Changelly Review 2024: A Complete Guide to this Crypto Broker

Tired of trading on complicated, laggy, and pricey cryptocurrency exchanges? Well, you can try out Changelly — a reputed crypto broker known for its breakneck transaction speeds, best possible market rates, and interactive mobile apps.

Crypto broker Changelly has been around since 2015 and lets users sign up and trade without breaking a sweat. But seamlessness isn’t the only reason to consider the platform.

Throughout the subsequent sections, I shall review Changelly at length, evaluating it across a wide range of parameters. From tracking the sign-up process to analyzing the user experience, deposit/withdrawal methods, features, fees, and more, this 360-degree crypto broker review will delve into the depths of investing and trading ease. So, let us get started ASAP.

In 2021, Changelly established ties with Ledger — a reputed global hardware wallet brand.

Changelly: Pros and Cons

Here is a detailed list of pros and cons concerning Changelly, which might help you make a more informed bet about onboarding this broker:

Pros

• Quick crypto buying interface with multiple payment options
• A rewarding referral system termed Changelly Earn
• Diverse selection of crypto assets
• Competitive crypto exchange and swap fees
• Easy to set up and use

Cons

• Not available in the U.S.
• High trade thresholds
• Fiat-to-crypto rates are on the higher side.

One of Changelly’s highlights is anonymity. It means if you plan on using crypto for transactions, you only need the email ID to start your account. For fiat-based transactions, additional verification might be needed.

Changelly Review: History and Background

Changelly came into existence in 2015, with the leading crypto mining pool MinerGate calling the shots. Over the years, the platform saw several leaders, with Co-Founder Konstantin Gladych leading the growth crusade. Originally headquartered in the Czech Republic, Changelly has three operational global offices and an employee strength of over 80.

Over the years, Changelly has evolved its offerings to make more sense to the traders. It was in 2015 when fiat purchases were introduced. The referral-led Changelly Earn came to be in 2018.

Changelly, in 2020, branched out as Changelly Pro, offering services like spot trading and margin trading to users.

Per Changelly’s terms of service, disputes concerning the crypto broker are to be resolved per HKIAC or Hong Kong International Arbitration Centre.

Sign Up on Changelly: How Easy Is It?

If you are a new user, you can simply start by clicking on “Create an account.” To open an account, you need to activate your identity using the email-specific activation link. Do note that the email might get sent to your spam folder.

A basic profile will be ready the moment you activate the link. Before you plan on buying, selling, or exchanging cryptocurrencies, you might want to update the password, set two-factor authentication, and start using the web interface for buying and selling crypto.

While Changelly might be adequate for buying and selling crypto, using crypto addresses, for fiat-based purchases credited to your Changelly account, you would need to onboard the Changelly Pro.

Changelly Pro lets you deposit crypto or make direct purchases using Mastercard, Visa, Google Pay, and Apple Pay — based on regional preferences.

Changelly Pro lets you buy crypto using credit and debit cards. To be eligible, you must complete the ID-based KYC verification at the third-party service provider’s interface.

Or, you can head over to “Settings” on Changelly Pro, select the KYC verification form, and fill in all the relevant details. Also, it is at the KYC level where you need to choose the type of account you need to work with. You can persist with the Starter account with withdrawal restrictions or move ahead with the Trader or Pro account.

For verifying credentials, you can upload your passport, driver’s license, or any government-authorized identity card.

How’s the User Experience on Changelly?

The best part about using Changelly is the user experience. For starters, if you only plan to use the Changelly, you can try out the web version or the Android or iOS apps. However, the Changelly mobile app lets you exchange crypto with zero service fee — something that the web interface lacks.

When you start using the app, a message pops up that you need to share the referral link with a friend to enjoy a 0% service fee. For Changelly Pro, only the web interface is available.

The app view is more streamlined, but if you want advanced trading options, Changelly Pro, via the web interface, seems like a good bet.

Also, when it comes to crypto assets, Changelly supports some of the more popular options like:

• Bitcoin (BTC)
• Ethereum (ETH)
• Ripple (XRP)

And more.

Here is a list that you can refer to:

Exploring the Changelly Apps: Android and iOS

Already interested in trying out Changelly? Let us first check out what the apps have to offer:

iOS Features

1. The quickest possible login option offers the best possible experience
2. Quick access tabs to the exchange and the purchase window
3. The user interface is seamless and feels intuitive, all at the same time
4. Offers easy access to the 24×7 customer support team
5. Optimized feedback form
6. Occasion-specific visual enhancements

Android Features

1. Early integration of security protocols
2. Quick card-based purchase options
3. Offers quick access to main tabs like history, settings, buy, and more.
4. Details related to network and token types
5. Anonymous signup option

For a more personalized feel, you can go for the iOS version. Traders with more focus on security can consider Android.

Changelly Review: Features, Tools, and More

The feature sets are best segregated as Changelly features and Changelly Pro features. On Changelly, the web interface and the mobile app offer standard buying, selling, and crypto-exchanging features. Plus, the app version features stories and news bits, keeping the users informed at all times.

Advanced Trading Tools

At Changelly Pro, you can access spot trading and margin trading features. You can even get leverage up to 25x on Changelly, depending on the crypto you wish to trade. Currently, Changelly Futures trading tools are in the beta stage and should soon be available on a larger scale.

Also, according to Changelly’s website, this crypto broker has over 650 coins and tokens listed. What’s heartening is that the list of cryptocurrencies is further divided into Buy-supported and Exchange-supported cryptos.

Regardless of the type of trade you wish to initiate using Changelly Pro, the “order book” format to show market depth comes real handy.

Changelly Wallet

Probably the most underrated feature, the Changelly wallet is further segregated as spot, margin, and derivatives wallets. Depending on the crypto you wish to buy or trade — BTC, ETH, or any stablecoin — you can choose the wallet you want the funds to move to.

Besides the mentioned features, Changelly also lets you access personalized trading reports, especially to keep up with your region’s tax-specific obligations. Besides that, Changelly has a rewarding affiliate program for generating passive income followed by regular trading contests to keep the users interested.

Changelly Reviews: Exploring the Fees and Limits

Changelly has a transparent fee structure, with the standard Changelly exchange platform levying a floating rate of 0.25% for crypto exchanges.

However, if you wish to trade using Changelly Pro, the fee structure follows a tiered approach. For trades, Changelly charges a fixed maker and taker fee of 0.1%. Additionally, if you are verified as a Trader or as a Pro, it is possible to get additional discounts on the trading fees. For that, your 30-day trading volume is taken into consideration.

For the spot market, a 30-day trading volume higher than 100,000 BTC equivalent makes you eligible for zero maker fees and the lowest possible taker fees of 0.03%.

For Futures trading, users need to pay 0.02% as the maker and 0.05% as the taker fees.

For Futures trading, which is still in the beta stage, Changelly Pro ensures that only traders are involved. Therefore, no commissions associated with funding rates are levied.

If you wish to go deeper into the trades with margin, Changelly has a transparent fee structure in terms of daily interest rates and liquidation fees. Here is how the tiers look:

While deposits are free, withdrawals are subject to a flat fee and the network work — which varies depending on the ecosystem you are working with.

As a trader, you would also be interested in the limits and supported assets pertaining to any crypto broker, Changelly, in this case.

As no deposit fees are levied, you can deposit as low as $1. And yes, there is no maximum deposit limit. The minimum withdrawal limit depends on the fee attracted by specific networks. However, the maximum withdrawal limit varies depending on which KYC level you are on. For starters, with KYC-less usage, the daily withdrawal limit is 1 BTC.

For traders who are KYC verified, the withdrawal limit increases to 50 BTC daily. When it comes to the supported fiat currencies, Changelly works with USD, EUR, CAD, and more.

Another limit-based aspect of Changelly’s operation is the buying limit. Depending on the fiat you choose to buy on Changelly, there is a minimum and maximum buying limit. For instance, USD-based purchases have a minimum limit of $35 and a maximum limit of $18,000.

Changelly Review: Security and Customer Support

Exchange fees, features, and other aspects are fine, but nothing beats the concerns related to a crypto broker’s security. At Changelly, the security implementations are led by advanced security protocols and more.

Other security measures include:

1. Two-factor authentication
2. Withdrawal whitelists
3. Email-based confirmations
4. Google Authentication

You need to activate two-factor authentication for indulging in margin trading and derivatives trading.

When it comes to the quality of customer support, Changelly offers the following resources:

• Access to a detailed FAQ page
• API-based resources for developers
• Ticket-based issue escalation (expected resolution under 24 hours)

Additionally, there is an info-rich blog with tools like a profit calculator to help users learn about crypto and make informed calls.

One of Changelly’s highlights is the high TrustPilot score of 4.6, with several positive reviews.

Who Should Use Changelly?

If you prefer a crypto broker with high liquidity, competitive trading fees, seamless swaps, and crypto conversions, Changelly is the one to consider. While the vanilla interface or app is strictly meant for swaps, there is the more diverse Changelly Pro available, with support for derivatives and margins.

This crypto broker sources its liquidity from the likes of HitBTC and Binance, ensuring access to better rate sourcing.