Decentralized Exchange

Changelly Exchange Review – The Complete Beginner’s Guide

Changelly is an instant crypto exchange. Read more about the exchange in this review.

Overview

Legal NameChangelly Exchange
HeadquartersMalta
CEOEric Benz
Year Founded2015
Exchange TypeDecentralized
Trading FeesMaker: 0.25%/ Taker: 0.25%
Deposit MethodsCredit cards (VISA and MasterCard).
Supported Cryptos150+ cryptocurrencies including Bitcoin (XBT), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP) and more
Fiat USD, Euro, Pounds
Customer Service Email, Phone
Trading OptionsSpot Trading, Margin Trading

Well, as the cryptocurrencies grow in popularity over the years, so does the demand for good and reputable crypto trading platforms. The more of these platforms emerge, the bigger becomes the competition for the attention of the users.

Some platforms succeed at accomplishing this, others fail and perish away as fast as they came to be. One such very popular cryptocurrency exchange platform is Changelly.

In this article, we will cover the complete aspects of the Changelly exchange such as its features, fees, supported currencies, trading, and much more. Let us dig into this Changelly Review in detail now, 


Do you know? As of today, Changelly exchange has reached 2 million users worldwide and supports 150+ cryptocurrencies. 

What is Changelly?

Changelly is a unique cryptocurrency exchange which is in operation since 2015 and is headquartered in Malta. The Changelly exchange is best geared towards users who want to quickly acquire a cryptocurrency for the exchange of another cryptocurrency. 

Changelly uses an automatic trading robot that integrates with some of the largest trading platforms, including Poloniex, Binance, and Bittrex. It operates by making bids and asks on respective exchanges to suggest the best available rates on trading pairs.

Changelly users can also buy a variety of cryptocurrencies with fiat money including USD, Euro, and Pound.  

Changelly is one of the most used cryptocurrency exchanges that has gained the trust of more than 2M users from all over the world. 

Changelly Services

Changelly offers an instant, simple, and relatively anonymous crypto to crypto exchange service. The service can be accessed via the company’s website, its mobile app (Android only), or through various third party wallets.

Changelly also offers to integrate some of the wallets. The most popular wallets that integrate Changelly are TREZOR, Ledger, Exodus, Jaxx, Coinomi, and Edge.

Changelly also offers its API and a customizable payment widget for websites. Using the widget, users can exchange crypto from within the site without needing to go to Changelly’s website. 


Did you know? Changelly handles thousands of transactions per day. ETH/BTC trading pair is the highest traded pair on the exchange.

Changelly Fees and Limits

Changelly fees consist of deposit fees, trading fees, and withdrawal fees. Changelly Exchange rates are 0.25% Flat, meaning that takers and makers both pay 0.25% of the total order value of the trade as a fee to Changelly.

You can deposit your funds through regular fiat transfer via Changelly’s corporate partners using credit cards (VISA and MasterCard). Deposit fees vary depending on the way you deposit your funds. This exchange charges 0.0001 BTC in withdrawal fees for BTC-withdrawals.

Changelly Supported Currencies

It supports more than 150+ cryptocurrencies listed on Changelly. The wide range of cryptocurrency creates an opportunity to exchange any two currencies directly with ease.

They accept 3 fiat currencies for buying crypto, namely:

  • USD
  • EUR
  • GBP
changelly-supported-currency

Changelly Mobile App

In addition to the Changelly services through the web, it also has a dedicated app for both Android and iOS devices. This allows you to carry out all the necessary transactions and other features on the go.

changelly-mobile-app

How to register on Changelly?

  1. Step 1:

    Navigate to the official site and click the green ‘Sign Up’ button located on the top right-hand of the page.

  2. Step 2:

    Enter your email address, and click on the ‘Continue to exchange’ button.

  3. Step 3:

    Alternatively, you can create your account using your existing profile on Google+, Facebook, or Twitter.

  4. Step 4:

    Within a few minutes, you should receive a confirmation email from the Changelly team.

  5. Step 5:

    Click the confirmation link on that email to activate your account. After this, you will receive another email with your login credentials.
    changelly-register

How to recover the Changelly password?

If you accidentally forgot your password, Go to the login page and just click on the “forgot password” option and an email will be sent to the registered email address along with the instructions on what you need to do to get your new password.

changelly-recover-password

How to deposit on Changelly?

  1. Step 1:

    Log in to your account. Click or tap on the green Deposit button in the right corner.

  2. Step 2:

    Choose from the currency you wish to deposit into Changelly and click on the “Deposit” arrow. This will automatically generate your wallet address.

  3. Step 3:

    Copy the generated wallet address. If you own a cryptocurrency you would like to deposit, use your wallet to send money directly to the copied address.

  4. Step 4:

    Click on Next. On the next page, you need to enter the wallet address on which you wish to receive your transferred cryptocurrency.

  5. Step 5:

    Click on Confirm & Make Payment. Here you will see the wallet address on which you need to deposit the cryptocurrency

  6. Step 6:

    Once the deposit is over, you will also receive an email letting you know the transfer happened.

How to withdraw on Changelly?

  1. Step 1:

    Log in to your account. Click or tap on the green Withdraw button in the right corner.

  2. Step 2:

    Choose from the currency you wish to deposit into Changelly and click on the “Withdraw” arrow. This will automatically generate your wallet address.

  3. Step 3:

    Copy the generated wallet address. If you own a cryptocurrency you would like to withdraw, use your wallet to send money directly to the copied address.

  4. Step 4:

    Click on Next. On the next page, you need to enter the wallet address on which you wish to receive your transferred cryptocurrency.

  5. Step 5:

    Click on Confirm & Make Payment. Here you will see the wallet address on which you need to withdraw the cryptocurrency

  6. Step 6:

    Once the withdrawal is over, you will also receive an email letting you know the transfer happened.

How to buy cryptocurrencies on Changelly?

  1. Step 1:

    Log in to your account. Click the ‘Exchange Now’ button.

  2. Step 2:

    Select the coin you want to exchange from the upper field, and the coin you want to buy from the lower field.

  3. Step 3:

    Double-check the amount specified, the amount you want to get and click the ‘Next step’ button.

  4. Step 4:

    Select a default currency which can be USD, GBP, or EUR from the widget menu. Set the fiat amount and choose the crypto you want to buy.

  5. Step 5:

    Then Click on the “Buy crypto button” and get redirected to Fiat-to-Crypto Marketplace. Before clicking, copy the generated wallet address,

  6. Step 6:

    Within 5-30 minutes, your transaction will be complete and you will receive cryptocurrency to your wallet and transaction details to the provided email.
    buy-cryptocurrency-on-changelly

How to sell cryptocurrencies on Changelly?

  1. Step 1:

    Log in to your account. Click the ‘Exchange Now’ button.

  2. Step 2:

    Select the coin you want to exchange from the upper field, and the coin you want to buy from the lower field.

  3. Step 3:

    Double-check the amount specified, the amount you want to get and click the ‘Next step’ button.

  4. Step 4:

    Select a default currency which can be USD, GBP, or EUR from the widget menu. Set the fiat amount and choose the crypto you want to buy.

  5. Step 5:

    Then Click on the “Sell crypto button” and get redirected to Fiat-to-Crypto Marketplace. Before clicking, copy the generated wallet address,

  6. Step 6:

    Within 5-30 minutes, your transaction will be complete and you will receive cryptocurrency to your wallet and transaction details to the provided email. sell-cryptocurrencies-on-Changelly

Changelly Pros and Cons

Pros

  • Offers a flat cryptocurrency exchange fee of 0.5%
  • Safe & Secure cryptocurrency exchange
  • 150+ currencies available
  • 24/7 Live chat support
  • A recently launched mobile app.

Cons

  • High fees when trading with fiat currencies
  • Unable to sell cryptocurrency for fiat money
  • A high transaction fee of 0.5%
  • It is a fairly new company
  • Few negative comments from the users

Conclusion

Changelly is an excellent platform for buying and exchanging cryptocurrencies in a fast and easy way. They have competitive fees and a large selection of cryptocurrency assets to choose from.

Changelly is not only a legitimate website, but it’s also a useful service that every cryptocurrency user should be bookmarking.

 If you are somebody who wants to sign up for a more traditional exchange where you can compete for the best price, Changelly could be the best option for you. 

Recent Updates

  • On March 30, 2020, Freewallet Launches Anti-crisis Off-chain Exchanges with Changelly
  • On April 20, 2020, Changelly to Introduce Fiat-to-Crypto Marketplace
  • On June 19, 2020, Crypto Wallet’s New Tech Speeds Up Transfers and Boosts Anonymity
  • On July 21, 2020, Changelly launches new trading platform Changelly PRO
  • The exchange has been catering to traders since April 2015. In these 5 years, Changelly has become one of the top exchanges to provide fast crypto transactions. The platform also supports 150+ cryptos.

Changelly FAQ’s 

  1. How does Changelly work?

    Changelly’s trading algorithm is integrated into the largest cryptocurrency exchange platforms, including Binance, Poloniex, Bittrex, etc.

  2. How do I cancel my transaction?

    Unfortunately, blockchain transactions are irreversible. So, if you are going to exchange cryptocurrency, be sure to double-check all payment details carefully before sending it.

  3. How long does it take to exchange coins with Changelly? 

    According to Changelly, a typical switch takes between 5 to 30 minutes. The time may change if it is subjected to the KYC check.

  4. What currencies does Changelly accept?

    You can buy any of the 150+ cryptocurrencies listed on Changelly. They accept 3 fiat currencies for buying crypto, namely: USD, EUR, GBP.

  5. How safe is Changelly?

    Very safe. They have a good reputation and have two-factor authentication enabled.

Changelly Ratings

Reviewed By Devid

Easy to use
Trading      
Fees and Limits
Registration

Summary

Changelly is a unique cryptocurrency exchange which is in operation since 2015 and is headquartered in Malta.

3.8
Changelly - 7.6

7.6

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David

David Kariuki is a journalist who has a wide range of experience reporting about modern technology solutions including cryptocurrencies. A graduate of Kenya's Moi University, he also writes for Hypergrid Business, Cryptomorrow, and Cleanleap, and has previously worked for Resources Quarterly and Construction Review magazines.

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