Cryptocurrencies are now a booming trend. 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 post is very long. This video is a better alternative. They also cover good points regarding 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 continue, you may want to watch this video by Crypto Renegade on YouTube that gives a quick overview. After, you will want to read the rest of our article for a more comprehensive review of Changelly.
Overview of Changelly Changelly Versus Krake
Changelly was founded in 2013, but began to gain traction in 2016. They were also able to establish themselves fully in 2016. 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, 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. Moreover, they have policies that support trustworthiness and fairness. The transactions you make with this platform are quick and easy.
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 not a custodial exchange. They don’t require deposits.
What are its key features?
This section will focus on what makes Changelly so special. Many forums and groups share their appreciation for the unique features of Changelly.
Offers 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. So every time you trade between cryptocurrencies, 0.5% of that will be deducted from you.
The rate is not as high compared to other cryptocurrency platforms. They don’t charge any additional fees. You can expect a uniform deduction every time you trade.
This does not apply to fiat currency trading. We recommend that users verify 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.
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. The 0.5% flat exchange fee applies to most 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. 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 will vary depending on which bank you use. But this step is unnecessary if you’re going for crypto to crypto conversion. For that, bank verification won’t be needed.
Supports many cryptocurrencies
Many cryptocurrency platforms are focused on just a few. With Changelly, they can support up to 90 cryptocurrencies. Their choices are more diverse, so there are fewer limits when it comes to buying and selling crypto.
You can find the list of supported currencies on their website. 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.
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
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 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. The same goes whether your bank card is from a different region.
The whole process for buying crypto is also seamless and quick. All you need to do is go to 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. 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. After you confirm the rate, you are done!
Are there Transaction Limits on 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. 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. 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. Currently, there are no payment limits per month.
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 Versus Krake
Once everything is settled, they will convert the money into the currency you chose. Here they will charge a 0.5% flat exchange fee. They will then convert it into crypto and send it to your second account.
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. After it finds the best rates, the AI will calculate and post the results on the official Changelly site.
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. Don’t be surprised that the transaction rates may differ from the calculation. Changelly Versus Krake
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 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.
You won’t need to provide any personal information when you sign up. All you need is your email and a valid wallet address.
If you are buying with your bank card, however, you might need to go through a verification process. Changelly Versus Krake
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.
- Offers 0.5% flat exchange fee
- No need to register
- Live support available 24/7
- Flat exchange fees are not applicable to any other type of exchange
- It can be slow for some
Changelly is one of the newest crypto platforms. It is gaining popularity due to crypto’s increasing popularity and secure trading.
You won’t have to give them any personal information so there is no risk in trading. 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.
In terms of using the platform, they also have a clean interface. It allows you to easily navigate and trade. You can also see past exchanges. Changelly Versus Krake
Changelly is the best choice if you are concerned about privacy and security. 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.
FAQ Changelly Versus Krake
Does Changelly have a maximum and a minimum amount?
Changelly does not currently have any restrictions on the maximum amount that you can exchange. Changelly will inform you if the minimum is 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. The higher the amount, the longer it will take.
What types of currencies does Changelly support?
Only US Dollars and Euros are accepted for cryptocurrency purchases.
Does Changelly have a withdrawal limit?
Changelly doesn’t 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.