You’ve probably heard of Bitcoin, Ethereum, and perhaps other digital currencies. But how do you buy, sell, and swap these cryptocurrencies?
That’s where Changelly comes into play. In this beginner-friendly review, we’ll dive deeply into Changelly, the cryptocurrency exchange platform, and cover everything you need to know about it.
An Overview of Changelly
Changelly is a cryptocurrency exchange platform founded in 2015. Changelly simplifies the process of buying and selling various digital currencies. It’s like a bridge connecting different cryptocurrencies, allowing you to trade one for another effortlessly.
Whether you’re looking to buy Bitcoin, Ethereum, Ripple, or any other popular digital currency, Changelly has you covered. It’s like the Amazon of crypto – one-stop shopping for all your digital financial needs.
What Makes Changelly Stand Out
1. User-Friendly Interface
One of Changelly’s standout features is its intuitive and beginner-friendly interface. When you land on the Changelly website, you’re greeted with a clean and straightforward layout. The menus are easy to navigate, and the platform doesn’t bombard you with unnecessary jargon. You’ll be up and running quickly, even if you’re new to cryptocurrencies.
2. A Plethora of Supported Cryptos
Changelly supports many different cryptocurrencies, and over 500+ Alt coins. Whether you’re looking to exchange Bitcoin, Ethereum, or a lesser-known altcoin, you’ll likely find it on Changelly. The platform continually adds new coins so you can explore and invest in the latest and hottest projects.
3. Fast and Secure Transactions
When you’re dealing with cryptocurrencies, security is paramount. Changelly takes security seriously and employs the highest industry standards to protect your assets. Additionally, it offers swift transaction times, so you won’t have to wait for ages to complete your trades. This is perfect when you want to seize an opportunity quickly in the fast-paced crypto market.
4. Competitive Fees
Changelly offers competitive fees for its services. The fee structure is transparent, so you won’t have any surprises when it comes to charges. It’s essential to note that while Changelly’s fees are reasonable, cryptocurrency transactions may still involve network fees, which can vary depending on the specific blockchain.
5. Competitive Exchange Rates
Changelly’s commitment to providing the best possible rates is a major selling point. While cryptocurrency prices can be notoriously volatile, Changelly ensures that you get the best deal possible at the time of your transaction. No one wants to feel like they got short-changed in the crypto world, and with Changelly, you won’t have to worry about that.
6. Changelly Mobile App
For those on the go, Changelly offers a mobile app available for both iOS and Android. The app allows you to trade cryptocurrencies right from your smartphone. It’s just as user-friendly as the web platform and provides a seamless trading experience while you’re on the move. Moreover, you get exclusive discounts and exchange rates when you download the app.
7. 24/7 Customer Support
Even the most seasoned crypto traders can run into questions or issues now and then. Changelly offers 24/7 customer support to help you out with any problems you encounter. This level of support can be a game-changer, especially for beginners who might need a helping hand along the way.
8. Changelly PRO
If you’re ready to take your crypto game to the next level, Changelly PRO is an advanced trading platform offered by Changelly. With advanced trading tools and features, it’s tailored for experienced traders looking to dive deep into the world of cryptocurrencies.
How to Get Started on Changelly
Getting started with Changelly is a breeze. Here’s a step-by-step guide to help you get on board:
Step 1: Create an Account
Visit the Changelly website and click on the “Sign Up” button. Provide your email and create a strong password. Remember to keep your password safe and secure.
Step 2: Verify Your Email
You’ll receive an email from Changelly with a verification link. Click on the link to confirm your email address.
Step 3: Set Up 2FA (Two-Factor Authentication)
For added security, it’s highly recommended to enable two-factor authentication. This extra layer of protection ensures that even if someone has your password, they can’t access your account without your approval.
Step 4: Verify Your Identity
Changelly may require you to complete a quick identity verification process, depending on the transaction amount. You’ll need to provide some personal information and, in some cases, a photo of your ID.
Step 5: Start Exchanging
Now you’re ready to start trading! You can use Changelly to exchange one cryptocurrency for another. Just select the currencies you want to exchange, enter the amount, and confirm your transaction. Changelly will provide you with a wallet address for deposit.
How Does Changelly Work?
Let’s break it down into a few simple steps:
- Choose Your Cryptos: Start by selecting the cryptocurrency you want to exchange and the one you want in return. Changelly supports a wide range of cryptocurrencies, so you’ll likely find what you need.
- Enter Amounts: Specify the amount you wish to exchange. Changelly will calculate and display the estimated amount you’ll receive.
- Provide Your Wallet Address: You’ll need a wallet address for both the sending and receiving cryptocurrencies. Make sure you’ve got your wallet ready.
- Confirm and Exchange: After reviewing the details, hit the ‘Exchange Now’ button. Changelly will then provide you with an address to send your initial crypto.
- Transaction Complete: Once your transaction is confirmed on the blockchain, you’ll receive your new cryptocurrency in your wallet. Voila!
Changelly Fees and Pricing
Like most cryptocurrency exchanges, Changelly charges fees for its services. The fees are quite straightforward and generally consist of service and network fees. Changelly charges the service fee, while the network fee is paid to the miners on the blockchain for processing your transaction.
Changelly’s service fee is around 0.25% for floating rates, which is relatively low, and zero for fixed rates. The network fee varies depending on the cryptocurrency you’re trading. Keep in mind that fees can change due to network congestion and market conditions, so it’s essential to check the current fee structure before making a transaction.
Changelly Pros and Cons
- User-friendly interface
- Wide range of supported cryptocurrencies
- Transparent fee structure
- Speedy transactions
- Mobile app for on-the-go trading
- Strong security measures
- Excellent customer support
- Market conditions can affect fees
- No fiat-to-crypto trading
Is Changelly the Right Choice As Your Crypto Exchange?
Changelly is a fantastic choice for beginners and experienced traders alike. Its user-friendly interface, wide range of supported cryptocurrencies, and robust security measures make it a reliable option for those looking to enter the world of digital assets.