Changelly cryptocurrency exchange – March 2023 review

What is Changelly?

Changelly offers a unique proposition: It allows you to exchange one cryptocurrency for another in the most convenient way possible. It does this by aggregating and suggesting the best rates directly on its website.

Changelly’s robot is integrated into the world’s biggest cryptocurrency trading platforms, such as Poloniex and Bittrex. In a matter of milliseconds, the robot suggests the best available rate on its website.

Given the volatility around cryptocurrency, Changelly does not fix rates. This enables the company to charge a very low commission fee for facilitating trades.

What cryptocurrencies can I buy or sell?

Changelly only deals in crypto-to-crypto transactions and does not accept fiat currency conversions. However, you can use the US dollar or the euro to purchase more than 35 cryptocurrencies.

Some of the supported cryptocurrencies include:

Available countries

Changelly is available worldwide, including Malaysia.

Which payment methods are accepted?

Changelly accepts payments in more than 35 cryptocurrencies.

You can also purchase cryptocurrency with your credit or debit card in US dollars or in euros.

How much will it cost me to use Changelly?

• By not fixing rates, Changelly is able to charge a very competitive fee of 0.5% on cryptocurrency transactions.
• Users will also pay networking fees that are set and collected by the blockchain network.

How fast will my funds be available?

Crypto-to-crypto transactions are usually finalised in 5-30 minutes. However, transaction processing times will depend on the capacity of the blockchain network at the time of your trade.

Larger transactions may also take more time to process.

Are there any transfer limits?

The exchange has very high limits and good liquidity, which means you can make trades of virtually any size. However, it’s important to keep in mind that your transfer amounts must be big enough to pay for the blockchain network fee as well.

There are restrictions on bank card payments, although the limit rises substantially after a few purchases. After one month, limits on Malaysia residents are dropped.

• 1st transaction. US$500
• After 4 days. US$1000
• After 1 month. Unlimited

Is Changelly considered secure?

Changelly is viewed as a trusted exchange service that is safe and convenient to use. The platform enables 2-factor authentication to protect your account. This includes Google Authenticator, which provides an added level of security.

Client information such as email is kept private and will only be used to contact you from time to time.

Customer support

Customer support can be contacted directly via email and social media. The website doesn’t list response times, but does have a comprehensive FAQ section that will probably answer many of your questions.

Pros and cons

Get started

Changelly’s smooth interface and user experience have attracted many crypto enthusiasts into its fold. If you’d like to give the platform a try, head over to the Changelly website and click “Login”. Navigate to the bottom and hit “Registration”. Here, you’ll be able to sign-up with your email or social media account.

Frequently asked questions

• Can I cancel a cryptocurrency transaction on Changelly?

  Cryptocurrency transactions are made over the blockchain and are therefore irreversible. Changelly recommends you think twice before exchanging or buying cryptos.

• I exchanged one cryptocurrency for another but my final amount is different. What gives?

  Changelly makes it clear that it does not fix exchange rates due to the underlying volatility of the cryptocurrency market. Since transactions take 5-30 minutes to clear, your final amount may be different.

Image source: Changelly