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An Honest Changelly Review in 2022

Last updated 16th May 2022
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Changelly is a non-custodial crypto ecosystem that offers products and services ranging from buying to swapping crypto.

Are you wondering whether Changelly is a suitable exchange for you regarding fees, services, trading options, and more? Read our comprehensive review.

4/5 Star rating
Exchange Bitcoin and 200+ altcoins in a fast, simple and secure way
Average transaction speed of 25-40 minutes
24/7 support

Changelly seeks to offer a one-stop shop for crypto traders. Users can buy, sell, swap, and trade cryptocurrencies. Unlike traditional exchanges like Binance and Coinbase, Changelly is a form of instant exchange, integrating with others like Binance.

The exchange prides itself on providing the best crypto to crypto rates. It supports over 160 crypto coins and tokens.

The company officially started its exchange services in 2015. It was, however, founded in 2013 by MinerGate developers.

Some of the core features you can expect and use are:

  • A wide variety of cryptocurrencies, including Bitcoin and Ethereum

  • 24/7 live customer support

  • Competitive trading rates

  • Exchange crypto without the need for registration

  • Simple and intuitive user interface

  • High liquidity with over 2 million visitors daily

  • Multicurrency wallet with Changelly PRO

  • Changelly PRO exchange for crypto, margin, and futures trading

Changelly Overview

💼 Provider Type:Exchange
💸 Minimum Deposit:$0
💰 Trading Fees:Varied
💰 Deposit Fees:Varied
💰 Withdrawal Fees:Varied
💰 Management Fees:0.1%
🔀 Minimum trade order0.00001 BTC
⌛ Withdrawal Timeframe:5 - 30 minutes
#️⃣ Number of Cryptocurrencies Supported:160+
#️⃣ Number of Crypto Pairs Supported:100+
💱 Top supported Cryptocurrencies:BTC, ETH, LTC, XRP, EOS
📊 Leverage:Up to 10x
📱 Native Mobile App:Yes
🖥️ Free Demo Account:Yes
🎧 Customer Support:Online form, Live chat, Email
✅ Verification required:KYC, AML
📈 CFD AvailableNo
📊 Software:Website, web app, mobile app
⚽ Social Trading:No
✂️ Copy Trading:No
👮‍♂️ RegulatorsNone

Pros and Cons of Using Changelly

Pros

Simple to use beginner-friendly interface
Partnerships with leading crypto wallets, payment gateways, and exchanges, including Okex Simplex and Exodus
24/7 live customer support
Quick transaction timelines ranging from 5-30 minutes

Cons

Relatively high fiat to crypto fees
Not regulated to operate in the USA or UK
Limited payment options compared to platforms like Binance

Changelly Cryptocurrencies and Trading Options

What cryptocurrencies can you trade on Changelly?

There are over 160 cryptocurrencies available on Changelly. You’ll have the choice of mainstream crypto and other altcoins. Here are the primary examples:

There are many trading pairs on the exchange. Some of the top ones are outlined below:

  • Bitcoin (BTC) – BTC/USDT, BTC/ETH, BTC/DOGE

  • Ethereum (ETH) – ETH/USDT, ETH/BTC, ETH/USDC

  • Litecoin (LTC) – LTC/BTC, LTC/ETH

  • XRP – XRP/USDT, XRP/BTC

  • EOS – EOS/USDT, EOS/BTC

Different Trading Options Offered by Changelly

Apart from spot trading, Changelly also offers Bitcoin futures and margins trading.

Margin trading

This trading option is available on Changelly PRO. You can trade using borrowed assets from Changelly in a bid to increase your market exposure. As a result, you only need to pay a fraction of the total cost of a crypto asset.

A separate account is necessary for margin trading on Changelly PRO. The exchange offers isolated margin trading, adding currency separately for each margin. There are many currency pairs available for margin trading; see examples below:

  • ADA/BTC

  • ETH/BTC

  • EOS/BTC

  • ADA/USDT

  • BCH/USDT

Spot trading

This is the most common type of trading across exchanges. It simply means buying or selling crypto on the spot market with immediate settlement. There are over 160 cryptocurrencies in the spot market. Examples are

Bitcoin futures

These are trading options that involve a legal agreement between the trader and the exchange. This consists of buying or selling Bitcoin at a specific price at a predetermined time in the future.

Can I Trade With Leverage on Changelly?

Yes, you can trade with leverage on Changelly PRO.

The highest leverage available is 10X, while for some exchange pairs, it is capped at 5X. Leverage is used in Margin trading, where traders can go long or short.

Users can use borrowed funds to increase their profit potential. For instance, a long position with 5X leverage on the ADA/BTC market means that the trader believes the price of ADA will rise compared to BTC. Every time the price of ADA goes up by 1%, the value position of the trade increases by 5%.

Please note that trading with leverage carries significant risk and may lead to the liquidation of your trading account. Therefore, as much as your profit potential multiples, your loss exposure is also high.

Beginners are advised to learn and use demo accounts before trying live trading.

What Are the Spreads?

Changelly charges either a fixed or floating rate. With the fixed rate, charges do not change irrespective of price movement in the market. On the other hand, floating rates vary depending on the market condition.

Fees for Starter accounts are fixed at 0.1%. The spread depends on a trading volume over 30 days for Trader and PRO accounts.

Fees, Limits, and Payment Options on Changelly

What Are the Deposit and Withdrawal Fees, Limits, and Speeds?

Changelly integrates with reputable third-party payment providers to give fiat to crypto services. The exchange acts as an aggregator, providing its users with the ability to compare rates and limits from fiat payment providers.

This rates and limits aggregation method is not standard among other leading exchanges like Binance and Kraken. Clients will still get charged deposit fees when using these service providers.

Deposit Methods

Unlike other exchanges that have done point-to-point integration with payment providers, Changelly uses third parties. These include:

  • Simplex – Visa, Mastercard, Bank transfer, and Apple Pay

  • Banxa – Visa, Mastercard, Bank transfer, and Apple Pay

  • Indacoin – Visa and Mastercard

  • MoonPay – Visa, Mastercard, Bank transfer, and Apple Pay

  • Coinity – Unspecified

  • Wyre – Unspecified

Various deposit methods have different speeds. Credit and debit cards are typically fast. See below a summary of KYC requirements daily, monthly limits, and fees.

Service ProviderDaily LimitMonthly limitFeesKYC requirementsSimplex$20,000$50,0001% 7%Yes, for transactions over $150Indacoin$6,000$30,0001% 7%YesMoonPayLevel I: $50Level II: $5,000Level III: $10,000Level I: $150Level II: $20,000Level III: $50,0001% 7%Yes, for level II and III purchasesBanxa$15,000$60,0001% 7%Yes

Please note the following:

  • Changelly and Indacoin charge a total fee of 10%

  • Changelly and Indacoin charge a fee of 7.5%

  • Total fees for Simplex and Banxa are not provided.

Withdrawal Methods

Crypto to fiat transactions are only available from BTC to the Euro. The minimum amount of Bitcoin you can sell is worth €250. The maximum is set at 1000 EUR, which will require basic account verification. Traders who have passed advanced verification have no set maximum limit.

On Changelly PRO, the minimal withdrawal amount starts from 0. The applied fee is primarily influenced by network fees and is charged per transaction.

You can lock withdrawal rates on Changelly. After the rate lock up, withdrawals may take a few hours for completion. However, Changelly advises a waiting period of up to three business days.

Please note that not all countries have withdrawal support. Notable absentees include Australia, Canada, and the USA.

How Much Are Changelly’s Fees and Commissions?

The Changelly PRO exchange uses a maker/taker fee model. Trading fees are determined in BTC based on a 30-day trading volume of an account. See below the fee schedule:

30-day Trading BTC volumeTaker FeeMaker Fee≥ 0 BTC0.1%0.1%≥ 5 BTC0.1%0.09%≥ 10 BTC0.09%0.08%≥ 50 BTC0.085%0.075%≥ 250 BTC0.08%0.07%≥ 500 BTC0.08%0.06%≥ 1000 BTC0.06%0.04%≥ 5,000 BTC0.06%0.03%≥ 10,000 BTC0.06%0.02%≥ 20,000 BTC0.05%0.01%≥ 50,000 BTC0.04%0%≥ 100,000 BTC0.03%0%

There are also exchange fees charged at a fixed and floating rate. You can lock the “fixed rate”, which will shield you from market price fluctuations. The fee is dynamic, and the lock is valid for only 15 minutes.

Alternatively, you can use the floating rate for crypto-to-crypto or fiat-to-crypto exchange.

The fee is charged at 0.25%.

Changelly also charges a 5% fee for crypto-to-fiat transactions.

Changelly Trade Sizes and Limits

The platform offers low minimum transaction limits. Verified accounts have no maximum limits.

The minimum trade for transactions is the equivalent of 0.0001 BTC.

Changelly Trading Platform

What Devices Can I Use Changelly On?

You can use the platform across multiple devices, both online and on mobile apps. You can use the following devices:

  • Android-based mobile phone

  • IOS phones

  • Tablet

  • PC

Some of the core features you can use on the mobile app on the go include:

  • Exchange more than 200 cryptocurrencies

  • Buy and sell crypto using a credit card, bank transfer, and Apple Pay.

  • Changelly PRO for crypto trading

  • Educational material

  • High-speed transactions

Can I Use Changelly in Any Country?

Changelly is a global exchange with a presence in countries such as the USA, UK, Australia, and Canada. Please note that currencies are converted to either GBP, USD, or EUR. However, according to the terms on their website, residents in countries such as Bangladesh, Cuba, and Iran cannot access their services. This is on top of countries on the UN sanction list.

Check with your local laws to see if you can use Changelly. Some countries like China have banned exchanges and crypto trading.

Is Changelly Available in My Language?

Changelly is available in nine languages, including:

  • English

  • Portuguese

  • German

  • Turkish

How Easy Is It to Use Changelly?

Several design attributes make Changelly easy to use. The platform has a clean and straightforward UI which makes for easy navigation.

The mobile apps mirror the web version, with the user experience transferred there as well. It is easy to set up an exchange without registration.

The platform promises ad delivers on high-speed transactions. Transactions take on average 5-30 minutes for completion.

Key Features

With the instant non-custodial exchange and Changelly PRO, this platform is packed with exciting features. Here are some of the top features

Customer support

The platform has high customer service standards with the availability of a live chat feature, an email, and a section page you could use to submit a request.

The response turnaround is impressive, with minimal complaints even on third-party review sites. This is quite different from many exchanges, with some taking weeks to respond to customers’ queries.

Margin trading and Perpetual futures

Traders can trade margins with leverage. It is possible to borrow from the exchange when you have collateral and use it for trading. The platform offers an isolated margin, meaning traders are protected from excessive risks.

Futures allow investors to trade crypto without owning it. A contract is agreed between Changelly and the trader, proving that a cryptocurrency will be bought or sold at a particular date.

High trading limits

After completing verification and using the exchange for a month, users get very high limits. First transactions are typically capped at $10,000. Subsequent transactions have no limits.

Security and Regulation

Is Changelly Safe?

The non-custodial nature of Changelly makes it avoid holding funds, therefore, avoiding being a target by hackers. Crypto assets and funds are not stored on the platform.

On the Changelly PRO exchange, traders have to set up 2FA. There are email confirmations and whitelisting of withdrawals.

We rate the service as trustworthy as there have been no previous security breaches coupled with its non-custodial nature.

Am I and My Cryptocurrency Protected?

Changelly uses third-party partners to store crypto assets. The exchange does not hold funds but uses payment providers to complete transactions.

The exchange uses an SSL certificate to encrypt data to and from the website. Additionally, each account is protected by 2FA and HTTPS protocol.

Is Changelly Regulated?

Despite a global presence, there is no mention of registration in any of the jurisdictions the exchange operates in.

Do I Have to Verify My Account With Changelly?

Verification is mandatory on Changelly PRO. Verification is divided into three categories: Starter, Trader, and Pro. This is to prevent fraudulent accounts, keep the customer base safe, and comply with international AML and KYC regulations.

Verification comes with several advantages to the trader, including increased transaction limits. Some of the documents and details you have to provide for you complete “Trader” verification include:

  • ID documentation (Government-issued ID, Driver’s license, or Passport)

  • Phone number

  • High-resolution image (a selfie)

Extra Information

Educational Resources

Changelly provides a versatile portfolio of learning resources. See below:

  • Knowledge base – Contains information about all processes on the exchange

  • FAQs – A section with the most common questions

  • Free crash course – Divided into three different categories covering beginner topics, intermediate and expert tips.

  • A blog – Discusses everything about the crypto market

  • Changelly academy – Covers a diverse range of crypto topics

Tools and Charting

There are basic trading and charting tools on Changelly PRO. The exchange uses a candlestick chart to show price movement.

There are two order types available for traders; limit and market orders. Other trading instruments include an order book and a Tradingview, which has some additional tools and indicators.

The exchange also has an API for anyone who feels they need their custom setup.

Customer Support

Changelly prides itself in its 24/7 live customer support. Clients can get help by submitting a ticket online. In addition, a live chat feature is available where you can contact the support team in real-time.

A support email is also provided, support@changelly.com, which users can utilize to get in touch with the support team. However, there are no phone numbers provided on the website.

There is a knowledge base categorized into different sections that seek to counter any questions before they get to the support team.

Clients’ responses suggest that the customer service is reliable and quick to solve issues.

How to Buy and Sell Cryptocurrency on Changelly – For exchanges

How to Buy Crypto on Changelly

Here is a step-by-step guide:

  • Step 1 - Sign up

Go on the official Changelly website and sign up for an account

  • Step 2 - Set order

Select the currency to use and enter the amount you wish to spend. Select the crypto you want to buy, e.g., BTC, and click “Buy BTC”

  • Step 3 - Choose a payment method

Select a funding provider from the list- MoonPay, Indacoin, Simplex or Banxa

  • Step 5 - Fill in your wallet address

  • Step 6 - Verify your identity

Enter your details and provide ID for KYC/AML regulation purposes

  • Step 7 - Make a deposit and start trading

Make a deposit and complete the transaction

How to Sell Crypto on Changelly

Follow these steps to sell your crypto on Changelly.

  • Step 1: Sign in to Changelly

  • Step 2: On the side menu, select sell

  • Step 3: Select the crypto you want to sell, e.g., ETH, and enter the amount to sell

  • Step 4: Confirm your phone number

  • Step 5: Click sell

Is there an alternative to crypto brokers?

Yes, there are many more ways to trade cryptocurrencies such as using cryptocurrency robots. Check out some of our reviews for the best trading robots:

Is there an alternative to Changelly?

1
Coinmama
Minimum Deposit
$100
Exclusive Promotion
User Score
9
Easy to use tool
High profit potential
Offers Phone Support
2
Coinbase
Minimum Deposit
$50
Exclusive Promotion
User Score
6
Trade and invest in over 25 cryptocurrencies
Extremely simple user interface
Over 68 million customers
3
Paybis
Minimum Deposit
$50
Exclusive Promotion
User Score
5
First transaction fee free
24/7 customer service
Instant payouts

Final Thoughts

Changelly is an instant exchange that aggregates crypto prices from different exchanges like Binance and OKEX. The company has an impressive number of partnerships, ranging from payment providers, exchanges, and wallets. This is what sets it apart from many other exchanges.

Changelly PRO is an offshoot and is custodial, allowing users to trade crypto. There are more than 160 coins and tokens available for trading. Investors can also trade in Margins with leverage and Perpetual futures.

Changelly is available globally and is an easy-to-use platform. The fees are relatively low, and the trading options are decent for beginners and intermediate users. The platform appears to maintain a high level of asset and data security, a vital consideration for any crypto investor.

Khashayar Abbasi

Khashayar Abbasi

Khashayar discovered Bitcoin back in 2014 and has since spent countless hours researching the different use cases of cryptocurrencies. He has a bachelor's degree in International Relations and has been a writer in the financial services industry for nearly half a decade. In his spare time, Khashayar enjoys photography, cycling, and ice skating.