Changelly is a cryptocurrency exchange that allows you to trade 200+ digital currencies. There are a handful of these platforms available that aim to make cryptocurrency exchanging simple, including some offered by digital banks.
At its most basic, Changelly has an exchange feature that allows you to swap cryptocurrencies via third-party platforms. It works in a similar manner to sites like UNI Swap and Pancake Swap. In this Changelly review, we look at how this platform works, and what it has to offer you as a Cryptocurrency investor.
In this review…
- Changelly Overview
- Changelly Pros and Cons
- Mobile App
- Changelly Review Summary
Changelly is a cryptocurrency exchange. It is non-custodial – meaning in that it connects you with third-party exchanges and facilitates trades on your behalf. You can use Changelly to easily swap, buy, and sell cryptocurrencies like SHIBA, Bitcoin, and Doge via other platforms. The simple exchange function is incredibly easy to use and you can choose the best current offers from different third-party exchanges.
When using Changelly, there are several things to consider. Firstly, for the basic version, you need a separate cryptocurrency wallet. We advise researching wallets beforehand so you understand fully how they work and how to get one. Secondly, they also only support a limited number of payment options for buying crypto. Changelly does support debit and credit cards, but still, they don’t support PayPal.
It is also worth noting that Changelly does have a pro platform. This offers advanced trading functionality similar to platforms like Binance. You can analyze charts and trade cryptocurrency in greater detail. The pro version also includes a multi-currency wallet for convenience.
- A simple exchange dashboard for currency pairs
- Mobile app for Android and iOS devices
- Pro platform for advanced trading
- Floating or fixed exchange rates for crypto pairs
- 2FA security for website and mobile platforms
- Supports the exchange of 200+ cryptocurrencies
Changelly Pros & Cons
Changelly Review – Who is this crypto exchange for?
In this Changelly review, we look at the various features this crypto exchange has to offer. This includes the website dashboard, the mobile app, the exchange tools, and the pro version. We also assess the customer support and the overall utility of this platform.
Changelly operates via a simple website dashboard. The main homepage features the exchange tool and also shows rates of popular cryptocurrencies like Bitcoin and Ethereum.
We like the minimalistic style of the website. If you have little or no experience using Crypto exchanges, Changelly gives an easy introduction. This contrasts with some other platforms like Binance that can seem overwhelming and cluttered at first glance.
The top menu gives access to the “earn” tab and the pro version of Changelly. The earn section is a set of tools and features aimed at making additional income from crypto trading. This includes affiliate links, website widgets, exchange buttons, and more. We discuss the pro version in greater detail below.
Aside from this, the main dashboard could not be simpler. It essentially provides information for first time users, and also shows a range of Trustpilot reviews.
Buy Crypto Feature & Convert
For simple crypto trading, Changelly has an exchange tool. This widget is displayed on the homepage and it is where you will conduct most of your transactions. The widget has three tabs – exchange, buy and sell.
The exchange tab allows you to select a cryptocurrency pair and swap one for the other. For example, you could swap BTC for ETH. It clearly shows how much you will send, and what you will get in return for the other cryptocurrency. You can also see the current exchange rate.
We also like that you can select either a floating rate or a fixed rate. The floating rate is continually changing to represent current market prices. This obviously gives leeway to make more or less profit. Alternatively, if you don’t want to risk losing out, you can simply choose the fixed option. This rate is usually slightly lower than the current market rate but is guaranteed.
Alternatively, you can use the buy and sell functions. These allow you to directly buy and sell cryptocurrency using fiat currency and standard banking methods. The payment methods accepted are sadly limited. However, you can buy cryptocurrency using credit cards, debit cards, bank transfers, and Apple pay.
If you click on the buy or sell tabs you are presented with a list of potential third-party platforms that can facilitate your transaction. Don’t worry – everything is done automatically via Changelly. But it does mean you can choose the best offer and prices.
It is important to note that the basic Changelly platform does not provide you with a crypto wallet. Before you can use this platform, you must have a third-party cryptocurrency wallet from a provider like MetaMask or Coinbase. This adds an extra level of work and effort. However, having a personal crypto wallet if you are serious about trading is a great idea regardless.
If you want more features and versatility, you may want to consider Changelly Pro. This is essentially an upgraded trading platform for those who require greater control and tools.
By using a Changelly Pro account, you also get a multi-currency wallet. This means that you do not have to set up a third-party wallet. Also, you get access to the full trading terminal. The trading terminal is similar to other platforms like Binance. It features crypto pairs and shows detailed value graphs so you can pick out market trends.
The Changelly Pro platform is pretty good, but some may feel that it is not quite on the same level as other major cryptocurrency trading platforms.
Changelly Mobile App
Oftentimes people want to trade on the go and have access to their cryptocurrency investments whenever and wherever they please. The Changelly mobile app allows you to do this. This app is available on Android and iOS devices and doesn’t take up much storage space.
The app is minimalistic and simple to use. It essentially emulates the main Changelly website but in a condensed format. The main screen has an exchange button, and you can also easily see your account history and current rates for cryptocurrencies.
We like that you can make a watchlist of your favourite cryptocurrencies or search manually for the current rates of any cryptocurrency that Changelly supports. You can also quickly manage your account, change settings, and access customer support. Overall, the mobile app gives a pleasant user experience and is a great addition if you have a Changelly account.
For the cryptocurrency industry, security is a prime concern. There are many instances of wallet hacks, and attacks on exchanges. As a result, customers want to know that their funds are secure.
The main downside of Changelly is that you must use a third-party wallet. Other Crypto trading platforms like Coinbase and Binance provide a wallet and secure your cryptocurrency for you. Therefore, the security is only as strong as the security of your personal cryptocurrency wallet.
We do, however like the account security. As standard, Changelly requires 2FA for user logins for both the online and mobile versions. This is one of the best security measures to prevent account fraud. To improve your security, we advise choosing a secure cryptocurrency wallet that uses advanced authentication methods too if using Changelly.
With many simple crypto exchanges like Changelly, customer support is limited. There is no telephone support line, however, there is a dedicated support desk on the website. Also, via the mobile app, you can directly access live chat customer support.
For the website version, the helpdesk provides a simple knowledge base. You can search this database to find answers on different issues such as troubleshooting, linking wallets, and getting started. Also, registered users can submit a support ticket. There is also a live chat on the website. To use this, you have to first enter your email address and name.
Although we would like to see more variety of support, the methods available do seem reliable. Also, the helpdesk does give answers to many common issues users may encounter.
Changelly Review Summary
For simple exchanges and purchasing of cryptocurrency, Changelly is certainly a worthwhile platform. It makes the process simple, and it connects you with the best crypto exchanges in the world like Binance. Once you have registered with the platform and sorted a third-party crypto wallet, you can easily use the exchange, buy, or sell features to invest in cryptocurrencies.
The security is decent with 2FA account authentication, and although there is no telephone support, you can still easily access the live chat or submit a support ticket. One thing to consider is that Changelly currently only supports a minimum variety of payment methods including Debit cards, Credit Card, Bank transfers, and Apple Pay.
If this Changelly review helped you, please recommend DigitalSupermarket.