Changelly cryptocurrency exchange review
Changelly is an instant digital currency exchange providing competitive crypto-to-crypto rates.
Founded in 2013, Changelly has emerged as one of the most popular crypto-to-crypto exchange services on the market. The Czech-based exchange offers a wide range of services for people looking to get the best rates on cryptocurrency conversion.
Changelly has already carved out a strong international presence and has earned the trust of 300,000 customers since 2015.
|Product Name||Changelly Crypto-to-Crypto Exchange|
|Fiat Currencies||USD, GBP, EUR, CAD, MXN, HKD, RUB, NZD, SGD, JPY & 40+ more|
|Cryptocurrencies||BTC, ETH, XEM, LSK, XMR, LTC, XRP, EOS, XLM, BCH & 140+ more|
What is Changelly?
Changelly offers a unique proposition: It allows you to exchange one cryptocurrency for another in the most convenient way possible. It does this by aggregating and suggesting the best rates directly on its website.
Changelly's robot is integrated into the world's biggest cryptocurrency trading platforms, such as Poloniex and Bittrex. In a matter of milliseconds, the robot suggests the best available rate on its website.
Given the volatility around cryptocurrency, Changelly does not fix rates. This enables the company to charge a very low commission fee for facilitating trades.
What cryptocurrencies can I buy or sell?
Changelly only deals in crypto-to-crypto transactions and does not accept fiat currency conversions. However, you can use the US dollar or the euro to purchase more than 35 cryptocurrencies.
Some of the supported cryptocurrencies include:
Changelly is available worldwide, including Australia.
Which payment methods are accepted?
Changelly accepts payments in more than 35 cryptocurrencies.
You can also purchase cryptocurrency with your credit or debit card in US dollars or in euros.
How much will it cost me to use Changelly?
- By not fixing rates, Changelly is able to charge a very competitive fee of 0.25% on cryptocurrency transactions.
- Users will also pay networking fees that are set and collected by the blockchain network.
How fast will my funds be available?
Crypto-to-crypto transactions are usually finalised in 5-30 minutes. However, transaction processing times will depend on the capacity of the blockchain network at the time of your trade.
Larger transactions may also take more time to process.
Are there any transfer limits?
The exchange has very high limits and good liquidity, which means you can make trades of virtually any size. However, it's important to keep in mind that your transfer amounts must be big enough to pay for the blockchain network fee as well.
There are restrictions on bank card payments, although the limit rises substantially after a few purchases. After one month, limits on Australian residents are dropped.
- 1st transaction. US$200
- After 4 days. US$500
- After 7 days. US$3000
- After 1 month. Unlimited
Is Changelly considered secure?
Changelly is viewed as a trusted exchange service that is safe and convenient to use. The platform enables 2-factor authentication to protect your account. This includes Google Authenticator, which provides an added level of security.
Client information such as email is kept private and will only be used to contact you from time to time.
Customer support can be contacted directly via email and social media. The website doesn't list response times, but does have a comprehensive FAQ section that will probably answer many of your questions.
Pros and cons
- The largest offering of cryptocurrencies on the market
- Receives praise for the design of its website
- Popular platform trusted by hundreds of thousands of traders
- Competitive commission fee for crypto-to-crypto conversion
- Higher rates than other exchanges when purchasing cryptocurrency directly
Changelly's smooth interface and user experience have attracted many crypto enthusiasts into its fold. If you'd like to give the platform a try, head over to the Changelly website and click "Login". Navigate to the bottom and hit "Registration". Here, you'll be able to sign-up with your email or social media account.
Frequently asked questions
Image source: Changelly