Cryptocurrencies are now a booming trend. It has finally reached different countries across 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 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.
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 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 watch this video by Crypto Renegade on YouTube that gives a quick review. After, you’ll want to read the rest of our article for a more comprehensive review of Changelly.
Overview of Changelly Exchange Ripple Changelly
Changelly started back in 2013 but gained traction during 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.
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.
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
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.
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. 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.
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. 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. They also employ a two-step authentication process so you can secure your transactions and your account. This simple step allows anyone to use their platform without compromising 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. Your personal information is no longer required.
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
Many cryptocurrency platforms are focused on just a few. Changelly supports up to 90 cryptocurrency. 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:
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. 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. 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. You should also keep in mind that whatever bank payments or transactions you do should only be in Euros or US Dollars. It doesn’t matter if your bank card comes from another region.
The whole process for buying crypto is also seamless and quick. All you need to do is go to Changelly’s homepage. On the left side, you’ll find the type of currency you have. You can choose to have it in USD or EUR. This can be adjusted to match the crypto you wish to purchase.
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. 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 bank transactions in your first week. You can only make three payments in the first week after you join Changelly. These payments will not be required after the first 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. Exchange Ripple Changelly
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, a cryptocurrency platform that makes trading easier by using AI. It’s integrated on trading platforms such as Poloniex and 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.
However, the rates are just the AI’s best estimates. Once you push through with the exchange, there may be slight differences in the transaction. So don’t be surprised if the rates aren’t the same as the computation. Exchange Ripple Changelly
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 does not require that you create an account in order to use their platform. This is to protect the privacy of each user.
When joining in, you won’t need to submit your personal information. All you need is your email and a valid wallet address.
However, you may need to undergo a verification process if you’re buying using your bank card. Exchange Ripple 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 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. You only need to enter your email address and create a digital wallet. As long as you have these, then you’ll be good to go.
They also offer a simple interface for users to use the platform. It allows you to easily navigate and trade. You can also see past exchanges. Exchange Ripple 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 Exchange Ripple Changelly
Does Changelly have a maximum and a minimum amount?
Currently, Changelly doesn’t have restrictions regarding the maximum amount 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?
It takes around 5 to 30 minutes to process transactions. It takes longer to process transactions if the amount is higher.
What currencies does Changelly support
You can only buy cryptocurrencies in US Dollars or Euros.
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?
Your wallet address will be the recipient’s address. It should be where Changelly will send your crypto coins to.