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Changelly is an instant cryptocurrency exchange based in Prague, Czech Republic. Unlike most exchanges, it primarily acts as the intermediary between cryptocurrency trading platforms and the trader.
Even though it is not regulated with any legislative board, it has gained the trust of its customers by partnering with other reputable cryptocurrency exchanges, such as Binance, Bittrex, Coinpayments, and more. The sole objective of Changelly is to provide a transparent, simple, quick and user-friendly interface to buy or exchange cryptocurrencies.
This Changelly review will analyse several aspects to provide you with an all-rounded detailed overview of the exchange and its services. Although Cryptimi does its best to provide you with accurate and updated information, we strongly recommend that you to visit their site, for any updates which might occur afterwards.
Yes! Generally, Changelly is considered a safe cryptocurrency exchange platform. It protects the account of its users using 2FA (Two Factor Authentication) so that it is almost impossible for fraudsters to steal information or to access your account. Data captured on their website is transmitted over the secure, HTTPS network. In addition, it doesn’t store sensitive information like credit card number, expiry date or CVV on its servers.
Since Changelly doesn’t provide an in-built wallet like many other exchanges, you must ensure that you are providing a valid wallet address in order to receive coins without difficulties. Providing an incorrect wallet address, or one which doesn’t support the token you are transferring might result in loss of funds.
Changelly is a digital cryptocurrency exchange that allows users to convert one cryptocurrency to another. It doesn’t set the price for the digital currencies itself. Instead, it uses a robot that fetches the rates from other large trading platforms, including Bittrex, Binance, Poloniex, and displays the best trading rate on the platform. This whole process is completed within a few milliseconds.
When buying or trading on Changelly you can choose between the Floating or Fixed exchange rates. The Floating rate provides the best possible trading fee since the exchange just adds their 0.25% fee on the price of the currency at the moment of purchase. However, you won’t know the precise cost of your purchase until it has been completed.
The Fixed rate provides you with the definite value of your purchase upon initiation, but at a slightly higher cost. This rate is especially ideal for serial traders looking to move a substantial value without the risk of unpredictable price fluctuations.
This feature is not available yet. You will need to set up a wallet on another platform before purchasing cryptocurrency from Changelly. The exchange does have integrations with a number of top wallet providers, including Trezor, Ledger, and Exodus.
With Changelly, it’s possible to buy Bitcoin (BTC) or Altcoins immediately after creating your account.
To create an account on Changelly, you must go through the following steps:
To log in to your Changelly account, follow the steps below:
Apart from the email address, Changelly doesn’t require any other documents from users to buy or exchange cryptocurrencies. Users can buy or exchange digital currencies immediately after creating the account. This places Changelly as one of the most reputable exchanges which let users trade cryptocurrencies almost completely anonymously.
Purchases made via credit or debit cards require your mobile number for verification purposes. The exchange also reserves the right to request verification documents to any users who process suspicious or a high volume of transactions.
With Changelly, users can buy 140+ cryptocurrencies including BTC, ETH, ETC, LTC, BCH, XRP, and many more using any fiat currency. Technically, the exchange will convert fiat currency to EUR or USD for processing the transaction.
Changelly also accepts cryptocurrencies as a payment option. In fact, the platform offers an extensive list of currency pairs, which means that you can easily convert Cardano for Maker without needing to go through multiple costly conversions.
It doesn’t charge any hidden fees but deducts a marginal fee of 0.5% for every crypto to crypto transaction.
Before you buy any cryptocurrency on the exchange you must ensure that you have a wallet which supports the particular token. Cold storage wallets such as the Ledger Nano S, and Trezor, or hot wallets, such as Coinbase Wallet, support a variety of tokens, allowing you to store all your funds in just one wallet. Once your transaction is successful you should receive your funds within 5-30 minutes, although longer delays are possible during busy periods.
This example explains how to buy Bitcoin (BTC) on Changelly with a credit card
This example shows how to buy Ethereum (ETH) using Bitcoin (BTC):
Once your Bitcoin (BTC) is received by Changelly, the equivalent Ethereum (ETH) will be sent to the recipient wallet address mentioned in the transaction. Usually, this process takes only 5-30 minutes and you will receive the coins once the transaction gets completed.
This example shows how to buy Ethereum Classic (ETC) on Changelly using a credit card.
This example shows how to buy Litecoin (LTC) using Ethereum (ETH).
Once your Ethereum (ETH) is received by Changelly, the equivalent Litecoin (LTC) will be sent to the recipient wallet address you indicated in the transaction.
This example shows how to buy Bitcoin Cash (BCH) using Bitcoin (BTC). Make sure you own a BCH wallet. Note that a Bitcoin wallet address does not support Bitcoin Cash.
Once your Bitcoins (BTC) are received by the Changelly, the equivalent Bitcoin Cash (BCH) will be sent to the recipient wallet address indicated in the transaction.
Currently, Changelly only allows you to cash out Bitcoin in exchange for EUR. With a Basic KYC account you can sell a minimum of EUR 250 and a maximum of EUR 10,000, however, if you upgrade to Advanced KYC you will be able to enjoy unlimited amounts. Transfers of EUR funds must be made to a SEPA account, and funds can take up to 3 working days to reach your account. Changelly charges a flat 5% free for crypto-to-fiat transactions.
If you would like to exchange other cryptocurrencies into fiat currency you should either convert them into Bitcoin through Changelly or transfer them to another exchange which supports a wider conversion range, such as Coinbase.
Changelly allows users to buy Bitcoin (BTC) along with 140+ Altcoins and cryptocurrency tokens. The top cryptocurrencies listed on the exchange are listed hereunder:
Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ethereum Classic (ETC), Bitcoin Cash (BCH), Dash (DASH), Ripple (XRP), Tether USD (USDT), Bytecoin (BCN), Monero (XMR), Cardano, Binance, DigitalNote (XDN), QuazarCoin (QCN), Dashcoin (DSH), Fantomcoin (FCN), Dogecoin (DOGE), NuBits (NBT), Next (NXT), Aeon (AEON), Radium (RADS), MaidSafeCoin (MAID), Factom (FCT), Synereo (AMP), Lisk (LSK), Expanse (EXP), NEM (XEM), Steem (STEEM), Ardor (ARDR), Stratis (STRAT), Augur (REP), Gulden (NLG), Zcash (ZEC), Zclassic (ZCL), Golem (GNT), Waves (WAVES), Qtum (QTUM), EOS token (EOS), 0x Protocol (ZRX), Bitcoin Diamond, Skincoin (SKIN), Icon (ICON), ProCurrency (PROC), Telcoin, Dent (DENT), Bankex (BKX), TrueUSD (TUSD), Smartcash, Hshare (HSR), Nexo (NEXO).
To get the full list of all the cryptocurrencies supported by Changelly, kindly visit their homepage and scroll to the bottom:
Changelly accepts users from almost all countries worldwide, including the UK, EU, parts of the US, Australia, and Canada.
You can open an account with Changelly from most countries in the world, with the exception of countries listed in the section below.
The current countries that are excluded from Changelly are those sanctioned by the United Nations. Users from other countries or US States might experience a restricted service.
Every cryptocurrency exchange will have its own fee structure and limits. Changelly is not an exception.
Changelly will deduct a fee for every trade made on your account as follows:
A 0.25% commission fee for every cryptocurrency transaction applies.
These are calculated in real-time and vary based on the cryptocurrency used and the load on the blockchain network. For Bitcoin, it is approximately 0.00085BTC, Ethereum is at 0.00042ETH and Litecoin has a fee of 0.003LTC.
When using cryptocurrencies, Changelly does not charge any deposit or withdrawal fees. However, if you buy digital tokens using a debit or credit card an applicable fee, normally of 5%, applies. If you sell Bitcoin for fiat currency, an addition 5% fee, which includes the bank charge to transfer funds to a SEPA account, applies.
Important Note – users must bear the Simplex fee of 5% (Simplex is responsible for processing the credit card transactions) and the additional Changelly Fee of 5% for buying digital currencies using the credit card.
Depending on your geographical location and account verification status, Changelly exchange has fixed certain limits for the first few purchases made using credit or debit cards. There are no limits for exchanging two cryptocurrencies.
EU & Other countries:
UK, USA, Australia and Canada:
There might be some slight variations depending on the fiat currency you choose.
Changelly allows its customers to use any of the payment methods listed below based according to their location.
Fiat currencies currently accepted by Changelly exchange are EUR, USD, and GBP. If your card is set to a different currency, your card issuer should automatically convert it to one of these currencies. An applicable exchange fee might be charged by your card issuer.
To protect its customer’s account from unauthorised access, Changelly Exchange offers 2FA (Two Factor Authentication) using Google Authenticator app. 2FA setting is enabled by default, which means that any kind of transaction will be completed only after entering the authentication code displayed in the Google Authenticator app on your phone. You may choose to disable this security feature, but it is highly recommended that you do not.
The fastest and most convenient way to get in touch with Changelly support is to use the live chat option. In case you experience any issues with your Changelly account, you can contact their live support by clicking the support link located at the bottom of their homepage. After filling the required fields on the form, click the Send Feedback button to send your query.
A representative will contact you within a few minutes to resolve your query. Otherwise, you can send an email to [email protected]. Apart from that, you can post your query on their official subreddit r/Changelly on Reddit platform.
Changelly exchange offers an Android application which allows you to buy and exchange cryptocurrencies at the touch of a button. The mobile application features all the functions and options of the desktop version, including customer support and over 150+ different coins and tokens.
Changelly is continuously improving its platform and has recently released several features which have been explained in this guide. At the moment, the exchange has not yet announced any upcoming developments, however, it is likely that an iOS application is probably in the works. To stay up to date with the latest Changelly news be sure to follow their blog and social media pages.
Both Changelly and Shapeshift offer the possibility of instant exchange for a large number of cryptocurrencies without requiring any documentation to verify the identity of users. Even though many of their features look similar (both have simple interfaces, they do not have an integrated wallet or accept deposits and support a variety of altcoins), there are some notable differences. For example, Changelly allows users to buy cryptocurrencies using credit or debit cards whereas Shapeshift doesn’t accept fiat-based payments. Regarding fees, Shapeshift doesn’t charge any kind of fee other than mining, whereas Changelly deducts a marginal fee of 0.25% for every transaction made. Like Changelly, Shapeshift also accepts members from all parts of the world.
Even though both exchanges allow users to buy top cryptocurrencies, Changelly gets a better rating than Coinmama in terms of the number of cryptocurrencies and payment options. For example, Coinmama lists only a limited number of digital currencies, whereas Changelly supports more than 150 altcoins on its exchange. Also, Coinmama doesn’t accept crypto payments, while Changelly provides an instant exchange of a wide range of cryptocurrencies. Regarding the fees, Changelly is more expensive when purchasing cryptos via credit card.
As you’ve read in this Changelly review, the platform is ideal for users to buy, exchange, and in the case of BTC, sell cryptocurrencies instantly. Thanks to its straightforward verification process, which requires no need to upload any documents, it only takes a few minutes to buy digital currencies on this exchange. Even though it charges high fees for buying cryptos using fiat currency, the crypto-to-crypto rates are very reasonable.
Hence, Changelly is really a great option for novice traders to get hands-on experience with cryptocurrency trading. On the other hand, it works well for the professional traders because they can instantly exchange any cryptocurrency without revealing their identity as the transactions are made anonymously. Additionally, it allows them to easily expand their coin portfolio. The only shortcoming Changelly has is their lack of an iOS app, which would really help a segment of their users to buy cryptocurrencies on the go.
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