Read below our latest blog review of Changelly – the famous Prague based Cryptocurrency exchange.
In the present world of Blockchain Development and other related services, the scope of a cryptocurrency exchange platform is very high and more and more people are in search of the best platforms that we have over the internet presently.
CryptoSoftwares provides the best cryptocurrency exchange software development services
So, finally, we decided to give out a review of Changelly so that it may be useful for the persons who are extremely familiar with such topics.
Do read below…
A Short Bio About The Company
Changelly is basically a cryptocurrency exchange platform that allows you to either transfer or receive Bitcoins or the various altcoins that we have today.
One of the positive aspects (or maybe negative for some!) about this firm is that you can perform all these operations without the registration process or literally by any identification procedures.
They began their operations in the year 2015 and its headquarters is located in Malta.
Changelly makes use of an automatic trading robot for performing the functionalities and it is integrated with some of the largest trading platforms like Bittrex, Poloniex, and much more.
The procedure they follow is by making bids and making inquiries with the respective exchanges so that they can fix on the best available rates on trading pairs.
Services Provided By Changelly
Changelly provides the service of mainly the exchange of cryptocurrencies through easy and simple steps at very high speed. Also, they make sure that all the transactions you make are done anonymously.
The services provided by Changelly can be accessed through their online website, a mobile application on Android and iOS platforms, or also through various third-party wallets like Ledger, Exodus, Jaxx, Coinomi, Edge, and TREZOR.
Get the list of top cryptocurrency trading websites
Other services provided by this Cryptocurrency Exchange Platform includes providing their API (Application Interface) and payment gateway that is customized according to the website’s demand!
You can also buy the cryptocurrencies with credit cards, through the integration with Simplex.
One thing you need to have a better understanding of is that they claim to be completely anonymous transaction processes but you will be needed to go through a full verification process if your transactions are found to be suspicious.
Currencies and Payment Methods
Changelly supports over 130 types of Cryptocurrencies. This feature makes sure that you can conduct transactions based on almost all types of altcoins that we have today and with minimum complications.
Also, they support multiple trading pairs which only very fewer platforms offer presently. So it allows the user to make their own trading pairs with any of the Cryptocurrency available on the platform in one transaction. The online website will take care of the entire trades, you have to select your trading pairs.
Traditional cryptocurrency trading platforms generally have a limited selection of trading pairs, meaning that sometimes users have to make multiple transactions to receive their desired cryptocurrency.
Changelly also supports the fiat currency, and which can be purchased with debit or credit cards.
Changelly claims that they charge only a static fee, and which is definitely a huge advantage over the other Cryptocurrency exchange platforms.
They charge a transaction fee of just 0.5%, which is definitely competitive when compared to other trading platforms.
But some of the other trading platforms like Bitstamp offer much cheaper options. Changelly becomes really worthy or profitable, when you are planning to conduct multiple transactions on altcoins(mainly with smaller amounts), then Changelly will definitely be your best choice in terms of transaction fees as well as the support.
Know how to build your own cryptocurrency exchange software
Changelly does not limit your transactions based on amount. But in the case of fiat transactions, there are certain buying limits, which is about 50 US Dollars for the first transaction.
The next purchase can only be made in 4 days (which is limited to $100) and after a week of the first buy, it would be $500. You can also not make more than 3 payments within the first 7 days.
There are also no restrictions when the whole month is taken into account. In areas like Russia, Ukraine and Belarus the charges differ.
Changelly does not provide its support in the countries of Cuba, Iran, North Korea, Sudan, Crimea, Syria, United States of America, Bangladesh and Bolivia.
From the various reviews and comments collected from the internet, it seems that Changelly seems to be doing a great job with a high customer satisfaction rate.
Their customer support team normally replies back for the queries within 24 hours! They do also provide the service of chatbox through their website.
As two sides of a coin, they do also have certain negative reviews like expensive transaction fees and certain missing funds.
Read the guide on how to start cryptocurrency trading platform
Is Changelly a Legitimate Option?
Changelly is definitely a legitimate and secure platform to conduct your cryptocurrency transactions. The users have certified that the transactions can be conducted safely at instant speeds!
Also, the transaction fee they charge is also minimal or reasonable, which is 0.5%. Remember, for fiat currencies, they do charge some really high fees.
One major negative trait would be the transparency of the company, which they can definitely improve up.
Changelly would be a completely decent choice if you are looking for a platform that supports all the major cryptocurrencies or altcoins.
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