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Changelly Review 2020

Changelly Review 2020

Changelly is a quick and reliable service that allows you to trade more than 150 different cryptocurrencies with minimal fuss. The team behind crypto mining pool, MinerGate, launched Changelly in Prague, Czech Republic, back in 2015. Changelly is no longer affiliated with MinerGate, and it now has offices in the UK, Hong Kong, Malta and Brazil. It has attracted more than 2 million customers by offering competitive rates, high limits, quick transactions and 24/7 live chat support. We will delve deeper into the fees, limits, security, customer service and features on offer during this Changelly review.

Changelly: Pros & Cons
  • More than 150 cryptocurrencies listed
  • Transparent 0.25% fee
  • No personal information required
  • High exchange limits
  • High exchange rates for fiat trades

Usability, Look & Feel

When reading a Changelly review, a primary concern will be, is Changelly safe? The site has been operational since 2015, and there have been no security breaches in this time. It uses a two-factor authentication system, users can enjoy considerable anonymity and it uses high-quality encryption software to protect transactions, so Changelly is safe.

There have been a few complaints online, and one Twitter page mentions Changelly scams, but it only has four followers. This is a reputable site and the vast majority of its 2 million consumers report being very happy with the service. There is no evidence of any scams, and it holds a strong reputation in the industry.

You will notice that the site looks slick, uncluttered and stylish. It is easy to navigate, pages load rapidly and it makes the process of exchanging crypto effortless. We tested the site in great detail for this Changelly review, and we can confirm that it does not buckle under the high trading volume. There are plenty of intuitive widgets to improve the user experience. Its web presence is also very strong. The site is teeming with helpful blog posts, and Changelly is very active on social media.

Payments

Changelly is a non-custodial exchange, meaning it does not allow for traditional deposits and withdrawals. It does not take control of your assets and it allows you to trade directly from a wallet you control. This makes the process rapid. You can quickly swap one altcoin for another with considerable anonymity and security. The average processing time is 13 minutes.

Our Changelly exchange review therefore does not need to shine a light on different Changelly deposit and Changelly withdrawal fees. Most people use the site to exchange more than 150 different cryptocurrencies, but you can also use fiat currencies to buy crypto, including GBP, USD and EUR. You can make these deposits using wire transfer, credit card or debit card. PayPal is not currently accepted. You should expect higher than average fees for card purchases and fiat to crypto transactions, but the Changelly price on crypto-to-crypto fees is very attractive.

As it is a non-custodial exchange, there is no Changelly minimum deposit or Changelly withdrawal limit per se. However, if you are interested in buying Bitcoin with a credit card, you will have a first transaction limit of $50 to $10,000, a daily limit of up to $20,000 and a monthly limit of up to $50,000, depending on your jurisdiction.

Customer Service

Changelly is renowned for offering impeccable service 24 hours a day, 365 days a year. You can access it via live chat. We found the customer support representatives to be very helpful, friendly, polite, efficient and knowledgeable when we tested the service as part of this detailed Changelly review. You can also email [email protected].

Many users report that their queries have been solved quickly or in less than 24 hours. Reliable customer service has proved elusive for many companies in the crypto sector, but Changelly has a high satisfaction score on TrustPilot and a reasonably strong reputation in the industry for providing good customer support. It also has a very detailed FAQ section, which should answer most queries that you may have about the site and the services it provides.

License & Security

Our Changelly exchange review now focuses on the level of security you can expect. Non-custodial exchanges like Changelly are inherently secure compared to traditional services, as they allow users to manage their private keys, rather than forcing them to rely upon parts of a centralised exchange’s database. You will find that using Changelly allows you to eliminate the need to trust a third-party with your precious assets, which should provide you with encouragement.

Changelly has a robust terms and conditions section. It is headquartered in Hong Kong, and any dispute will be resolved by arbitration administered by the Hong Kong International Arbitration Centre. That should give you confidence that Changelly is a legit site. It has a large customer base, including high-profile crypto community members such as Charlie Shrem. They know it uses two-factor authentication, and it exchanges money instantly, so there is know need to store your deposit or worry about your money being kept safe when using Changelly.

Changelly Crypto

Trade Offer

We begin our Changelly exchange review by explaining the huge range of cryptocurrencies covered by this service. Changelly allows you to exchange more than 150 different cryptocurrencies. It is a highly flexible service, allowing you to create your own trading pairs from any of the coins covered. For example, you can exchange Bitcoin for Litecoin, or Neblio for Mithril. The process is very smooth, and it will be completed within 5 to 30 minutes, so it is easy to see why Changelly reviews are generally positive.

Traditional exchanges are a lot more rigid when it comes to the trading pairs you can choose. You might have to make a number of different trades in order to convert a cryptocurrency into the one that you desire. Changelly trading is a lot easier, as you can simply select any trading pair and the software will take care of the transaction for you. All the major coins are covered, along with a wealth of lesser-known, niche cryptocurrencies, which we must highlight in this Changelly review.

Trading Costs

Our Changelly exchange review now moves onto the fees you can expect to incur when using the service. Changelly trading fees are fixed at 0.25%. The service utilises a trading algorithm, which is integrated into a number of large and reputable trading platforms, including Binance, Bittrex and Poloniex. This algorithm takes just milliseconds to make bids and sift through the various exchanges to pick up the best available rates on the trading pair you have selected.

The fees include the amount that Changelly pays to those trading platforms for the exchange. That fee is competitive with even leading operators like Bitstamp and Kraken, giving us yet another reason to write a positive Changelly review. However, you will be charged higher fees when it comes to trading from a fiat currency. These rates vary depending on the method, and you can be hit by high exchange rates. That is because it works with partners MoonPay, Simplex and Indacoin when you are buying crypto with a bank card.

Trading Conditions

Changelly is available in most countries around the world. The exchange cannot be used if you are in countries that feature on the United Nations Security Council Sanctions List: Cuba, Iran, North Korea, Crimea, Sudan, Syria, Bangladesh and Bolivia. It is also not available in the USA, including territories such as Puerto Rico, American Samoa and Guam, while Japan is not covered either. Changelly does not operate in any restricted location in which crypto asset transactions are explicitly prohibited.

Our Changelly review would not be complete without mentioning limits. When exchanging one cryptocurrency for another, there is no limit on the size of the transaction you can complete. However, there are limits on fiat conversions. Your first transaction is limited to $50 if you are using Australian, Canadian or US dollars. You can then go for $500 within seven days after the first buy, and after one month there are no limits. The initial limit is $200 for anyone in Russia, Ukraine, Belarus, Kazakhstan, Armenia and Georgia, rising to $2,000 after the first week and $10,000 after the first month. Within the EU, the limit begins at $100, then increases to $500 after seven days and becomes unlimited within a month.

Product Conclusion

There is no need to provide personal details or go through the usual KYC process if you are simply using Changelly for cryptocurrency conversions. All you need is a valid wallet address. This allows you to protect your identity and enjoy anonymity while swapping one digital coin for another.

You will find a prominent widget on the homepage that allows you to instantly make trades. The default setting has Bitcoin to Ethereum, but you can choose any pair, enter the amount you wish to send, and it will inform you of the amount you will receive in exchange. You also have the option to switch from a floating rate to a fixed rate here.

Click the green “Exchange now” button and you will trigger a new page. You will be invited to enter your wallet address. Then you simply agree to the terms of use and privacy policy, verify the transaction fees, confirm the transaction, and you can make the trade. Send the exact amount to the address provided and you will receive the crypto in your wallet within minutes.

You can sign up for a Changelly account if you wish to keep a transaction history. Click on the green “Sign up” button at the top right of the homepage and enter your email address. Changelly will then send a confirmation email to your inbox. Follow the link provided back to Changelly, and you can then provide your personal details, click to confirm you are not a robot and register for an account at Changelly. You can also enter a Changelly referral code if you have received one.

How to trade is a crucial concern for anyone interested in exchanging crypto, and Changelly makes the whole process very smooth and simple. However, if you wish to purchase crypto with fiat currencies at Changelly, you will have to go through a more convoluted process. This can involve proof of identity and address.

Our Changelly review has already identified that there is no traditional deposit and withdrawal process, so the whole process is really simple and efficient. Changelly is safe and secure, and you will find plenty of information and advice at each stage to help you trade. If you ever find you are stuck, click on the Support tab at the top of the page. You can access the FAQ section, the blog and the helpdesk, which includes video guides, troubleshooting, tips on the various Changelly markets and more advice on Changelly futures.

Overall Conclusion

Changelly has a strong reputation among customers. They praise the site’s ease of use, the variety of altcoins on offer and the customer support provided. Our Changelly review has identified a number of key reasons behind the site’s popularity, including the speed, efficiency and anonymity it offers. Our Changelly exchange review has not yet touched on the mobile app, which is excellent. It perfectly replicates the slick, polished interface found on the desktop site, which we mentioned earlier in this Changelly review, and allows you to rapidly trade crypto with just a few taps of the finger. You will also find the Changelly payment widget at various wallets, including Ledger and Trezor, which helps bolster Changelly’s overall reputation.

Changelly provides crypto traders with a fast, reliable and frictionless service. Our Changelly review notes that it has a strong history of secure transactions, with no breaches since it started operating in 2015. Non-custodial exchanges are generally safe and efficient, but Changelly stands out by offering a slick user experience, stylish design and above average customer service. It has a very strong web presence, a wealth of useful tutorials and a highly rated app.

Anyone checking out a Changelly review will be interested in the amount of altcoins it offers, its speed, trustworthiness and reliability, and the fees it charges, and Changelly performs well across the board. From our Changelly review, it is positive that you can buy crypto with fiat currencies at this site, but you will have to put up with high fees if you decide to use that service. Changelly really excels when it comes to switching altcoins, and it is competitive with all the best non-custodial exchanges vying for your business.

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