Changelly Review 2024

Changelly is a popular exchange that seeks to offer a one-stop shop for crypto traders. Users can buy, sell, swap, and trade cryptocurrencies. Unlike traditional exchanges like Binance and Coinbase, Changelly is a form of instant exchange, integrating with others like Binance.

The exchange has recently risen in popularity as more people seek easy ways to buy and sell crypto. But, is Changelly a good platform to use in 2024? Find out in our Changelly review.

What Is Changelly?

Changelly is a cryptocurrency exchange that offers instant crypto transactions. The exchange is a hybrid platform which means that it combines the power of decentralized technology with the safety and familiarity of centralization.

The decentralized component of the exchange means that you can purchase crypto anonymously from your private wallet. However, as a semi-centralized platform, Changelly has full custody of assets. When you buy crypto, it will be sent to your personal wallet.

Changelly is available to use on both desktop and mobile. The platform facilitates buying, swapping and selling over 700 cryptocurrencies – making it one of the most diverse providers available.

Changelly Cryptocurrency Exchange Overview

💼 Provider Type:	Exchange
💸 Minimum Deposit:	Varies depending on minimum trade amount
💰 Trading Fees:	0.25% plus network fees
💰 Deposit Fees:	$0
💰 Withdrawal Fees:	3.95%
💰 Management Fees:	From 0%
🔀 Minimum trade order	0.0004 BTC
⌛ Withdrawal Timeframe:	5 – 30 minutes
#️⃣ Number of Cryptocurrencies Supported:	700+
#️⃣ Number of Crypto Pairs Supported:	300,000+
💱 Top supported Cryptocurrencies:	BTC, ETH, LTC, XRP, SOL
📊 Leverage:	Up to 25x
📱 Native Mobile App:	Yes
🖥️ Free Demo Account:	Yes
🎧 Customer Support:	Online form, Live chat, Email
✅ Verification required:	KYC, AML
📈 CFD Available	No
📊 Software:	Website, web app, mobile app
⚽ Social Trading:	No
✂️ Copy Trading:	No
👮‍♂️ Regulators	None

Pros and Cons of Using Changelly

Pros

Cons

• Simple to use beginner-friendly interface
• Partnerships with leading crypto wallets, payment gateways, and exchanges, including Okex Simplex and Exodus
• 24/7 live customer support
• Quick transaction timelines ranging from 5-30 minutes

• Relatively high fiat to crypto fees
• Not regulated to operate in the USA or UK
• Limited payment options compared to platforms like Binance

Our Take on Changelly

If you do not have time to read through our full Changelly review, here is an overview of what we found during our research.

Overall, Changelly appears to be a good option for experienced crypto traders who are looking for a simple dashboard that supports quick crypto trading. The platform is rather basic, offering a simple swapping interface that supports buying, selling and swapping. There are no advanced analysis features available through the platform and we also could not find any educational resources.

For investors who want to easily buy or sell crypto, the simplicity of the exchange might be appealing. However, this exchange might not be suitable for traders who want to implement complex trading strategies. Similarly, complete beginners may struggle to find the resources that they need to get started with confidence.

Keep reading to discover our full Changelly review and find out exactly what the exchange has to offer.

Is Changelly a Good Exchange for You?

One of the main questions that traders have when reading through exchange reviews is, “is this a good platform for me?“.

To clear up this question, Changelly is a good platform for knowledgeable cryptocurrency investors who want to buy, sell and swap cryptocurrency. Using Changelly requires you to already have your own cryptocurrency wallet and to feel confident using decentralized services.

Changelly Cryptocurrencies and Trading Options

To start, we took a look at Changelly’s cryptocurrencies and trading options. As a hybrid exchange, this is perhaps the most important feature to consider.

What cryptocurrencies can you trade on Changelly?

There are over 700 cryptocurrencies available on Changelly. You’ll have the choice of mainstream crypto and other altcoins. Here are some popular examples:

• Bitcoin

• Ethereum

• XRP

• Cardano

• Stellar

• 1inch

• Aave

• Solana

• Pepe

Changelly offers one of the largest selections of trading pairs that we have come across. The exchange offers over 300,000 trading pairs, supporting both fiat and crypto base currencies. Here are a few examples of popular trading pairs that are available.

• Bitcoin (BTC) – BTC/USDT, BTC/ETH, BTC/DOGE

• Ethereum (ETH) – ETH/USDT, ETH/BTC, ETH/USDC

• Litecoin (LTC) – LTC/BTC, LTC/ETH

• XRP – XRP/USDT, XRP/BTC

Different Trading Options Offered by Changelly

The basic version of the exchange offers simple buying, selling and swapping. However, you can access advanced trading options by signing up for Changelly Pro.

The Pro version of the exchange offers spot trading, margin trading and futures trading.

Margin trading

This trading option is available on Changelly PRO. You can trade using borrowed assets from Changelly in a bid to increase your market exposure. As a result, you only need to pay a fraction of the total cost of a crypto asset.

A separate account is necessary for margin trading on Changelly PRO. The exchange offers isolated margin trading, adding currency separately for each margin. There are many currency pairs available for margin trading; see examples below:

• ADA/BTC

• ETH/BTC

• EOS/BTC

• ADA/USDT

• BCH/USDT

Spot trading

This is the most common type of trading across exchanges. It simply means buying or selling crypto on the spot market with immediate settlement. There are over 160 cryptocurrencies in the spot market. Examples are

• Bitcoin

• Ethereum

• Litecoin

• XRP

• Cardano

• Aave

• MANA

Bitcoin futures

These are trading options that involve a legal agreement between the trader and the exchange. This consists of buying or selling Bitcoin at a specific price at a predetermined time in the future.

Can I Trade With Leverage on Changelly?

Yes, you can trade with leverage on Changelly PRO.

The highest leverage available is 10X, while for some exchange pairs, it is capped at 5X. Leverage is used in Margin trading, where traders can go long or short.

Users can use borrowed funds to increase their profit potential. For instance, a long position with 5X leverage on the ADA/BTC market means that the trader believes the price of ADA will rise compared to BTC. Every time the price of ADA goes up by 1%, the value position of the trade increases by 5%.

Please note that trading with leverage carries significant risk and may lead to the liquidation of your trading account. Therefore, as much as your profit potential multiples, your loss exposure is also high.

Beginners are advised to learn and use demo accounts before trying live trading.

What Are the Spreads?

Changelly charges either a fixed or floating rate. With the fixed rate, charges do not change irrespective of price movement in the market. On the other hand, floating rates vary depending on the market condition.

Fees for Starter accounts are fixed at 0.1%. The spread depends on a trading volume over 30 days for Trader and PRO accounts.

Fees, Limits, and Payment Options on Changelly

Another important aspect to consider is fees. To understand Changelly’s fee structure, we dived into the exchange’s official website.

What Are the Deposit and Withdrawal Fees, Limits, and Speeds?

Changelly integrates with reputable third-party payment providers to give fiat to crypto services. The exchange acts as an aggregator, providing its users with the ability to compare rates and limits from fiat payment providers.

This rates and limits aggregation method is not standard among other leading exchanges like Binance and Kraken. Clients will still get charged deposit fees when using these service providers.

Changelly does not charge a fee for deposits. However, the platform does charge a 3.95% fee for selling crypto for fiat.

Deposit Methods

Unlike other exchanges that have done point-to-point integration with payment providers, Changelly uses third parties. These include:

• Simplex – Visa, Mastercard, Bank transfer, and Apple Pay

• Banxa – Visa, Mastercard, Bank transfer, and Apple Pay

• Indacoin – Visa and Mastercard

• MoonPay – Visa, Mastercard, Bank transfer, and Apple Pay

• Coinity – Unspecified

• Wyre – Unspecified

Various deposit methods have different speeds. Credit and debit cards are typically fast. See below a summary of KYC requirements daily, monthly limits, and fees.

Service ProviderDaily LimitMonthly limitFeesKYC requirementsSimplex$20,000$50,0001% 7%Yes, for transactions over $150Indacoin$6,000$30,0001% 7%YesMoonPayLevel I: $50Level II: $5,000Level III: $10,000Level I: $150Level II: $20,000Level III: $50,0001% 7%Yes, for level II and III purchasesBanxa$15,000$60,0001% 7%Yes

Please note the following:

• Changelly and Indacoin charge a total fee of 10%

• Changelly and Indacoin charge a fee of 7.5%

• Total fees for Simplex and Banxa are not provided.

Withdrawal Methods

Crypto to fiat transactions are only available from BTC to the Euro. The minimum amount of Bitcoin you can sell is worth €250. The maximum is set at 1000 EUR, which will require basic account verification. Traders who have passed advanced verification have no set maximum limit.

On Changelly PRO, the minimal withdrawal amount starts from 0. The applied fee is primarily influenced by network fees and is charged per transaction.

You can lock withdrawal rates on Changelly. After the rate lock up, withdrawals may take a few hours for completion. However, Changelly advises a waiting period of up to three business days.

Please note that not all countries have withdrawal support. Notable absentees include Australia, Canada, and the USA.

How Much Are Changelly’s Fees and Commissions?

The Changelly PRO exchange uses a maker/taker fee model. Trading fees are determined in BTC based on a 30-day trading volume of an account. See below the fee schedule:

30-day Trading BTC volumeTaker FeeMaker Fee≥ 0 BTC0.1%0.1%≥ 5 BTC0.1%0.09%≥ 10 BTC0.09%0.08%≥ 50 BTC0.085%0.075%≥ 250 BTC0.08%0.07%≥ 500 BTC0.08%0.06%≥ 1000 BTC0.06%0.04%≥ 5,000 BTC0.06%0.03%≥ 10,000 BTC0.06%0.02%≥ 20,000 BTC0.05%0.01%≥ 50,000 BTC0.04%0%≥ 100,000 BTC0.03%0%

There are also exchange fees charged at a fixed and floating rate. You can lock the “fixed rate”, which will shield you from market price fluctuations. The fee is dynamic, and the lock is valid for only 15 minutes.

Alternatively, you can use the floating rate for crypto-to-crypto or fiat-to-crypto exchange.

The fee is charged at 0.25%.

Changelly also charges a 3.95% fee for crypto-to-fiat transactions.

Changelly Trade Sizes and Limits

The platform offers low minimum transaction limits. Verified accounts have no maximum limits.

The minimum trade for transactions is the equivalent of 0.0004 BTC.

Changelly Trading Platform

The trading platform offered by Changelly is simplistic and easy to navigate. As soon as you enter the website, you will land on the main exchange dashboard. You can easily switch between coins by clicking on the dropdown option and navigating between selling, buying and swapping with the top nav bar.

The Changelly Pro exchange offers more complex trading tools and features. However, the platform is still user-friendly. Changelly Pro makes it easy to navigate between tools and make informed decisions. Data is presented clearly and the app is intuitive so can be used on mobile for trading on the go.

What Devices Can I Use Changelly On?

You can use the platform across multiple devices, both online and on mobile apps. You can use the following devices:

• Android-based mobile phone

• IOS phones

• Tablet

• PC

Some of the core features you can use on the mobile app on the go include:

• Exchange more than 700 cryptocurrencies

• Buy and sell crypto using a credit card, bank transfer, and Apple Pay.

• Changelly PRO for crypto trading

• High-speed transactions

Can I Use Changelly in Any Country?

Changelly is a global exchange with a presence in countries such as the USA, UK, Australia, and Canada. Please note that currencies are converted to either GBP, USD, or EUR. However, according to the terms on their website, residents in countries such as Bangladesh, Cuba, and Iran cannot access their services. This is on top of countries on the UN sanction list.

Check with your local laws to see if you can use Changelly. Some countries like China have banned exchanges and crypto trading.

Is Changelly Available in My Language?

Changelly is available in nine languages, including:

• English

• Portuguese

• German

• Turkish

How Easy Is It to Use Changelly?

Several design attributes make Changelly easy to use. The platform has a clean and straightforward UI which makes for easy navigation.

The mobile apps mirror the web version, with the user experience transferred there as well. It is easy to set up an exchange without registration.

The platform promises and delivers on high-speed transactions. Transactions take on average 5-30 minutes to complete.

Changelly Key Features

During our review, several key features of the Changelly platform stood out from others. Here is an overview of the features that we were most impressed by.

Customer support

The platform offers excellent customer service with the availability of a live chat feature, email support, and the option to submit a request directly from the site.

The response turnaround is impressive, with minimal complaints even on third-party review sites. This is quite different from many exchanges, with some taking weeks to respond to customers’ queries.

Margin trading and Perpetual futures

Traders can trade margins with leverage. It is possible to borrow from the exchange when you have collateral and use it for trading. The platform offers an isolated margin, meaning traders are protected from excessive risks.

Futures allow investors to trade crypto without owning it. A contract is agreed between Changelly and the trader, proving that a cryptocurrency will be bought or sold at a particular date.

High trading limits

After completing verification and using the exchange for a month, users get very high limits. First transactions are typically capped at $10,000. Subsequent transactions have no limits.

Security and Regulation

With hundreds of crypto scams occurring every year, it is important to choose an exchange that offers stringent security and regulation. Let’s take a look at what Changelly offers.

Is Changelly Safe?

Cryptocurrencies are sent straight to your wallet when you purchase through Changelly. This keeps your coins away from hackers.

On the Changelly PRO exchange, traders have to set up 2FA. There are email confirmations and whitelisting of withdrawals.

From our experience, Changelly seems like a safe exchange to use. However, we did come a cross a few concerning user reviews which claim that the exchange locked up funds for no reason. It is important to only invest with money that you can afford to lose.

Is my cryptocurrency protected on Changelly?

Changelly uses third-party partners to store crypto assets. The exchange does not hold funds but uses payment providers to complete transactions.

The exchange uses an SSL certificate to encrypt data to and from the website. Additionally, each account is protected by 2FA and HTTPS protocol.

Is Changelly Regulated?

Despite a global presence, there is no mention of registration in any of the jurisdictions the exchange operates in.

Do I Have to Verify My Account With Changelly?

Verification is mandatory on Changelly PRO. Verification is divided into three categories: Starter, Trader, and Pro. This is to prevent fraudulent accounts, keep the customer base safe, and comply with international AML and KYC regulations.

Verification comes with several advantages to the trader, including increased transaction limits. Some of the documents and details you have to provide for you complete “Trader” verification include:

• ID documentation (Government-issued ID, Driver’s license, or Passport)

• Phone number

• High-resolution image (a selfie)

How to Use the Changelly Exchange

Here is a step-by-step guide that covers how to buy and sell cryptocurrency on Changelly.

How to Sell Crypto on Changelly

Follow these steps to sell your crypto on Changelly.

• Step 1: Sign in to Changelly

• Step 2: On the side menu, select sell

• Step 3: Select the crypto you want to sell, e.g., ETH, and enter the amount to sell

• Step 4: Confirm your phone number

• Step 5: Click sell

Final Thoughts

Changelly is an instant exchange that aggregates crypto prices from different exchanges like Binance and OKEX. The company has an impressive number of partnerships, ranging from payment providers, exchanges, and wallets. This is what sets it apart from many other exchanges.

Changelly PRO is an offshoot and is custodial, allowing users to trade crypto. There are more than 160 coins and tokens available for trading. Investors can also trade in Margins with leverage and Perpetual futures.

Changelly is available globally and is an easy-to-use platform. The fees are relatively low, and the trading options are decent for beginners and intermediate users. The platform appears to maintain a high level of asset and data security, a vital consideration for any crypto investor.