Changelly is an instant and secure currency exchange. This service allows you to buy more than 150 cryptocurrencies with a bank card.
It’s a platform that acts as an intermediary between crypto exchanges and users.
Changelly is one of the most famous cryptocurrency exchangers. Their system doesn’t store coins but simply dedicates to exchange them.
Learn 10 facts you need to know about this service in this Changelly review.
1. How does Changelly work?
Changelly is a cryptocurrency exchanger. It is not a virtual wallet or wallet address.
That is, you previously need a wallet address to store your cryptocurrencies. This address is generated by your virtual wallet.
With this service, you can exchange crypto, such as Bitcoin to Ethereum. Or also, buy crypto with a bank card.
What types of wallets exist?
- Software: it can be an app or a web page.
- Hardware: it is a device that stores your cryptocurrencies, such as a USB drive. Many people consider it the safest option since it is in their hands.
- Paper wallet: it can be a physical document or offline key storage.
- Any of these three types of wallets generates an address that allows you to receive the coins.
Steps to buy/exchange crypto
Once you have your wallet address, you can start using Changelly. The steps to buying coins are:
- Choose a currency to buy with a card, or a couple of coins to exchange.
- Corroborate the rates, the 0.25% service rate, and the network rates.
- Confirm the transaction and login with your email to save your history.
- Send the exact amount to your wallet address, and you will receive your crypto in a few minutes.
Remember to check everything carefully before making the transaction so as not to lose any detail.
Changelly only charges a 0.25% fee per transaction.
You should also keep in mind that every time you buy a currency, the currency goes through blockchain, and processes a small commission. This commission is from the blockchain system, and not from Changelly.
How are the rates established?
The nature of cryptocurrencies is very volatile, so they are going up and down all the time.
That is why Changelly offers two types of exchanges rates:
- Fixed Exchange Rate: With this type of transaction, the system fried the value of the currency, and you have 15 minutes to complete the transaction. The rates are already pre-determined.
- Floating Rate: With this type of transaction, the value of the currency will be established at the time the exchange is made, and Changelly will charge a fee of 0.25%.
So, how safe is trading with Changelly?
First, access to your Changelly account is protected with Google’s 2FA Authentication. This authenticator ensures that you are the only one who can access your account.
It is also protected by the HTTPS protocol.
As a second security reason, trading with Changelly has an instant accreditation at your wallet address. Changelly doesn’t store or retain coins on its platform.
And as the last reason to trust Changelly, you should know that more than 2 million users use this platform.
4. Payment methods
To buy cryptocurrencies on the Changelly platform with a card, you can do it with USD, EUR or GBP.
However, you can make the purchase from any country and any currency. But all transactions will be transferred in USD, EUR or GBP.
You can pay with credit cards and debit VISA / Mastercard. But from their official website, they recommend debit cards. Anyway, you can do it with both.
At the moment, they don’t accept payments with PayPal.
But they accept payments with MoonPay, Indacoin, and Simplex.
Does it have minimum/maximum amounts?
Changelly doesn’t set minimum or maximum amounts to buy. But many times, some credit cards have a limit that may shorten your range.
Changelly supports more than 150 cryptocurrencies.
The best known are Bitcoin, Ethereum, XRP, Tether, or Litecoin. But on their platform, they accept hundreds of coins.
You can check the complete list from its official website.
6. Changelly Support
Another point to consider is Changelly customer service.
This company offers two service modes: via online chat, or via tickets.
Of course, in its platform, you will find hundreds of resources and frequently asked questions about the most common questions.
But in case you have a problem or any other doubt, you can contact their customer support. Their support is 24/7.
Many customers recommend this service due to its quality and its high level of support.
7. Crash Course
Besides, Changelly offers a free course from its official website, to explain the world of cryptocurrencies.
This is an e-Book that includes different topics such as popular scams, active crypto types, hot and cold wallets, and another.
This course is divided into three:
- Changelly e-book for crypto beginners: This division of the course is for beginners in cryptocurrencies, and warns of the main mistakes and provides the best tips.
- Crypto essentials for traders and investors: This course includes advanced information for users with more experience in cryptocurrencies and trading.
- Free expert tips: It also provides the best tips and recommendations for investing in cryptocurrencies, as well as the best options.
8. Account verification
Generally, when you open your account, they usually ask for some information to verify your account.
This is done for security reasons to avoid fraud and scams. Many times some crypto coins are used for criminal activities.
Because Changelly is a high-security company, you have to ask for specific documents.
The documents you may be asked for are:
- A high-quality photo of your ID (driving license or passport)
- Proof of origin of funds
- Another applicable document
9. Mobile App
You can also download the Changelly app to your mobile phone to start using this service.
This app facilitates the use of the platform and allows you to save your wallet addresses easily.
From the app, you can also select between fixed and floating exchange rates.
10. About Changelly
Changelly is a company that operates since 2015 as a non-custodial cryptocurrency exchanger.
Its mission is to facilitate the process of acquiring cryptocurrencies for anyone.
Currently, thousands of transactions are made per hour on its platform, and thousands of people operate with Changelly.
Likewise, it is associated with many companies such as Exodus, Coinomi, Trezor, Ledger, and many more.
Changelly Review: Final Thoughts
Investing wisely in cryptocurrencies can be one of the best investments for 2020.
Ultimately, crypto is rising more and more, while local currencies in many countries sink.
Changelly is an excellent platform to acquire cryptocurrencies at the best price and store them in your wallet.
Thousands of people trust this platform and offer high-quality service and excellent help support.
As a verdict of this review of Changelly, I can say that it is a great platform to exchange cryptocurrencies.
If you are not already registered in Changelly, you can create a free account now and start enjoying all its benefits.
What is Changelly?
Changelly is a safe and fast cryptocurrency exchanger. You can currently exchange more than 150 different coins.
How does Changelly work?
Changelly works as an intermediary between cryptocurrencies and users. To use this service, you need a wallet address to store your cryptocurrencies (Changelly is not a wallet).
What payment methods does Changelly accept?
To buy cryptocurrencies, you can do it with a credit or debit card. You can also exchange cryptocurrencies.
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