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.
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’ll be taking a closer look into Changelly and all its features. Apart from that, we’ll be discussing what makes it different and how you can use it.
This is quite a long post. 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 watch this video by Crypto Renegade on YouTube that gives a quick review. Afterward, you’ll want to read the rest of our article for a more comprehensive review of Changelly.
Overview of Changelly When Will Ripple Be Added To Changelly
Changelly started back in 2013 but gained traction during 2016. They were also able to establish themselves fully in 2016. 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.
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. The transactions you make with this platform are quick and easy.
They also have over 90 altcoins available for purchase or exchange. They even have a 60,000 BTC monthly turnover.
Changelly does not hold liquidity. They are not a custodial exchange. They don’t require deposits.
What are its key features?
In this section, we’ll be looking into what makes Changelly unique. Many forums and groups share their appreciation for the unique features of Changelly.
Offers Flat Exchange Fees
Many cryptocurrency platforms charge extra for each 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.
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.
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. 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. 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. 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. They also employ a two-step authentication process so you can secure your transactions and your account. 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?
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. 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 may also vary, depending on the bank you’re using. 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
Many cryptocurrency platforms are focused on just a few. With Changelly, they can support up to 90 cryptocurrencies. Their choices are more diverse, so there are fewer limits when it comes to buying and selling 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.
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
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. 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. 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.
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. 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.
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 bank transactions in 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. There are currently no monthly payment limits.
How does Changelly work?
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. When Will Ripple Be Added To 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’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.
The rates provided by the AI are only estimates. Once you push through with the exchange, there may be slight differences in the transaction. Don’t be surprised that the transaction rates may differ from the calculation. When Will Ripple Be Added To 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.
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. When Will Ripple Be Added To Changelly
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 are not applicable to any other type of exchange
- Some people may find it slow.
Changelly is one of the newest crypto platforms. It’s gaining popularity because crypto has become more popular and because they offer 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.
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. When Will Ripple Be Added To 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 When Will Ripple Be Added To Changelly
Does Changelly have a maximum and a minimum amount?
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.
How long does it take for transactions to finish?
It takes around 5 to 30 minutes to process transactions. The higher the amount, the longer it will take.
What types of 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.