Changelly Review

 

CHANGELLY REVIEW AT A GLANCE

■ TYPE: BITCOIN/ALTCOINS EXCHANGE USING CREDIT CARD

■ WALLET: NO

■ HEADQUARTERS: PRAGUE, CZECH REPUBLIC (EU)

■ ONLINE SINCE: 2015

■ CUSTOMER SERVICE: EMAIL

■ LANGUAGES: ENGLISH | 12 LANGUAGES IN TOTAL

 

INTRODUCTION TO THE CHANGELLY EXCHANGE

Launched in 2013 and online since 2015, Changelly is a cryptocurrency exchange that allows users to instantly swap over 90 altcoins or purchase them using a debit or credit card. According to Changelly, the platform has over one million registered users, generating a monthly turnover of 60,000 BTC. Changelly’s service is also integrated into major cryptocurrency trading platforms such as Poloniex and Bittrex.

■ SUPPORTED COUNTRIES: ALL COUNTRIES (INCLUDING USA)

■ FIAT CURRENCIES: EUR | USD

Note, that only during the first week of trading, US, Australian, and Canadian users can only trade $50 in their first transaction.

► Visit the Changelly Bitcoin Exchange

 

CHANGELLY FUND METHODS AND FEES

Changelly Supports the Following Methods:

□ BITCOIN/ALTCOINS

□ CREDIT/DEBIT CARDS*

*Changelly charges high fees when converting from FIAT currencies

 

How to Buy Cryptocurrencies at Changelly Using Credit Cards

This is the process step-by-step:

1. On the left of the home page, select USD or EUR

2. On the right select the crypto you wish to purchase by checking carefully the rate and the amount you are going to receive

3. Select a wallet address (Changelly doesn't offer a wallet)

4. Click ‘Pay with Mastercard/Visa’ (Card processing is made by Indacoin Limited, headquartered in London)

5. Enter your bank card data and a valid phone number associated with your card

6. You should promptly receive a phone call and you’ll hear a digital code to enter

7. Now go to your online bank app and find the bank statement with a three-digit code to specify

8. If you can’t find the code for some reason, there is an alternative option to record your voice saying ‘Indacoin verification’ and send a picture of yourself and your passport

9. Once you’ve entered the code or sent your data, wait while your transaction is processed. Within 5-30 minutes, your transaction will be complete and you will receive your cryptocurrency and transaction receipt

 

CHANGELLY TRADING FEES

□ 0.5% Trading Fee

□ Changelly doesn’t impose amount restrictions

 

CHANGELLY CRYPTO ASSET INDEX

□ BITCOIN (BTC)

□ ETHEREUM (ETH)

□ RIPPLE (XPR)

□ LITECOIN (LTC)

□ over 90 cryptocurrencies in total

 

 CHANGELLY PLATFORM AND TECHNOLOGY

Changelly’s platform is integrated with cryptocurrency trading platforms such as Poloniex and Bittrex. Changelly’s algorithm places bids and asks on these exchanges, selects the best available rates, and displays the estimated rate on Changelly’s website. These rates remain approximate until the transaction is confirmed on the blockchain. Changelly also partners with notable cryptocurrency companies including Jaxx, CoinMarketCap, CoinPayments, and Coinomi.

Features:

-The transactions need 5 minutes to 30 minutes to be processed

-Account history feature

-Security includes no-deposit storage, 2-factor authentication (2FA), and HTTPS

-API and a customizable payment widget for any crypto service

► Visit Changelly Bitcoin Exchange

 

 POSITIVES OF CHANGELLY REVIEW

(√) 0.5% trading fee

(√) Quickly exchange over 90 altcoins

(√) Buy cryptocurrencies using a debit/credit card

(√) All transactions can remain anonymous (only email)

(√) Responsive customer support

(√) Account history feature

 

 NEGATIVES OF CHANGELLY REVIEW

(x) Charging high fees when converting from FIAT currencies

(x) Sometimes, the Changelly's exchange rate is much worse than the market rate

(x) No internal wallets

 

CHANGELLY REVIEW CONCLUSIONS

Changelly is a fast service for exchanging over 90 altcoins, charging a 0.5% trading fee. It uses an automated system that integrates with trading platforms such as Poloniex and Bittrex to place bids and asks on these exchanges. Changelly also allows users to buy cryptocurrency with credit or debit cards, accepting USD and EUR. However, the fees for credit card purchases are quite high. Notably, Changelly enables trading without requiring user verification.

Overall, Changelly is an innovative service offering anonymity, a wide variety of crypto assets, and credit card purchases. The main drawback is the high fees associated with converting from fiat currencies.

 

■ Changelly Review

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