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Changelly

Changelly Review

Changelly is a notable cryptocurrency instant exchange that is home to over 2-million users. In contrast to regular exchanges, Changelly stands out by supporting crypto-to-crypto exchanges without forcing you to go through the hassles of registering an exchange account or going through lengthy KYC procedures. Moreover, Changelly doesn’t hold users’ funds in a custodial wallet giving complete freedom to users. Additionally, the Changelly platform also serves as a fiat-to-crypto gateway, allowing users to purchase cryptocurrency instantly with their credit cards. Besides that, Changelly also offers a diverse range of crypto options for European customers through SEPA.

Key features

  1. An instant and trustworthy way to exchange, buy, sell, and spend cryptocurrencies; Users don’t have to register on the Changelly platform to exchange altcoins, which is a core element of its seamless experience. However, Fiat-to-Cryptocurrencies may require some verification.
  2. Compatible with over 150 unique cryptocurrencies and 25,000 trading pairs, Changelly offers an array of diverse options to its users, making it one of the most versatile exchanges in the market.
  3. Non-Custodial Exchange; Changelly serves as intermediary service. It doesn’t hold users’ funds at any point in time.
  4. User-Friendly Mobile App; Buy, sell, swap, or trade cryptocurrencies instantly using the Changelly app on both iOS and Android.
  5. Exemplary Customer Service; Changelly’s customer service operates 24 hours, seven days a week. Their customer support team is amicable and convenient. Users can reach out to them any time of the day through their website or the mobile app.

Background

Changelly is a long-established player in the crypto ecosystem operating since 2013. Founded by MinerGate, a bitcoin mining pool, Changelly was transformed into an independent exchange in 2014. In 2016, Changelly went through substantial technological changes, and since then, it has served home to over 2 million users worldwide.

Where is Changelly based?

Changelly originated in Hong Kong, China, and currently does not operate through a physical headquarter where customers could access its services.

Does Changelly have any geographical restrictions?

Unfortunately, according to Changelly’s terms and conditions, users from the following countries are not geographically restricted from accessing their services:

  • Cuba
  • Iran
  • North Korea
  • Crimea
  • Sudan
  • Syria
  • Bangladesh
  • Bolivia
  • The United States
  • Other countries on the U.S. sanctions list.

Changelly’s services offered may differ from state to state in the United States.

Changelly Fees

While Changelly is a user-friendly, instant service that makes buying, selling, trading, and swapping cryptocurrencies extremely accessible; however, its fees are comparatively higher than centralized exchanges.

Changelly has a fixed rate of 0.25% of all trades. Moreover, users can choose from either Floating rates or Fixed rates. Additionally, Changelly also charges users with blockchain network fees that come with every transaction; however, the platform does cover up the costs during promotions and celebratory periods.

Changelly offers a competitive swap fee compared to most exchanges in the market; however, it does not outperform notable exchanges like Binance. Contrarily, Changelly may be a better option in the long run as it offers direct altcoin trades from an extensive list of trading pairs.

Lastly, Changelly is compatible with Bits of Golds, enabling European and Israeli citizens to buy, sell, swap, and trade cryptocurrencies in exchange for euros. A bitcoin sale’s initial fees are 6.5%, which is directly credited into the user’s European SEPA bank account.

Pros

  • An ideal way to trade altcoins.
  • Instantly buy cryptocurrencies with fiat.
  • Non-custodial exchange.
  • Trade, buy, sell, and spend without the hassles of registration.
  • nstant and trustworthy.
  • 24/7 Customer Support.

Cons

  • A potentially malicious transaction could trigger a KYC check.
  • Expensive fiat-to-crypto purchases.
  • Is more costly than regular centralized exchanges in the market.
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Conclusion

In conclusion, Changelly is an exemplary instant swaps service considering fees. The Platform offers competitive rates; however, their fiat-to-cryptocurrencies purchases may be on the costlier spectrum. Changelly’s diverse range of supported cryptocurrencies is unparalleled in the market.

With over 150 unique cryptocurrencies and 25,000 trading pairs, and compatibility with standard European SEPA Accounts, Changelly is a fantastic choice for the European customers who want to buy, sell, trade, or swap cryptocurrencies instantly.