Changelly Review: Is Changelly Legit & How does it work?

This Changelly review starts with a sneak pic at the history of Changelly.

Changelly was founded in 2015. It was among the first instant exchange services, and they made the process of exchanging crypto much easier than it was at the very beginning of the crypto revolution.

The company has a pretty clear mission of giving simple yet safe access to crypto for everyone who wishes to invest in cryptocurrency but doesn’t have the knowledge of a crypto trader.

Since its inception, Changelly has drawn the attention of millions of crypto enthusiasts around the globe and concluded partnerships with various prominent representatives on the scale of crypto space such as MyEtherWallet, Binance, BRD, Exodus, Huobi, Ledger, Trezor, and many more. 

• Over 150 coins available for a seamless exchange
  While the cryptocurrency market seems to be overstocked with thousands of ‘shitcoins’, Changelly aims to offer a selective distillation of the coins that deserve your trust. 
• The lowest fee for crypto-to-crypto exchanges on the market
  Changelly offers a fee of 0.25% for all crypto exchanges. To date, this is the lowest commission on the market if to compare with other trustful instant exchange services. 
• The best rates taken from leading trading platforms
  Changelly exchange mechanism is integrated into the most reputable trading platforms. Whenever a user exchanges one cryptocurrency to another, Changelly correlates the amount to exchange and places bid/ask orders on the trading platforms to pick up the best rate possible.
• VISA or Mastercard bank cards to buy any of coins listed (through Changelly partners)
  Changelly also offers an option to purchase crypto with a bank card. To buy any of 150+ cryptos listed in the service a user needs to pick fiat currency among USD, EUR, or GBP, then choose destination crypto and click to exchange. The fiat-to-crypto transactions are provided by Changelly partners Simplex and Indacoin. The minimum amount to buy crypto is set at 50 USD.
• 24/7 live support 
  Changelly customer support is well-known among the crypto community as it works 24 hours 7 days a week. Support ninjas (as they are called) are always available in case a user needs help or a clue.
• Affordable minimum exchange amounts
  To exchange cryptocurrency through Changelly, you don’t need to have vast amounts of crypto in a wallet. $20 in BTC equivalent will be enough for the exchange.
• Premium OTC desk
  When it comes to exchanging deals with large amounts of crypto, Changelly offers a special OTC service with an individual approach to every OTC client. Such deals are provided by experienced personal OTC brokers and VIP customer support levels. 
• Quick exchange process (from 5 to 30 minutes, on average)
  The average time of exchange takes around 15 minutes. However, if the amount is small, it takes even less: 5 minutes, and the desired crypto is in your crypto wallet.

How does Changelly working principle looks like? To exchange crypto with Changelly, a user needs to follow a range of simple steps:

1. Choose the crypto-pair you want for the exchange and set the amount;
2. Double-check the amounts, the transfer details such as exchange rate, fee included, and estimated arrival;
3. Enter the recipient wallet address, confirm the data once again and process the payment;
4. Wait for the exchange process to be completed (approx. 5-30 min).

Pretty simple!

Changelly service is non-custodial, which means that Changelly does not hold users’ balances. Instead, each user is responsible for maintaining the security of his wallet. As a result, Changelly is safe if the user uses their platform responsibly.

Moreover, all transactions performed via Changelly require the user to register an account using an email address. The account registration is also protected with two-factor authentication and an HTTPS security protocol.

Considering their history and security features, we can consider that Changelly is a legit service to use.

The Changelly fees are as follow: Changelly charges 0.25% for all the exchanges made through the service, and that’s it, full stop. This 0.25% includes the fees paid by Changelly to the trading platforms for the exchange.  

However, Changelly fees are different when it comes to exchanging fiat for crypto. Indeed, this specific service incurs much higher fees - up to 10% due to conducting payments via the 3rd party services, namely Simplex and Indacoin, well-known card payments providers.

Changelly affiliate program provides a unique way for affiliate users to earn 50% of Changelly’s commission for each transaction that is made by another signed up person through the referral link or via the exchange widget. 

The 50% revenue share model works for 90 days since the referral’s registration. The reward is given in Bitcoin and Ether equivalent. 

There are two ways to get 50% of Changelly commission for each referral transaction with the affiliate program, which are: 

• Changelly widget
  Changelly widget is a component of an interface that enables an affiliate user to perform the Changelly instant exchange function. The affiliate user can place the widget on the blog page or on his website to provide the readers and subscribers to the Changelly service. 
• Changelly referral link
  The referral link represents a URL containing the referral’s ID. When clicking it, a user lands on Changelly’s website, where he/she can register and conduct a transaction. Once the exchange is complete, 50% of the transaction fee will go to Changelly’s affiliate. Put simply, the more coins are exchanged through the link, the more profit the affiliate gets.

This Changelly review wouldn’t be exhaustive if we did not mention how Changelly works for businesses.

When it comes to crypto businesses, Changelly also has something to offer. 

The API integration is used to empower the outside crypto-related services with Changelly exchange features. 

Changelly API partners include crypto-wallets, online retailers, or white-label exchanges. 

To integrate Changelly API, you need to send a request to the Changelly developers team via [email protected]. 

The outside services can set up any extra commission they want, though Changelly always charges 0.5%. Thus, if a white-labeled exchange chooses to take a 0.5% extra commission, its users will then have to pay a total commission of 1%. The third-party services that use Changelly’s API (i.e. white-labeled exchange services) can set up any extra commission they want.

I want to end this Changelly review on an educational note. 

Indeed, while being one of the oldest instant exchange services on the market, Changelly aims not only to provide users with exchange solutions but also to educate the newcomers, who would like to invest in cryptocurrency but don’t know where to start. Hence, Changelly issued a cryptocurrency crash course which is free of charge and includes:

• An e-book for crypto beginners that contains all main terms regarding blockchain and cryptocurrency market;
• Crypto essentials for traders and investors willing to make some active or passive crypto income;
• Free expert tips and trends to expand the existing crypto profit.