Alt Coins Through Changelly Vs Binance

changelly-review

Cryptocurrencies have become so popular that it’s not just a trend anymore. It has finally reached different countries across different markets. That’s why it’s no surprise that many cryptocurrency platforms have popped up over the years.

But with so many available, choosing the right one can get tricky. Each platform has its pros and cons, as well as its distinct features.

Changelly is one of the most popular cryptocurrency platforms right now. They’ve been one of the most talked-about platforms across forums and social media.

Most users have commented how easy it is to use and how secure their transactions are. They support as many as 10 different cryptocurrency!

We’ll be taking a closer look into Changelly and all its features. Apart from that, we’ll be discussing what makes it different and how you can use it.

This is quite a long post. If you prefer to watch instead, then check out this video. They also discuss Changelly. To see if Changelly is right for you, we recommend that you view their video.

For those who prefer to read, let’s start with Changelly’s overview before going into their features.

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Before you go on, you may want to check out this video by Crypto Renegade on YouTube that gives a quick overview. After, you will want to read the rest of the article for a more comprehensive review of Changelly.

Overview of Changelly Alt Coins Through Changelly Vs Binance

Changelly was founded in 2013, but began to gain traction in 2016. This was also the year that they were finally able to fully establish themselves. Apart from having more than 2 million users, their company is known for being free from hackings, frauds, and bugs.

They are also associated with MinerGate, a well-established mining pool.

Their spotless track record is one of the most attractive features. This is also why many users love it. Moreover, they have policies that support trustworthiness and fairness. This platform makes it easy and quick to make transactions.

They also have over 90 altcoins available for purchase or exchange. They also have a monthly turnover of 60,000 BTC.

Changelly doesn’t hold liquidity. They are a non-custodial exchange. They don’t require deposits.

What are its features?

In this section, we’ll be looking into what makes Changelly unique. Most forums and groups often share how the platform has some of the most remarkable features.

Flat Exchange Fees

Cryptocurrency platforms often add extra fees per transaction. While this is understandable, it can take away a considerable portion of your profit.

Although it Is a controversial topic, flat exchange fees are the most significant reasons why so many people choose Changelly.

Their flat fee per trade is 0.5% according to the website. So every time you trade between cryptocurrencies, 0.5% of that will be deducted from you.

It is lower than other cryptocurrency platforms. Moreover, they don’t charge additional fees. You can expect a uniform deduction every time you trade.

However, this does not apply to their fiat currency trading. We recommend that users verify the fees before trading. It can be confusing for users so be cautious. If you aren’t sure, you can always contact their support team.

Although that is the case, the good thing about Changelly is that it’s still the best for beginners. The exchange doesn’t have a confusing interface, and there are lesser location restrictions. Moreover, the 0.5% flat exchange fee is available for most of the trading styles.

Alt Coins Through Changelly Vs Binance

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Secures your Personal Information

Changelly’s main selling point has been security. You can exchange altcoins with them without having to provide any personal information. Users only need to enter their email address and all is well.

But for those worried if this makes your account easy to hack, don’t worry. You can also protect your account and transactions with their two-step authentication process. This simple step allows anyone to use their platform without compromising their security.

You can also retrieve your password if you forget it. They can send you the information via email.

Why is Changelly not requesting personal information?

Changelly imposed this rule to protect each user’s privacy. You only need to register with your email address and provide a valid wallet address. You no longer need to submit your personal information that can be compromised.

If you use a bank card to purchase crypto, however, you might need to add verification. This may also vary, depending on the bank you’re using. But this step is unnecessary if you’re going for crypto to crypto conversion. Bank verification is not required for this purpose.

Supports many cryptocurrencies

Many cryptocurrency platforms are focused on just a few. Changelly supports up to 90 cryptocurrency. Their choices are more diverse, so there are fewer limits when it comes to buying and selling crypto.

If you want to find out which those 90 are, just go ahead and look it up on their Supported Currencies page. These are some of the supported currencies you will find:

Because they have one of the most extensive lists for a crypto platform, changing between them is also easy. It is possible to exchange different currencies without going through a lot of steps.

You can also change between supported cryptocurrencies. If you want to suggest adding your token to Changelly, all you need to do is fill a form and send it to them.

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Includes a Flexible Bitcoin Buying System

As we mentioned before, Changelly supports up to 90 cryptocurrencies across the globe. Having that feature, it’s no surprise that they accept a variety of bank cards. You can also buy it either in US Dollars or Euros, depending on what currency your bank supports.

They accept most types of cards; however, they need to be 3D-Secure. Keep in mind, however, that any bank transactions or payments you make should be made in Euros and US Dollars. It doesn’t matter if your bank card comes from another region.

It is easy and fast to buy crypto. Simply visit Changelly’s homepage. On the left side, you’ll find the type of currency you have. It’s either in EUR or USD. This can be adjusted to match the crypto you wish to purchase.

After everything is set up, you just need to add the amount. After you confirm the rate, you are done!

Is there a limit on the amount of transactions that can be made with bank cards?

You will have to limit the number of transactions you make with your bank card if you plan on paying by it. If your bank is from Canada, the USA, or Australia, your trades will have a $50 limit on the first transaction.

Then, you’d be allowed to purchase your initial translation after 4 days. This time, you’d be allowed to have a $100 limit. You can only have a $500 limit for 7 days following your first transaction.

Changelly will also limit bank transactions in your first week. In total, you can only make 3 payments on the first week you’ve joined in. These payments will not be required after the first week. There are currently no monthly payment limits.

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How does Changelly work?

Changelly will allow each user one cryptocurrency wallet within the first week. They will choose which crypto trade would be best at the given time using the amount you specified along with the type of cryptocurrency you’re using. It will search for the best rates within different cryptocurrency exchanges. Alt Coins Through Changelly Vs Binance

Once everything is settled, they will convert the money into the currency you chose. This is where they charge their 0.5% flat exchange fee. Afterward, they will convert it into crypto so they can send it to your second wallet.

Changelly is a cryptocurrency platform that uses AI to make the best out of trading. It’s integrated on trading platforms such as Poloniex and Bittrex.

When trading, the AI can either search platforms or make a bid. Once it searches for the best available rates, it will estimate and post it on the official Changelly website.

However, the rates are just the AI’s best estimates. Once you push through with the exchange, there may be slight differences in the transaction. Don’t be surprised that the transaction rates may differ from the calculation. Alt Coins Through Changelly Vs Binance

The good news is that, even though there may be differences, these discrepancies are minimal. The estimates are not too far off from the actual.

Are accounts necessary?

Changelly doesn’t require you to create an account to use their platform. This is to protect the privacy of each user.

You won’t need to provide any personal information when you sign up. You will only need your email address and a valid wallet address to join.

If you are buying with your bank card, however, you might need to go through a verification process. Alt Coins Through Changelly Vs Binance

Pros and Cons

Below is a list of all the benefits and drawbacks to using Changelly. This list should make it easier for you to decide whether it’s right for you or not.

Pros

  • Offers 0.5% flat exchange fee
  • Registration is not required
  • Has 24/7 live support

Cons

  • Flat exchange fees do not apply to other types of exchange
  • Some people may find it slow.

Last Thoughts

Changelly is one of the newest crypto platforms. It’s gaining popularity because crypto has become more popular and because they offer secure trading.

They don’t ask for your personal information, so you won’t be risking much whenever you trade. You don’t even need to register in order to use their platform. All you need to do is to add your email and a credible digital wallet. As long as you have these, then you’ll be good to go.

In terms of using the platform, they also have a clean interface. It allows you to easily navigate and trade. You can see your past exchanges too. Alt Coins Through Changelly Vs Binance

In summary, Changelly is perfect for you if your primary concern is security and privacy. Changelly is also ideal for people who plan to exchange different cryptocurrency. The best part about this is that they have 24/7 customer support.

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FAQ Alt Coins Through Changelly Vs Binance

Is there a maximum or minimum amount that Changelly can accept?

Changelly does not currently have any restrictions on the maximum amount that you can exchange. As for the minimum, Changelly will notify you if it’s too low. It will depend on which cryptocurrency you are using.

What is the average time it takes for transactions to be completed?

Transactions take between 5 and 30 minutes. It takes longer to process transactions if the amount is higher.

What types of currencies does Changelly support?

Only US Dollars and Euros are accepted for cryptocurrency purchases.

Is there a limit on the withdrawal amount for Changelly?

Changelly doesn’t have a monthly withdrawal limit.

What is a recipient’s address?

Your wallet address will be the recipient’s address. It should be where Changelly will send your crypto coins to.

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