Cryptocurrencies have become so popular that it’s not just a trend anymore. It has finally reached different countries across different markets. It’s not surprising that so many cryptocurrency platforms have appeared over the years.
There are so many options, it can be difficult to choose the right one. Each platform has its pros and cons, as well as its distinct features.
Changelly is one the most well-known cryptocurrency platforms. They are one of the most popular platforms on social media and forums.
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 will be looking at Changelly and its many 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 cover good points regarding Changelly. To see if Changelly is right for you, we recommend that you view their video.
If you prefer reading, we will start with Changelly’s overview and then move on to their features.
Before you go on, you may want to watch this video by Crypto Renegade on YouTube that gives a quick overview. Afterward, you will want to read the rest of our article for a more comprehensive review of Changelly.
Overview of Changelly Changelly Ally Qtum
Changelly was founded in 2013, but began to gain traction in 2016. They were also able to establish themselves fully in 2016. 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 does not hold liquidity. They are a non-custodial exchange. This also means that they don’t require deposits.
What are its features?
This section will focus on what makes Changelly so special. Most forums and groups often share how the platform has some of the most remarkable features.
Flat Exchange Fees
Many cryptocurrency platforms charge extra for each 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.
The website states that their flat fee is 0.5% per trade. You will pay 0.5% for every trade between cryptocurrencies.
It is lower than other cryptocurrency platforms. Moreover, they don’t charge additional fees. Every trade will result in a uniform deduction.
This does not apply to fiat currency trading. That’s why we recommend users check first about 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.
Despite this being the case, Changelly’s best feature is that it is still easy to use for beginners. There are fewer restrictions on where you can trade and the exchange interface is simple. Moreover, the 0.5% flat exchange fee is available for most of the trading styles.
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. All users need to add is their email address, and everything is set.
But for those worried if this makes your account easy to hack, don’t worry. They also employ a two-step authentication process so you can secure your transactions and your account. This simple step allows anyone to use their platform without compromising their security.
If you forget your account’s password, you can also recover it since they can send you what you need to do through your email.
Why is Changelly not requesting personal information?
This rule was put in place by Changelly to protect the privacy of each user. You only need to register with your email address and provide a valid wallet address. Your personal information is no longer required.
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. Because their choices are wider, there are less restrictions when it comes to selling and buying crypto.
If you want to find out which those 90 are, just go ahead and look it up on their Supported Currencies page. Among those 90, you’ll find the following:
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.
They also allow you to change between their 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.
Features a flexible Bitcoin buying system
Changelly supports as many as 90 cryptocurrency across the globe, as we have already mentioned. 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. You’ll see the type of currency that you have on the left. You can choose to have it in USD or EUR. This can be adjusted to match the crypto you wish to purchase.
After everything is set up, you just need to add the amount. Afterward, confirm the rate, and then you’re all 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.
After 4 days, you would be allowed to buy your first translation. 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 your bank transactions during your first week. You can only make three payments in the first week after you join Changelly. However, these won’t be necessary after the initial week. Currently, there are no payment limits per month.
How does Changelly work?
In the first week, Changelly allows each user to have one crypto wallet. 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 compare rates across different cryptocurrency exchanges to find the best. Changelly Ally Qtum
Once everything is settled, they will convert the money into the currency you chose. Here they will charge a 0.5% flat exchange fee. Afterward, they will convert it into crypto so they can send it to your second wallet.
Changelly, a cryptocurrency platform that makes trading easier by using AI. 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. There may be slight variations in the transaction depending on how you proceed with the exchange. So don’t be surprised if the rates aren’t the same as the computation. Changelly Ally Qtum
The good news is that, even though there may be differences, these discrepancies are minimal. These estimates are close to the real.
Are accounts required?
Changelly doesn’t require you to create an account to use their platform. They’ve done this to ensure they can protect each user’s privacy.
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.
However, you may need to undergo a verification process if you’re buying using your bank card. Changelly Ally Qtum
Pros and Cons
Below is a list of all the benefits and drawbacks to using Changelly. This will help you decide if it is right for you.
- Offers 0.5% flat exchange fee
- Registration is not required
- Live support available 24/7
- Flat exchange fees do not apply to other types of exchange
- Some people may find it slow.
Changelly is one the most recent crypto platforms. It is gaining popularity due to crypto’s increasing popularity and 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 makes it easy to navigate the platform and trade. You can see your past exchanges too. Changelly Ally Qtum
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. This is the best thing about it: they offer 24/7 customer support.
FAQ Changelly Ally Qtum
Is there a maximum or minimum amount that Changelly can accept?
Currently, Changelly doesn’t have restrictions regarding the maximum amount 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.
How long does it take for transactions to finish?
It takes around 5 to 30 minutes to process transactions. It takes longer to process transactions if the amount is higher.
What currencies does Changelly support
You can only buy cryptocurrencies in US Dollars or Euros.
Does Changelly have a withdrawal limit?
Changelly does not have a monthly withdrawal limit
What is a recipient’s address?
Your wallet address will be the recipient’s address. This should be the address to which Changelly will send your cryptocurrency coins.