Cryptocurrencies are now a booming trend. It is now available in many countries and on different markets. That’s why it’s no surprise that many cryptocurrency platforms have popped up over the years.
There are so many options, it can be difficult to choose the right one. Each platform has its own pros and cons as well as unique 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. Moreover, they support up to 10 different cryptocurrencies!
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.
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.
Overview of Changelly Changelly Vs Shapeshif
Changelly started back in 2013 but gained traction during 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.
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. This platform makes it easy and quick to make transactions.
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 not a custodial exchange. This also means that 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. 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.
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. That’s why we recommend users check first about the fees before trading. It can be confusing for users so be cautious. 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. 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. 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. They also employ a two-step authentication process so you can secure your transactions and your account. 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.
Is there a reason why Changelly doesn’t require 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.
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.
Many cryptocurrencies supported
Many cryptocurrency platforms are focused on just a few. With Changelly, they can support up to 90 cryptocurrencies. 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. These are some of the supported currencies you will find:
They have the largest list of crypto platforms, making it easy to exchange between them. You can exchange between different cryptocurrencies without having to undergo a lot of processes.
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
Changelly supports as many as 90 cryptocurrency across the globe, as we have already mentioned. 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. 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. 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. The $500 limit will only be allowed 7 days after your initial 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. There are currently no monthly payment limits.
How does Changelly work?
Changelly will allow each user one cryptocurrency wallet within the first week. They will decide which crypto trade is best for you based on the amount and type of cryptocurrency that you have. It will compare rates across different cryptocurrency exchanges to find the best. Changelly Vs Shapeshif
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 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.
The AI can search for platforms and make bids when trading. Once it searches for the best available rates, it will estimate and post it on the official Changelly website.
The rates provided by the AI are only 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 Shapeshif
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. 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.
However, you may need to undergo a verification process if you’re buying using your bank card. Changelly Vs Shapeshif
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
- Registration is not required
- Live support available 24/7
- Flat exchange fees are not applicable to any other type 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. You only need to enter your email address and create a digital wallet. These are all you need to be able to use your digital wallet.
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 Shapeshif
In summary, Changelly is perfect for you if your primary concern is security and privacy. 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 Vs Shapeshif
Does Changelly have a maximum and a minimum amount?
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.
What is the average time it takes for transactions to be completed?
It takes around 5 to 30 minutes to process transactions. 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.
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.