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.
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 the most well-known cryptocurrency platforms. 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 is quite a long post. 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.
If you prefer reading, we will start with Changelly’s overview and then move on to their features.
Before you continue, you may want to check out this video by Crypto Renegade on YouTube that gives a quick overview. Afterward, you will want to read the rest of the article for a more comprehensive review of Changelly.
Overview of Changelly Currencies Not Available Changelly
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.
Their spotless track record is one of the most attractive 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 also have a monthly turnover of 60,000 BTC.
Changelly does not hold liquidity. They are a non-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
Cryptocurrency platforms often add extra fees per 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. Moreover, they don’t charge additional fees. You can expect a uniform deduction every time you trade.
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. 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. 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. 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.
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.
Why is Changelly not requesting 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. 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.
Many cryptocurrencies supported
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.
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. You can suggest that Changelly add your token. All you have to do is complete a form and email it to them.
Features 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. 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. Simply visit 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.
Once you have set up everything, all you need to do is 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. Your trades with banks from Canada, Australia, and the USA will be subject to a $50 limit.
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. 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. 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 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. Currencies Not Available Changelly
After everything is settled they will convert your money into the currency of your choice. 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 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. Don’t be surprised that the transaction rates may differ from the calculation. Currencies Not Available Changelly
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 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.
When joining in, you won’t need to submit your personal information. 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. Currencies Not Available Changelly
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
- Live support available 24/7
- Flat exchange fees do not apply to other types of exchange
- It can be slow for some
Changelly is one of the newest 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. 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 makes it easy to navigate the platform and trade. You can see your past exchanges too. Currencies Not Available Changelly
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. The best part about this is that they have 24/7 customer support.
FAQ Currencies Not Available Changelly
Is there a maximum or minimum amount that Changelly can accept?
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?
Transactions take between 5 and 30 minutes. The higher the amount, the longer it will take.
What types of currencies does Changelly support?
You can only buy cryptocurrencies in US Dollars or Euros.
Does Changelly have a withdrawal limit?
Changelly doesn’t have a monthly withdrawal limit.
What is the address of a recipient?
The recipient’s address will be your wallet’s address. This should be the address to which Changelly will send your cryptocurrency coins.