Changelly Review: Pros, Cons, Fees, Buying Process
By Ethan Thompson│Updated January 25, 2024
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Changelly is a cryptocurrency exchange established in 2015 by Fintechvision Ltd. and headquartered in Malta, according to Crunchbase.
Over the years, Changelly has attracted over 2 million registered users. It’s a well-established player that has processed over 17 million transactions with a total trading volume of over $1 billion since its inception. Changelly has over 2 million monthly traffic and over 500 listed cryptocurrencies as of 2023.
Overview
- Exchange Summary
- Changelly Supported Countries
- Cryptocurrencies Available on Changelly
- Payment Methods
- Changelly Fees
- How Does Changelly Work?
- How to Buy Crypto on Changelly?
- How to Sell Crypto on Changelly?
- How to Exchange Crypto on Changelly?
- What is Changelly DeFi Swap?
- Is Changelly Secure?
- Does Changelly Have Customer Service?
- What Do Users Say about Changelly?
- Pros and Cons
- Is Changelly Good for You?
- The Bottom Line
- FAQ
Exchange Summary
Changelly Supported Countries
Changelly is a global crypto exchange operating in 160 countries, including Canada, Australia, and European countries.
Important:
Changelly is not regulated in the United States and its territories, including Puerto Rico, Guam, and Hawaii. There are restrictions for users residing in the US or its territories:
- You cannot exchange cryptocurrencies.
- You cannot sell cryptocurrencies.
- Some purchase payment processors may not operate in the US.
However, you can buy crypto with your credit or debit card on Changelly unrestrictedly, as it accepts US-regulated card providers.
Cryptocurrencies Available on Changelly
Changelly supports an impressive list of cryptocurrencies. It offers over 580 coins, including but not limited to the following:
You can check the full list of cryptocurrencies on the Changelly website.
Fiat Currencies
Changelly offers several fiat currencies for crypto purchases, including the US Dollar (USD), Euro (EUR), and British Pound (GBP).
Payment Methods
Changelly supports a variety of payment methods depending on the payment processor, user location, and the specific cryptocurrency for exchange. Changelly uses several payment processors, Simplex, Mercuryo, Transak, and Banxa. It offers the following payment methods.
Changelly Fees
Changelly has a 0.25% exchange fee, one of the lowest in the market. Still, users pay other fees for crypto transactions. Here is the complete list of fees charged on the Changelly platform.
| Fee Type | Description | Percentage of Transaction |
|---|---|---|
| Changelly crypto exchange fee | Charged by Changelly for the exchange service | Typically 0.25%. |
| Changelly fiat-to-crypto buy fee | Charged by Changelly for fiat purchases | Typically 4% |
| Changelly crypto-to-fiat sell fee | Charged by Changelly for crypto selling | Typically 4% |
| Blockchain network Fee | Charged by the blockchain network for processing the transaction | Varies depending on the cryptocurrency and network conditions |
| Credit/Debit Card Fee | Charged by the payment processor for using a credit or debit card | Typically 5% |
| Bank Transfer Fee | Charged by the bank for processing a bank transfer | Varies depending on the bank |
Example: You pay 150 USD to buy BNB using a debit card. Your fees will be 11.77 USD consisting of the following:
- Changelly fee: 6.5 USD.
- Payment processor fee: 5.25 USD.
- Blockchain fee: 0.02 USD.
How Does Changelly Work?
Changelly features an intuitive interface and guides the customer through simple steps of buying, selling, and exchanging cryptocurrency.
Changelly is not a classic exchange but rather an exchange service that connects to the largest crypto exchanges and calculates the best rates for buys, sells, and swaps.
How to Buy Crypto on Changelly?
You can buy, sell, and swap crypto on Changelly without creating an account. If you want to register on the exchange, you can go to Changelly Pro. Follow these steps to buy cryptocurrency on Changelly.
How to Sell Crypto on Changelly?
Changelly allows selling crypto via bank card using Mercuryo. For this, you need to have an active and verified (KYC required) Mercuryo account. Check the selling steps below.
How to Exchange Crypto on Changelly?
On Changelly, all 500+ cryptos for buying and selling are also available for exchange, including cross-chain swaps. Follow these steps to exchange cryptocurrency at Changelly.
Example:
Enter your ETH recipient address to exchange BTC for ETH.
What is Changelly DeFi Swap?
Changelly Defi Swap is a liquidity aggregator that pulls data from 100+ decentralized exchanges to give you the best crypto currency prices for swapping coins at any given time. Defi Swap works with BNB Smart Chain, Ethereum, Polygon, Fantom, Optimism, and Avalanche networks.
The Defi Swap decentralized exchange allows you to swap 3000+ tokens without a third-party provider using your cryptocurrency wallet. Follow these 3 simple steps.
Is Changelly Secure?
Changelly is a secure exchange. It uses a 256-bit encrypted connection. It also doesn’t collect your personal details or payment details. It also doesn’t have access to your assets, and your cryptocurrency goes straight to your secure wallet.
Does Changelly Have Customer Service?
You can receive customer support via email and live chat. Changelly’s live chat features real human support agents available 24/7. They respond typically in 1-2 minutes and are eager to help.
What Do Users Say about Changelly?
Changelly has positive feedback across review websites, like Trustpilot (~4.5 stars) and SiteJabber (~3.9 stars). That is a good overall score considering over 3,000 Changelly reviews.
This platform is also very transparent about user feedback. Changelly features a reviews page with over 5,000 customer testimonials from TrustPilot, Reddit, Twitter, and other websites.
Pros and Cons
Is Changelly Good for You?
Changelly is the best crypto exchange for you if you: