In a word, Changelly is a simple cryptocurrency exchange that allows users to instantly swap between a large number of cryptocurrencies without having to know the ins and outs of cryptocurrency trading.

Changelly has been in business since 2015 and has quickly risen to the top of the immediate bitcoin exchange market. Fintechvision Ltd, a Hong Kong-based private business with headquarters in Malta, is the sole owner of the platform.

Customers may trade between more than 150 different cryptocurrencies with only a few clicks on Changelly, and they can also buy cryptocurrencies directly with their debit or credit card.

Features

Changelly, unlike many other exchange platforms, strives to keep things as easy as possible, making it accessible to both novice and expert traders.

Changelly’s key feature is its easy-to-use instant exchange feature, which allows customers to convert between a large number of cryptocurrencies in under 30 minutes. This exchange functionality may be accessible through a specialized Changelly mobile app, which is available for Android and iOS devices, or from virtually any device with an internet browser.

Customers have access to a large frequently asked questions (FAQ) website and a blog that provides important insights regarding cryptocurrency exchanges, trading, and the cryptocurrency sector in general, even if Changelly is simple enough for most consumers.

Those that require more immediate assistance can contact live chat support 24 hours a day, seven days a week, and receive a response within minutes.

Users of Changelly can participate in an affiliate program after registering for an account. Users can currently earn 50% of the revenue generated by anyone they refer to the platform through the affiliate program. This fee-sharing approach is only valid for the first 90 days after the referral registers; after that time, affiliates will no longer be paid commissions on that referral.

How does Changelly work

A huge number of third-party wallets and service providers have incorporated Changelly’s exchange capability thanks to the Changelly API. The company also promises to integrate its white-label exchange solution with third-party wallets in three days and to provide API users with complete technical assistance.

Changelly also offers a separate full-featured trading platform called Changelly Pro for people with more extensive trading needs. Customers can trade dozens of cryptocurrencies with limit and market orders, as well as a few more complex order types, and can trade 13 different markets with up to 10x margin through Changelly Pro.

Changelly fees

Changelly, like all other exchange platforms, charges fees for its services.

Fortunately, the company is quite open and honest about its costs, and it keeps things simple by charging a flat 0.25 percent on all crypto-to-crypto trades. Users don’t have to worry about manually accounting for these costs during the order process because they are automatically factored into the exchange rate when generating an order.

Changelly charged a regular 0.5 percent fee for the majority of its existence. However, in August 2019, this was cut to 0.25 percent, allowing the platform to become one of the cheapest rapid swaps available.

When using the platform, there are no explicit deposit costs, however, consumers should consider the bitcoin transaction fee when completing an exchange. For completing its portion of the exchange, Changelly pays the transaction charge.

Changelly charges a 5% fee for anyone wishing to buy or sell cryptocurrencies for fiat money, which it claims is among the lowest in the market. Regardless of the cryptocurrency being exchanged or the recipient’s country of residency, the 5% charge applies.

The Changelly Pro platform has a completely different cost structure, which is based on a maker-taker pricing structure with volume-based discounts for its users.

How to use Changelly  

Using Changelly is a straightforward process, and even total trading newbies should have no trouble executing transactions.

Users can begin creating a transaction on the site without first creating an account, but they must do so to complete the process. Users will be able to access a complete history of their previous exchanges after registering an account, including the date and value of the exchange.

Conclusion 

Overall, Changelly is a straightforward exchange platform that is best suited to cryptocurrency newcomers and those who do not have the time to manually trade markets.

It has a very user-friendly design, and the lack of exchange limitations and reduced KYC requirements make it quite accessible.

However, despite claiming to be the cheapest immediate exchange solution on the market, Changelly frequently uses less-than-favorable conversion rates for various cryptocurrencies, lowering clients’ returns.

Despite this, Changelly’s maximum processing time of 30 minutes is difficult to exceed in terms of speed and efficiency.