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Changelly review 2020

Changelly has more than +100 cryptocurrencies available and support a wide range of countries. I has been around since 2013 where it was founded in the Czech Republic. They have later on partnered with Binance and Bittrex some of the biggest exchanges and therefore it is also safe to say that Changelly is a trustworthy and good exchange to use.

Use Changelly whenever you want to swap between alt-coins as they have some of the cheapest rates (0.25%) swapping between cryptocurrencies.

However be aware of the high fees if you want to use your euros to purchase cryptocurrencies as the rates are substancible higher and there are other crypto companies out there that can give you a way better price, e.g. Bitpanda (read review here).

Privacy

It is possible to use Changelly to trade cryotos to other cryptos without having to identifying yourself with upload of drivers license or passport etc.
However if you want to purchase cryptocurrencies on Changelly with your euros or dollars then you will need to verify yourself as on most other cryptocurrency brokerages and exchanges.

Payment methods

Besides swapping between cryptos where you pay a fee of 0.25% of the currency you are swapping.
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You are also able to purchase crypto currencies with credit and debit card (VISA and Mastercard) via changelly. However purchasing with credit or debit card is not recommended as the fees are quite high see the fees below. Remember the card you are using has to support 3D-secure.

Fees

When using Changelly’s core service, swapping between cryptocurrencies then the fee is relative low - they charge 0.25%

When you purchase crypto via credit or debit card changelly uses a thirdparty service (MoonPay) and for that service you have to top pay 4.99 $/€/£ or 3.5% if the amount of your purchase is higher than 145 $/€/£.

Limits

Once a user has signed up and shared basic information, the monthly limit is €150.

After verification is successful the user will be able to purchase up to €2.000 daily and €20.000 on monthly basis.

Speed

Changelly is has an really good interface however they way that they build their service can also be a bit slow when you trade crypto to crypto. For example when you trade bitcoin to ethereum Changelly is facilitating the transaction. As it is a blockchain transaction there is also a need for confirmations on the network before the funds can be transfered. Depending on how busy the network is this can take up to 2-3 hours for BTC but usually it is quicker. Also the size of your transaction determines how quick the transaction is confirmed.

Fixed rates

You can use a fixed rate on Changelly when you are trading. Meaning that you quote the price and then the price will update every 30 seconds. When you agree to a price then the price will be fixed for 15 minutes. Within that timeframe you have to start the transaction otherwise the price will change.