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Changelly

Changelly

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Changelly is a great place for new users to buy coins or to use existing currency to trade for other coins – there are around 80 plus individually customisable pairs (eg. Bitcoin to Etereum or Litecoin to Monero etc). The interface is simple to use and the claim is that they source other exchanges to complete the trade at the best possible rates with a very reasonable fee of 0.5%. You can also use a credit/debit card to buy currency although this is not recommended as it is subject to high fees which Changelly advise is out of their control.

How they work

Changelly uses an automated trading bot integrated with exchanges such as Poloniex among others, to obtain the best live pricing. The interface is extremely user-friendly and easy to use. The great thing is you can create your own custom pair, not usually possible on more traditional exchanges. Verification is limited to a simple email registration and 2FA is available (which we always recommend).

Changelly will not store your currency and so a wallet is needed before using their service. A number of wallets and exchanges are supported by Changelly for immediate sending of your exchanged cryptocurrency. Please refer to our wallets page for information on some available wallets.

Support is via email and unfortunately, Changelly has not escaped criticism recently about their support but then what exchange hasn’t? All exchanges are suffering right now due to the huge increase in demand for new accounts which in turn creates a huge strain on customer service related issues. We do believe a large percentage of these reviews and complaints are simply down to strain on systems and poor user education, however, there are sure to be genuine cases but maybe not to the extent you would imagine from online comments.

The Changelly platform is similar to Shapeshift but has a slightly different way to charge fees.

PROS

  • Simple to use
  • Easy registration (just email)
  • Liquid and instant
  • Fixed fee
  • See what rate you receive instantly

CONS

  • Not recommended for FIAT currency transactions

 

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