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.
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.
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.
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.
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.