The exchange of cryptocurrencies, whether converting fiat to cryptocurrencies or from one cryptocurrency to another, remains one of the most debated issues in the current community.
One of the most recent cryptocurrency exchanges that seeks to combine three crucial factors in efficiency, accessibility and effectiveness is Changelly.
What is CHANGELLY?
Changelly is a cryptocurrency exchange platform that has recently become more popular.
The platform was created in 2015 and since then has enjoyed growing popularity among crypto enthusiasts with currently more than 2 million users worldwide.
Changelly processes more than 15 thousand transactions per week and invoices 60,000 BTC per month.
The cryptocurrencies exchange has a list of 100 available altcoins and a remarkably long portfolio of trading pairs, they also take transactional efficiency, security and the overall quality of the platform very seriously.
Do you need to register in Changelly?
To operate in Changelly it is not necessary to create an account to access its services. All you have to provide is a wallet address which, of course, is necessary for any conversion to take place.
However, the user who wants to buy cryptocurrencies with his credit card, must perform an account verification to process the conversion successfully.
In general, those who try to use the exchange for cryptocurrency conversions do not have to worry about sending any personal information.
Is Changelly a secure platform?
When we speak of platforms related to cryptocurrencies, security is key to the sustainability and credibility of any project, especially those that are involved in the management of currency transactions.
The large number of Changelly users, which has grown to more than 2 million, is a fact that says a lot about the high levels of trust that it has gained over the years, besides the users positive opinion regarding the platform.
The platform counts with two-factor authentication – 2FA, an essential app for keeping accounts secure.
Security measures in Changelly
Changelly presents a simple registration process that does not require any personal information, which guarantees the privacy and confidentiality of the user.
This plays a crucial role in improving the user’s overall security in terms of identity and digital assets in their possession.
From experience and general characteristics, the platform has all the attributes of a reliable platform.
After looking at security issues and the platform registration, the next point we want to address in this review of Changelly are the key features associated with the platform.
Due to the volatile nature of cryptocurrencies, Changelly made the decision to avoid fixed fees on transactions associated with the platform.
The exchange has a service to buy cryptocurrencies using fiduciary currency, whose price is usually higher than the market price. This is one of the reasons why most of the users go for a cryptocurrency-cryptocurrency exchange.
For crypto-crypto conversions, the exchange charges a commission of 0.5%. When it comes to card purchases (credit or debit) the exchange charges two types of commissions at once: the fee of the general commission that is placed at 5 percent and the simple processing fee that also deducts 5% of the transactions.
List of accepted cryptocurrencies in Changelly
The website has a dedicated page that provides descriptions of all the cryptocurrencies it admits, totaling more than 100.
There is an indisputable mix of both established and future cryptocurrencies which include:
Bitcoin (BTC), Monero (XMR), Litecoin (LTC), Ripple (XRP), MaidsafeCoin (MAID), Basic Attention Token (BAT), Nubits (NBT), Ethereum (ETH), Guppy (GUP), Syscoin (SYS), Wings (DAO WINGS), Expanse (EXP), Darcrus (DAR), PIVX (PIVX), Edgeless (EDG), Chronobank (TIME), Dogecoin (DOGE), Melon (MLN), Tether (USDT), Swarm City (SWT), Zcash (ZEC), GameCredits (GAME), Stratis (STRAT), Gulden (NLG), Steem (STEEM), Bytecoin (BCN) Synereo (AMP), Lisk (LSK), Radium (RADS), Factom (FCT), Dash (DASH), Next (NXT), QuazarCoin (QCN), Ethereum Classic (ETH), DigitalNote (XDN), Fantomcoin (FCN), among others.
Payment methods accepted by Changelly:
There are two methods to acquire cryptocurrencies in Changelly: crypto-crypto and fiat-crypto. The first one only requires a wallet where the exchanged cryptocurrency will be sent, while the second requires a bank card with which the USD / EUR fiat can be exchanged for more than 35 types of digital currencies.
In this review we will look at the specific steps to take in more detail shortly.
Changelly affiliate program
Changelly has an affiliate program integrated into its platform that provides a 50 percent incentive for users who refer new users to the platform.
In other words, you have the opportunity to earn 50% of the platforms commission for each complete transaction made by a person who entered in the exchange through your referral link.
Once you sign up for the affiliate program, you are provided with a unique and permanent referral link that you can use in your affiliate marketing strategies.
The platform also provides a widget that you can incorporate into your website to get more referrals.
How to buy cryptocurrencies in Changelly
Changelly provides one of the easiest interfaces to use when buying cryptocurrencies.
After opening the website, you will see two fields from left to right where you simply insert the cryptocurrency you wish to convert.
The field on the left is where you insert the cryptocurrency you want to convert, it also has a drop-down menu that provides additional options that allow you to choose the appropriate cryptocurrency.
Also there is a search function that allows you to quickly find the currency you want. By selecting the appropriate option, you can move to the adjacent field where you can choose the cryptocurrency you want to change or convert to.
After this, select the appropriate amount and click on the “next” button.
Afterwards, you will be taken to a page where you will be asked to enter the address of the wallet of origin, followed by the quantity to send and then the destination wallet.
After checking the details through the confirmation page, activate the process through the “next” button.
You can check the status of your transactions through the transaction history. The whole process usually finishes within 5 to 30 minutes.
One thing worth mentioning is that, since blockchain transactions can not be reversed, it is important that the entire process must be carried out with the greatest accuracy.
Buying cryptocurrencies with credit cards
Changelly allows payments through credit cards for more than 35 cryptocurrencies. The supported fiduciary currencies are USD and EUR, and the card can be from any country, provided that the 3D security function is enabled.
The initial steps of the process are quite similar to what was explained above, you only need to enter the corresponding currencies and quantities in the left and right fields.
After pressing “continue”, you will be directed to enter the address of the wallet to which you wish to transfer the assets.
Subsequently, read the details associated with the transaction and, if you agree, click on the Continue button.
The next page will ask you to enter the details of your card and your phone number. After this, you should get a phone call with the code that you must then enter in the appropriate field.
You may also check your bank’s online app for the code that appears on the bank statement.
When you press the Continue button, the process begins and it generally takes a time frame similar to the crypto-crypto conversion process.
Limits in Changelly
The limits of Changelly will be the last point analyzed in this review. The platform imposes limits on transactions based on the number of transactions that a particular user has made over a period of time.
In the United Kingdom, Canada and Australia the limits will be:
- First transaction $ 200
- Next purchase (4 days later) $ 500
- After 7 days 3000 $
- No more than 3 payments the first week
CIS Region (Russia / Ukraine / Belarus / Kazakhstan / Armenia / Georgia)
- First transaction $ 1000
- Limit first week $ 3000
- And for the first month $ 10,000
EU and other countries:
- First transaction 500$
- After 4 days $ 1000
- No more than 6 payments the first week
CONCLUSIONS: Changelly Review
In summary, Changelly seems to be a platform that offers a good combination of simplicity, efficiency and security that is lacking in most exchange platforms.
These could be the advantages that have served the platform to achieve success.