Changelly is an instant cryptocurrency exchange, which is non-custodial and has been in working since 2015. As an intermediary, Changelly operates between crypto exchanges and users, that provide access to more than 150 cryptocurrencies. Users can switch between cryptocurrencies except storing any coins on the exchange.
As a platform, Changelly has grown millions of users across the world, showing a monthly bitcoin turnover of 600,000 BTC.
In this Changelly review, we will get to know everything needed for you before getting connected.
Is Changelly Legit?
Changelly is based in Malta, and it was launched in 2015. The executive team includes Eric Benz as a CEO, Konstantin Gladych as a Founder and Ilya Bere as a Co-Founder.
All countries and currencies can use Changelly; however, transactions must be in either GBP, USD, or EUR.
Here is a list of countries that Changelly support for BTC to EUR withdrawals:
- Sweden Ireland
- United Kingdom
The cryptocurrency market is considered as an impulsive, and most of the exchanges don’t have a fixed rate. Changelly is not any exclusion. If it comes to a fixed rate, then it might be forced to cover market risks.
Just because of such factors, the platform has a specific amount of commission for cryptocurrency to cryptocurrency trades and a commission to purchase cryptocurrency with a credit card or debit card.
Here is the fee schedule:
- Changelly charges about 0.25% fee on crypto-crypto exchanges
- Simplex charges a 5% processing fee for credit card and debit card purchases
Features of Changelly
- The exchange fee is only 0.5%
- Exchange Bitcoin into another supported cryptocurrency
- Supports USD Tether USDT
- With credit/debit card, buy Bitcoin on Changelly
- Make an account of the user so that you can track previous exchanges
How to Use Changelly?
You can exchange crypto with Changelly by following a few simple steps:
- Choose the crypto-pair that you want to exchange and set the amount
- Check the amounts twice and transfer details including fee, exchange rate, and estimated arrival
- Add the wallet address of the recipient and confirm data once again to process the payment
- Wait for the procedure to be completed (e.g., 5 to 30 minutes)
Direct Buying Fees
When you are in search of buying cryptocurrencies with a credit card on Changelly, you may notice fees are higher. You need to understand why. On Changelly, all transactions of bank cards are available by Simplex and Indacoin. Changelly supports direct payment for BCH, BTC, XRP, LTC, and ETH that are given by Simplex so that you can buy these cryptos except double conversion.
However, while buying another coin available on Changelly, the transaction might be processed by Indacoin. In that case, the fiat amount may be converted double from fiat to BTC and from BTC to your requested cryptocurrency.
Undoubtedly, the whole field is seeking to provide satisfactory customer service. Changelly seems to be doing an amazing job with a bit higher level of the reliable score with positive Changelly reviews. All the team members reply within hours, and lots of problems get fixed in just 24 hours. The website layout is purely user-friendly and easy to understand.
There is an in-depth FAQ available that assists you instruct yourself about the site and service. On the website, a chatbox is also there.
- Reputable and well-known
- 0.5% flat cryptocurrency exchange fee
- With an email, you can start trading
- Security breaches have no history
- Safe platform
- Changelly has widgets and API
- Mobile app
- 24/7 Live support
- High fees with fiat currencies
- Service can be slow rarely
How to Buy Cryptocurrency on Changelly?
Buying digital currency on Changelly is much effortless. You don’t need to have ID verification to start trading as after adding credit or debit card details, you can look around through the list of more than 140 cryptocurrencies and buy any of them. Your coins may appear on the account within a few moments.
Is Changelly Legit?
Changelly is a legitimate site and a useful service as well. For all the reliable cryptocurrencies, they keep on supporting, and their support system is too good. In a nutshell, Changelly review shows that it can save you lots of time when you need to have a hold on some popular cryptocurrency.