Changelly Exchange homepage

Changelly is an instant cryptocurrency exchange that has gained over 1.5 million users since 2015. Changelly was established in Czech in 2013. Its headquarters is still located in Czech.

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Background Information

Rating 4.5 / 5

Pros

  • Changelly is the largest offering of cryptocurrencies in the market
  • This exchange is trusted by thousands of users in the world
  • Competitive transaction fees
  • It is easy to use


Cons

  • The exchange charges higher rates for purchasing cryptocurrencies directly.

With over 1.5 million users, the Changelly exchange happens to be one of the instant cryptocurrency exchanges. Currently, this exchange has a monthly turn over of 60,000 BTC and is capable of processing over 15,000 transactions daily. Changelly has a long list of supported coins that users can trade on the platform. The Changelly exchange prides itself as the leading exchange when it comes to the security of accounts, fast transactions, an intuitive interface, exchange rates, and an easy to use exchange platform.

The developers of this exchange put great work into the development, it is one of the fastest crypto exchanges in the market. Transactions are processed in seconds, unlike others that will take minutes or even hours. The user-friendly nature of this exchange makes it perfect for beginners and also for institutional traders. Asides from offering its users the opportunity to exchange their cryptos for cryptos, they can exchange their fiat currencies for cryptocurrencies as well. This exchange was developed specifically for traders or users that are looking to get the best rates on all cryptocurrency conversion they carry out.

The exchange has been designed in such a way that it automatically suggests the best rates in the market to its users. The robot of this exchange is integrated into trading platforms like Poloniex and Bittrex, thus, helping it suggest the best possible rates in milliseconds. The volatile nature of the crypto market is why the Changelly exchange does not fix rates. This, in turn, enables the exchange to charge low commission fees for all trades.

Transaction Fees (Payment Methods)

As mentioned earlier, this exchange does not fix a rate for all transactions. The movement or volatility of the crypto market affects the rate charged on the exchange. This decision not to charge fixed rates is one that should be commended. If the exchange were to fix rates, the rates would have to cover market risks and digital currency volatility leading to high trading fees.

For crypto to crypto trade, Changelly charges 0.5% of all transaction cost. Like some exchanges, this exchange has partnered with Simplex a financial technology company that focuses on payment processing and fraud. For those seeking to purchase cryptocurrencies with their credit card, they will be charged 5% by the exchange and another 5% will be charged by Simplex to facilitate the transaction.

Security

This exchange sends funds instantly meaning that they will not in any way hold the funds of users. This security feature assures customers that their funds cannot be stolen. As an added feature, all accounts have been integrated with the Two-Factor Authentication system. This ensures that the accounts of users are safe from hackers.

The number of users on this exchange is another proof that it is safe. The exchange also encourages users to install the Google Authenticator application for added security.

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Usability

How It Works

Unlike most of the other exchanges, Changelly does not require users to create an account before they can make use of the conversion services. You will not be required to provide personal information nor verify them. All you will need is a valid wallet address. Those seeking to buy cryptocurrencies with fiat currencies either with their credit cards or through direct bank transfers will be required to verify their personal information before they do so.

Those buying cryptos with cryptos do not need to verify their information to do this. See image below to see how the Changelly exchange works.

Changelly Exchange how it works

How to Buy Cryptocurrencies On Changelly

Regardless of the coin you want to buy, buying cryptocurrencies on the Changelly exchange is quite easy. All that you have to do is visit the official website, then select the crypto you want to convert. For faster access, you can make use of the search feature to look for your desired crypto.

Simply enter the amount of crypto to be bought, followed by adjusting the coin on the right to your desired coin, then click on the “Exchange” button. You have to carefully confirm the coin and the amount to be bought before you click on the “Exchange” button. You have to paste your wallet address or scan the Quick Response (QR) code.

For those buying with credit cards, the exchange offers them the opportunity to buy over 35 different cryptocurrencies. The card to be used must have the 3D-secure. You can buy cryptos in two fiat or traditional currencies.

Offered Coins

The Changelly exchange gained so much popularity for the number of cryptocurrencies that it allows users to buy. These coins include;

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Zcash (ZEC)
  • Stellar Lumen (XLM)
  • Litecoin (LTC)
  • Dogecoin (DOGE)
  • Ripple (XRP)
  • Dash (DASH) and a whole lot of other cryptocurrencies.

Customer Support

This exchange is putting social media to good use. Customers can contact and lay their complaints on their social media platforms. Customers can also send them emails and be rest assured that they will get a reply.

The website on its own has a comprehensive, simple, precise, and well-articulated Frequently Asked Questions (FAQ) column that covers almost all questions users may have in mind.

Mobile Application

This exchange has a mobile application that customers can make use of. This application is compatible with the following operating systems;

  • Android
  • IOS
  • Web
  • Mobile device
  • Windows and more.

See image below to get an idea of how the mobile application looks like.

Changelly Exchange mobile application

Wrap up

The easy to use nature of this exchange makes it ideal for those seeking to quickly convert their crypto’s for another crypto. Although this exchange offers users the opportunity to buy crypto’s with fiat currencies, the charges or fees does not make the exchange the best platform for customers. The transaction speed and intuitive interface are the exchange’s best selling points.

This article was created for the sole purpose of informing the user. In no way is there any partnership or collaboration with the organisation, product or service mentioned in this article.

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REVIEW OVERVIEW
Security
Usability
Offered Coins
Transaction Fees
Mobile Application
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