Changelly is an exchange service that aims to make crypto trading extremely easy.
Changelly was started in 2015 by the same team that created Minergate.
A smarter solution to exchange cryptocurrencies in a simple and cost-savvy way.
One of their unique selling points is the ability to integrate with other exchanges and find the best rates. They use a trading robot similar to Shapeshift.
They are also unique in the fact that no verification is required and you can use a credit/debit to purchase coins.
Changelly is not your typical cryptocurrency exchange. They offer no online wallets, they don’t provide margin trading, and there are no crazy colorful graphs showing the current buy and sell offers.
They are truly a one-stop shop for purchasing cryptocurrency.
Changelly currently supports 80+ altcoins and tokens.
For a full list view their supported currencies.
Where Changelly Shines
- Simple interface.
- Can purchase via a credit/debit card
- Trading robot to find the best rate
- Huge list of altcoins
Where Changelly Can Improve
- Does not accept PayPal
- Withdrawal times are slow
Payment Methods Accepted
Here are the various methods Changelly accepts:
- Credit Card
- Debit Card
- Other cryptocurrencies
For a complete list of Changelly payment methods available in your country, please visit their official website to learn more.
Is Changelly Safe?
Changelly is a reliable site with a focus on security and safety. There have been reports of delayed withdrawals, but that may be due to a congested network.
Make sure to do your own diligence before participating in any exchange.
Just like other exchanges, Changelly has 2FA.
2-Factor Authorization is an extra layer of security that protects your account from attackers. Most 2FA sites use Google Authenticator for generating the secure code.
Before logging in you will need to enter this code. You will also need this code for confirming any exchanges.
How Does Changelly Work?
To use changelly, simple go to there website, pick your currency of choice and then how you want to exchange for that currency.
How To Buy Bitcoin with Changelly
Step 1: Select your preferred currency, enter the amount you wish to spend, and hit exchange!
Step 2: Enter the Bitcoin address you wish to send your coins and hit “click to continue”
Step 3: Enter your billing details and follow the instructions (make sure to check the fees)
Step 4: Check your wallet in a couple of hours and make sure you got your coins!
How To Exchange Bitcoin For Another Cryptocurrency
Step 1: Enter the number of Bitcoins you wish to exchange and select which cryptocurrency you want to exchange for
Step 2: Double check the amounts and click Next
Step 3: Enter the desired address and click Next
Step 4: Double check everything and click “Confirm and make payment”
Step 5: Copy the address and send the correct amount of Bitcoin to receive your desired cryptocurrency
You will get a transaction ID and confirmation email. Once you have deposited the funds it can take anywhere from a few minutes to a couple of hours to complete.
After you have completed a transaction it will appear in your transaction history.
The customer support for Changelly seems to be on par with other exchanges. They are still building up their user base and startup strain is a real problem.
For the most part, they respond in a respectable amount of time, usually within 24 hours.
Here is there FAQ page.
Does Changelly support Paypal transactions?
No, currently there are no Paypal options.
Can I cancel a transaction?
No, always make sure to double and triple check you are transferring to the correct address. Blockchain transactions are irreversible.
Does Changelly have a wallet?
No, they do not have an online wallet. You must provide a wallet to store your own coins.
What is a destination tag?
Destination tags are for certain Ripple wallets. When buying Ripple, make sure to include the proper destination tag.
What fiat currencies are supported with Changelly?
Currently, only USD and EUR currencies are accepted.
Are there any restrictions on bank card payment?
Although you may exchange up to any amount in general, we do have some terms for your first several transactions via bank cards:
- USA, Canada and Australia – $50 limit for the first transaction, the next purchase could be made in 4 days (100$ limit), $500 after 7 days of the first buy. No more than 3 payments within the first week. No limits in one month at all.
- CIS region (Russia/Ukraine/Belarus/Kazakhstan/Armenia/Georgia) – $200 limit for the first transaction. The next limit increase could be done in 24 hours. The total limit for the first week is $2000 and for the first month is $10000.
- EU and other countries – $100 limit for the first transaction, the next purchase could be made in 4 days with 200$ limit. And $500 after 7 days of the first buy. No more than 6 payments within the first week. No limits in one month at all.
My Thoughts On Changelly
Changelly is a very clean site and with an insanely easy to use interface. This isn’t your typical exchange. There is no margin trading, no crazy looking graphs, just simple easy to follow instructions for exchanging cryptocurrencies.
It would be nice if they provided online wallets, but given what they do it doesn’t really make sense for them.
I think of them as the Kayak of cryptocurrency exchanges. They search for the best possible rate and then find you a match.
If you are a beginner, you may want to consider checking out another option. Performing the actual exchanges is easy, but you have to know your way around a wallet. If you feel comfortable with the wallet you have then, by all means, use this service. If you don’t know what a wallet is, then I recommend checking out another exchange.
Coinbase is a very popular beginner exchange.
If you know what a wallet is and don’t want to have to worry about getting verified on a traditional exchange this is a great way to make a fast and reliable transfer.
If you aren’t sold on Changelly, then check out some popular alternatives: