Founded in 2015, the broker has been providing a fast platform for crypto exchange. Changelly is growing in the market to provide a great experience to its clients.
With 2M+ traffic from different places all over the world, and 400+ crypto assets listed within the broker itself. The broker is offering maximum leverage of 1:1.
Changelly is a popular exchange commonly used by beginner and intermediate-level investors to exchange one cryptocurrency for another.
In this Changelly review, you will get the answers to these questions. What is Changelly? Is Changelly safe? What are the Changelly fees? is Changelly scam? What are the Changelly withdrawal limits? Which cryptocurrencies are available in Changelly?
What is Changelly?
Changelly is a cryptocurrency exchange based in the Czech Republic (Czechia). The exchange is clean and easy to use. It allows users to convert between cryptocurrencies easily and fast.
Changelly is an instant cryptocurrency exchange that allows to exchange crypto fast and buy Bitcoin, Ethereum, and Bitcoin Cash for USD and EUR. The service provides good crypto-to-crypto rates and supports over 150+ cryptocurrencies available for exchanging one to another.
The broker is providing services in many languages to meet the need of their multinational clients. These languages include English, Spanish, Deutsch, Portuguese, Korean, Chinese, Russian, and Turkish.
Changelly has a program called Changelly Pro which offers a full-fledged crypto exchange for new beginners and expert traders with over 100 crypto pairs offered through the program.
Changelly buy is another program offered by the broker where it represents a marketplace where trades can carry on crypto purchases with a credit card, bank transfer, or Apple pay. With 160+ fiat currencies.
Changelly instant swap is a platform offered by the broker in order to allow the trader to exchange over 170+ cryptos in 15 min time range.
Changelly says its trading algorithm is integrated into the largest cryptocurrency exchange platforms, including Binance and other big names in the market.
Is Changelly Safe? that’s the question we’ll be trying to answer now. A regulation for any broker is solid ground not only for the broker but for the trader too as it allows a good foundation of trust and reliability between the two parties. Yet that might be a questionable matter here.
Changelly is a crypto exchange broker that started its operation in 2015. There is no regulatory organization that has given any sort of operational license to the broker yet the broker has gotten into several partnerships with leading companies in the market including Binance.
Having a partnership is a whole different story from having a regulatory organization overlooking the broker’s work and approving it and providing a license to operate and I don’t think both concepts should be related to each other.
The broker has served many clients over the years and they have reached 2.6 million users having an exchange and purchase transactions happening every month.
Again, these are great news for the broker but non of them guarantee any safety for the funds or the accounts of the clients. No financial organization has guaranteed a compensation scheme in case of loss or fraud or any other financial crises, and in a market like the cryptocurrencies, any crisis is suspected at any moment due to the high liquidity and fluidity of funds in the market as a whole.
Secure cryptocurrency wallets like Trezor, Exodus, and Coinomi, and many others are availabe within the platform to provide secure transactions.
According to the FAQ section of the website of Changelly, It is one of the most prominent cryptocurrency exchanges that gained the trust of more than 2M users from all over the world. The service provides safe and fast transactions without revealing users identities.
2FA authentication is present on the Changelly platform where is represents a method that keeps your account protected. To log in to your Changelly account, you’ll need to use a Google Authenticator app. You may turn the verification off anytime you want.
Trading Instruments (Cryptocurrencies)
There are many different types of cryptocurrencies that are available for buy and trade within Changelly and they are:
- Binance coin
- USDT (Tether)
- Bitcoin Cash
You can buy, exchange, or even exchange pairs within the platform. However, the exchange can be done through bitcoin, Ethereum, and altcoin. Exchange pairs include ETH to BTC / BTC to ETH/ LTC to ETH/ USDT to BTC and more.
Changelly doesn’t have set amount restrictions. However, there are some cases when a minimum amount applies:
If an amount is very low, make sure that it will cover all required by a blockchain. This means that the amount you are going to send and the amount you are going to receive should be enough to cover input and output network fees taken by a blockchain.
Changelly Funding Methods
You can fund with all the different cryptocurrencies available on the brokers’ platform. With over 150+ cryptocurrencies listed on Changelly. The broker accepts 3 fiat currencies for buying crypto, which are: USD, EUR, and GBP.
Bank card transactions are supported by the broker in which you can apply with any currency and then it’d be transferred to its rate in USD, EUR or GBP. Yet a conversion fee might apply. This conversion fee might apply and increase in case you were using a bank card from another region, so its recommended to use USD / EUR bank cards in order to avoid multiple conversion fees.
Paypal isn’t accepted as a payment method with Changelly .
MoonPay is another method is available for funding at Changelly. Where the daily limit is 2,000 $/€/£ and the monthly limit is 20,000 $/€/£ after you have succeeded in the identity verification process. Changelly and Moonpay charge a total fee of 7.5%.
Indacoin is another means of funding where there is no monthly limit like we have seen with Moonpay however, each area has its conditions. For example, areas like the UK, Canada, and Australia can have a $200 limit for the first transaction and the next purchase has to be in 4 days with a $500as limit, and then $3000 after a week from the first buy, to make a total of 3 payments within the first week and that will allow no limits in one month at all. Changelly and Indacoin charge a total fee of 10%.
Simplex is accepted as a means of deposit where the daily limit is $20.000 and the monthly limit is $50.000. the daily and monthly limits here include all fees. The daily limit is counted not as a calendar day, from 00:00 till 23:59, but as 24 hours since purchasing. And the monthly limit is counted as 31 days since purchasing, and not as a calendar month.
To withdraw, you’ll have to go through a process that is called crypto-to-fiat where is has a total fee of 5% which is currently one of the lowest for crypto-to-fiat transactions on the market. the time frame for where your funds would be set up is 3 business days. Normally, crypto withdrawals are available from BTC into EURO, in which the minimum amount of withdrawal by Bitcoin to sell is set at 250 EUR, and the maximum amount is 10000 EUR, that’s by using basic KYC. In the case of using advanced KYC, the selling amount becomes unlimited.
There is also the option for SEPA bank transfer which enables traders to make cashless euro payments to any account located anywhere in the area, using a single bank account and a single set of payment instruments.
Changelly Customer Support
A good customer support is the one available for the clients anytime anywhere and in different means in order to adjust to the situations of the trader. And since Changelly goal was to provide a good customer experience for their traders, it only makes sense that the broker would pay extra attention to the support service and hot to be able to provide answers to the different queries of the clients.
There are different ways to get in touch with the client support team with Changelly and all the possible ways are presented on their website to provide easier contact and reach the support that’s needed.
You can get in touch via all different emails given on the broker’s website as well as the live chat option available for support. If you have time you can even contact them through their social medias all listed on the account so it can be via Facebook, Twitter, Telegram and more.
There is also a part designed for clients who want to discover the answers for themselves and might not preferer to go through different channels to get to client support, For these clients, an FAQ section was made along with all the troubleshooting queries that might happen or appear at any point while trading. As well as many definitions and the How to section to take you step by step into the application of transactions.
Changelly is a popular cryptocurrency exchange that offers a wide range of crypto coin portfolio and conveniently accepting fiat deposits with credit cards. You may pay in any currency that will be converted at the rate of USD, EUR or GBP.
The question of “is Changelly safe?” has been concluded with the presence of a verification system in place in addition to partnerships with big names and organizations in the market yet, the lack of any financial organization regulation or license has put the broker under suspicion on whether Changelly legit or not.
In this Changelly crypto review, the broker is offering a great variety of crypto for trade and exchange and buying and exchanging pairs too. reliable customer service and different means for funding and withdrawals.
By not fixing rates, we realized the Changelly crypto review charges a very competitive fee on crypto transactions.