Cryptocurrencies enable you to transact anonymously. However, some popular crypto exchanges which people use to purchase cryptocurrencies do not allow full anonymity in crypto transactions. To solve this problem, Changelly came up with a relatively confidential and secure cryptocurrency exchange that anyone can use. In this article, we will have a closer look at Changelly and the services that they have to offer.
Pros
Relatively anonymous. Changelly prides itself on the fact that it offers anonymity to its users. You will be able to make crypto-to-crypto trades on this platform without having to worry about any KYC norms.
Cryptocurrency support. Changelly is one of the few crypto exchanges that support over 140 different cryptocurrencies. So, you will most likely find all your favorite crypto assets on this platform.
Low fees: This platform charges a low fee of 0.5% for all crypto-to-crypto transactions. This is certainly acceptable when considering the convenience that they have to offer.
Cons
High fees on fiat trades. This platform charges high prices on all fiat trades.
Support. While customer care is pretty good, having live chat support would be great for this Exchange.
The Takeaway
Yes, Changelly has a couple of cons, but the pros outweigh them.
The high fees on fiat can be avoided if you decide to use crypto in your transactions. Also, customer care makes up for the lack of live support.
Anonymous transactions, a large crypto pool, and low crypto fees make Changelly a desirable platform in the crypto world.
What Is Changelly?
Changelly is primarily an anonymous crypto-to-crypto exchange. It is a secretive way of transacting since you only need to sign-up on the platform using your email ID to get started.
This platform provides an effortless way for you to exchange between two different cryptocurrencies at a very fast speed. Thus, a hassle-free conversion is done without any delays. Any transaction in the platform costs a fee of just 0.5%. This is considerably cheap for the level of service that it provides.
Changelly also offers a fiat-to-crypto exchange service where you can buy cryptocurrencies using fiat currency. However, the fee that you would need to cough up is high. Therefore, it is better to stay away from this platform if you plan to buy cryptocurrencies using real-world money. Now that we have an idea about the platform let us look at the history behind it.
History
Changelly is one of the veterans of the crypto industry. This platform was founded during the initial boom of Bitcoin in 2013. Started by a company called Minergate, Changelly gained enormous popularity for its easy-to-use exchange services. This was also the only Exchange at that time to offer relative anonymity to its users.
When they started, they offered instant crypto-to-crypto exchange services. All you had to do is decide on the cryptocurrency exchange pair and send the required funds to the address provided.
The funds would then be converted from one cryptocurrency to another using the predetermined exchange rate. This would then be transferred to your chosen wallet address.
Since then, Changelly has significantly evolved, and they now offer similar professional features that you see in other major exchange platforms.
Changelly Services
Changelly Exchange
This is by far the most user-friendly crypto exchange service that I have ever used. On this Exchange, you have the option to buy, sell, or Exchange over 50 different cryptocurrencies.
If you use the exchange feature, you will be able to exchange one crypto asset for another. All you need to do is provide your wallet address and deposit the specified number of tokens into the Changelly address. This would then be exchanged, and the crypto asset you requested would be deposited in your wallet.
They also offer services to buy and sell cryptocurrencies for fiat currency. You can do this by using bank cards. While this would allow you to buy cryptocurrency instantly, it does come with a higher fee attached to it. So, only use this option if you want cryptocurrencies immediately.
Changelly Earn
This is a service offered by Changelly that is hugely beneficial to content creators out there. Websites and blogs that receive thousands of visitors every day can use this service provided by Changelly.
By signing up for Changelly Earn, you receive a widget that you can place anywhere on your website. This would provide your visitors with the capability to instantly convert one cryptocurrency to another without leaving your website.
In return for every transaction made on the widget, you will gain a specific cashback in terms of cryptocurrency. You can withdraw your earnings from the Changelly Earn dashboard once it reaches a certain threshold.
Changelly Pro
Changelly Pro serves as an upgrade to the regular Changelly trading experience. It features additional services such as Intuitive Trading Terminal, Multi-currency Wallet, Real-time Sales viewer, and Withdrawal Whitelists. Together, these perks can greatly help a veteran trader in earning more money on the platform.
Changelly Pro offers support on the top coins in the market, such as Ethereum, Bitcoin, Litecoin, Stellar, and Ripple. Additionally, real liquidity is seen in these currencies. Keep in mind that a fee is necessary to use the Pro version, but it is a good investment since you get 24/7 live support and helpful charts for trading.
The Changelly Pro platform also flaunts a dedicated wallet facility. This allows you to deposit your cryptocurrencies in this wallet and later use it to trade for other cryptocurrencies.
The spot wallet provided by Changelly does not support a fiat currency deposit. However, you can directly buy cryptocurrency using your credit card. This cryptocurrency would then get deposited in your Changelly Pro wallet. The only downside about using this feature is that you would need to pay a higher fee to convert fiat into crypto.
Changelly Blog
This is a service offered by Changelly that is hugely useful for new cryptocurrency users. In this section of the platform, you will find extremely informative guides about various topics.
The Changelly blog is my go-to knowledge base if I want to understand more about a particular cryptocurrency. The how-to guides and honest cryptocurrency project reviews are some of the best I have found on the internet.
Changelly Account Limits
There are no limits when it comes to all crypto-to-crypto transactions on the platform. However, all fiat transactions involving fiat currencies do come with a limit attached to them. This limit varies depending on the region where you are using the platform.
If you are accessing the platform from the USA or Australia, the maximum limit on your first transaction is $50. This can be increased to $500 only after a week. Additionally, you cannot make more than three transactions in the first week after joining the platform.
In the European region, the maximum first transaction limit is $100, increasing to a higher limit after a week. For both American as well as European regions, there is no upper monthly transaction limit.
For all other areas, the account limits on fiat transactions are $50 to $10,000 on the very first transaction. A daily limit of up to $20,000 and a monthly limit of $50,000 is applied to your account.
Overall, such limits are created to avoid exploiters on the site. This helps in creating a safer and more secure environment for Changelly users.
Payment Methods
The most popular services on Changelly, such as the crypto exchange and Changelly Pro, use crypto assets as a payment method.
Changelly Pro allows you to use a credit card to buy cryptocurrency. Other payment methods accepted on Changelly include Master Cards, Bank transfers, and Apple Pay.
As this covers most of the popular payment providers out there, it is relatively easy to buy cryptocurrency on Changelly.
Fee
I like Changelly because of the low, fixed fee they charge when you use their exchange services. Yes, a flat fee of 0.5% might not be the lowest in the industry. However, when you consider the level of convenience that Changelly offers, this fee is certainly worth it.
While this is the fee you pay when you use most of the services on this platform, the fee is ridiculously high when you choose to buy cryptocurrency using fiat payment methods.
Worry not, as the system will always remind you of the fees that need to be incurred. Thus, it is always up to you to decide if you want to proceed and pay a large price.
The only advantage of using the instant buy feature on this platform is that you can avoid the unnecessary volatility in the market and receive your crypto assets immediately.
My Experience With Changelly
I started to use Changelly before 2017 when there were very few user-friendly crypto exchanges. The instant transactions and low fees got me hooked on the service. To top things off, all the transactions made on Changelly were relatively incognito. Thus, helping me maintain my anonymity in the crypto space.
While I still haven’t used the Changelly Pro platform, from the initial outlook, they feel very premium and better than some of the existing trading platforms out there. This inclusion of a professional trading platform shows that Changelly is continuously evolving and adding new features onto its platform. Not only that, the existence of Multi-Wallet storage as well as Intuitive Terminal is sure to be beneficial for any user who is serious about cryptocurrency.
Customer Support
Changelly has a very informative help section, which would help solve most of the problems you encounter. They also provide a ticket-based resolution center that helps to resolve all your difficulties.
Before 2017, I was using Changelly regularly. Whenever I encountered an issue, the customer care executive would address the problem within a few hours.
There have been several negative reviews about Changelly’s customer service. However, upon reading them, it is clear that these cynical outlooks are due to the higher fee that Changelly charges for fiat transactions. I think that the fee is alright considering the service that the company brings to the table.
Changelly’s customer support is on par with the support services offered by other major exchanges. They always try to give straightforward solutions to issues presented by customers.
Frequently Asked Questions About Changelly
Changelly has been in the crypto industry for years. It has gained the trust of over 2 million users around the world by providing safe, secure, and fast transactions while also keeping identities anonymous. Not only that, but the platform also provides support for over 140 cryptocurrencies available in the market. From the site’s HTTPS protocol down to any account’s 2FA compatibility, Changelly is a very safe platform.
Your email is necessary for sign-up as it provides you access to your account’s history, settings, as well as password modification. If you do not like to use your email, you can utilize either one of your Facebook or Twitter account.
To purchase cryptocurrency on the platform, you need to take these steps. First, go to the site and select your chosen coin that you already have, then click on the coin that you want to receive. After selecting both, click the Exchange Now button. The next step is to confirm and make the payment by ticking the prompt box. To finish the transaction, a QR code will be displayed. This QR will serve as the address where you would send the money that you wish to be deposited. Scan the QR, make the payment, and wait for the confirmation to finish everything.
Cryptocurrency is a digital currency. Thus, some time needs to be taken to confirm each action in the blockchain command. In general, you should expect up to 30 minutes for a transaction to finish. However, this depends on the traffic existing in coin systems as well as the volatility of the market.
Verdict
Over the years, Changelly has evolved into a complete cryptocurrency exchange. With features for both professionals and new traders, it has been able to attract more users. The user-friendliness makes it extremely easy for new crypto enthusiasts to understand and invest in this market.
While the fee for fiat transactions is relatively high, it is not a deal-breaker of any sort. You can always use this platform to do relatively anonymous crypto-to-crypto exchanges. With the perks coming from a good interface, easy-to-understand processes, and instant transactions, Changelly is a competent exchange platform in the market.
For new users who want to grasp the crypto space as well as veteran ones who are looking for improvements in their trades, Changelly is the perfect tool.
Changelly Reviews
Changelly Review – January 9, 2021
★★★★★
On other cryptocurrency exchange sites, transactions would take up to an hour. However, with Changelly, exchanges last for only a few minutes. This greatly helps in cutting transaction time, and this means more money for traders such as me.
Review from Joey
Changelly Review – November 29, 2020
★★★★★
As a person who is not techy, I always found it difficult to use cryptocurrency exchange sites due to their jarring nature. However, when I used Changelly, everything seemed to be very clear due to its easy-to-use interface. I’m so glad that I found this system.
Review from Timothy
Changelly Review –September 22, 2020
★★★★★
This is an appreciation review for one of their staff named Marceline! She took the time to answer all my questions and provided me with the needed steps to solve my problem. Thank you so much for responding quickly and passionately!
Review from Ram
Changelly Review – March 7, 2020
★★★★★
No words for their customer care staff! So accommodating and knowledgeable about concerns in this platform. I thought my questions would not be answered, but he dealt them with relative ease and speed. Since then, I have never had to contact customer care. More power to the team!
Review from Kaila
Changelly Review – June 2, 2020
★★★★★
Changelly is a growing platform that offers very low exchange rates and high-quality service for customers. I am happy that I found out about this platform, as fees are very low and coins are received at breakneck speeds! I don’t think other systems can match the efficiency of Changelly.
Review from Selena
Changelly Review –May 21, 2020
★★★★
Changelly is an age-old respected platform in the crypto world. Almost anyone who has started Bitcoin 4 to 5 years ago is knowledgeable about this site’s capabilities. From my first years up until now, Changelly has constantly been helping me with my deals. I am so glad that I am part of this fantastic platform.
Review from Ryan
Changelly Review – December 29, 2019
★★★
The site is unresponsive on my device. Maybe because I’m using an older cellphone, but I hope they fix this soon.
Review from Raul
Changelly Review – May 27, 2020
★★
I hope they’d change the site color and fonts. It does not fit my eye well. If the characters were bigger, I would appreciate it more. However, when it comes to dealings and transaction time, everything was smooth, and I encountered no problems. I just wish the design would improve.
Review from Tabitha
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