Cryptocurrencies are now a booming trend. It is now available in many countries and on 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 of the most popular cryptocurrency platforms right now. They’ve been one of the most talked-about platforms across forums and social media.
Many users commented on how simple it was to use and how safe their transactions were. They support as many as 10 different cryptocurrency!
We will be looking at Changelly and its many features. We’ll also be talking about how it can be used and what makes it unique.
This post is very long. 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.
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 review. Afterward, you will want to read the rest of our article for a more comprehensive review of Changelly.
Overview of Changelly Changelly Vs Gdax
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. 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.
Apart from that, they have more than 90 altcoins that can be bought or exchanged. They even have a 60,000 BTC monthly turnover.
Changelly doesn’t hold liquidity. They are not a 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
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.
Their flat fee per trade is 0.5% according to the website. You will pay 0.5% for every trade between cryptocurrencies.
It is lower than other cryptocurrency platforms. They don’t charge any 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. Just be careful since it can be confusing to users. 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. There are fewer restrictions on where you can trade and the exchange interface is simple. 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.
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. The simple step they added allows anyone to use the platform without risking 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.
Is there a reason why Changelly doesn’t require 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.
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. Changelly supports up to 90 cryptocurrency. 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.
Includes a Flexible Bitcoin Buying System
As we mentioned before, Changelly supports up to 90 cryptocurrencies across the globe. It’s not surprising that Changelly accepts a wide range 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. The same goes whether your bank card is from a different region.
The whole process for buying crypto is also seamless and quick. 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. You can adjust this as well as the crypto you want to buy.
Once you have set up everything, all you need to do is 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.
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 Vs Gdax
After everything is settled they will convert your money into the currency of your choice. 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 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.
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 Vs Gdax
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 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 Vs Gdax
Pros and Cons
Here’s a summary of the advantages and disadvantages of 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 do not apply to other types of exchange
- Some people may find it slow.
Changelly is one the most recent 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 makes it easy to navigate the platform and trade. You can see your past exchanges too. Changelly Vs Gdax
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.
FAQ Changelly Vs Gdax
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.
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 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.