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Changelly Guide

14 April 2021

Changelly is one of the more popular cryptocurrency exchanges with fast transactions. Since 2015, Changelly has now more than 1.5 million registered users worldwide, and the exchange processes over 16,000 transactions every day and has a monthly turnover of about 60,000 BTC or more.

Also Changelly has more than 100 altcoins to exchange or buy, Changelly has a great list of trading pairs to offer their customers. As a company it prides itself on fast transactions, account security, top exchange rates, and an easy to use and intuitive interface. Transactions take as little as several seconds. It also has plenty of trust within the industry.

changelly platform

Changelly is easy to use for beginner’s, for some may be put off by other exchanges complex interfaces or for othe reasons like not been able to use them due to location restrictions etc.

How Changelly Works

A transaction on Changelly begins with one cryptocurrency wallet and the cryptocurrency of your choice. Based on the crypto you choose and the amount, Changelly chooses the best crypto trade for you and then finds the best rate among various cryptocurrency exchanges.

It then converts the money into the currency you chose at the beginning at the best rate, charging a 0.5 percent fee. Then, Changelly delivers the newly converted crypto into your second wallet.

Buy Cryptocoins on Changelly

Buying coins on Changelly is a simple process regardless of what coin you want to buy. There is 5 steps to follow, go to the website and adjust the cryptocurrency on the top with the drop-down menu (the default setting is BTC) to the crypto you wish to change from.

You can use the search function to find your chosen crypto more quickly. Enter the amount of that crypto, adjust the coin on the bottom to the one you want to purchase, and click “Exchange.”

changelly how to buy cryptocurrency

You should then confirm the specified amount you are selling and the amount you will receive, then click “Next Step". After you have done that, the next step is to enter your wallet address where you want to receive the cryptocurrency and double check all the details and then send your funds.

Then you will wait for your cryptocurrency to arrive, done. At any moment, you can view the transaction status by going to your transaction history. You will receive a notification once the transaction has completed, which will normally can take between five and thirty minutes.

changelly cryptocurrency buy

Buy with Credit/Debit Cards

From the Changelly homepage you will see the option to buy with credit or debit card at the bottom right corner.

Changelly accepts payments via bank cards in USD or EUR for more than 35 different cryptocurrencies. As with converting cryptocurrency, the process of buying crypto with your bank card is simple and quick. Just remember that your bank card must support 3D-Secure, which is verification with a phone number. The card may be from any country or use any currency, but it must have 3D-Secure, and you must conduct the transaction in USD or EUR.

changelly buy cryptocurrency with card

Now, you can specify the Cryptocurrency you want to buy and with either usd or euro, enter wallet address where you will receive the cryptocurrency and click continue.

changelly exchange

You will now have to fill your card details, billing address and personnal details to progress to simplexs step 2 verification, which is easy enough just upload your passport or driving permit. You might also get a sms verification depending where you are in the world.

changelly simplex verify when buying with credit card

Initial Limits on Bank Cards

Those in the EU or non-CIS-region countries have a similar limit scheme, but the first transaction can be up to $100. The second transaction (also in four days) has a $200 limit. These countries have the same $500 limit following seven days. There are no monthly limits, but you cannot make more than six payments in the first week.

Those in the CIS region (Georgia, Russia, Belarus, Ukraine, Armenia, and Kazakhstan) have a $200 limit for their first transaction. The following limit increase will take place in 24 hours. The first week’s limit is $2,000, and the first month has a limit of $10,000.

Supported Currencies

Changelly supports over 100 cryptocurrencies. It has a full list of supported currencies along with a description of each crypto on its “Supported Currencies” page. You will have the most popular cryptocurrencies, such as Bitcoin, Litecoin, Dash, Ethereum, Dogecoin, and Monero, along with some you may not have heard about such as BCN or FCN as example.

Thanks to such a large listing, it is highy likely that Changelly supports the cryptocurrencies you want to change between.You can also suggest adding your token to Changelly’s platform if you were interested.

Changelly Fees

Changelly does not fix rates as such because cryptocurrency can be very volatile that the rate can change each minute but here are changellys fees:

0.5% Commission on Crypto to Crypto Trades.

5% Changelly Commission and 5% Simplex Processing Fee on Credit / Debit Card Purchases.

Changelly offer fiat purchases via credit or debit card, their fees for this can be expensive

Do You Need an Account

To protect user’s privacy, Changelly does not require you to create an account to use its conversion services. This means that users do not need to submit personal information, they just need a valid wallet address. However, if you are buying crypto with a bank card you will need verification before the purchase. Those who stick to crypto-to-crypto conversions, however, do not need any verification.

Customer Support

Customer Support via a ticketing system located on the site, visiting the support link will open a popup where you can send an email to their team via the helpdesk software.

Conclusion

Changelly is so easy to use and is an appealing exchange platform for those interested in converting their cryptocurrency. Because the platform does not store your money, there are less security concerns than if it was with an exchange requiring deposits and withdrawals.

Also, Changelly gives the option to buy cryptocurrency with a bank card and that is very useful for those new to cryptocurrency. Their crypto to crypto fees are reasonable and with its fast transactions, Changelly is worth consideration when searching for a crypto exchange.


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