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 own pros and cons as well as unique 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. We’ll also be talking about how it can be used and what makes it unique.
This is quite a long post. If you prefer to watch instead, then check out this video. They also discuss 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. After, you will want to read the rest of the article for a more comprehensive review.
Overview of Changelly Whats Wrong With 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. 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, a well-established mining pool.
Its impeccable track record is one the most appealing 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.
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 key features?
This section will focus on what makes Changelly so special. Most forums and groups often share how the platform has some of the most remarkable features.
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.
The website states that their flat fee is 0.5% per trade. So every time you trade between cryptocurrencies, 0.5% of that will be deducted from you.
The rate is not as high compared to 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. Moreover, the 0.5% flat exchange fee is available for most of the 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. 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. 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. 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. 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. 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. It is possible to exchange different currencies without going through a lot of steps.
They also allow you to change between their 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. It’s not surprising that Changelly accepts a wide range 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. The same goes whether your bank card is from a different 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.
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?
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. You can only have a $500 limit for 7 days following your first 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. 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 search for the best rates within different cryptocurrency exchanges. Whats Wrong With Changelly
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. 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.
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. Whats Wrong With Changelly
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 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. 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. Whats Wrong With Changelly
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
- No need to register
- Has 24/7 live support
- 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. You don’t even need to register in order to use 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 see your past exchanges too. Whats Wrong With 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 Whats Wrong With 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 also depend on what cryptocurrency you’re 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 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 doesn’t have a monthly withdrawal limit.
What is a recipient’s address?
The recipient’s address will be your wallet’s address. It should be where Changelly will send your crypto coins to.