Changelly Review 2020
Changelly is a unique cryptocurrency exchange based out of Prague, Czech Republic. The exchange was established in 2016 by a team known for their company called “MinerGate”, which has contributed to the success of the exchange with the attraction of over 1 million users. Changelly offers their users a very fast and simple interface for buying and exchanging a large array of cryptocurrencies. The Changelly website differs from other cryptocurrency exchanges for the fact that you can simply convert a variety of cryptocurrencies to other ones quickly and easily. As well, Changelly users can also buy a variety of cryptocurrencies with fiat money including USD and the Euro. The Changelly exchange is best geared towards users who want to quickly acquire a cryptocurrency for the exchange of another cryptocurrency.
- Changelly Deposit and Withdrawal Options
- Supported Countries
- Changelly Fees and Charges
- Limits and Liquidity
- Changelly Privacy
- Security and Verification Levels
- Changelly Customer Support
- Pros and Cons
- Changelly Conclusion
Changelly Deposit and Withdrawal Options
Changelly has a wide array of deposit and withdrawal options when it comes to converting cryptocurrencies, but is rather limited to depositing and withdrawing fiat money. In fact, users cannot actually sell their cryptocurrencies on Changelly for fiat money, only other cryptocurrencies. Users can buy cryptocurrencies with debit or credit cards from any country in any currency, but transactions will either be in USD or Euro.
As for deposits and withdrawals with cryptocurrencies, there are currently 90 coins that be bought or sold. Some of them are listed below:
- Ethereum Classic
- Bitcoin Cash
- Bitcoin Gold
- Power Ledger
Changelly accepts users from any country in the world. As well, they will accept payments in any currency, but it will be converted to either the Euro or USD.
Changelly Fees and Charges
When buying cryptocurrency through Changelly, the rates in which you buy them are not fixed rates because of cryptocurrencies high volatility. Therefore, Changelly always states the current rate the currency is at when you go to buy but may fluctuate slightly when your buy order actually goes through. However, Changelly always achieves the lowest possible bid when buying the cryptocurrency. With that said, Changelly does offer fixed fees of only 0.5% which are clearly laid out at the time of purchase.
Something to keep in mind when using cryptocurrency exchanges like Changelly is that obtaining the best rates is not the exchanges purpose, but rather obtaining the lowest possible rate in the shortest amount of time. The exchange is all about speed and convenience, which is great for both beginners and experienced cryptocurrency users.
Limits and Liquidity
When buying/exchanging a cryptocurrency for another cryptocurrency, the sky is the limit. Users can convert their cryptocurrencies for others as often and however much they want, which in return creates a highly liquid market.
However, when buying a cryptocurrency with fiat money there are limitations that vary for different countries and regions. See the limitations below.
USA, Canada, and Australia- Residents of these countries are limited to just $50 for their first transaction. Their next purchase can be $100 but only made 4 days after the first transaction. 7 days after the first transaction $500 can be purchased. After this, there are no limits.
CIS region- People residing in these regions are limited to $200 for their first transaction, then after 24 hrs, they can purchase more with a limit of $2000 for the first week and $10,000 for the first month.
EU & Others- Users are limited to $100 for their first transaction. Their next purchase can be $200 but only made 4 days after the first transaction. 7 days after the first transaction $500 can be purchased. After this, there are no limits.
For people who prefer to be kept anonymous, Changelly may be attractive to them as they do not require any verification to use the exchange. No government documentation is required like with many other cryptocurrency exchanges. The only thing that is required from the users is an email address which will never be shared with any third parties.
Security and Verification Levels
Changelly is a very safe and secure cryptocurrency exchange backed by the team behind MinerGate. There are no verification steps required so users’ identities are kept safe. As well, a user’s cryptocurrency is not stored on the exchange but rather goes to and from their own personal cryptocurrency wallet. For added security, each users account is protected by two-factor authentication. Changelly is trusted and used by over 500 000 satisfied customers and continues to grow as a simple and safe cryptocurrency exchange.
Changelly Customer Support
The support offered by Changelly is pretty good in terms of cryptocurrency exchanges. Changelly offers their users support through email at email@example.com. As well, the exchange has a very informative FAQ page where many of the common questions a user might have been answered. As well, there are clear instructions on the website on how to use their services.
Pros and Cons
- Safe & Secure cryptocurrency exchange
- Easy and intuitive interface
- Impressive limits and liquidity
- Accepted in every country
- Fees may be higher than some other exchanges
- Unable to sell cryptocurrency for fiat money
Where is Changelly based at?
Their headquarters are located in Prague.
How do I fund my account at Changelly?
Through cryptocurrencies (Bitcoin, Ethereum, Litecoin, Bitcoin Cash, etc.), and Credit & Debit Card.
How long does a withdrawal normally take at Changelly?
Depending on the cryptocurrencies network. It can take anywhere from seconds to hours.
How safe is Changelly?
Very safe. They have a good reputation and have two-factor authentication enabled.
Is Changelly a scam?
No, they have over 500 000 satisfied users.
Changelly is an excellent platform for buying and exchanging cryptocurrencies in a fast and easy way. They have competitive fees and a large selection of cryptocurrency assets to choose from. If you are somebody who doesn’t want the hassle of signing up for a more traditional exchange where you compete for the best price, Changelly could be for you. They are a fast, simple, and easy to use cryptocurrency exchange service.
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- Ethereum Classic
- Bitcoin Cash
- Bitcoin Gold
- Bitcoin Private
- Cape Verde
- Sri Lanka
- United Kingdom
- Solomon Islands
- Trinidad and Tobago
- Burkina Faso
- Russian Federation
- Saint Lucia
- South Sudan
- Virgin Islands, British
- South Korea
- Saint Kitts and Nevis
- Saint Vincent and the Grenadines
- Vatican City
- Papua New Guinea
- Cote d'Ivoire
- Dominican Republic
- Bosnia and Herzegovina
- Equatorial Guinea
- Hong Kong
- Sierra Leone
- Saudi Arabia
- Cayman Islands
- Sao Tome and Principe
- Czech Republic
- United Arab Emirates
- Marshall Islands
- New Zealand
- Antigua and Barbuda
- Central African Republic
- San Marino
- Costa Rica
- El Salvador
- South Africa
- Isle of Man