Changelly Exchange Review

Changelly is an instant cryptocurrency exchange based in Prague, Czech Republic. Unlike most exchanges, it primarily acts as the intermediary between cryptocurrency trading platforms and the trader.

Even though it is not regulated with any legislative board, it has gained the trust of its customers by partnering with other reputable cryptocurrency exchanges, such as Binance, Bittrex, Coinpayments, and more. The sole objective of Changelly is to provide a transparent, simple, quick and user-friendly interface to exchange or buy cryptocurrencies.

This Changelly review will analyse several aspects to provide you with an all-rounded detailed overview of the exchange and its services. Although Cryptimi does its best to provide you with accurate and updated information, we strongly recommend that you to visit their site, for any updates which might occur afterwards.

Is Changelly Exchange Safe?

Yes! Generally, Changelly is considered a safe cryptocurrency exchange platform. It protects the account of its users using 2FA (Two Factor Authentication) so that it is almost impossible for fraudsters to steal information or to access your account. Data captured on their website is transmitted over the secure, HTTPS network. In addition, it doesn’t store sensitive information like credit card number, expiry date or CVV on its servers.

Since Changelly doesn’t provide an in-built wallet like many other exchanges, you must ensure that you are providing a valid wallet address in order to receive coins without difficulties. Providing an incorrect wallet address, or one which doesn’t support the token you are transferring might result in loss of funds.

Changelly Exchange

Changelly is a digital cryptocurrency exchange that allows users to convert one cryptocurrency to another. It doesn’t set the price for the digital currencies itself. Instead, it uses a robot that fetches the rates from other large trading platforms, including Bittrex, Binance, Poloniex, and displays the best trading rate on the platform. This whole process is completed within a few milliseconds.

How does Changelly compare to other exchanges?

When buying or trading on Changelly you can choose between the Floating or Fixed exchange rates. The Floating rate provides the best possible trading fee since the exchange just adds their 0.25% fee on the price of the currency at the moment of purchase. However, you won’t know the precise cost of your purchase until it has been completed.

The Fixed rate provides you with the definite value of your purchase upon initiation, but at a slightly higher cost. This rate is especially ideal for serial traders looking to move a substantial value without the risk of unpredictable price fluctuations.

Changelly Wallet

This feature is not available yet. You will need to set up a wallet on another platform before purchasing cryptocurrency from Changelly. The exchange does have integrations with a number of top wallet providers, including Guarda, Ledger, and Exodus.

Check out our other recommended wallets here:

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Changelly Account

With Changelly, it’s possible to buy Bitcoin (BTC) or Altcoins immediately after creating your account.

How to Signup on Changelly

To create an account on Changelly, you must go through the following steps:

Navigate to their site and click the green ‘Sign Up’ button located on the top right-hand of the page. Enter your email address, and click on the ‘Continue to exchange’ button. (Alternatively, you can create your account using your existing profile on Google+, Facebook or Twitter). Within a few minutes, you should receive a confirmation email from the Changelly team. Click the confirmation link on that email to activate your account. Afterwards, you will receive another email with your login credentials.

How to Login on Changelly

To log in to your Changelly account, follow the steps below:

Navigate to their site and click the ‘Sign In’ button located on the top right of the home page. Enter your email address and password and click on the ‘Continue to your exchange’ button. Don’t forget to replace the default password (sent to you by Changelly upon registration) with your own, strong password to protect your account. To set up a strong password we recommend you visit this site.

Verification Requirements

Apart from the email address, Changelly doesn’t require any other documents from users to buy or exchange cryptocurrencies. Users can buy or exchange digital currencies immediately after creating the account. This places Changelly as one of the most reputable exchanges which let users trade cryptocurrencies almost completely anonymously.

Purchases made via credit or debit cards require your mobile number for verification purposes. The exchange also reserves the right to request verification documents to any users who process suspicious or a high volume of transactions.

How to Buy Digital Currency on Changelly

With Changelly, users can buy 140+ cryptocurrencies including BTC, ETH, ETC, LTC, BCH, XRP, and many more using any fiat currency. Technically, the exchange will convert fiat currency to EUR or USD for processing the transaction.

Changelly also accepts cryptocurrencies as a payment option. In fact, the platform offers an extensive list of currency pairs, which means that you can easily convert Cardano for Maker without needing to go through multiple costly conversions.

It doesn’t charge any hidden fees but deducts a marginal fee of 0.5% for every crypto to crypto transaction.

Before you buy any cryptocurrency on the exchange you must ensure that you have a wallet which supports the particular token. Cold storage wallets such as the Ledger Nano S, and Trezor, or hot wallets, such as Coinbase Wallet, support a variety of tokens, allowing you to store all your funds in just one wallet. Once your transaction is successful you should receive your funds within 5-30 minutes, although longer delays are possible during busy periods.

How to Buy Bitcoin (BTC) on Changelly

This example explains how to buy Bitcoin (BTC) on Changelly with a credit card

Log in to your Changelly account. Select the fiat currency (USD/EUR/GBP) on the top and BTC below it. Enter the number of Bitcoin (BTC) you would like to buy or the amount of fiat currency you would like to spend. Here, you will also see the purchase limits related to your first few transactions. Click the ‘Exchange!’ button. Enter the receiving wallet address and click the ‘Continue’ button. Next, enter your personal details name, email, phone, billing address and click the continue button. Provide the information related to your payment card (card number, expiry date, CVV etc). You must use only cards which supports 3D security. Enter the verification code sent by your bank via SMS or a phone call.

How to Buy Etherum (ETH) on Changelly

This example shows how to buy Ethereum (ETH) using Bitcoin (BTC):

Log in to your Changelly account. Select BTC at the top and ETH at the bottom. Enter the value of BTC or corresponding value of ETH which you wish to trade. Enter the recipient wallet address and click the ‘Next step’ button. Once again, all the details related to your transaction will be displayed on the screen. Click ‘Confirm and make payment’. You will now see the wallet address of Changelly to which you have to send your digital currency. You should enter this address for the ‘Recipient’ column on your wallet to send the coins to Changelly. If you have a mobile app for your wallet, you can scan the QR code to insert the address.

Once your Bitcoin (BTC) is received by Changelly, the equivalent Ethereum (ETH) will be sent to the recipient wallet address mentioned in the transaction. Usually, this process takes only 5-30 minutes and you will receive the coins once the transaction gets completed.

How to Buy Ethereum Classic (ETC) on Changelly

This example shows how to buy Ethereum Classic (ETC) on Changelly using a credit card.

Log into your Changelly account. Follow Steps 2 to 8 of the Buy Bitcoin section above.

How to Buy Litecoin (LTC) on Changelly

This example shows how to buy Litecoin (LTC) using Ethereum (ETH).

Log into your Changelly account. Follow Steps 2 to 6 of the Buy Ethereum section above.

Once your Ethereum (ETH) is received by Changelly, the equivalent Litecoin (LTC) will be sent to the recipient wallet address you indicated in the transaction.

How to Buy Bitcoin Cash (BCH) on Changelly

This example shows how to buy Bitcoin Cash (BCH) using Bitcoin (BTC). Make sure you own a BCH wallet. Note that a Bitcoin wallet address does not support Bitcoin Cash.

Log into your Changelly account. Follow Steps 2 to 6 of the Buy Ethereum section above.

Once your Bitcoins (BTC) are received by the Changelly, the equivalent Bitcoin Cash (BCH) will be sent to the recipient wallet address indicated in the transaction.

How to Cash Out on Changelly

Currently, Changelly only allows you to cash out Bitcoin in exchange for EUR. With a Basic KYC account you can sell a minimum of EUR 250 and a maximum of EUR 10,000, however, if you upgrade to Advanced KYC you will be able to enjoy unlimited amounts. Transfers of EUR funds must be made to a SEPA account, and funds can take up to 3 working days to reach your account. Changelly charges a flat 5% free for crypto-to-fiat transactions.

If you would like to exchange other cryptocurrencies into fiat currency you should either convert them into Bitcoin through Changelly or transfer them to another exchange which supports a wider conversion range, such as Coinbase.

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Supported Cryptocurrencies

Changelly allows users to buy Bitcoin (BTC) along with 140+ Altcoins and cryptocurrency tokens. The top cryptocurrencies listed on the exchange are listed hereunder:

Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ethereum Classic (ETC), Bitcoin Cash (BCH), Dash (DASH), Ripple (XRP), Tether USD (USDT), Bytecoin (BCN), Monero (XMR), Cardano, Binance, DigitalNote (XDN), QuazarCoin (QCN), Dashcoin (DSH), Fantomcoin (FCN), Dogecoin (DOGE), NuBits (NBT), Next (NXT), Aeon (AEON), Radium (RADS), MaidSafeCoin (MAID), Factom (FCT), Synereo (AMP), Lisk (LSK), Expanse (EXP), NEM (XEM), Steem (STEEM), Ardor (ARDR), Stratis (STRAT), Augur (REP), Gulden (NLG), Zcash (ZEC), Zclassic (ZCL), Golem (GNT), Waves (WAVES), Qtum (QTUM), EOS token (EOS), 0x Protocol (ZRX), Bitcoin Diamond, Skincoin (SKIN), Icon (ICON), ProCurrency (PROC), Telcoin, Dent (DENT), Bankex (BKX), TrueUSD (TUSD), Smartcash, Hshare (HSR), Nexo (NEXO).

To get the full list of all the cryptocurrencies supported by Changelly, kindly visit their homepage and scroll to the bottom:

Supported Countries

Changelly accepts users from almost all countries worldwide, including the UK, EU, parts of the US, Australia, and Canada.

Supported

You can open an account with Changelly from most countries in the world, with the exception of countries listed in the section below.

Excluded

The current countries that are excluded from Changelly are those sanctioned by the United Nations. Users from other countries or US States might experience a restricted service.