Changelly Review: Is It Worth It?
In this Changelly review, we will be examining whether or not the Changelly is safe, secure, private, and overall worth your time!
Background And History
Since 2015, Changelly's mission is to enable an effortless exchange process for everyone.
Changelly provides an intuitive platform for fast crypto exchanges. Driven by the goal to bring the day of mass adoption closer, Changelly is continuously developing to offer its users a flawless experience and new services.
Changelly is an instant cryptocurrency exchange that allows you to exchange crypto fast and buy it with a bank card. The service provides the best crypto-to-crypto rates and supports over 140 cryptocurrencies available for exchange.
Changelly’s trading algorithm is integrated into the largest cryptocurrency exchange platforms, including Binance, Poloniex, Bittrex, etc. In the span of milliseconds, Changelly makes bids and asks on the platforms, then selects and suggests the best available rate and displays the estimated rate on its site. The rates remain approximate until the transaction is actually made on the blockchain, which is why the exchange rate at the time of a transaction may differ slightly from the estimated rate that you see when you begin a transaction. To learn more about the process, see the article below
Also, Changelly provides API for business partners. API integration allows users to quickly exchange cryptocurrency. API is a fully customizable tool that can be installed on your platform. To access the Changelly API, send an email to firstname.lastname@example.org and receive your API keys.
Changelly keeps its fee policy transparent. The current fee structure is two-layered and consists of exchange and network fees.
The exchange fee is the amount charged by Changelly for executing transactions initiated by the users. The exchange fee structure depends on the transaction type: the Floating exchange rate or the Fixed one. The Floating exchange rate transactions incur a 0.25% fee from the output amount (it differs for transactions executed through its API partners). As with regard to the Fixed exchange rate transactions, Changelly finds the best rate available on the market and fixes it for the conversion in question; the respective rate is displayed to the user, thus guaranteeing the protection of users’ funds from market fluctuations during the exchange.
The network fee is paid to cryptocurrency miners for processing transactions in the network, and it serves to ensure withdrawals of the funds from exchanges. Changelly collects and transfers these payments to respective exchanges, which themselves set the amount of the fee at any particular time. The moment a transaction is created, this fee is displayed to the user, with the amount being based on Changelly's estimates. With that, you acknowledge and agree that the final amount of the network fee charged can sometimes differ from the estimate. This occurs entirely due to the volatile nature of network fees prevalent on exchanges and does not depend on Changelly in any respect.
Privacy & Security
Changelly is one of the most prominent instant cryptocurrency exchanges that has gained the trust of more than 2M users from all over the world. The service provides safe and fast transactions without revealing users' identities. Changelly provides the best possible rates by comparing a wide range of reliable trading platforms and work with a list of 140+ cryptocurrencies that is constantly increasing.
Further reasons to trust Changelly include:
- No deposit storage
- Instant exchange
- Each account is protected with 2-factor authentication and an HTTPS protocol
- More than 2 million users
For an updated list of all the available assets on Changelly, please follow the link below.
Changelly Pros & Cons
It does not store crypto on its own wallets
Fast crypto to crypto transactions
- Helpful and responsive customer support
- Low commission fees
- No registration/documents are required for crypto to crypto transactions
Lots of options with exclusive rates to choose from when exchanging or buying crypto
- Available all over the world
- High fiat to crypto fees
- Limited payment methods
- High minimum amount required per transaction
Changelly Review: Verdict
After our Changelly review, we've come to believe this is a great option if you're looking for a quick, anonymous, cheap, and secure way of trading cryptocurrencies.
Changelly is very easy, and quick to use, the UI is very user-friendly, and customer support is very good.
Changelly doesn't hold your crypto in their wallets, instead, it simply sends it to large exchanges before depositing them back to your wallet.
If you want to buy crypto using fiat, fees are quite high, payment methods are limited, and the minimum amount required per transaction is a bit high.
Changelly is also working hard to become both CEXs and DEXs to provide clients with an even more flexible product.
If you'd like to sign up for a free Changelly account, simply follow the link below and start trading today!
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