If you are looking for a high-quality cryptocurrency exchange website, you’ve probably heard about Changelly. Since its inception in 2015, Changelly changed the world of cryptocurrencies for good and quickly became the staple of crypto exchange, with over 1.5 million registered users. At this very moment, Changelly works with around 60,000 BTC and controls more than 15,000 transactions. We can clearly see that these guys aren’t just playing around, with their primary goal being reliability, speed, and account security. Thanks to the numerous features that Changelly offers, you can easily send and receive any cryptocurrency on the market, which is all we need from a website like this.
Changelly began as a small company in 2013 until it became more popular in 2015. Its headquarters is located in Prague, Czech Republic and it’s the biggest European cryptocurrency exchange website. Formed by the MinerGate team, Changelly started as a bitcoin mining pool but quickly became much more. Now, their goal is to remove technical barriers between the cryptocurrency ecosystem and the customers. With the hard work and the sheer talent of developers, Changelly became a prestige cryptocurrency exchange for millions of users.
Interested in how Changelly compares to other crypto exchanges? We have compared all major cryptocurrency exchanges in this article.
Many of you will ask yourself if Changelly is really that safe. Well, if you've read our introduction to this website, you know it isn't fraudulent by any means. In fact, you can just take a look at millions of users which experienced this website at its full potential. As such, Changelly gives us a ton of reason to trust it. When it comes to the safety of an account, Changelly has a two-factor authentication. This alone is enough to keep your account almost unhackable. The next great thing is the instant money exchange.
This means that storing your deposit on Changelly isn’t necessary. You don’t even have to rely on Changelly to keep your money intact! In the end, we just have to look at the numbers as they can tell us a lot. If you didn’t know, even some of the celebrities have their accounts registered on Changelly. So, is it safe? Oh yeah, it sure is!
Take advantage of the security features!
Changelly is very serious when it comes to your cryptocurrency and the overall transaction safety. However, many users reported that these guys aren’t exactly the best when it comes to Customer Support. First things first. The Customer Support is realized via a ticketing system on the website. When you visit the support link, a new window will open and you can send your email regarding some of your questions or needs, which will be directly forwarded to Changelly’s editors.
This all sounds great, but there’s one thing that’s been annoying me for quite some time. Of course, that’s the lack of phone support. On top of that, Changelly’s personnel isn’t known for their fast response times. Many users had complaints about slow customer support times, where the quality of these answers was average at best. Still, with all these features at our disposal, we can’t help but love Changelly, even though their Customer Support is a bit hit and miss.
Since this website is located in Europe, Changelly made sure that European countries can use it with ease. However, unlike many other crypto exchanges, Changelly supports literally every country on Earth. That being said, you can use this exchange even if you are from USA, China, Russia, etc. When you think about it, that’s probably the reason behind the huge popularity of Changelly.
Unlike Customer Support which isn’t the best overall, the Ease of Use is probably something Changelly can brag about. What we like about this website is its simple, yet effective and intuitive interface. Let's first begin the process of signing up. In the upper right corner, you'll see the Sign-Up button which you can use to begin this simple process. In the next window, Changelly offers you whether you want to sign up using your Google, Facebook or Twitter account. If you don’t have or don’t want to use any of these, you can just type your email and proceed to the registration process.
“Super easy and all done in under 30mins. I can only recommend this service, it even allows the most basic crypto fans to use it without a problem.“
However, we recommend that you try and use your Google account since Changelly doesn’t send you any annoying and spam emails. The way I did it was using a few clicks to register via Google and I could immediately start sending and receiving crypto. This process is also simple. You can choose from any cryptocurrency on the list for and convert it to the desired cryptocurrency. After this, you’ll need to click Next and send it to your E-Wallet.
Since we mentioned E-Wallet, you need to make sure you have one. Depending on the crypto you want to send, you might want to have numerous E-Wallets as they support different cryptocurrencies. Another important thing to mention is that you CAREFULLY check the info about your transaction before you proceed. This process lasts anywhere from 5 to 30 minutes, which is pretty fast in my book.
Finally, we need to warn you that Changelly can sometimes get buggy. Every once in a while, it tends to freeze and sometimes crash when trying to convert my cryptocurrencies and send it to my E-Wallet. Although nothing major, I still hope that Changelly will fix these little issues in the near future.
Don't waste time, quickly sign up and start trading!
So, what about the reputation? Well, Changelly has been with us for quite some time. You'll argue that 5 years isn't all that much, but cryptocurrencies weren't that popular at the time. Do you remember when a single Bitcoin was around sixty bucks? This is the time when Changelly made its way to where it is now and it’s not strange they have millions of users worldwide. When it comes to the reputation, we can’t say anything bad about Changelly.
The users are mostly satisfied and we haven’t heard about any bad news regarding hacking and piercing through security measures. Also, Changelly has the reputation of being one of the fastest crypto exchange websites where you can do your job in about half an hour. However, it can be seen that there are some fees that are simply out of space, especially for Fiat purchases, which we’ll talk about later. All in all, Changelly isn’t just a genuine website, but a tool for maximizing the value of your crypto trades.
When people talk about Changelly, there’s often a lot of talking about the fees. Generally, this website is known for... well, not-so-high fees. However, this trend is sometimes not very prevalent due to volatile nature of the whole cryptocurrency market. Because of that, Changelly can’t give you any fixed fees as these rates fluctuate every minute. While the fees may seem forgiving, they can quickly jump and show you that the things aren’t as they seem. What we know for sure is that Changelly takes about 0.5% commission on Crypto-to-Crypto trades, along with 5% Changelly commission and 5% Processing fee on Debit/Credit card purchases.
While this sounds fair, you still need to think about the fluctuating nature of Bitcoin, Ethereum, Litecoin, and other cryptocurrencies. Just a couple of minutes ago, we mentioned Fiat purchases which can be more expensive at times.
Changelly states that there is a Fiat fee of 0.5% for each transaction via credit or debit card. But, I wouldn't recommend messing with Fiat purchases if you don't want to lose more than 10% of your money. You've read it well! If you don't have hundreds of Bitcoins to spend, just stay away from Fiat purchases.
Now is the time to start buying cryptocurrencies!
Changelly has some weird limitations when it comes to the payment options. When you first open the website, you’ll see only the Visa Card support. Just underneath the blank fields for conversion, there is a “Buy Bitcoin with Credit Card” button. This means that the payment method is limited to a Credit Card. What’s worse is that PayPal isn’t supported! I was pretty exasperated by this one since I use PayPal a lot, especially when shopping online.
Aside from this method, Changelly supports various E-Wallets where you can deposit your cryptocurrency. The great thing about this website is the integration of a robot which is further integrated into some of the biggest trading platforms such as Poloniex, BitPanda, and Bittrex.
With this feature, you can bid on these platforms and see if you can do your exchange. Beware that the fees may vary with this method since Blockchain is brought into play. If you plan on using PayPal with Changelly, you may be a bit disappointed as I am.
Sending cryptocurrency from Changelly is simple as a walk in the park. Have you ever walked in a park during a pleasant sunny day? Well, this one is even better! Upon entering the website, adjust the cryptocurrency using the drop-down menu. Next, adjust the second cryptocurrency as this is the one in which your conversion will be realized. Just enter the amount you want to send and then click on Exchange. To confirm the amount you want to send, simply click on Next.
After this, you’ll be prompted to enter your wallet address in order to receive the cryptocurrency you’ve selected. After entering your wallet address, click on Next to see your wallet address and its QR Code. Simply copy the address in the correct field of the wallet you want to use or use the mobile app for the wallet and scan the QR code.
Now, enter your transaction history and you shall see a notification when that transaction is complete. Before you initiate the transaction, know that you CAN'T cancel it since it's based on the Blockchain technology. Because of this, you should always confirm the details you’ve entered and then send your crypto away.
When it comes to receiving the crypto from Changelly…well, as we said, you can’t receive any crypto or money from this website. The reason for this is that Changelly wants to be a completely secure website which doesn’t hold any deposit.
However, you can always provide a Wallet address for your crypto while doing your exchanging stuff. Another important thing to mention is that Changelly doesn’t keep any of your Wallet info, so you need to constantly use your Wallet address to exchange your crypto.
As much as you don’t like it, we are glad that Changelly decided for a more secure option. After all, you don’t want your cryptocurrencies to be stolen by some hacker.
So, we’ve come to the conclusion of our Changelly review. Since you've come a long way to read our conclusion, I guess you have a clear picture of what this website actually is. Unlike many crypto exchange websites, Changelly focuses solely on security and the ease of use. This is an exchange platform that’s great for cryptocurrency enthusiasts who would like to get more out of their crypto exchange and without a doubt, it’s one of the leading platforms.
Aside from offering lukewarm fees that many of you will find fair, Changelly allows you to work with many cryptocurrencies. You’ll be surprised to see how many of them are there, including non-crypto currencies such as USD, EUR, and similar. On top of that, it’s always a welcome addition to have a Credit Card support, albeit PayPal is excluded.
If you don’t mind occasional high fees and some bugs here and there, Changelly might be a great option for you. But, as this is a fluctuating market, I still think that the fees are relatively good. When coupled with some great security measures such as two-factor authentication and strong password, you get both the safety and the luxury of crypto exchange you’ve always wanted. Be sure to check this website, you won’t regret it, that’s for sure!
You can check out all of the most popular cryptocurrency exchanges in one article here.
Have you traded on Changelly? Do you have any advice or suggestion for the other readers? Let us know in the comment section below!
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