Changelly was founded in 2015, it is an exchange for buying, selling, and swapping cryptocurrencies.
It was created by the same team behind MinerGate, one of the largest multicurrency mining pool platforms.
Its headquarter is based in the Czech Republic, in Prague. Their platform is fast and easy to use for all types of traders.
They state on their homepage ‘Exchange Bitcoin and 200+ altcoins in a fast, simple and secure way’.
In fact, the option that they value the most on their exchange is swapping coins.
They are proud to offer a very simple and fast system to swap cryptocurrencies, once again for all types of traders.
Although Changelly welcomes all traders, they also offer a Pro version, Changelly Pro where investors can enjoy further trading features.
Let’s explore their trading features and see if they meet your needs as an investor.
Is Changelly Exchange Limited To Expert Traders?
Changelly is destined for every trader, experienced and less experienced. It is said to be easy and fast to use.
As mentioned above, they offer a Pro version where advanced and professional traders can explore further trading features.
There is the option to either have a personal or a business account and there is even an affiliate program.
Crypto influencers can sign up for their affiliate program to share and promote their exchange and tools in order to make earnings.
The very good news for traders who aren’t in favor of KYC (literally meaning ‘Know Your Customer’, this is a background and Identity check) is that they do not need to go through any type of verification to use the exchange, they simply need to verify their email address.
One of the reasons why this exchange is trusted by so many traders is that they are supported by several very well-known companies in the crypto space including Binance, Trezor, Coinomi, Exodus, and ZenGo.
These can be found at the bottom of their homepage in their Partners section.
Pros & Cons of Changelly
|A fast, simple, and beginner-friendly exchange||Not regulated in the United States|
|Users can trade without completing a KYC verification||Expensive fees when converting crypto to fiat, up to 5%|
|Backed-up by renowned crypto companies as partners (Binance, Trezor, Coinomi, and others)||Only BTC to EUR is accepted for Crypto withdrawals|
|Around 200 coins supported||High minimum to sell crypto (‘The minimum amount of Bitcoin to sell is set at 250 EUR’)|
|24/7 LiveChat support via the app and website||Fixed or pegged rates vs floating rates (which is not always advantageous)|
Our Take On Changelly
Changelly is a very interesting platform for both beginners and professional traders.
On one hand, it is simple to use, there is no use of jargon or too technical terms, and it gets straight to the point if users need to swap, buy or sell crypto assets.
It is also very easy to navigate through and to find a point of contact with LiveChat or just to find a piece of information with the provided educational content and/ or FAQ.
On the other hand, professional traders would also be satisfied with the proposed pro version, it provides real-time data which are more than necessary.
Users also have the possibility to create a business account and join their affiliate program so no one should feel left behind.
The only downside would be the fact that traders cannot store their crypto assets on the platform since they do not have a wallet.
Numerous reviews stated the fact that Changelly fees when converting cryptocurrency to fiat are quite expensive.
They mentioned on their website that their fees are 5% when converting crypto assets to fiat.
They also said ‘At Changelly PRO, we offer the minimal withdrawal amount starting from 0 and the lowest withdrawal fees in the industry. For example, for the most traded cryptocurrencies fees are 0.0004 BTC for Bitcoin withdrawals, 0.25 XRP for Ripple, 0.003 BTC for Ethereum, and 4 USDT for Tether.’
Here is the table that users can find on their platform:
(Please note the below fees apply for the pro version users only. As they stated, ‘The fees for Starter accounts are fixed at 0.1% Maker Fee and 0.1% Taker Fee.’)
|30-days Trading Volume (BTC)||Taker Fee (When a trader sells)||Maker Fee (When a trader buys)|
Is Changelly Safe?
Changelly does offer a safe platform for investors to trade on.
They displayed their metrics on their website for users to trust them but also to state facts.
They are operating since 2015, there is an average of 2 million and plus traffic per month, more than 350 API (Application Programming Interface) partners are on board, and they have more than 80 employees and 3 offices.
As seen earlier, this exchange has been founded by the renowned and trusted team who’s behind MinerGate which is also very well-known in the crypto space.
Changelly offers a few trading options such as buying, selling, and swapping (exchanging a cryptocurrency for another).
With swapping being their main feature, you can see from the start that the most popular trading pairs on their homepage are Ethereum (ETH) & Bitcoin (BTC), Bitcoin (BTC) & Monero (XMR), Dogecoin (DOGE) & Bitcoin (BTC) and others.
Their Pro version, which was founded in 2020, offers more options for advanced traders.
In fact, they have the possibility to consult and analyze real-time data with crypto charts and do spot, margin, and leverage trading.
Finally, users are also able to list their crypto assets. The pro version has a mobile app too, PRO: Crypto Trading Platform, however, users will need a different account to use this version.
Banking At Changelly
Changelly counts various payment methods to purchase crypto assets on their platform, which is interesting and convenient for traders.
In fact, they have the possibility to buy crypto via debit or credit card, virtual card, prepaid card, bank transfer, and cryptocurrency.
Changelly App Experience
Traders can download the mobile app Changelly: Crypto Exchange directly from the homepage of the exchange.
It is available on Google Play (for Android) and on the App Store (for IOS) and is highly rated with more than 4.5 stars on both of them.
The app is really easy to use and signing up only takes a minute. You are only required to enter your email address, once you receive the verification code.
Enter it and your account is created. You can also create your account directly with your Apple account on IOS and you won’t even need to verify your email address.
At the bottom of your screen, you’ll find the following menu Exchange, Rates, History, and Settings.
On the first page, you’ll see exactly what appears on the homepage of the website, the exchange tool with either a floating exchange rate or fixed exchange rate for the user to choose.
The floating rate ‘could change depending on the market conditions, and the fixed rate ‘will remain the same irrespective of the changes in the market’.
On the same page, users will also be able to buy crypto, they can, by the way, be purchased via debit or credit card, bank transfer, and even via Apple Pay.
In the rates section, traders will get access to all the supported cryptocurrencies and their charts, they will also have the possibility to create a watchlist of their favorite coins. In the history section, they will have visibility of their transactions.
Finally, in Settings, they will have access to all settings but also to LiveChat where they will just be required to enter their name and email address to start a chat.
PRO: Crypto Trading Platform
Their mobile app PRO: Crypto Trading Platform can also be downloaded on Google Play and on the App Store.
The layout of the pro version is similar to the homepage of the website, with the trading pairs. It is then followed by markets with BTC, ETH, USDT, and DAI.
The third section is the exchange, where traders can consult real-time buy and sell orders of other users.
In the orders section, they can see their planned orders and in the last section, they can consult their details account.
(Please note that signing up on the pro version will require adding a 2 Factor Authentication verification (2FA).)
Changelly Site Experience
The website experience is a bit different than the one on the mobile app.
In fact, it is very simplified on the main mobile version with the strict minimum that can be done there.
On the pro mobile version though, there are more features as seen right above.
The website version is a mix of both mobile versions, you can exchange, buy and sell.
In order to trade and have access to charts and more, users will need to sign up or log into their pro account (which is different from your main account).
On the website, users can use LiveChat too and the same goes, they will need to add their name and email address before starting a chat.
The menu is a bit more complete in terms of information regarding the products, support, and exchange.
In the support section, users will have the possibility to consult either their personal or business accounts. In the personal account, they will have access to blogs with educational content for beginners.
They stated ‘Start your crypto journey with Changelly. Learn blockchain and cryptocurrency basics hassle-free’.
The content is divided into four parts Crash course, Academy, Crypto Market, Changelly Ecosystem and is followed by a glossary (which comes really handy for beginners). Users also have the possibility to subscribe to their newsletter.
The registration process at Changelly is more than straightforward and couldn’t be any easier.
As seen previously, on the main version, be it on the website or on the mobile app, users are only required to enter and verify their email address with a code sent by the exchange.
They will then be provided with their login credentials (their login being their email address and their password generated by the exchange) via email.
There is the possibility to change the password once logged in, in the settings section.
On the pro version (website or mobile), users will need to provide their email address, create a password and set a 2 Factor Authentication verification (2FA).
Changelly Global Restrictions
Changelly is available in any country worldwide.
They also accept any currency however, they will be converted to the following: USD, EURO, and GBP. It is important to note that this exchange isn’t regulated in the United States and therefore, crypto-to-fiat transactions aren’t available in the US.
Changelly Customer Service
Changelly support team can be contacted 24/7 via LiveChat on their website and on the mobile app.
They will need to provide their name and email address, they can then, contact the customer service before creating an account if needs be.
Users can also report an issue or ask a question by submitting a ticket (with an existing account only this time). They can also contact them via email at [email protected].
Finally, they can refer to the FAQ regarding different topics, Getting Started, Troubleshooting, Partnerships, Wallet, and more.