When it comes to trading cryptocurrencies, most people tend to think of two distinct types of exchanges: Centralized platforms with their structured operations and custodial accounts, or decentralized platforms that rely on smart contracts for direct, peer-to-peer transactions. But what if there was a middle ground, a solution that combined the best of both worlds? Enter Changelly—a hybrid exchange that breaks away from the traditional mold to offer something truly different.
In this Changelly review, we’ll explore why this platform is gaining attention as a unique player in the crypto space. Is it really a safer, smarter alternative for trading digital assets? How does it work and can it bridge the gap between the convenience of centralized exchanges and the autonomy of decentralized platforms? Whether you’re a seasoned trader or just dipping your toes into cryptocurrency, this review will guide you through everything you need to know about Changelly.
And, as always, CoinReviews brings you fact-checked and reliable insights, ensuring even the most novice in the crypto world can easily understand and make informed decisions!
What is Changelly?
Changelly, established in 2015 is a non-custodial cryptocurrency exchange platform that allows you to swap, buy, and sell cryptocurrencies without needing to go through lengthy KYC procedures. This makes it particularly attractive for those who value privacy and self-custody of their digital assets. Instead of holding your funds on the platform, Changelly allows you to provide your own wallet address, where the cryptocurrency you purchase will be sent directly.
The platform has partnered with well-known wallet brands like Trezor and Ledger, enabling users to perform crypto swaps directly from their hardware wallets. This provides an added layer of security and convenience as your funds never leave your control.
For more advanced trading, Changelly offers Changelly PRO, which requires a KYC-verified account. With Changelly PRO, you can place orders using a combination of fiat and cryptocurrencies, although fiat deposits do incur fees. Changelly PRO also operates an order book with a transparent fee structure, starting at 0.1% for both maker and taker fees, depending on your 30-day trading volume.
Additionally, the platform supports decentralized finance (DeFi) options, allowing you to connect a Web3 wallet and access decentralized exchange (DEX) functionality. On the business side, Changelly offers Changelly Pay, a feature designed for merchants to accept both crypto and fiat payments for goods and services.
Changelly offers a flexible and user-friendly platform for various crypto needs, whether you are a privacy-conscious individual or a serious trader looking for advanced features.
[button url=”https://changelly.com/?from=btc&to=eth&amount=0.1&ref_id=UfAtVCyuB0qw-ygZ” target=”blank” style=”3d” background=”#49ef2d” color=”#FFFFFF” size=”10″ wide=”no” center=”yes” radius=”auto” icon=”icon: mail-forward” icon_color=”#FFFFFF” text_shadow=”none”]Visit Changelly[/button]Key Features of the Changelly Exchange
Changelly has become a popular choice among cryptocurrency traders and enthusiasts due to its range of user-friendly features. Here’s a focused look at what makes Changelly stand out:
Non-Custodial Exchange: You can trade without depositing funds on the platform, which means you maintain control of your assets throughout the transaction process. You only need to provide your wallet address to receive purchased cryptocurrencies.
No Personal Information Required: Changelly does not require extensive personal information for basic trades. All you need is your email address for account security and transaction tracking. This feature enhances your privacy while trading.
Flat Fee Structure: The platform charges a flat fee of 0.5% for cryptocurrency trades, making it straightforward for you to understand the costs involved. However, fees for fiat currency transactions can vary, which some users find less transparent.
Swift and Simple Transactions: Transactions on Changelly are designed to be quick and easy. You simply enter the amount and the wallet address, and the cryptocurrency is sent directly to you, streamlining the trading process.
Integration with Leading Wallets: Changelly partners with well-known wallet providers like Trezor and Ledger, allowing you to swap cryptocurrencies directly from your hardware wallets, enhancing both security and convenience.
Changelly PRO: For more advanced trading, Changelly offers Changelly PRO, which requires a KYC-verified account and allows you to place orders on an order book. This version also supports fiat deposits and offers additional trading features.
DeFi Functionality: You can connect your Web3 wallet to Changelly to access decentralized finance (DeFi) features, providing you with flexibility in trading and asset management.
Changelly Pay: This feature allows merchants to accept both crypto and fiat payments, making it a valuable tool for businesses looking to embrace cryptocurrency.
24/7 Customer Support: Changelly provides round-the-clock customer support to assist with any inquiries or issues you may encounter while using the platform.
Crypto Profit Calculator: This handy tool helps you assess the profitability of your trades, providing insights into potential returns on your investments.
Changelly offers a comprehensive suite of features that cater to a wide range of users, from casual traders to serious investors and merchants, making it a flexible and reliable platform in the cryptocurrency space.
Security & Transparency: Is Changelly Safe?
When evaluating the safety of a cryptocurrency exchange, a primary concern for users is whether their funds will remain secure. With centralized exchanges, the custodial nature of the business model often raises significant risks. However, Changelly operates as a non-custodial exchange, meaning that funds never pass through its platform. Instead, Changelly acts as an intermediary, facilitating transactions between users and partner exchanges while allowing users to maintain control of their wallets.
Changelly PRO and Fund Security
While Changelly’s standard services do not require users to store funds on the platform, those who choose to use Changelly PRO must keep some funds on the platform to place orders. This requirement introduces a level of custodial risk, as users must trust the exchange to safeguard their assets. Unfortunately, Changelly does not provide extensive information regarding security protocols for Changelly PRO, such as proof of reserves or security audits, which may leave some users feeling uncertain about the safety of their funds.
Customer Security Measures
For user-side security, Changelly implements several protective measures:
- Two-Factor Authentication (2FA): Available for accounts on the desktop version, enhancing the security of user accounts.
- Account Whitelisting: This feature allows users to designate specific wallet addresses for withdrawals, adding an additional layer of protection.
- Email Confirmation: Necessary for transaction verification, ensuring users are informed of activity on their accounts.
These features help to mitigate risks, although the mobile app lacks 2FA, which is a significant oversight for security-conscious users.
Privacy and KYC Policies
Changelly’s approach to privacy is a notable aspect of its operations. Users can trade without providing identification unless they opt for Changelly PRO, which requires KYC (Know Your Customer) verification. This model appeals to privacy-focused users who appreciate not having to submit personal information. The only data typically required is an email address, used for transaction tracking and potential refunds in case of swap issues.
While privacy can provide benefits, it also raises concerns about the platform potentially being misused by bad actors. Nonetheless, the overall user base has generally favored the platform’s commitment to privacy over the regulatory burdens of traditional exchanges.
Security Overview
Changelly has not experienced any security breaches since its launch in 2015, which enhances its reputation as a secure trading option. However, the absence of standard security measures like proof of reserves, customer asset insurance, and independent security audits may lead to concerns regarding its overall reliability.
Overall Safety Assessment
Despite the absence of licenses from major regulatory bodies like the FCA, Changelly’s non-custodial nature means it does not hold user funds, mitigating some risks associated with centralized exchanges. Many users find Changelly to be more secure than other centralized platforms, such as KuCoin or OKX, especially given its clean security record.
However, third-party ratings reflect concerns about Changelly’s lack of transparency and industry-standard security measures. Users should weigh these factors when considering Changelly for their trading needs, especially if they choose to use Changelly PRO, where some custodial risk is inherent. While Changelly presents a relatively safe trading environment, potential you should remain vigilant and consider their own security preferences when using the platform.
Changelly Review: Supported Currencies
When you first look at Changelly, you might think it only supports a handful of major fiat currencies like USD, EUR, and GBP. However, there’s more to discover if you explore a bit further. Here’s a quick guide on how to find the supported currencies:
How to Find Supported Currencies?
Visit the Supported Currencies Section: Click on the Buy Cryptocurrency button.
Explore Tokens:
- Tokens are listed in alphabetical order. Some tokens will have a label next to them that reads “in Countries.”
- Click on this label to see all the fiat currencies you can use to purchase that specific cryptocurrency.
Understanding Supported Fiat Currencies
Local Currency Options:
- The supported fiat currencies are listed according to the cryptocurrency you select.
- Instead of asking, “What can I buy with my local currency?”, the question is: “What local currency can I use to buy this cryptocurrency?”
Example Searches: When I randomly selected a few tokens, I noticed a catch. For lesser-known cryptocurrencies, you might think you can use a non-major fiat currency, but you may receive a message stating “unsupported pair.” This means you will be redirected to buy BTC first and then swap BTC for your desired cryptocurrency.
Buying BTC with Fiat
Wide Support for BTC: Almost any fiat currency can be used to purchase BTC. However, some currencies may require a minimum amount for the transaction.
Major Currency Support: For safe transactions, you can generally use major currencies like USD, EUR, GBP, CAD, and AUD for most cryptocurrencies on Changelly. Anything beyond these might not be as reliable.
Changelly provides a variety of options for purchasing cryptocurrencies with fiat currencies. While it primarily supports major currencies, it offers some flexibility for users willing to explore. Always check the specific options for each token to ensure a smooth purchasing experience.
Changelly Review: Crypto Support
As of the latest update, Changelly supports approximately 680 cryptocurrencies, ranging from popular coins in the top 100 to lesser-known tokens. This wide variety allows users to explore numerous options for trading and investing. Here’s what you need to know about the crypto support on Changelly:
Where to Find Supported Cryptocurrencies?
- You can find the list of supported tokens in the Supported Currencies section, located in the bottom half of the Changelly webpage.
- The user-friendly layout of the page clearly labels the network for each token, allowing you to quickly identify which network you need to use for future transfers. This feature enhances the overall user experience by reducing potential confusion during transactions.
Navigating the Exchange Section
- Buying Crypto: In addition to the Buy category, you can also obtain cryptocurrencies through the Exchange section.
- To exchange tokens, simply select the cryptocurrency you wish to swap from the left column. This action will redirect you to the exchange page, where you can view various metrics related to that token.
- If you choose a cryptocurrency from the right column, you can specify which token you would like to swap it for before being directed to the swap page.
Benefits of the Exchange Feature
- Comparison Metrics: One of the significant advantages of using the exchange feature is that Changelly provides comparison metrics for the tokens you are considering. This information can help you make more informed decisions regarding your swaps.
- Alternative Options: Alongside your chosen token, you’ll also see a list of other cryptocurrencies available for swapping. This feature allows for greater flexibility in your trading strategy.
Changelly offers a robust selection of supported cryptocurrencies, making it a versatile platform for traders and investors. The clear labeling of networks and the intuitive exchange feature contribute to a seamless trading experience, allowing you to make informed decisions while exploring a diverse range of cryptocurrencies.
Listed Changelly Crypto Exchange Assets
Changelly offers a wide selection of over 391 cryptocurrencies, allowing users to explore various digital assets for trading and investment. However, it is noteworthy that some significant assets are not available on the platform. Specifically, Changelly does not support:
- Lido Staked Ether (STETH)
- Toncoin (TON)
- Wrapped Staked Ether (WSTETH)
These tokens are among the top 20 cryptocurrencies by market capitalization, but despite this, 15 out of the top 20 cryptocurrencies are accessible on Changelly.
Popular Assets Supported by Changelly
Here’s a list of some of the most popular cryptocurrencies available on the platform:
- Bitcoin (BTC)
- Ethereum (ETH)
- Tether (USDT)
- BNB (BNB)
- Solana (SOL)
- USD Coin (USDC)
- XRP (XRP)
- Dogecoin (DOGE)
- TRON (TRX)
- Cardano (ADA)
- Avalanche (AVAX)
- Shiba Inu (SHIB)
- Wrapped Bitcoin (WBTC)
- Bitcoin Cash (BCH)
- Polkadot (DOT)
Notable Absences
While Changelly provides access to many well-known cryptocurrencies, the following notable assets are not supported:
- Lido Staked Ether (STETH)
- Toncoin (TON)
- Wrapped Staked Ether (WSTETH)
- Wrapped Ether (WETH)
- Chainlink (LINK)
Full List of Supported Assets
Changelly supports a variety of other cryptocurrencies, including:
- EOS
- Litecoin (LTC)
- XLM
- Dash (DASH)
- Monero (XMR)
- Ethereum Classic (ETC)
- Zcash (ZEC)
- Waves (WAVES)
- Aave (AAVE)
- Polygon (MATIC)
- SushiSwap (SUSHI)
- Uniswap (UNI)
- Fantom (FTM)
In total, Changelly provides a robust platform for trading various cryptocurrencies, catering to a wide range of user preferences and investment strategies.
While Changelly supports a broad range of cryptocurrencies, it’s essential for users to be aware of the notable assets that are absent from the platform. The availability of popular cryptocurrencies, alongside the user-friendly interface, makes Changelly a convenient option for traders and investors alike.
Changelly Exchange Fees & Payment Methods
Changelly is designed to facilitate seamless cryptocurrency exchanges, employing two types of rates for transactions: fixed rates and floating rates. Each option serves different user preferences and trading strategies.
Fixed vs. Floating Rates
Fixed Rates: This option guarantees a flat fee that encompasses all costs associated with the transaction. It accounts for market volatility, ensuring that you receive the specified amount of cryptocurrency upon completion of the transaction. This can be particularly beneficial for users who want to avoid unexpected changes in the amount received.
Floating Rates: In contrast, floating rates provide a detailed breakdown of transaction fees, including Changelly’s 0.25% service fee. However, since these rates are subject to market fluctuations, there is a risk of receiving less cryptocurrency than initially quoted if network fees spike during the transaction.
Payment Methods
Changelly supports various payment methods, making it flexible for users to choose the option that best fits their needs. Payment methods include:
- Credit and Debit Cards: Transactions are processed via third-party payment providers.
- Bank Transfers: Available in certain regions.
- Apple/Google Pay: Also offered in select areas for added convenience.
This variety ensures that users have ample choices for funding their accounts.
Spot Maker/Taker Fees
Changelly’s spot trading fees are structured across three distinct tiers, designed to accommodate different trading volumes. The tiers allow for a comprehensive understanding of potential savings based on trading activity:
This tiered system helps casual traders and advanced users assess their trading fees based on their monthly trading volume.
Deposit and Withdrawal Fees
Changelly does not impose additional service fees for fiat deposits, offering a fee structure as follows:
Deposit Fees:
- ACH: 0%
- Wire Transfer: 0%
- Credit/Debit Card: 0%
- PayPal/E-wallet: 0%
- Crypto: 0%
However, while Changelly itself charges no deposit fees, users should be aware that fees from partner payment processors may apply.
Withdrawal Fees:
- ACH: Not supported
- Wire Transfer: Not supported
- Credit/Debit Card: Available through Mercuryo; fees are included in the withdrawal amount (Basic mode).
- PayPal/E-wallet: Not supported
- Crypto: None in Basic mode; varies by token/network in Pro mode.
The Basic version allows fiat withdrawals to a bank card via Mercuryo, while crypto withdrawals incur no additional costs in the Basic mode. In contrast, the Pro mode features variable fees depending on the selected currency.
Futures Trading Fees: On Changelly Pro, futures trading fees are consistent across all tiers, with Maker fees set at 0.02% and Taker fees at 0.05%. Additionally, both Margin Trading and Futures Trading incur a liquidation fee of 0.5%.
Are Changelly Fees Competitive?
Based on a review of the Basic version, Changelly charges medium fees for asset exchanges that align with industry averages. While the absence of additional charges for fiat deposits is advantageous, users should consider that network fees and those from partners can significantly diminish the overall exchange rate. Furthermore, the fee structure lacks clarity, as not all fees for each transaction are explicitly detailed.
On the other hand, Changelly Pro offers enhanced transparency and competitive fees, making it a suitable choice for traders seeking clarity and affordability. Users are encouraged to check Changelly’s official website for the most current fee information.
Changelly Review: Deposits & Withdrawals
Changelly operates as a non-custodial exchange, meaning users can buy and sell cryptocurrencies directly between their wallets. The platform collaborates with various fiat payment gateways, such as Simplex, Banxa, and MoonPay, to provide users with competitive rates for purchasing crypto. Additionally, it supports a diverse range of local fiat currencies, from widely used options like USD and EUR to less common currencies, such as the Omani Rial and Somali Shilling.
Changelly Deposit Options
Changelly facilitates deposits through several partner payment gateways, each offering various payment methods. Below is a summary of the available payment options:
While Changelly does not impose minimum or maximum purchase amounts, specific transactions may require a minimum amount to cover associated fees. For instance, when buying Bitcoin (BTC), the minimum deposit in USD is typically set at $30.
During my experience, I successfully purchased Ethereum (ETH) for fiat using Banxa, which offered the best rates at the time. The transaction was seamless, and the assets arrived in my MetaMask wallet within approximately five minutes.
Changelly Withdrawal Methods
For crypto-to-fiat transactions, Changelly partners with Mercuryo, enabling users to sell approximately 40 cryptocurrencies. Some of the supported cryptocurrencies include:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Ethereum (ETH)
- Basic Attention Token (BAT)
- Tether (USDT)
Users can exchange these cryptocurrencies for various fiat currencies, including EUR, RUB, USD, GBP, TRY, UAH, and JPY. It’s advisable to check Mercuryo’s website for the latest updates regarding available currencies and terms. Generally, the minimum amount for most cryptocurrencies to be sold is €25 (or its equivalent in other currencies).
In contrast, Changelly Pro is designed for crypto-to-crypto withdrawals only, with fees varying based on the selected currency.
Changelly Daily Withdrawal Limits
Changelly imposes certain limits on transactions, which are detailed in the table below:
It’s important to note that while Changelly Basic does not have its own withdrawal limits, its partner Mercuryo enforces specific limitations that apply only to verified users.
Whether you are a newcomer or an experienced trader, Changelly’s flexible options and competitive rates make it an appealing choice for cryptocurrency transactions.
Changelly Review: Desktop Version – Basic and Pro
Desktop Version: Basic
The Basic version of Changelly is designed with beginners in mind, offering a user-friendly interface that simplifies the cryptocurrency trading experience. During my tests on the Chrome browser, the platform provided a smooth and efficient experience, making it accessible to those new to the crypto space.
Key Features:
Simplicity and Accessibility: Changelly focuses on making the process of exchanging cryptocurrencies straightforward by eliminating unnecessary tools and features. This approach makes it easy for anyone to buy and exchange digital assets without feeling overwhelmed.
Core Activities: The Basic version allows users to perform four primary activities:
- Exchange cryptocurrencies through an OTC (Over-the-Counter) desk.
- Buy and sell crypto using cash.
- Execute DeFi swaps within popular networks like Ethereum and Polygon.
- Exchange crypto: Supporting over 500 crypto assets, Changelly simplifies the process of trading exotic coins. Notably, no KYC is required, although exchange rates may be less favorable than traditional centralized exchanges (CEXs).
Buying Crypto: With partnerships from various fiat payment gateways such as Banxa, Simplex, and MoonPay, Changelly allows users from almost any region to purchase cryptocurrencies using over 80 fiat currencies.
Selling Crypto: Through its partnership with Mercuryo, users can withdraw crypto directly to their bank cards. While this method is relatively straightforward and involves a simple KYC procedure, it does come with lower exchange rates and potentially opaque fees.
DeFi Swaps: The platform also enables DeFi swaps that operate with tokens on the same blockchain, aggregating decentralized exchanges (DEXs) to find optimal rates.
User Experience: The Basic version offers third-party sign-in options, user-friendly search functionality, and wallet protection measures to prevent typos when sending coins. However, it lacks the ability to save trusted addresses explicitly, though users can select recently used addresses for transactions.
Limited Tools for Active Traders: The Basic version does not cater to active traders, as it does not include specific trading tools or indicators.
Desktop Version: Pro
In contrast, the Pro version of Changelly is geared towards more experienced traders seeking a comprehensive trading experience. This version functions as a centralized exchange and is available in desktop mode only.
Key Features:
Enhanced Tools: Changelly Pro provides a standard trading layout featuring essential tools like a candlestick graph, order book, and recent trades. It follows industry best practices for trading platforms.
Trading Tools: Key tools available include:
- Order book depth: Yes
- Advanced charting: Yes, integrated with TradingView.
- Technical indicators: Over 13 technical indicators.
- Drawing tools: Yes.
- Watch list: Yes.
- MetaTrader 4/5 Support: No.
Separate Account Creation: Users must create a distinct account for the Pro version, as it does not support third-party sign-in options.
Navigation and Trading: The layout is intuitive, allowing users to quickly search for trading pairs and execute trades with ease. However, the Pro version has a more limited selection of cryptocurrencies and trading pairs, supporting fewer than 50 assets with some pairs having little to no liquidity.
Deposits and Withdrawals: Users can deposit assets either by transferring from an external wallet or purchasing crypto with a bank card via Banxa. Deposit limits differ from those in the Basic version.
The Basic version of Changelly is well-suited for novices and casual traders, streamlining the process of buying and exchanging cryptocurrencies. On the other hand, Changelly Pro caters to advanced users who require more analytical tools but comes with limitations regarding available trading pairs and liquidity. Each version of Changelly serves distinct user needs, making it a versatile platform in the cryptocurrency exchange landscape.
Changelly Review: Mobile App
The Changelly mobile app serves as a versatile tool for cryptocurrency enthusiasts, combining essential features with a user-friendly interface. Here’s a closer look at what the app offers and how it enhances your trading experience.
Core Features
Buying and Exchanging Cryptocurrencies: At its core, the Changelly mobile app allows users to buy and exchange cryptocurrencies seamlessly. These functions represent the platform’s primary offerings, making it easy for users to engage with the crypto market directly from their mobile devices.
24/7 Chat Support: One of the standout features of the app is its 24/7 chat support. This ensures that users can get assistance with any questions or concerns they might have at any time, enhancing the overall user experience and providing peace of mind.
No Account Required: Creating an account is optional for using the app, which is particularly appealing for users who want to explore cryptocurrency trading without the commitment of registration. This flexibility allows immediate access to all the app’s features, making it accessible for both newcomers and experienced traders.
Explore Page
The app’s home page, aptly named Explore, lives up to its title by offering a wealth of information and resources. Users can find:
- Guides and Tutorials: Clear instructions on how to navigate the app and utilize its features effectively.
- Research Suggestions: Recommendations on topics to explore within the cryptocurrency space.
- Market Charts: Access to real-time charts, providing insights into market movements and trends.
- News Updates: Current news articles related to cryptocurrency, ensuring that users stay informed about industry developments.
- Market Performers: A look at the biggest gainers and losers, helping users identify potential trading opportunities.
- Feature Requests: A section where users can submit their ideas for improving the app, fostering community engagement and continuous development.
Most of this information is presented in a slideshow format, making it easy to digest. The app even allows users to access news articles without leaving the app, maintaining a smooth user experience.
User Experience
The Changelly mobile app is simple yet functional, designed to keep users engaged without overwhelming them. While it doesn’t attempt to be an all-encompassing platform, it strikes a balance by offering enough features to maintain user interest. The intuitive design allows for quick transactions, whether you’re buying or swapping cryptocurrencies.
Changelly mobile app is a solid choice for anyone looking to engage with the cryptocurrency market on the go. With its core functions of buying and exchanging cryptocurrencies, robust support options, and an informative
How to Register and Login Process with Changelly?
Getting started with Changelly is a straightforward process, whether you prefer using their website or mobile app. Here’s a step-by-step guide to help you register and log in effectively.
How to Registration with Changelly?
Using the Website:
- Visit the Site:
- Initiate Registration: Click on the ‘Exchange Now’ or ‘Sign Up’ button prominently displayed on the homepage.
- Provide Your Email: You can either enter your email address directly or opt for a quicker registration by logging in through your Google, Facebook, or Twitter account.
Using the Mobile App:
- Download the App: Find the Changelly app on the Google Play Store for Android or the App Store for iOS.
- Open the App: Launch the application and look for the sign-up options.
Email Confirmation: After submitting your registration details, check your email inbox for a confirmation email from Changelly. Click the link provided in the email to activate your account.
Finalizing Your Account: Following the confirmation, you’ll receive another email containing your login details, including your email address and a custom password. Keep this information safe as it will be essential for future logins.
How to Logging In with Changelly?
Once your account is set up, logging in is simple:
- Return to Changelly: Head back to Changelly.com or open the mobile app.
- Enter Your Credentials: Input your registered email address and the password you received in the confirmation email.
- Alternative Login Methods: If you registered via a social media account, you can choose to log in using that method as well.
Setting Up Additional Security
To enhance the security of your Changelly account, it’s advisable to set up two-factor authentication (2FA):
- Access Settings: Once logged in, navigate to the account settings by clicking on Account > Settings.
- Enable 2FA: Follow the prompts to set up Google Authenticator, a free app available for both iOS and Android. This adds an extra layer of security, requiring a verification code during login or trade confirmation.
With these simple steps, you can easily register and log into Changelly. Whether you’re on the website or using the mobile app, the process is designed to be user-friendly and efficient. Remember to prioritize your account security by enabling two-factor authentication, ensuring your cryptocurrency transactions remain safe and secure.
How to Get Started with Changelly?
Changelly offers a unique approach to cryptocurrency trading that sets it apart from traditional centralized exchanges. While many exchanges require a complex account setup and identity verification (KYC), Changelly streamlines the process, allowing you to trade without such requirements—unless you opt for their Pro services, which cater to more serious traders.
Instead of relying on a conventional order book system, Changelly partners with over 20 different trading platforms to secure the best market rates for your transactions. This means you can benefit from competitive prices without the hassle of typical exchange operations.
Non-Custodial Trading
One of the standout features of Changelly is its commitment to non-custodial trading. Users can specify their wallet address to receive purchased cryptocurrencies, ensuring that you maintain control of your funds at all times. This eliminates many risks associated with storing funds on an exchange, such as potential hacks or mismanagement of assets.
Changelly also collaborates with reputable wallet providers like Trezor, Ledger, and Exodus, enabling you to swap cryptocurrencies directly from your wallet without having to access the Changelly platform. This feature enhances security and convenience for crypto enthusiasts.
Buying Cryptocurrency
Purchasing cryptocurrency on Changelly is straightforward and resembles an online shopping experience. Here’s how to get started:
- Select the Buy Tab: Navigate to the homepage and click on the “Buy” tab. Choose the cryptocurrency you wish to purchase from the dropdown menu, and the corresponding fiat amount will be displayed.
- Choose a Payment Provider: Click the “Buy” button to proceed. On the next page, select your preferred payment provider. Keep in mind that fees may vary based on your choice.
- Enter Your Wallet Address: Specify the wallet address where you want the purchased cryptocurrency sent. Be diligent here—entering the wrong address or selecting an unsupported network can lead to irreversible loss of funds.
- Agree to Terms: You must check a box to confirm your understanding of the AML/KYC policy and Changelly’s terms and conditions before proceeding.
- Complete Your Purchase: After clicking the Buy button, you will be redirected to the payment provider to finalize your purchase and complete any necessary KYC processes. If you don’t have a wallet, Changelly provides the option to create one through the AliceBob wallet—though you may prefer a more established wallet for enhanced security.
Upon successful payment, the purchased crypto will be sent directly to your specified wallet.
Trading and Swapping Cryptocurrencies
Swapping cryptocurrencies on Changelly involves a few simple steps:
- Select Your Pair: Choose the cryptocurrency pair you want to swap.
- Choose Your Rate Type: Decide between a fixed rate (for certainty in pricing) or a floating rate (which may offer more favorable prices but with some volatility).
- Provide Wallet Addresses: Fill in the receiving wallet address and a refund address in case of issues.
- Confirm Rates: Double-check that the rates are acceptable before proceeding.
- Set Up an Account: You only need to provide an email address to register with Changelly—your personal information remains minimal.
- Send Your Cryptocurrency: Transfer the cryptocurrency you wish to swap to Changelly’s wallet. Once the transfer is confirmed, Changelly will send the desired cryptocurrency to your wallet address.
Refund Policy
In the event of a failed swap, Changelly’s refund policy covers three scenarios:
- Refund with ETA: For fixed-rate transactions, refunds can take between 1 to 7 days, depending on the circumstances.
- Refund without ETA: For complex issues such as hard forks or incorrect receiving addresses, refunds are not guaranteed.
- No Refunds: Certain mistakes, like sending below the minimum amount or using the wrong network, do not qualify for refunds. Remember, blockchain transactions are irreversible, so exercise caution with every transfer.
For those looking to explore a non-traditional trading experience, Changelly’s user-friendly interface and unique features provide an excellent starting point in the world of cryptocurrency.
How to Trade Effectively on Changelly?
Trading on Changelly is a straightforward process, whether you are a beginner looking to exchange cryptocurrencies or an experienced trader seeking advanced features. Here’s a step-by-step guide to help you navigate the trading process on both Changelly Basic and Changelly Pro.
Step 1: Setting Up Your Account
Create an Account: Start by signing up on the Changelly platform. You can choose to register with your email or use your Google account for a quicker setup.
Verification: Although Changelly Basic does not require Know Your Customer (KYC) verification for crypto exchanges, creating an account on Changelly Pro necessitates verification for added security and compliance.
Deposit Funds: Unlike traditional exchanges, Changelly does not hold your assets. Instead, it operates as a non-custodial platform, meaning you retain control of your funds. To begin trading, you can deposit cryptocurrencies directly from your wallet. For those looking to buy crypto with fiat, Changelly aggregates various payment gateways like Simplex, allowing you to purchase cryptocurrencies using bank cards.
Step 2: Trading on Changelly Basic
Select a Cryptocurrency Pair: Once you have funded your account, navigate to the trading section. Here, you can select from over 500 cryptocurrencies available for direct exchanges.
Input Transaction Details: Enter the amount of cryptocurrency you wish to trade. The platform will display the exchange rate and the amount you will receive. Keep in mind that exchange rates may vary, especially for smaller amounts.
Complete the Exchange: After confirming the details, Changelly will provide you with a wallet address to send your funds. This is a crucial step—ensure that you copy the address accurately to avoid any loss of funds.
Monitor Transaction Status: After sending your funds, you can track the status of your transaction on the platform. The exchange process is typically quick, with funds arriving in your wallet shortly after completion.
Step 3: Trading on Changelly Pro
Access the Trading Interface: For a more advanced trading experience, log into Changelly Pro. This platform offers a standard trading layout that includes features like an order book, candlestick charts, and various technical indicators.
Choose Your Trading Pair: Using the Coin Search feature, find the trading pair you wish to trade. Be aware that Changelly Pro supports a more limited selection of cryptocurrencies compared to the Basic version.
Placing Orders: Specify the type of order you want to place—market or limit. Fill in the necessary details, such as the amount and price, and submit your order. The user-friendly interface makes navigation and order placement straightforward.
Track and Manage Your Trades: Monitor your open orders and trading history from the dashboard. You can view the order book depth and analyze market trends using the integrated TradingView charts.
Step 4: Withdrawing Funds
Withdrawals: After trading, if you want to withdraw your cryptocurrency, go to the withdrawal section. Since Changelly is a non-custodial exchange, your funds remain in your wallet until you decide to withdraw or trade them.
Confirm Withdrawal Details: Enter the withdrawal amount and the destination wallet address. Make sure to double-check the address to avoid errors.
Finalize the Process: Confirm the withdrawal. The process typically completes swiftly, with funds appearing in your wallet shortly after.
The Basic version simplifies the process, making it ideal for those who prefer straightforward exchanges without the complexity of advanced trading tools. In contrast, Changelly Pro offers a more robust trading environment for those looking to implement advanced trading strategies. By following these steps, you can navigate the platform efficiently and trade with confidence.
Changelly Review: Supported Countries and Regions
Changelly stands out in the cryptocurrency landscape by providing access to its services across 200+ countries, including the United States. This broad reach is made possible through partnerships with various fiat payment gateways, such as Simplex and MoonPay. These collaborations enable Changelly to cater to users from diverse geographical locations, allowing for seamless fiat-to-crypto transactions despite local regulatory challenges that other exchanges may face.
Geographic Limitations
While Changelly’s approach offers significant advantages, it’s important to note that the platform’s partners have their own geographical restrictions. These limitations can impact user access based on factors such as citizenship or outstanding debts. Consequently, users might experience challenges when attempting to complete transactions, including the possibility of encountering less favorable exchange rates.
For example, while some payment providers support transactions in certain regions, they may not be available in others. Switchere, for instance, does not operate in Botswana and Panama, whereas Simplex and other gateways do cater to these locations. This discrepancy can lead to confusion, particularly for users in areas where specific payment methods are restricted.
Finding the Right Information
For users seeking clarity on the availability of Changelly’s services in their region, it’s advisable to refer to the dedicated section titled “Where are your services available?” found on Changelly’s FAQ page. Additionally, checking the individual websites of Changelly’s payment partners will provide the most accurate and up-to-date information regarding regional restrictions.
You should be aware of the geographical limitations imposed by payment partners to ensure a smooth transaction experience. By staying informed about these factors, you can make the most of Changelly’s offerings, regardless of your location.
Changelly Review: Customer Service
Changelly offers customer support that is accessible 24/7 through live chat and a ticketing system. Although the platform does not provide phone support—something that is not uncommon among even the leading exchanges—its responsiveness and accessibility remain commendable.
Support Availability
- Live Chat: 24/7 (English, with some availability in Russian)
- Email: 24/7 (support@changelly.com)
- Phone Support: Not available
- Customer Support Experience
During a two-week testing period, I reached out to Changelly’s support team using both the live chat and the ticketing system. I was pleasantly surprised by the speed of their responses; both methods yielded replies within just a few minutes, which is notably quick for the cryptocurrency industry.
In the live chat, I connected with an agent in approximately three minutes. The agent was knowledgeable and directed me to relevant resources in the Knowledge Base. However, while the response time was impressive, I found the quality of assistance in live chat to be somewhat lacking compared to the more thorough responses I received via email. The agent who addressed my ticket provided informative and comprehensive answers to my inquiries.
Language Support
While the live chat is primarily conducted in English, the support system appears to adjust language options based on the user’s location. This adaptability may offer a more tailored support experience for international users, although the visible language options are limited to prevent overwhelming users.
Summary of Customer Support Performance
- Response Time: Fast, with replies within minutes for live chat and approximately 15 minutes for email inquiries.
- Support Quality: Generally good, with better experiences reported through the ticketing system compared to live chat.
- Language Options: Primarily English, with some support in Russian; other languages may be offered based on geographical location.
While the quality of live chat support may vary, the email support offers thorough and informative assistance. For users seeking help with their transactions or any platform-related queries, Changelly’s customer service is a solid option, reflecting a commitment to user satisfaction in the fast-paced cryptocurrency environment.
Changelly Review: Pros and Cons
Changelly Review: Pros
Wide Range of Assets: Changelly offers access to over 500 tradeable assets and more than 1,000 trading pairs, giving you plenty of options for cryptocurrency trading.
Global Reach: The platform supports users in over 200 countries, making it accessible to a wide audience.
Self-Custodial Solution: As a non-custodial exchange, Changelly allows users to retain control of their funds, enhancing security and user autonomy.
High-Quality Customer Service: Changelly provides responsive customer support, available 24/7 via live chat and ticketing, ensuring that users receive assistance when needed.
Comprehensive FAQ Section: The platform features a detailed FAQ section that addresses common queries, making it easier for users to find information.
Changelly Review: Cons
Low Ratings from Independent Evaluators: Changelly has received low ratings from some independent crypto evaluators, which may raise concerns for potential users.
Hidden Fees and Charges: There are reports of hidden fees associated with transactions, which can affect the overall cost of trading.
Geographical Limitations: Some crypto-to-fiat transactions are subject to geographical restrictions, potentially limiting options for users in certain regions.
Changelly presents a compelling option for cryptocurrency trading with its extensive range of assets and solid customer service. However, potential users should be aware of the hidden fees and geographical limitations before engaging with the platform. As always, conducting thorough research and considering personal trading needs is essential.
Changelly Review: Is Changelly Right for You 2024?
When choosing a cryptocurrency exchange, it’s crucial to recognize that different traders have varied needs and preferences. Some prioritize user-friendly interfaces for quick trades, while others seek advanced features like leverage or social trading. To help you determine if Changelly is the right fit for you, we categorize traders into seven key target groups, assessing how well Changelly meets their requirements.
Casual Traders: Acceptable Choice
For casual traders who want to exchange assets quickly without the hassle of registering on centralized exchanges, Changelly Basic is a solid option. It allows users to swap cryptocurrencies without the need for KYC, facilitating a smoother onboarding process. While it may lack some standard security measures, Changelly’s non-custodial model enhances its security. Users can quickly switch between cryptocurrencies across different blockchains using non-custodial wallets.
Pros:
- A vast array of trading pairs.
- User-friendly interface.
- Simple conversion methods for cryptocurrencies.
Cons:
- Low ratings from independent evaluators.
- Potential hidden fees.
Day Traders: Acceptable Choice
Changelly Pro presents a viable option for day traders who utilize candlestick charts and analytical tools. The integration with TradingView allows for effective market analysis directly within the app. However, the platform’s selection of trading pairs is somewhat limited, and liquidity may be low for many assets. Overall, the platform’s standard trading layout and average fees provide a reasonable experience for active traders, especially with security features like 2FA.
Pros:
- TradingView integration for enhanced analysis.
- Fast order execution.
Cons:
- Limited number of tradable assets.
- Low liquidity for certain pairs.
- Low ratings from independent evaluators.
Hodlers & Position Traders: Not Recommended
For those looking to hold assets long-term, Changelly may not be the best choice. Although the platform supports a broad range of cryptocurrencies, it lacks tools for passive income, such as lending or staking. Additionally, hidden fees and unfavorable exchange rates make it less suitable for position traders. However, the platform’s efficient customer service may benefit novices seeking assistance with their crypto purchases.
Pros:
- Extensive selection of tradable assets.
- Referral program.
- Responsive customer service.
Cons:
- No passive income tools.
- Lack of welcome offers or bonuses.
- Hidden fees.
- Low ratings from independent evaluators.
Leverage & Derivatives Trading: Perfect Match
Changelly is a great fit for traders interested in leverage and derivatives. While its contract offerings are fewer compared to larger exchanges like Binance or OKX, it allows for high leverage, with futures available at 50x to 100x and margin trading leverage from 3x to 25x depending on the asset. This makes Changelly Pro an attractive choice for those looking to diversify their portfolios with higher-risk assets.
Pros:
- Leverage of up to 100x on futures.
- Margin trading leverage up to 25x.
- Various order types available.
Cons:
- Smaller selection of contracts.
- Low liquidity for some trading pairs.
Auto, Social & Copy Trading: Not Recommended
Changelly does not cater to auto, social, or copy traders, as it lacks the advanced functionalities necessary for these trading styles.
Algorithmic Traders: Not Recommended
Similarly, algorithmic traders may find Changelly lacking, as the platform does not support trading bots or other automation tools that facilitate algorithmic strategies.
DCA Investors: Not Recommended
Lastly, for investors employing a Dollar-Cost Averaging (DCA) strategy, Changelly is not suitable due to its absence of automation features for this approach.
Changelly presents an acceptable choice for casual and day traders, particularly those who appreciate the platform’s non-custodial model and straightforward interface. However, it falls short for long-term investors, algorithmic traders, and those seeking advanced trading functionalities. By considering your trading style and needs, you can determine if Changelly aligns with your goals.
[button url=”https://changelly.com/?from=btc&to=eth&amount=0.1&ref_id=UfAtVCyuB0qw-ygZ” target=”blank” style=”3d” background=”#49ef2d” color=”#FFFFFF” size=”10″ wide=”no” center=”yes” radius=”auto” icon=”icon: mail-forward” icon_color=”#FFFFFF” text_shadow=”none”]Visit Changelly[/button]Changelly Review – Frequently Asked Questions
Is Changelly a legitimate exchange?
Yes, Changelly is a trustworthy and secure cryptocurrency exchange with a solid reputation. It operates on a non-custodial model, which reduces counterparty risk, and has never experienced a hacking incident.
Can residents of the United States use Changelly?
Absolutely! Changelly is accessible to U.S. residents. By utilizing various payment processors, the platform can cater to users in nearly every country without holding custody of customers’ assets.
Has Changelly experienced any hacking incidents?
No, Changelly has maintained a clean security record and has never been successfully hacked since its inception. Its non-custodial structure enhances its overall security.
Does Changelly require users to complete KYC (Know Your Customer)?
Generally, no KYC is required. However, in cases where suspicious activity is detected, the platform may occasionally ask certain users to undergo verification.
Can I engage in leverage or margin trading on Changelly?
No, Changelly does not offer leverage or margin trading options. The platform is designed to keep the exchange process straightforward, making it user-friendly for those who may not have technical expertise.
Is my money secure with Changelly?
Yes, as a non-custodial exchange, Changelly does not hold users’ funds. Your assets remain in your personal wallets, ensuring their safety.
Is Changelly regulated by any financial authority?
No, Changelly operates without regulation from any financial authority. Its non-custodial model allows it to function in various regions without external oversight.
Does Changelly provide any bonuses, welcome offers, or referral programs?
Yes, Changelly features a referral program where users can earn up to a 50% revenue share from transactions made by friends. Additionally, it offers a hybrid earning program for marketers and advertising professionals.
Conclusion
This “Changelly Review” highlights the platform’s numerous advantages, including its support for over 500 tradable assets and dedicated customer service. As a non-custodial exchange, Changelly empowers you to maintain control of your assets safely and transparently. While there are some limitations, such as hidden fees and geographical restrictions for fiat transactions, the platform remains an excellent choice for those looking to dive into the world of cryptocurrency without requiring extensive technical knowledge.
At CoinReviews, we strive to provide in-depth and reliable assessments of trading platforms like Changelly. Let us accompany you on your journey to smart and successful investing in the cryptocurrency realm. With accurate information and detailed guidance from us, you’ll feel more confident in making your investment decisions!
Read more:
- Binance Review: Features, Supported Cryptos and Fees!
- Bybit Review: Pros, Cons and Key Features
- OKX Review: Pros, Cons, Future Potential & More
- HTX Review: Fees, Security, Pros & Cons
- Bitget Review: Pros & Coins, Fees & More
- Bitfinex Review: Is It Secure or Scam?
- Kucoin Review: Social Trading, Fees, Pros & Cons
- Crypto.com Review: Is the Exchange Safe or Scam?
- BingX Review: Verified Reviews, Pros & Cons
- LBank Review: Should You Use It?
- bitFlyer Review: Pros & Cons and Ratings
- ProBit Review: Is It the Right Crypto Exchange for You?
- P2B Review: Fees, Features, Safety, Pros & Cons
- Pionex Review: Pros, Cons & All You Need to Know
- BitMEX Review: Fees, Trading, Staking & More
- Phemex Review: Is It a Good Crypto Exchange?
- BTSE Review: Is It Safe & Reliable?
- CoinEx Review: Is This Crypto Exchange Safe?
- Poloniex Review: Features, Regulation & Risks
- BITFLEX Review: Features, Safety, Pros & Cons
- CoinJar Review: Is It the Right Exchange for You?
- Paymium Review: Pros, Cons, Key Features & Fees
- LBank Review: Is It the Right Exchange for You?
- MEXC Review: Latest Pros, Cons, Key Features & Fees
- BitMart Review: Reviews, Trading Fees & Cryptos