly’s best features is its withdrawal feature which allows users to create a list of trusted wallet addresses. This prevents users from sending funds to the wrong addresses by mistake or to a fraudulent wallet address under duress.

To enable the withdrawal list, from [Settings] on the home page, open the list tab and click [Enable list]. A confirmation link will be sent to your e-mail to confirm the action.

After confirmation, you will be given 12 hours to add all the addresses you wish to have on your list. Users can add a new address at any time, although they must confirm it via e-mail and wait 48 hours before they can withdraw funds again.

You can disable the withdrawal list by clicking the [Disable list]. However, you will also need to confirm this action via e-mail, and all withdrawals from your account will be suspended for 48 hours.

Fast Transaction Process

Changelly achieves fast transactions by using an automated trading bot. The bot is integrated with the most popular cryptocurrency exchanges, such as Binance and Bittrex, and utilizes them in performing transactions.

It also allows Changelly to get the best possible rates for its customers as the trading bot bids on different exchanges and selects the best exchange option for each transaction.

Wide Range of Supported Coins

Changelly has a wide range of supported assets for its users to purchase and exchange. The service supports over 500 cryptocurrencies and altcoins like:

• Bitcoin (BTC)
• Ethereum (ETH)
• Ripple (XRP)
• Litecoin (LTC)
• etc.

In addition, Changelly accepts requests from its users to include new cryptocurrencies for exchange.

Changelly Review: Fees

Crypto-to-Crypto Exchange Fees

Changelly charges a 0.25% flat fee for swapping one cryptocurrency for another. The fee is deducted from the final amount of the crypto received after the transaction is complete. Compared with other exchanges, Changelly charges relatively low fees with no hidden commissions.

Fiat-to-Crypto Exchange Fees

The service charges a variable fee when buying crypto with fiat currency using a card or bank transfer. The fee charged is depended on the payment provider used; Changelly provides its services through MoonPay, Banxa, and Simplex, and their service charges range from 5% to 10%.

Compared with other exchanges, Changelly’s fees for fiat-to-crypto exchange are relatively high.

Network Fee

Changelly charges a network fee for sending crypto to your wallet after a transaction. The fee depends on the cryptocurrency and may vary depending on the network congestion and market conditions. The fee is, however, not controlled by Changelly as it goes directly to the miners of the crypto asset.

Changelly’s Limits and Liquidity

The service’s limits depend on the kind of exchange rate and the payment method you choose at the beginning of the transaction. With the floating rate, users can exchange unlimited high-liquidity pairs such as Bitcoins and Ethereum.

On the other hand, fixed-rate transactions are limited since they involve a more complicated series of operations for Changelly to complete before processing the transaction.

Furthermore, purchasing crypto with a bank credit and debit card or bank transfer has a daily limit of $20,000 and a $50,000 monthly limit. All of the limits include different kinds of transaction fees and are measured every 24 hours.

Customer Support Team

Changelly offers its users 24/7 customer service for any questions or issues they might encounter while using the service, including security concerns, product inquiries, and collaboration opportunities.

The Changelly team offers support through e-mail or by submitting a ticket on their website. In addition, Changelly allows its users to browse through its knowledge base and its FAQ page for answers to its common questions.

Improvements

Changelly Exchange continues to improve its service to satisfy its users’ needs and remove the roadblocks to crypto accessibility. One such improvement is the launch of Changelly PRO, which offers advanced trading tools and allows for margin trading, perpetual futures trading, and sub-accounts.

Furthermore, the service has added new fiat and cryptocurrencies to their exchange and purchase options, including Dogecoin, USD coins, Cardano, etc.

The Changelly app was also improved to provide better customer service and user interface with a shorter response period and informative guide.

Changelly Review: Our Verdict

Changelly is an instant cryptocurrency exchange allowing users to trade and buy crypto quickly. It offers a wide range of crypto assets and charges low fees for crypto-to-crypto transactions and wallet integration.

The service also has some drawbacks, including high fees for fiat0to-crypto transactions, high minimum trade amounts, and limited payment options.

Overall, however, the service is satisfactory, allowing users to trade easily and quickly with great customer service in case of any issues.

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