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.
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 of the most popular cryptocurrency platforms right now. 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 post is very long. If you prefer to watch instead, then check out this video. They also cover good points regarding 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’ll want to read the rest of the article for a more comprehensive review.
Overview of Changelly Changelly Wikipedia
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 which is 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. The transactions you make with this platform are quick and easy.
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 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. 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. Although this is understandable, it can reduce your profits by a significant amount.
Although this is a controversial topic to many, altcoins fees are one of the main reasons that 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. 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. 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. 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. They are known for exchanging altcoins without the need to add the user’s 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. 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.
Is there a reason why Changelly doesn’t require personal information?
Changelly imposed this rule to protect each user’s privacy. 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.
If you use a bank card to purchase crypto, however, you might need to add verification. 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
Cryptocurrency platforms often focus on just a handful. 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.
You can find the list of supported currencies on their website. 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. You can exchange between different cryptocurrencies without having to undergo a lot of processes.
You can also change between supported cryptocurrencies. You can suggest that Changelly add your token. All you have to do is complete a form and email it to them.
Includes 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. 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.
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?
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.
Then, you’d be allowed to purchase your initial translation after 4 days. 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. In total, you can only make 3 payments on the first week you’ve joined in. However, these won’t be necessary after the initial week. Currently, there are no payment limits per month.
In the first week, Changelly allows each user to have one crypto wallet. 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 Wikipedia
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. Afterward, they will convert it into crypto so they can send it to your second wallet.
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.
The AI can search for platforms and make bids when trading. 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. 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 Wikipedia
The good news is that, even though there may be differences, these discrepancies are minimal. These estimates are close to the real.
Are accounts necessary?
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 Wikipedia
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
- No need to register
- Has 24/7 live support
- Flat exchange fees do not apply to other types of exchange
- It can be slow for some
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. 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.
They also offer a simple interface for users to use the platform. It allows you to easily navigate and trade. You can see your past exchanges too. Changelly Wikipedia
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 Wikipedia
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 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 does not have a monthly withdrawal limit
What is the address of a recipient?
The recipient’s address will be your wallet’s address. It should be where Changelly will send your crypto coins to.