Changelly is a popular digital asset swapping platform that is used to instantly convert crypto to crypto. The exchange offers useful products and services to help onboard individuals that want to buy crypto directly or exchange to another digital currency. The platform is geared for beginners and aims to provide the best rates for crypto conversions. This review will examine how the platform works and assess its features, deposit methods, user-interface and trading fees so you can make an informed decision.
- Beginner-friendly and easy to use
- Supported crypto exchange in USA
- Exchange crypto-to-crypto instantly
- Buy crypto using a debit or credit card
- Flat 0.25% trading fee for all transactions
- Responsive customer service team using the live chat feature
One of the quickest and easiest exchanges to use to convert Bitcoin into altcoins is the non-custodial and secure trading platform Changelly. The platform provides a fast and secure way to exchange and purchase more than 150 cryptocurrencies with a modern and sleek user-interface.
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What Is Changelly?
Changelly is one of the most popular crypto swap platforms in the world that is widely known for their instant crypto-to-crypto service. The company was established in 2015 and has gradually expanded its products and features to grow with the increased demands in the blockchain industry. The Changelly team consist of over 80 employees across 3 offices globally to serve hundreds of thousands of customers.
The crypto swap platform has gained the trust of users over several years by providing a stable, transparent, fast and user-friendly interface to swap crypto assets quickly to another and also buy crypto with a debit or credit card.
Is Changelly Allowed In The United States?
|Fiat Currency||USD, EUR, GBP, AUD, CAD & 54 others|
|Payment Type||Credit card, debit card, bank transfer & Apple Pay|
|Deposit Fee||Credit/debit card fee is 5% + 2.5%|
Pros & Cons
Changelly is a popular crypto service that enables investors to buy crypto easily using a beginner-friendly platform. It supports over 170 digital assets which can be purchased using a variety of payment methods and fiat currencies. Its limitations include relatively high fees of 0.25% per transaction and lack of support for US residents.
- Easy to use platform for first time investors and beginners
- Wide list of supported assets to buy or swap
- Does not require KYC to swap crypto to crypto
- Individuals can remain anonymous for swaps
- Non-custodial platform offers high security
- Not a regulated crypto exchange in the USA
- 0.25% fee to buy crypto is quite expensive
- Platform is not suitable for serious crypto traders
Is Changelly Safe?
Changelly is a safe cryptocurrency exchange that is non-custodial. Users’ funds are NOT stored by the online platform which could otherwise be hacked or compromised. User accounts can be secured with 2 Factor Authentication to provide additional account security and safety.
Security, ease of use, accessibility, regulatory compliance and a mobile trading app are some of the best features with Changelly. Here are top alternate exchanges like Changelly that offer a similar range of features and services.
|Exchange||Crypto Assets||Trading Fees||Rating||Promotion||Website||Review|
|600+||0% to 0.1%|
|Up to $100 welcome bonus||Visit Binance||Binance Review|
|$5 BTC bonus (USA only)||Visit Coinbase||Coinbase Review|
|None available at this time||Visit Changelly||Changelly Review|
|None available at this time||Visit ChangeNOW||ChangeNOW Review|
How Does Changelly Work?
Changelly uses a trading algorithm that integrates into some of the largest cryptocurrency exchanges today to aggregate the best crypto rates, such as Binance, Poloniex and Bittrex. When a user selects a trading pair to exchange, the platform will search its liquidity partners to find the best available exchange rates for the selected pair.
The conversion rate is displayed for the user to review and is locked in until the transaction is confirmed on the blockchain. The nature of the platform allows Changelly users to find the best price across multiple exchanges without having to create an account with each provider.
Once the transaction is completed, the assets are transferred directly to the provided wallet address. Changelly provides the infrastructure to support the exchange of coins, however, does not store or keep the assets on its exchange. This provides a safe and secure environment as there is no risk of losing the private keys to Bitcoin or another asset trading on the platform.
Who Changelly Partners With?
Changelly has partnered with several industry leading wallets and exchanges to provide a world-class crypto swap platform and trading exchange. A few examples of Changelly's partners include Exodus, MyEtherWallet, Binance, Ledger, OKEX, TradeSanta, NEXO, SwapZone, CoolWallet and SwapSpace.
Changelly is global online cryptocurrency services that are available to users in almost all countries worldwide including the United States, UK, Europe and Canada. The platform is often reviewed as one of the best crypto exchanges in Australia with the option to buy crypto with a debit or credit card.
Is Changelly Legit?
Changelly is a legit crypto exchange service that has been successfully operating since 2015. The online crypto platform has gained the trust of users from all over the world and continues to grow. The Changelly platform and its mobile app attract over a million visitors monthly according to its website.
To create an account with Changelly, follow these steps:
- Visit Changelly.com
- Click on the 'Sign Up' button at the top right-hand corner
- Enter in your email and set a strong password
- Verify your email address
- Login using your credentials
ID Verification Requirements
If you are using Changelly for the first time to purchase cryptocurrency, then you will need to prove your identity in accordance with Know-Your-Customer (KYC) protocols. The verification process takes approximately 30 minutes to complete.
To verify your account, the following documents can be uploaded:
- International passport
- National ID card
- Driving license
The process to exchange cryptocurrency on Changelly is straightforward and simple. On the homepage, there is a widget on the right to get started. Simply select the cryptocurrency that you want to sell using the drop-down menu. Once you have entered in the sell amount, choose the cryptocurrency you want to purchase.
The amount of cryptocurrency you will receive will automatically calculate based on whether you have chosen a floating or fixed rate. Once you have checked the details, click on 'Exchange Now' to enter your cryptocurrency hardware wallet address as shown below.
Next, you will need to enter in your wallet address where you will receive the cryptocurrency. Make sure that your hardware wallet can support the cryptocurrency before completing the transaction.
For example, if you want to purchase Ethereum, you will need to enter in your Ethereum address, not Bitcoin or another crypto. Otherwise, you could lose all of your coins. Once you are satisfied with the order, accept the T&Cs and click on 'Next Step'.
Now all you need to do is complete the payment by sending the cryptocurrency you want to exchange or swap to the address. Once the order is completed, the cryptocurrency will be sent to your hardware wallet within approximately 5-30 minutes depending on the blockchain load.
Buy Crypto Using Credit & Debit Card
- Choose your currency from the widget (e.g. USD, GBP or EUR)
- Enter the amount of fiat you want to spend and select the crypto you want to buy
- Review the rate displayed and the amount of crypto you will receive
- Type in your cryptocurrency wallet address
- Fill in your personal, billing, residential address and bank card details
- Enter in the verification number sent to your mobile phone
- Submit identification information to prove your identity
- Complete the transaction and receive the crypto in your wallet
The whole process takes about 7 mins from start to finish. You should check your Bitcoin wallet to ensure the transaction has successfully completed. Watch the video below for a step-by-step video tutorial on how to buy crypto with a debit card using Changelly.
What Are The Fees?
Exchange fees need to be evaluated before deciding to use a cryptocurrency exchange. This is important when swapping a large amount of crypto to another crypto. Changelly applies a flat 0.25% trading fee to all crypto trades. This is quite expensive when compared to global exchanges such as Binance which has a fee of 0.1% per trade.
There are zero fees to deposit or withdrawal crypto assets. There is a minimum network fee that is determined by the blockchain. This fee varies depending on the network load and for each crypto coin.
If you purchase cryptocurrency using a debit or credit card will carry additional fees of approximately 5% depending on the service provider that you use (e.g. Simplex, MoonPay and Indacoin) plus a 2.5% Changelly fee. The same fee applies if you sell crypto back into fiat currency or transfer to a bank account.
Frequently Asked Questions
Changelly exchange supports a wide range of cryptocurrencies that exceeds 170 coins, including the major digital currencies such as Bitcoin, Ethereum, Litecoin, Ripple, EOS, Stellar, Monero and many more. Changelly is continually adding support for new altcoins that you may not be aware of that are gaining popularity in the blockchain space. To find out the full list of supported cryptocurrencies, visit the 'Supported Currencies' page.
Changelly offers an affiliate program that rewards its users with 50% of the commission fees for each transaction. To be eligible for the referral program, you need to sign up for a Changelly acccount and share your referral link. All commissions that are earned through the Changelly affiliate program are paid in Bitcoin (BTC).
Changelly offers a mobile app that can be downloaded on Android and iOS devices. The app provides similar features to the desktop version for its customers to buy Bitcoin instantly or swap cryptocurrencies on the exchange. The Changelly mobile app is highly intuitive, easy to use and has been designed for beginners.
To conclude our Changelly review, the ease of use and simple to use interface makes its an attractive trading platform to convert and swap digital currencies. The whole process to trade crypto or purchase crypto using a debit card only takes a few minutes.Visit Changelly
Since Changelly does not store any crypto assets, it can be considered to be a safe crypto exchange to use. However, the trading fees to purchase crypto using debit cards can be as high as 7.5% of the total amount. Compared to other fiat-to-crypto exchanges that allow you to buy crypto with a credit card, this is quite high. Overall, Changelly is a professional and simple to use platform that is designed for beginners that don't mind paying higher fees for using a simple and fast exchange.
How We Rated It
HedgewithCrypto strives to provide an independent, factual and unbiased reviews of cryptocurrency exchanges and trading platforms to help readers make an informed decision about picking the right crypto exchange. The review process includes examining the website and external sources, creating and funding an account, demonstrating and experiencing the features of the platform and calculating an overall weight-average rating.
A rating between poor (1 star) and best (5 stars) with 0.1 increments is given. For more information on the criteria and categories used to evaluated each exchange, read our full review and rating methodology.