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.
But with so many available, choosing the right one can get tricky. Each platform has its own pros and cons as well as unique features.
Changelly is one the most well-known cryptocurrency platforms. They are one of the most popular platforms on social media and forums.
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’ll be taking a closer look into Changelly and all its features. We’ll also be talking about how it can be used and what makes it unique.
This post is very long. If you prefer to watch instead, then check out this video. They also discuss Changelly. To see if Changelly is right for you, we recommend that you view their video.
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. After, you will want to read the rest of the article for a more comprehensive review of Changelly.
Overview of Changelly Reddit 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. Moreover, they have policies that support trustworthiness and fairness. The transactions you make with this platform are quick and easy.
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. This also means that they don’t require deposits.
What are its features?
This section will focus on what makes Changelly so special. Many forums and groups share their appreciation for the unique features of Changelly.
Offers 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 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. So every time you trade between cryptocurrencies, 0.5% of that will be deducted from you.
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. 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. 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.
Don’t be alarmed since your account won’t be easily hacked. 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.
Why is Changelly not requesting personal information?
This rule was put in place by Changelly to protect the privacy of each user. All you need to do is register using your email and add 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. This step is not necessary if you are going to convert crypto to crypto. Bank verification is not required for this purpose.
Many cryptocurrencies supported
Cryptocurrency platforms often focus on just a handful. Changelly supports up to 90 cryptocurrency. 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:
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.
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.
Features a flexible Bitcoin buying system
As we mentioned before, Changelly supports up to 90 cryptocurrencies across the globe. 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 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.
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. 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!
Are there Transaction Limits on 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.
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. These payments will not be required after the first week. There are currently no monthly payment limits.
Changelly will allow each user one cryptocurrency wallet within the first week. 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 search for the best rates within different cryptocurrency exchanges. Reddit 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’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. Reddit 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 required?
Changelly doesn’t require you to create an account 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.
If you are buying with your bank card, however, you might need to go through a verification process. Reddit Changelly
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
- Registration is not required
- Live support available 24/7
- Flat exchange fees are not applicable to any other type 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.
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. 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 also see past exchanges. Reddit Changelly
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. This is the best thing about it: they offer 24/7 customer support.
FAQ Reddit Changelly
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 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. It takes longer to process transactions if the amount is higher.
What types of 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 a recipient’s address?
Your wallet address will be the recipient’s address. It should be where Changelly will send your crypto coins to.