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.
But with so many available, choosing the right one can get tricky. 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’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. Moreover, they support up to 10 different cryptocurrencies!
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. This video is a better alternative. They also discuss 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 check out 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 What Coins Does Changelly Offer
Changelly was founded in 2013, but began to gain traction in 2016. This was also the year that they were finally able to fully establish themselves. 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. 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 doesn’t 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.
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.
The rate is not as high compared to other cryptocurrency platforms. They don’t charge any additional fees. Every trade will result in a uniform deduction.
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. 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. The exchange doesn’t have a confusing interface, and there are lesser location restrictions. The 0.5% flat exchange fee applies to most trading styles.
Secures your Personal Information
Security has always been Changelly’s key selling point. 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.
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. 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. Bank verification is not required for this purpose.
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
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. You should also keep in mind that whatever bank payments or transactions you do should only be in Euros or US Dollars. The same goes whether your bank card is from a different 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. 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. 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. 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. 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. Currently, there are no payment limits per month.
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 compare rates across different cryptocurrency exchanges to find the best. What Coins Does Changelly Offer
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. 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. Don’t be surprised that the transaction rates may differ from the calculation. What Coins Does Changelly Offer
The good news is that, even though there may be differences, these discrepancies are minimal. The estimates are not too far off from the actual.
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. 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. What Coins Does Changelly Offer
Pros and Cons
Here’s a summary of the advantages and disadvantages of 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 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. All you need to do is to add your email and a credible 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 makes it easy to navigate the platform and trade. You can also see past exchanges. What Coins Does Changelly Offer
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 What Coins Does Changelly Offer
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. As for the minimum, Changelly will notify you if it’s too low. It will also depend on what cryptocurrency you’re 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 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. It should be where Changelly will send your crypto coins to.