Changelly is a relatively new cryptocurrency trading platform, having been founded in 2015. The unique aspect of Changelly is that it interacts with other trading platforms such as Poloniex and Bittrex to determine the best rate possible.
Furthermore, Changelly also makes it possible for you to start trading without the hassle of verifications or even registering in any exchange.
If you’re concerned about reputability, then you can rest assured because they’re partnered with highly reputed platforms such as Bittrex, Coinomi, Uquid debit card, Jaxx, Coinmarketcap, and Coinpayments.
In this Changelly review, I’ll outline all the different aspects of this service so you can decide for yourself whether to use it.
PART 1: Changelly Trading Information
Changelly accepts 80+ altcoins and cryptocurrencies. As such, it has one of the widest compatibilities in the market. Some of the popular cryptocurrencies it deals in are Bitcoin, Litecoin, Ethereum, Dashcoin, Dogecoin, and Bytecoin. You can check out a complete list of their tokens in the Changelly Cryptocurrency page.
Changelly only accepts US Dollars and Euros as fiat currencies with which to purchase the cryptocurrencies.
Changelly is available across the globe.
Changelly charges a mere 0.5% cryptocurrency transaction fee. However, you have to pay a further networking fee to the blockchain network.
Transaction limits in Changelly are based on time period. For the first transaction, the limit is just $50. However, the limit gradually rises until it’s unlimited after one month.
How fast are your funds available?
Cryptocurrency transactions are finalized within 30 minutes. This processing time depends on your blockchain network and larger transactions may even take longer.
PART 2: Create an Account on Changelly
Creating an account with Changelly is easy.
- Go to the Changelly Website.
- Click on ‘Sign Up’ at the top bar.
- Enter your email address and Sign Up.
- You’ll be sent a verification link. Click on that.
- Set up a password.
- Verify a phone number for the 2-factor authentication.
With that, you’ll be all set with your Changelly account! You can then continue to deposit funds into it and start trading. You can find out how to do that by watching the following YouTube guide:
PART 3: Changelly Customer Support & User Reviews
Changelly customer support can be reached via email or through their Social Media accounts. However, before you do so, you should check out their comprehensive FAQ section to see if you can find the answers there.
PART 4: Changelly Compared (and other Alternatives)
Changelly is a one of the best cryptocurrency trading platform which allows you to integrate with various other platforms and get the best price possible for your cryptocurrencies. Furthermore, it also has a very low transaction fee. However, it’s also a pretty new site, established in 2015, so it doesn’t have the kind of public faith and reliability that established platforms like Coinbase and Bittrex do.
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PART 5: Changelly Conclusion – Is it a Good Choice?
Changelly is a simple and efficient means of trading a variety of cryptocurrencies at a very low transaction fee.
Having said that, the thing that’s most concerning about them is the lack of transparency. The owners have kept their identities anonymous and there’s no indication of what happens with the user’s personal information. As such, it requires users to place a large amount of trust with the company.
However, if that isn’t an issue, then Changelly is a perfectly efficient exchange platform and you should give it a go.
Changelly is a very promising exchange platform that offers over 80 altcoins for trading at an incredibly low transaction fee. However, the lack of transparency is concerning.
- Low transaction fee.
- Over 80 cryptocurrencies supported.
- Lack of transparency.
- New company.