Changelly Review

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Bottom line:

Changelly is one of the leading platforms for buying cryptocurrency with fiat and exchanging one crypto for another. Although initially aimed mainly at beginners, its Pro platform has expanded its offerings, making it far more attractive to experienced traders. The platform has competitive trading fees, an easy-to-use interface, and over 500 crypto assets.

In short, Changelly is worth considering for first-time investors, novice traders, and experienced crypto enthusiasts. However, it is not available in the US, and the swap fees are also slightly higher than those of other crypto swap platforms.

How We Rated Changelly

Category	Hedge With Crypto Rating
Features	3.4 / 5
Supported Fiat and Deposit Methods	4 / 5
Supported Crypto & Trading Pairs	4 / 5
Fees	4 / 5
Ease of Use	4.4 / 5
Customer support	4.5 / 5
Security Measures	4.3 / 5
Mobile App	2.6 / 5

Pros Explained

• Competitive fees on Changelly Pro. Changelly offers trading fees on par with Binance and ByBit, making it an extremely cost-effective platform for frequent traders.
• KYC is not a strict requirement. Not everyone wants to provide identifiable information to a crypto exchange. As identity verification is not a strict requirement when using Changelly, it could be a good option for those wanting a degree of anonymity.
• There is a wide range of supported coins. Changelly allows users to purchase over 500 crypto assets, making it one of the more diverse exchanges available to investors.

Cons Explained

• Not available in the US. Unfortunately, Changelly is not available to residents of the United States, significantly hindering its accessibility.
• High fees for crypto swaps. Although Changelly's crypto swap feature is very easy to use, its 0.25% fee per transaction makes it far more costly than most options, such as SwapSpace and Exolix.

Changelly Compared and Alternatives

EXCHANGE	CRYPTO ASSETS	TRADING FEES	RATING	PROMOTION	WEBSITE	REVIEW
Binance	385	0.1% (spot) and 0.02% / 0.04% (Futures)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.8 / 5	Up to $100 welcome bonus	Visit Binance	Binance Review
Crypto.com	288	0.075%	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.2 / 5	None available at this time	Visit Crypto.com	Crypto.com Revie…
ChangeNOW	1026	Variable (1.2% to 2.95%)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 3.9 / 5	None available at this time	Visit ChangeNOW	ChangeNOW Review

Changelly At A Glance

Changelly is one of the world's most popular crypto platforms and is widely known for its instant crypto swap and buy services. The Czech Republic-based company was established in 2015 and has gradually expanded its products and features to grow with the increased demands in the blockchain industry. Its team now consists of over 80 employees across three offices worldwide.

Changelly uses a trading algorithm that integrates into some of the largest other cryptocurrency exchanges today to aggregate the best crypto rates, such as Binance, Poloniex, and Bittrex. When a user selects a trading pair to swap, Changelly will search its liquidity partners to find the best available exchange rates for the selected pair.

Exchange Name	Changelly
Features	Instant Crypto Swaps, Instant Buy Crypto, Trading Contests, Leverage Trading
Accepted Fiat Currencies	USD, EUR, GBP, AUD, CAD, +86 Others
Deposit Methods	Credit/Debit Card, Bank Transfer, Crypto
Supported Cryptocurrencies	545
Number of Trading Pairs	576
Trading Fee	0.25% to 0.1% (Changelly Pro)
Customer Support	Help Center, Ticket System, Live Chat
Security Measures	Cold Storage, 2FA, Activity Monitor
Mobile App	Yes (Android and IOS)

What We Liked About Changelly Explained

Instant Crypto Swaps

Changelly enables its customers to instantly swap one crypto asset for another for a small fee. The cryptocurrency exchange process is very straightforward, with users only required to select their desired swap amount, input a recipient address, and send the crypto to a wallet provided by Changelly.

Unfortunately, it's common for crypto swap platforms to use a floating rate that changes based on market conditions and could leave the user with fewer funds than expected. However, Changelly has introduced fixed-rate exchanges that offer slightly less crypto than a floating-rate transaction but ensure there will be no discrepancies in the received amount.

For our Changelly review, we tested the exchange process and were impressed by the transparency and ease of use. It's truly a service that anyone could use. Most transactions are complete within 30 minutes, depending on network load, making it an excellent service for those needing to swap fast wallet-to-wallet.

Instant Buy Cryptocurrency

Changelly users can instantly purchase crypto with a bank transfer or debit/credit card through MoonPay, Simplex, Wert, or Banxa. As such, Changelly is an excellent way for new investors to make their first foray into the crypto market.

There is a good selection of payment methods using this approach such as credit and debit cards and bank transfers which will cater to most individuals. More importantly, over 80 fiat currencies are available to buy crypto including the USD, EUR, GBP, AUD, CAD, and many others. Although, the fees to buy crypto with a credit/debit card are high and should be carefully considered.

Leverage Trading

To ensure its users can take advantage of small price movements and use their desired trading strategies, Changelly has started supporting leverage trading on its Pro platform. Customers can access over 30 margin and futures pairs with leverage of up to 1:100. This appeals to crypto severe traders. As such, Changelly may be considered for day traders looking for an alternative exchange to trade on. However, it falls short on features, trading pairs, and derivatives markets compared to the leading leverage trading platforms such as Binance Futures and ByBit.

Trading Contests

Changelly frequently hosts trading competitions for its users to motivate and reward its customers. Each contest is unique, but most typically require users to trade a particular asset, with the ten highest-volume traders receiving a prize. This feature can add a bit of fun to trading on Changelly, but there are more significant crypto leaderboards in the market with more traders competing.

Changelly Account Creation and Verification

Users wishing to create an account with Changelly can do so in minutes by providing an email address/password and setting up Two-Factor Authentication. Although Changelly is technically a no-KYC exchange, users on Changelly Pro must pass verification to access increased withdrawal limits. Thankfully, this process is simple, requiring only a photo ID (passport, driving license), address, and selfie.

Supported Cryptocurrencies and Trading Pairs

Changelly enables its users to trade 545 cryptocurrencies across 90 unique blockchains, including Bitcoin, Ethereum, XRP, and Aave, at live prices. The Changelly exchange constantly adds support for new altcoins, so it could be worth checking out the complete list of supported cryptocurrencies to double-check whether a particular asset has been added.

On Changelly Pro, an additional 20 futures trading pairs denominated in USDT and 31 margin trading pairs denominated in BTC, ETH, and USDT are available, bringing the total number of tradable assets on Changelly to 576. This is a reasonable selection; however, serious traders looking for low-cap coins may be better suited to using an altcoin exchange.

Changelly Fees Explained

Trading fees

Changelly applies a flat 0.25% trading fee to all crypto trades, which is well above market rates. However, on the Changelly Pro platform, this figure decreased to a standard 0.1%, which is fairly competitive against the top-tier exchanges in the industry. Therefore, the standard platform should be avoided, and switching to Changelly Pro for better value for money.

Purchasing cryptocurrency using a credit or debit card will carry additional fees of approximately 5% depending on the service provider you use (e.g., Simplex, MoonPay, and Indacoin) plus a 2.5% Changelly fee. The same fee applies if you sell crypto back into fiat currency or transfer to a bank account.

Changelly Fees Compared

While the standard Changelly platform is very expensive for trading or buying crypto, the Changelly Pro exchange is far more competitive. It boasts fees comparable to exchanges like Binance or ByBit.

Exchange Name	Trading Fees
Crypto.com	0.075%
ByBit	0.1%
Changelly	0.1% (Trading) 0.25% (Swaps)
eToro	1%

Deposit and Withdrawal Fees

Changelly charges a flat fee based on network cost for withdrawals. While some assets, like Ethereum, boast a small fee of less than $5, others, like Bitcoin, are far more costly, with Changelly charging almost $20 for BTC withdrawals.

Using The Platform

Changelly provides a simple way for investors to purchase or swap cryptocurrencies. As such, the platform boasts a no-frills interface that anyone can use regardless of experience.

On Changelly, crypto swaps and buy/sell capabilities are clearly explained and accessible via the sidebar. The interface couldn't be more straightforward, with users having only to input their order quantity and press a confirmation button.

On the Changelly Pro platform, users can access margin/futures trading and charts created by Changelly and one powered by TradingView. Although Changelly's charts are lackluster and feature no analysis tools, the TradingView integration offers excellent drawing tools, more than 50 technical indicators, and seven different order types. In short, the Changelly website is easy to use and provides functionality suited for beginners and experienced traders, making it more accessible than most other exchanges.

The Mobile App Is OK

Changelly offers two mobile apps for Android and iOS devices: Changelly and Changelly Pro. Unusually, however, the apps are created by different developers and do not feature Changelly in their names. Instead, Changelly Pro is named PRO: Trade and Buy BTC Bitcoin (rated 4.8/5), while the standard platform is called Crypto Exchange: Buy Bitcoin (rated 5/5). Both apps feature a modern and intuitive interface that can be navigated via the bottom menu bar. However, each app offers vastly different features.

The standard Changelly app provides access to a fiat-to-crypto gateway and a crypto-swapping feature. Additionally, users can access basic line charts highlighting the price of every supported crypto asset.

On the other hand, the Changelly Pro mobile app functions like typical order-book-based cryptocurrency exchanges, with users accessing trading pairs and more advanced crypto charting features.

However, while the Pro app lets users choose between line and bar charts, only six basic technical indicators and no drawing tools are available, making analysis challenging. Furthermore, the chart was extremely cramped, so we were unable to fullscreen it or read it clearly, further hampering the app's usability.

While both apps mainly function as intended and are easy to operate, users wishing to perform detailed analyses must find alternative crypto charting tools. Furthermore, the apps are both limited in functionality. As such, it would make more sense to combine both into a single app featuring basic and advanced modes.

Customer Support Feedback

To ensure that its users can always get an answer to a query, Changelly has built a comprehensive help center containing over 30 articles on topics ranging from troubleshooting issues to getting started on Changelly and popular crypto jargon.

Changelly also utilizes an email-based ticket system for users requiring tailored help. Additionally, users can contact a Changelly customer support agent via live chat. We tested the support response time and instantly received a reply from a team member, highlighting the company's emphasis on reliable customer service. Overall, existing customers have rated Changelly with 4.6/5 stars based on 2,895 reviews on TrustPilot, which is a testament to the provision of quality service and customer support.

Security Measures

Changelly is a safe, non-custodial cryptocurrency exchange. The platform keeps user funds in hardware storage wallets, preventing them from being hacked or otherwise compromised. Furthermore, Changelly requires user accounts to be secured with Two-Factor Authentication (2FA) to provide additional account safety.

Changelly boasts an active account session monitor and a complete activity log, even containing any failed sign-in attempts. These preventive measures are working, as Changelly has never been hacked since it launched in 2015.