Cryptocurrencies are now a booming trend. It has finally reached different countries across different markets. It’s not surprising that so many cryptocurrency platforms have appeared 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 the most well-known cryptocurrency platforms. 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. We’ll also be talking about how it can be used and what makes it unique.
This is quite a long post. This video is a better alternative. They also discuss Changelly. We recommend you watch their video to get insights regarding if Changelly is perfect for you.
For those who prefer to read, let’s start with Changelly’s overview before going into their features.
Before you go on, you may want to check out this video by Crypto Renegade on YouTube that gives a quick overview. After, you’ll want to read the rest of our article for a more comprehensive review.
Overview of Changelly Changelly Bank Account
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. Their company has more than 2,000,000 users and is well-known for not being hacked, fraudulent, or bugged.
They are also associated with MinerGate which is a well-established mining pool.
Its impeccable track record is one the most appealing features. It’s also one of the biggest reasons why so many users prefer it. They also have policies that promote trustworthiness, fairness, and transparency. The transactions you make with this platform are quick and easy.
They also have over 90 altcoins available for purchase or exchange. They even have a 60,000 BTC monthly turnover.
Changelly does not hold liquidity. They are a non-custodial exchange. They don’t require deposits.
What are its key features?
In this section, we’ll be looking into what makes Changelly unique. Many forums and groups share their appreciation for the unique features of Changelly.
Offers Flat Exchange Fees
Cryptocurrency platforms often add extra fees per transaction. Although this is understandable, it can reduce your profits by a significant amount.
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.
The rate is not as high compared to other cryptocurrency platforms. They don’t charge any additional fees. Every trade will result in a uniform deduction.
However, this does not apply to their fiat currency trading. That’s why we recommend users check first about the fees before trading. Just be careful since it can be confusing to users. You can always reach their support team if you’re not sure.
Despite this being the case, Changelly’s best feature is that it is still easy to use for beginners. The exchange doesn’t have a confusing interface, and there are lesser location restrictions. The 0.5% flat exchange fee applies to most trading styles.
Secures your Personal Information
Security has always been Changelly’s key selling point. They are known for exchanging altcoins without the need to add the user’s personal information. Users only need to enter their email address and all is well.
Don’t be alarmed since your account won’t be easily hacked. You can also protect your account and transactions with their two-step authentication process. The simple step they added allows anyone to use the platform without risking 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?
This rule was put in place by Changelly to protect the privacy of each user. All you need to do is register using your email and add a valid wallet address. You no longer need to submit your personal information that can be compromised.
However, you may need to add verification if you’re using a bank card to buy crypto. 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.
Many cryptocurrencies supported
Cryptocurrency platforms often focus on just a handful. 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.
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.
Features 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. It can be purchased in US Dollars or Euros depending on which currency your bank supports.
They will accept most cards, but they must 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. All you need to do is go to Changelly’s homepage. On the left side, you’ll find the type of currency you have. You can choose to have it in USD or EUR. You can adjust this as well as the crypto you want to buy.
After everything is set up, you just need to add the amount. Afterward, confirm the rate, and then you’re all done!
Are there Transaction Limits on Bank Cards?
If you’re planning to pay with bank cards, you will be imposed a limit on the first few transactions. 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. You’d then be allowed to purchase your initial translation up to $100. You can only have a $500 limit for 7 days following your first transaction.
Changelly will also limit bank transactions in 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?
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 compare rates across different cryptocurrency exchanges to find the best. Changelly Bank Account
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. They will then convert it into crypto and send it to your second account.
Changelly, a cryptocurrency platform that makes trading easier by using AI. It can be integrated into trading platforms like Poloniex or Bittrex.
When trading, the AI can either search platforms or make a bid. After it finds the best rates, the AI will calculate and post the results on the official Changelly site.
The rates provided by the AI are only estimates. Once you push through with the exchange, there may be slight differences in the transaction. So don’t be surprised if the rates aren’t the same as the computation. Changelly Bank Account
But the good news is that even if there are differences, the discrepancies are just minimal. These estimates are close to the real.
Are accounts necessary?
Changelly does not require that you create an account in order to use their platform. They’ve done this to ensure they can protect each user’s privacy.
When joining in, you won’t need to submit your personal information. 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 Bank Account
Here’s a summary of the advantages and disadvantages of using Changelly. This will help you decide if it is right for you.
- Offers 0.5% flat exchange fee
- No need to register
- Has 24/7 live support
- Flat exchange fees do not apply to other types of exchange
- Some people may find it slow.
Changelly is one of the newest 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. Moreover, you don’t need to register to start using 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.
They also offer a simple interface for users to use the platform. It allows you to easily navigate and trade. You can also see past exchanges. Changelly Bank Account
Changelly is the best choice if you are concerned about privacy and security. It’s also perfect for those who are planning to exchange using different cryptocurrencies. This is the best thing about it: they offer 24/7 customer support.
FAQ Changelly Bank Account
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 also depend on what cryptocurrency you’re using.
How long does it take for transactions to finish?
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?
You can only buy cryptocurrencies in US Dollars or Euros.
Is there a limit on the withdrawal amount for Changelly?
Changelly does not have a monthly withdrawal limit
What is a recipient’s address?
The recipient’s address will be your wallet’s address. It should be where Changelly will send your crypto coins to.