Changelly is a cryptocurrency exchange, which offers its services to the users of the world. The Changelly service is provided by the platform, Changelly.com. This platform has been in operation since 2015 and it serves more than 150 cryptocurrencies.
Changelly is a unique exchange platform because it offers an instant exchange of one cryptocurrency into another with no need for registration or verification.
In this changelly review, we will be talking about Changelly, how it works, its features, and its pros & cons as we try to decide the legitimacy of this exchange platform.
What is Changelly?
Changelly is a cryptocurrency exchange which allows you to easily swap your Bitcoin, Ether, and Tether for other cryptocurrencies. It was founded in 2015 and is based in Prague, Czech Republic. Changelly provides an easy and fast way to buy or sell cryptocurrencies using credit cards. Its straightforward interface allows you to buy or sell cryptocurrency in seconds.
The Changelly website states that its main goal is to make the process of buying, selling or exchanging cryptocurrencies as simple and fast as possible. The company was founded by two Russian entrepreneurs who wanted to create an easy way for people to buy cryptocurrencies without having to register with any complicated exchange platforms or going through the hassle of verification procedures.
Changelly offers more than 150 crypto coins to its users with lots of trading pairs. The Changelly exchange has attracted over 2 million registered users from around the world since its launch in 2015.
The company also offers a mobile app for Android and iOS devices for easier access to the site’s services from anywhere at any time. Changelly does not store your funds on their servers but instead uses them directly from their customers’ wallets, making it more secure for everyone involved.
Changelly offers instant conversion of one cryptocurrency into another at the best rate among all exchanges available on the market. The service is fast and easy to use because it requires no account registration or verification process whatsoever, meaning all you need is an e-mail address or mobile number and some cryptocurrency funds that can be converted into other crypto assets.
How does Changelly work?
Changelly is a cryptocurrency exchange that allows you to instantly and seamlessly convert one type of cryptocurrency for another.
Changelly is a hybrid cryptocurrency exchange that combines the best features of traditional exchanges and instant trading platforms. The platform allows users to buy and sell cryptocurrencies for fiat money or other altcoins without the need to register or share any personal information.
To start using Changelly, you need to select the currency you want to convert from the dropdown menu at the top of your screen (the currency you are currently holding). Next, choose the currency you wish to convert it into and click “Exchange!” Once you have selected your currencies, enter an amount and click “Exchange Now!” If you have not already signed up for Changelly, you will be prompted to create an account at this time.
Changelly offers two main features:
- Exchange: Changelly is an instant exchange that allows you to swap one cryptocurrency for another at a predetermined rate. The service supports more than 150 cryptocurrencies and can be used to purchase virtual currencies with fiat money as well as to sell digital assets back into local currency.
- Instant Purchase: Changelly enables its customers to purchase crypto assets directly from their bank accounts or credit cards without going through the lengthy process of signing up for an account on an online exchange platform first. The entire process takes only several minutes, which makes it convenient for both experienced traders and newcomers who want to try their hand at crypto investment but do not have time for all the paperwork involved in setting up an account on a regular exchange platform first.
Pros and cons of Changelly
Changelly has a number of advantages over some exchanges:
Fast and secure transactions: Changelly’s instant exchange service allows you to swap cryptocurrencies in seconds. The platform offers its own wallets, but they are not required to use the service.
No account required: You do not need to register an account with Changelly in order to use their platform. You can sign up with Google or Facebook if needed, but you can also use the platform anonymously by providing only your email address.
High liquidity: The company claims to have high liquidity because it has partnered with more than 150 trading platforms worldwide, including Bittrex and Poloniex. This means that no matter what coin you want to buy or sell on Changelly there should always be someone ready to sell/buy it at any given moment (as long as there are buyers/sellers).
The interface is not very user-friendly and can be confusing for many people who are new to cryptocurrency exchanges in general
You need a Bitcoin wallet address to receive your coins after the exchange which means you will also need an account with one of these exchanges: Coinbase, CEX, Kraken, Bitstamp etc.
There are regional transaction limits and fees are relatively high.
Is Changelly safe to use?
Changelly is a cryptocurrency exchange that allows its users to exchange one type of cryptocurrency for another. It is a very popular service due to the fact that it does not require any email verifications or identification documents. However, it should be noted that Changelly requires only minimal information from its users before they are allowed to use the website.
The website itself was founded in 2015 and has been around for quite some time now. This means that you can trust this company with your money because they have built up their reputation over the years and have proven themselves as a trustworthy service.
All transactions on Changelly are processed through an API key that is generated by each user and linked to their account on the site. This means that you can use Changelly anonymously if you want to, but this also means that if someone gets hold of your API key then they will be able to access all of your funds stored on the platform.
The good news is that there have been no reports of hackers getting access to people’s API keys or accounts on Changelly so far, so you should be safe using this website if you are careful about keeping your API key secure at all times.
Changelly is an excellent all-around cryptocurrency exchange, with very competitive fees. It is secure, easy to use, and does not require any cumbersome registration procedures.
Changelly has a good reputation but there could be better alternatives for you out there.