Changelly Crypto Exchange Summary
Changelly is a disruptive cryptocurrency service that has a high focus on convenience and user interface. Coming out of nowhere onto the scene in late 2019 Changelly has been growing at a fast pace that can only be catalyzed by a good product. Simple one click trading with a simplified user dashboard. Our transactions when testing Changelly were done the fastest.
There was a cavoite that we feel should be addressed. The blockchain response did take a long time for every single one of our orders. This may or may not change in the future. However, for those of you investors that have a productivity complex, ( It's ok, we do too! ) be wary of the time it takes to see those funds show up in your digital wallet.
We have given Changelly a high security record based on customer reviews and its good history.
For our top recommendation on crypto brokers visit Top 5 Crypto Brokers and Exchanges.
Product Rating Summary
Since cryptocurrencies have elevated in popularity through the years, so does the demand for good and trustworthy crypto trading platforms. The more of these platforms emerge, the competition for the audience’s attention grows - the more they have to adapt to the ever changing climate of the market. Some platforms succeed and adapt, others fail and perish away as fast as they came to fruition.
By being one of the leading swap platforms that people use naturally, it has a lot of eyes fixed to it. People are wondering “is Changelly trustworthy? Is Changelly legitimate?” and are looking at Changelly reviews to help them make an informed decision.
Our honest review has found a few things. Changelly is among the most popular cryptocurrency exchange platforms. Some Changelly reviews go as far as to claim that it is the most popular crypto exchange platform around the globe.( It is not) (Binance is the most popular) It is a non-custodial exchange - this means that it holds no liquidity and does not require any deposits. This makes Changelly one of the most secure choices you can make when trading because there is nothing to hack into.
Changelly was founded back in 2013. However, it should be noted that back then it was only an early stage prototype. It was created by a team of a well-known mining pool - MinerGate. At this point, though, Changelly and MinerGate are two separate entities.
The Platform started to gain serious traction in 2016 - this is when it was fully recognized as an independent-leading cryptocurrency exchange platform. Ever since then, it has garnered more than 2.5 million users and is currently holding an exceptionally clean track record when it comes to bugs, frauds or hackings.
8.3/10
Pros and Cons Of using Changelly
Pros
Cons
The Story
How to Use Changelly?
At this part, you should have already gotten a semblance of a feeling towards this crypto exchange platform. If this feeling is positive and you’re thinking about trying the platform out, you’ll need to know how to use Changelly in an optimized fashion.
The very first thing you should do is choose the crypto coins that you want to trade-in.
Changelly offers its customers over 100 different altcoins to choose from when it comes to trading - your options are numerous. Dependent of your preferences and reasoning for trading, though, you might find that there is a lack of niche coins that Changelly would offer.
Changelly Safety
One of the most common questions that people ask when it comes to Changelly is “is Changelly safe?” or “is Changelly legit?”. And rightfully so - we are talking about a cryptocurrency trading platform. A lot of money (in both fiat and cryptocurrencies) is circulating in this and similar platforms - safety should be the number one priority.
There are very little to none claims for Changelly being a scam or fraud. A lot of other Changelly reviews emphasize this to help fellow investors. The larger population of people seem to be happy with the services that the company provides.
No Personal Info
One of the main features that Changelly is famous for is that it requires zero personal information from you when you want to exchange altcoins. The only thing that is required from you a valid email.
Changelly uses a 2-factor authentication to secure your account and transactions. This helps the platform to maintain the highest level of security. Furthermore, they require an email to keep your transaction data in check, so that your acount recovery is swift and easy.
Flat Fee
This is a debated topic. However controversial, Changelly fees have been discussed as one of the top attractions when it comes to why people should choose this platform.
On their official site, Changelly emphasizes that they offer a flat fee of 0,5% per trade. This means that whenever you trade between cryptocurrencies, the company charges you 0,5% from the amount traded.
The contradiction here is that the same does not apply for fiat currency trading.
Changelly Exchange Verdict
The plethora of reasons to invest in crypto are your own. The one unanimously agreed upon reason for trading cryptocurrencies is, it is important to find a trustworthy and safe crypto exchange platform - only then can you be sure that your coins and currencies are not only going to be safe but also travel fast and secure. Changelly puts emphasis on secure and historically less effort on the fast.
* Note * - Since signing up for the Changelly platform we have discovered that Changelly is beginning to process transactions much faster. We have decided not to change our original review until more consistency is shown
The company heads are constantly working to not only bring in new altcoins for people to trade but to also provide the platform’s users with the best customer experience in both the exchange and security departments, respectively.
The only major issue that the company has to deal with is their fiat currency exchange pricing. It has truly become a black cloud over their heads - most of the negative reviews that you’d find online concerning Changelly are (in one way or another) related to this one topic.
If you want to avoid these issues, check out more recommended crypto exchange platforms, such as Gemini and Kraken.
