Decentralized Exchange

Changelly Exchange Review – The Complete Beginner’s Guide

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

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As 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.

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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.

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

What is Changelly?

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

It 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 respective exchanges to suggest the best available rates on trading pairs.

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

It Is One Of The Most Used Cryptocurrency Exchanges That Has Gained The Trust Of More Than 2M Users From All Over The World. 

How to Set Up Account

Step 1: Navigate to the official site and click the green ‘Sign Up’ button located on the top right-hand of the page.

Step 2: Enter your email address, and click on the ‘Continue to exchange’ button.

Step 3: Alternatively, you can create your account using your existing profile on Google+, Facebook, or Twitter.

Step 4: Within a few minutes, you will receive a confirmation email from the Changelly team.

Step 5: Click the confirmation link on that email to activate your account. After this, you will receive another email with your login credentials.

How to recover the Changelly password?

If you accidentally forget 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.

How to Buy Cryptocurrencies 

Step 1: Log in to your account. Click the ‘Exchange Now’ button.

Step 2: Select the coin you want to exchange from the upper field, and the coin you want to buy from the lower field.

Step 3: Double-check the amount specified, the amount you want to get, and click the ‘Next step’ button.

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.

Step 5: Then Click on the “Buy crypto button” and get redirected to Fiat-to-Crypto Marketplace. Before clicking, copy the generated wallet address,

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.

How to Sell Cryptocurrencies

Step 1: Log in to your account. Click the ‘Exchange Now’ button.

Step 2: Select the coin you want to exchange from the upper field, and the coin you want to sell from the lower field.

Step 3: Double-check the amount specified, the amount you want to get, and click the ‘Next step’ button.

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.

Step 5: Then Click on the “Sell crypto button” and get redirected to Fiat-to-Crypto Marketplace. Before clicking, copy the generated wallet address,

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.

How to Swap Tokens on Changelly

Step 1: Head to your account, Choose the crypto pair you want to exchange, and enter the amount. (Choice available between fixed and floating rate)

Step 2: Press “Exchange Now” to proceed. Now, Paste the wallet address that the crypto resulting from the exchange will be sent to. Once that’s done, click ‘Next step’ to proceed

Step 3: View the order summary on the Checkout step, then click the ‘Confirm and make payment button.

Step 4: Send the exact amount of crypto to the address provided by Changelly in one transaction.

Step 5:The exchange process begins. This process usually takes from 5 to 30 minutes.

How to deposit on Changelly?

Step 1: Log in to your account. Click or tap on the green Deposit button in the right corner.

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.

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.

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.

Step 5: Click on Confirm & Make Payment. Here you will see the wallet address on which you need to deposit the cryptocurrency

Step 6: Once the deposit is over, you will also receive an email letting you know the transfer happened.

Deposit & Withdrawal Procedure 

Step 1: Log in to your account. Click or tap on the green Deposit / Withdraw button in the right corner.

Step 2: Choose from the currency you wish to deposit/withdraw into Changelly and click on the “Deposit”/”Withdraw” arrow. This will automatically generate your wallet address.

Step 3: Copy the generated wallet address. If you own a cryptocurrency you would like to deposit/withdraw use your wallet to send money directly to the copied address.

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.

Step 5: Click on Confirm & Make Payment. Here you will see the wallet address on which you need to deposit/withdraw the cryptocurrency

Trading Fees

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 cryptocurrencies creates an opportunity to exchange any two currencies directly with ease.

They accept 3 fiat currencies for buying crypto, namely:

  • USD
  • EUR
  • GBP

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.

Referral Commission & Other Services

Changelly affiliate program 

It is an affiliate program that provides every affiliate partner with up to 50% of Changelly’s revenue from both crypto-to-crypto and fiat-to-crypto transactions. In order to avail this, a user needs to-

  • Go to the Changelly Earn page.
  • Choose one of the available tools (exchange widget, exchange button, referral link, banner, or API for developers) and then add it to their platform.
  • start generating income from every executed transaction.

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

The platform 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. 

Is Changelly Safe and Secure?

Changelly is a reputable cryptocurrency exchange that has been in operation since 2015. Users from all around the world have put their trust in the online crypto platform, which continues to develop. 

The decentralised exchange is a secure, non-custodial cryptocurrency exchange. Users’ funds are not kept on the web platform, which may be hacked or compromised otherwise. To give additional account protection and safety, 2 Factor Authentication can be used to secure user accounts.

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.

It 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. 

FAQ

  1. Is Changelly Safe?

Changelly is a secure, non-custodial cryptocurrency exchange. Users’ funds are not kept on the web platform, which may be hacked or compromised otherwise. To give additional account protection and safety, 2 Factor Authentication can be used to secure user accounts.

  1. Can US citizens use Changelly?

Changelly welcomes users from all corners of the globe. They will also accept payments in any currency, but they will convert it to either the Euro or the US Dollar.

  1. Does Changelly require ID verification?

Yes, if it’s your first crypto purchase on Changelly, proof of identity will be required.

  1. Can you make money on Changelly?

Yes, Users can sign up for Changelly Earn and make money. Scroll above to know more.

  1. Can I buy Dogecoin on Changelly?

Yes, one can buy Dogecoin on Changelly.

Changelly - 7.6

7.6

Changelly Exchange Rating
  • Currency Support
  • Online Reputation
  • Fees
  • Customer Support
Overall
3.8

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
  • Few negative comments from the users

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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