Changelly Review: Features, Fees, Pros & Cons

Changelly Exchange Review: Features, Fees, Pros & Cons

Introduction

Changelly is a popular cryptocurrency exchange service that allows users to quickly and easily swap between different cryptocurrencies or buy crypto with fiat currency like US dollars or Euros. Changelly has established itself as a go-to platform for both new and experienced cryptocurrency traders. In this review, we’ll explore Changelly features, fees, pros and cons, the supported cryptocurrencies on the platform, and more.

The following topics will be covered in this article:

What is Changelly Exchange?

Changelly is a non-custodial cryptocurrency exchange that acts as an intermediary between crypto exchanges and users. Founded in 2015, it offers access to over 200 cryptocurrencies, allowing users to exchange them at competitive rates. Changelly is known for its user-friendly interface, making it suitable for both beginners and experienced traders.

How Does Changelly Work?

Changelly aggregates offers from various trading platforms to provide the best rates for crypto-to-crypto exchanges. Users can also purchase cryptocurrencies with fiat currencies through third-party services like Moonpay, Banxa, or Simplex.

Changelly Exchange Features Explained

Wide Range of Cryptocurrencies

Changelly supports over 200 cryptocurrencies, making it one of the most versatile exchanges for crypto-to-crypto trading.

User-Friendly Interface

The platform is known for its straightforward and easy-to-use interface, which is ideal for both beginners and experienced traders.

Non-Custodial Exchange

As a non-custodial exchange, Changelly does not hold users’ funds. Instead, it facilitates direct trades between users’ wallets, enhancing security.

Integration with Wallets

Changelly integrates with various popular wallets, allowing users to trade directly from their wallets without transferring funds to the exchange.

Mobile App

Changelly offers a mobile app that provides the same features as the desktop platform, enabling users to trade on the go.

Changelly Exchange Fees

Changelly charges a 0.25% fee for crypto-to-crypto exchanges. However, if you choose to purchase crypto with fiat currencies, the fees can be higher due to third-party services like Moonpay, Banxa, or Simplex.

Changelly Crypto Exchange Pros and Cons

Pros

  • Wide Range of Cryptocurrencies: Supports over 200 cryptocurrencies.

  • Low Crypto-to-Crypto Exchange Fees: Charges a competitive 0.25% Changelly fees for crypto-to-crypto trades.

  • User-Friendly Interface: Easy to use for both beginners and experienced traders.

  • Non-Custodial: Enhances security by not holding users’ funds.

  • Integration with Wallets: Allows direct trading from various popular wallets.

Cons

  • Not Regulated in the U.S.: Changelly is not regulated to operate in the U.S., which may be a concern for some users.

  • High Fiat-to-Crypto Fees: Purchasing crypto with fiat currencies can incur higher fees due to third-party services.

  • Limited Payment Options: Fewer payment options compared to some other exchanges.

  • High Minimum Trade Amounts: Requires higher minimum trade amounts for certain transactions.

List of Cryptocurrencies Available on Changelly

The platform regularly updates Changelly coins its list of supported cryptocurrencies. Changelly supports a wide range of cryptocurrencies, including but not limited to:

Considering Changelly? Here’s a Quick Recap

  • Pros: Easy to use, anonymous swaps with limitations, vast coin selection, DeFi integration, mobile app.

  • Cons: Potentially higher fees, mixed customer support experiences, limited fiat options in some regions.

Finally, the decision rests with you. Changelly offers a convenient gateway to the crypto world, but be mindful of the potential downsides before diving in.

Conclusion

In conclusion, cryptocurrency exchange platform Changelly is an excellent choice for beginners that offers a seamless experience for buying, selling, and exchanging various cryptocurrencies. While it has some drawbacks, such as higher fiat-to-crypto fees and lack of U.S. regulation, its low crypto-to-crypto exchange fees and non-custodial nature make it a popular choice among traders. The following is what we have learned from this Changelly exchange review:

  • what is changelly cryptocurrency exchange;
  • how does changelly exchange work;
  • top features of changelly exchange;
  • review of changelly fees;
  • Changelly exchange pros and cons;
  • best cryptocurrencies available on changelly;
  • and recap of changelly exchange review.

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Changelly Review - Frequently Asked Questions (FAQs)

What is Changelly Exchange?

Changelly is a non-custodial cryptocurrency exchange that allows users to trade over 200 cryptocurrencies. It facilitates direct trades between users’ wallets, enhancing security and privacy.

How Does Changelly Work?

Changelly operates by aggregating offers from various trading platforms to provide the best rates for crypto-to-crypto exchanges. Users can also purchase cryptocurrencies with fiat currencies through third-party services like Moonpay, Banxa, or Simplex.

What Are the Fees on Changelly?

Changelly charges a 0.25% fee for crypto-to-crypto exchanges. Fees for purchasing cryptocurrencies with fiat currencies can be higher due to third-party service charges.

Is Changelly Legit?

Yes, Changelly is considered a legitimate cryptocurrency exchange. It has received positive reviews for its user-friendly interface and low crypto-to-crypto exchange fees.

See Also

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