Changelly Review
The information provided on this page is for educational purposes only and is not intended as investment advice, an endorsement of a cryptocurrency, or a recommendation to trade or use any services. We may receive compensation from our partners if you visit their website. Read our disclaimer for details.
Finding a respected platform for trading and buying crypto using fiat currency can be difficult. However, Changelly has become a big name in the industry thanks to its accessibility and ease of use. But how does the platform compare against other cryptocurrency exchanges? Throughout this Changelly review, we'll be taking an in-depth look at the platform, discussing its features, fees, ease of use, security, and customer support.
Our Take
Bottom line:
Changelly is one of the leading platforms for buying cryptocurrency with fiat, and also exchanging between cryptos for another. It was initially aimed mainly at beginners, its Pro platform has expanded its offerings, making it far more attractive to experienced traders. The platform has competitive trading fees, an easy-to-use interface, and over 500 crypto assets.
In short, Changelly is worth considering for first-time investors, novice traders, and experienced crypto enthusiasts but it is not available in the US. The swap fees are also slightly higher than other crypto swap platforms.
Promotion:Changelly Pros:
- Competitive fees on Changelly Pro
- KYC is not a strict requirement
- Vast range of supported assets
Changelly Cons:
- Not available in the US
- Higher fees for crypto swaps
Pros Explained
- Competitive fees on Changelly Pro. Changelly offers trading fees on par with Binance and ByBit, making it an extremely cost-effective platform for frequent traders.
- KYC is not a strict requirement. Not everyone wants to provide identifiable information to a crypto exchange. As identity verification is not a strict requirement when using Changelly, it could be a good option for those wanting a degree of anonymity.
- A vast range of supported coins. Users can purchase over 500 crypto assets on Changelly, making it one of the more diverse exchanges available to investors.
Cons Explained
- Not available in the US. Unfortunately, Changelly is not available to residents of the United States, significantly hindering its accessibility.
- High fees for crypto swaps. Although the crypto swap feature offered by Changelly is very to use, its 0.25% fee per transaction makes it far most costly than most options such as SwapSpace and Exolix.
Changelly Compared and Alternatives
| Exchange | Crypto Assets | Trading Fees | Rating | Promotion | Website | Review |
|---|---|---|---|---|---|---|
 Binance | 385 | 0.1% (spot) and 0.02% / 0.04% (Futures) | Rating | Up to $100 welcome bonus | Visit Binance | Binance Review |
 Crypto.com | 288 | 0.075% | Rating | None available at this time | Visit Crypto.com | Crypto.com Review |
 ChangeNOW | 1026 | Variable (1.2% to 2.95%) | Rating | None available at this time | Visit ChangeNOW | ChangeNOW Review |
Changelly At A Glance
Changelly is one of the world's most popular crypto platforms and is widely known for its instant crypto swap and buy services. The Czech Republic-based company was established in 2015 and has gradually expanded its products and features to grow with the increased demands in the blockchain industry with its team now consisting of over 80 employees across three offices worldwide.
Changelly uses a trading algorithm that integrates into some of the largest other cryptocurrency exchanges today to aggregate the best crypto rates, such as Binance, Poloniex, and Bittrex. When a user selects a trading pair to swap, Changelly will search its liquidity partners to find the best available exchange rates for the selected pair.
| Exchange Name | Changelly |
|---|---|
| Features | Instant Crypto Swaps, Instant Buy Crypto, Trading Contests, Leverage Trading |
| Accepted Fiat Currencies | USD, EUR, GBP, AUD, CAD, +86 Others |
| Deposit Methods | Credit/Debit Card, Bank Transfer, Crypto |
| Supported Cryptocurrencies | 545 |
| Number of Trading Pairs | 576 |
| Trading Fee | 0.25% to 0.1% (Changelly Pro) |
| Customer Support | Help Center, Ticket System, Live Chat |
| Security Measures | Cold Storage, 2FA, Activity Monitor |
| Mobile App | Yes (Android and IOS) |
Changelly Top Features Reviewed
Instant Crypto Swaps
Changelly enables its customers to instantly swap one crypto asset for another for a small fee. The cryptocurrency exchange process is very straightforward, with users only required to select their desired swap amount, input a recipient address, and send the crypto to a wallet provided by Changelly.
Unfortunately, it's common for crypto swap platforms to use a floating rate that changes based on market conditions and could leave the user with fewer funds than expected. However, Changelly has introduced fixed-rate exchanges that offer slightly less crypto than a floating-rate transaction but ensure three will be no discrepancies in the received amount.
For our Changelly review, we tested the exchange process and were impressed by the transparency and ease of use. It's truly a service that anyone could use. Most transactions are complete within 30 minutes, depending on network load, making it an excellent service for those needing to swap fast wallet-to-wallet.
Instant Buy Cryptocurrency
Changelly users can instantly purchase crypto with a bank transfer or debit/credit card through MoonPay, Simplex, Wert, or Banxa. As such, Changelly is an excellent way for new investors to make their first foray into the crypto market.
There is a good selection of payment methods using this approach such as credit and debit cards and bank transfers which will cater to most individuals. More importantly, over 80 fiat currencies are available to buy crypto including the USD, EUR, GBP, AUD, CAD, and many others. Although, the fees to buy crypto with a credit/debit card are high and should be carefully considered.
Leverage Trading
To ensure its users can take advantage of small price movements and use their desired trading strategies, Changelly has started supporting leverage trading on its Pro platform. Customers can access over 30 margin and futures pairs with leverage of up to 1:100. This will appeal to serious crypto traders and as such, Changelly may be worthy of consideration for day traders looking for an alternative exchange to trade on. However, it falls short on features, trading pairs, and derivatives markets when compared to the leading leverage trading platforms such as Binance Futures and ByBit.
Trading Contests
Changelly frequently hosts trading competitions for its users to motivate and reward its customers. Each contest is unique, but most typically require users to trade a particular asset, with the ten highest volume traders receiving a prize. This feature can add a bit of fun to trade on Changelly but there are more significant crypto leaderboards in the market with a larger number of traders competing.
Changelly Account Creation and Verification
Users wishing to create an account with Changelly can do so in minutes by providing an email address/password and setting up Two-Factor Authentication. Although Changelly is technically a no-KYC exchange, users on Changelly Pro must pass verification to access increased withdrawal limits. Thankfully this process is simple, with only a photo ID (passport, driving license), address, and selfie needed.
Supported Cryptocurrencies and Trading Pairs
Changelly enables its users to trade 545 cryptocurrencies across 90 unique blockchains, including Bitcoin, Ethereum, XRP, and Aave. The Changelly exchange constantly adds support for new altcoins, so it could be worth checking out the complete list of supported cryptocurrencies to double-check whether a particular asset has been added.
On Changelly Pro, an additional 20 futures trading pairs denominated in USDT and 31 margin trading pairs denominated in BTC, ETH, and USDT are available, bringing the total number of tradable assets on Changelly to 576. This is a reasonable selection, however, serious traders looking for low-cap coins may be better suited to using an altcoin exchange.
Changelly Fees
Trading fees
Changelly applies a flat 0.25% trading fee to all crypto trades which is well-above market rates. However, on the Changelly Pro platform, this figure is decreased to a standard 0.1% which is fairly competitive against the top-tier exchanges in the industry. Therefore, the standard platform should be avoided, and switching to Changelly Pro for better value for money.
Purchasing cryptocurrency using a credit or debit card will carry additional fees of approximately 5% depending on the service provider 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.
Changelly Fees Compared
While the standard Changelly platform is very expensive for trading or buying crypto, the Changelly Pro exchange is far more competitive and boasts fees comparable to exchanges like Binance or ByBit.
| Exchange Name | Trading Fees |
|---|---|
| Crypto.com | 0.075% |
| ByBit | 0.1% |
| Changelly | 0.1% (Trading) 0.25% (Swaps) |
| eToro | 1% |
Deposit and Withdrawal Fees
Changelly charges a flat fee based on network cost for withdrawals. While some assets, like Ethereum, boast a small fee of less than $5, others, like Bitcoin, are far more costly, with Changelly charging almost $20 for BTC withdrawals.
Changelly Ease of Use
Changelly provides a simple way for investors to purchase or swap cryptocurrencies. As such, the platform boasts a no-frills interface that anyone can use regardless of experience.
On Changelly, crypto swaps and buy/sell capabilities are clearly explained and accessible via the sidebar. The interface couldn't be more straightforward, with users having only to input their order quantity and press a confirmation button.
On the Changelly Pro platform, users can access margin/futures trading and charts created by Changelly and one powered by TradingView. Although Changelly's charts are lackluster and feature no analysis tools, the TradingView integration offers excellent drawing tools, more than 50 technical indicators, and seven different order types. In short, the Changelly website is easy to use and provides functionality suited for beginners as well as experienced traders, making it more accessible than most other exchanges.
Changelly Mobile App
Changelly offers two mobile apps for android and iOS devices; Changelly and Changelly Pro. Unusually, however, the apps are created by different developers and do not feature Changelly in their names. Instead, Changelly Pro is named PRO: Trade and Buy BTC Bitcoin (rated 4.8/5), while the standard platform is called Crypto Exchange: Buy Bitcoin (rated 5/5). Both apps feature a modern and intuitive interface that can be navigated via the bottom menu bar. However, each app offers vastly different features.
The standard Changelly app provides access to a fiat-to-crypto gateway and a crypto-swapping feature. Additionally, users can access basic line charts highlighting the price of every supported crypto asset.
On the other hand, the Changelly Pro mobile app functions like typical order-book-based cryptocurrency exchanges, with users having access to trading pairs and more advanced crypto charting features.
However, while the Pro app lets users choose between line and bar charts, only six basic technical indicators and no drawing tools are available, making performing analysis challenging. Furthermore, we were unable to fullscreen the chart or read it clearly due to it being extremely cramped, hampering the app's usability further.
While both apps mainly function as intended and are easy to operate, users wishing to perform detailed analyses must find alternative crypto charting tools. Furthermore, the apps are both limited in functionality. As such, it would make more sense to combine both into a single app featuring basic and advanced modes.
Changelly Customer Support Team
To ensure that its users can always get an answer to a query, Changelly has built a comprehensive help center containing over 30 articles on topics ranging from troubleshooting issues to getting started on Changelly and popular crypto jargon.
Changelly also utilizes an email-based ticket system for users requiring tailored help. Additionally, users can contact a Changelly customer support agent via live chat. We tested the support response time and instantly received a reply from a team member, highlighting the company's emphasis on reliable customer service. Overall, existing customers have rated Changelly with 4.6/5 stars based on 2,895 reviews on TrustPilot which is a testament to providing quality service and customer support.
Security Measures
Changelly is a safe cryptocurrency exchange that is non-custodial. The platform keeps user funds in hardware storage wallets, preventing them from being hacked or otherwise compromised. Furthermore, Changelly requires user accounts to be secured with Two-Factor Authentication (2FA) to provide additional account safety.
Changelly boasts an active account session monitor and a complete activity log even containing any failed sign in attempts. These preventive measures are working, as Changelly has never been hacked since it launched in 2015.
Frequently Asked Questions
There are many attractive features on Changelly that make it a suitable platform for beginners such as instant crypto swaps and a variety of payment methods to buy crypto. However, the platform lacks wider products to cater to more sophisticated traders.
Changelly is not a regulated digital asset provider within the United States. According to Changelly's Terms of Use, users from the United States and its territories cannot use Changelly or any of its services.
Changelly services users in most countries worldwide, with a few notable exceptions. For example, US residents are prohibited from using the platform, as are any residents of any country where crypto transactions are not permitted.
Final Verdict and Scores
To conclude our Changelly review, the exchange's ease of use and intuitive interface makes it an attractive trading platform for buying and swapping digital currencies. Moreover, swapping or purchasing crypto using a debit card only takes a few minutes, making it an excellent option for fast-paced investors.
However, the advantages of Changelly stop there. It has above-market rates for fiat purchases, which can be as high as 7.5% per transaction and hamper its usefulness. With that said, the 0.1% on the Changelly Pro trading platform is far more reasonable and will appeal to active traders but there aren't enough products and markets to keep serious users on the platform.
| Category | HedgewithCrypto Rating |
|---|---|
| Features | 3.4 / 5 |
| Supported Fiat and Deposit Methods | 4 / 5 |
| Supported Crypto & Trading Pairs | 4 / 5 |
| Fees | 4 / 5 |
| Ease of Use | 4.4 / 5 |
| Customer support | 4.5 / 5 |
| Security Measures | 4.3 / 5 |
| Mobile App | 2.6 / 5 |
You might also be interested in
StealthEX Review
9 Best Zero Fee Crypto Trading Exchanges
VirgoCX Review
Bitget Review
