Changelly Review

Donny Gamble
March 14, 2022
4.0
Personalincome rating

Changelly is universally accepted across the board, and has a ton of features, but comes with some pretty high fees for the value that it possesses. There are plenty of crypto coins available to buy, but when you sell, you can only sell for other crypto unless you pull it out of Changelly through your cryptocurrency wallet.

changelly logo
on Changelly's website
Changelly
FEES
.5
per transaction
Minimum DEPOSIT
$50,000
PROMOTION

No current promos

Some of the links in this post are from our partners who compensate us. This may influence some of the products and services we write about and choose to review. However, this does not influence our research process and our opinions are our own. Here is how we make money.

The information provided on this page does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual.

Key Takeaways

  • No Verification: You aren’t required to verify yourself when you sign up for Changelly, so you can stay completely anonymous.
  • Limits: Depending on what country you’re in, you face some weird limitations on what you can buy; some US residents will only be able to open with $50 to buy crypto with for a limited number of days, and then that only increases gradually to $100, and it eventually releases the limit, but it’s still an odd way for them to force fees for small transactions.
  • Versatile: You can use Changelly anywhere no matter what country you’re in, opening up crypto to every person with a working wallet and internet connection.
  • Expensive: Fees can eat you in the beginning, and Changelly knows how valuable they are, so they use that value to charge higher fees (while it’s worth it for the service, it’s not ideal for beginners).

Pros & Cons

Pros
  • Excellent security
  • Universally accepted and usable in every country
  • Fast Liquidity
  • Excellent User Interface
Cons
  • Higher Fees
  • No Fiat Money

If you sign up for just about any crypto exchange, you’re required to provide specific documentation that can incriminate your identity.

Now, buying crypto isn’t bad, but isn’t the whole point to be private? Isn’t that one of the reasons we buy cryptocurrency in the first place?

Changelly is the privacy-focused crypto exchange that lets you buy crypto without the traditional forms of authentication that other sites require, so why isn’t it the top dog exchange, and why is nobody talking about it?

We funded our account, bought crypto, and went through just about every aspect of being a Changelly customer so that you wouldn’t have to.

This is everything you need to know about them before you make your account.

About Changelly

Changelly is all about bringing numerous cryptocurrency products together to make the most accessible, easy-to-use cryptocurrency exchange on the planet (and they’ve done a pretty good job of it so far).

Always on the forefront of UI/UX upgrades, reporting advancements, and including more coins than most other exchanges, Changelly is a platform for beginners and seasoned traders alike.

Product Offerings

  • Competitive Pricing: Changelly uses your last 30 days of transactions to average out the fees that it changes you, and while they can be high compared to other exchanges, it’s akin to your trading habits and not a flat rate; this means beginners won’t lose much on their first transactions.
  • Changelly Pro Dashboard: With a Pro subscription, you get access to a dashboard that offers better intuitive insight into your trading habits than the standard access that Changelly normally offers.
  • Crypto Bank Card: Offered through their partnership with Mercuryo, you can sign up for a crypto bank card that allows you to sell your cryptocurrency for cash, although this isn’t offered directly on their site.
  • Direct-to-Wallet Purchases: Changelly isn’t like other platforms, because they don’t hold onto your crypto within the platform, instead it goes straight through to your wallet so you don’t have to worry about a platform hack ruining all of your assets.

Changelly Fees

Changelly has a pretty intelligent fee structure. It’s based on your last 30 days of trading activity, rather than just being flat for everything.

The highest fee is 0.1%, or a ten of a single percent. That’s when you’re trading under 50 BTC per 340-day cycle (which is most of us).

After that, the fees gradually decrease with increased trading volume over the last 30 days. This can lower to 0.05%, or one twentieth of a percent.

It doesn't sound like much, but it’s definitely a big deal when you’re dealing with a high level of cryptocurrency.

Who is Changelly Best For?

Changelly is best for almost everyone. It’s a simple-to-use platform with excellent user interface features, and while the fees are a bit higher than some other platforms, you can still enjoy Changelly with a lower-end budget.

If you’re just starting out and all you want to contribute is around $20-100 per month, Changelly might not be the best for you. Their ideal goal is to bring in high-volume traders, which is why they offer fees the way they do.

However, with Changelly Pro, you can reap the rewards of their advanced, yet still easy-to-follow UI if you’re a hardened trader who wants more out of your cryptocurrency transactions.

Changelly FAQ's

Is Changelly safe and legit?

Yes, Changelly is one of the safest options you have for trading cryptocurrency. Because everything is done right in your wallet, you don’t have to worry about their platform being hacked.

Transactions don’t take more than about 25-40 minutes according to their website information, so the odds of anything happening to your in-progress transaction are also extremely limited.

Should you use Changelly to buy crypto?

Changelly is an excellent safe platform for buying cryptocurrency. To date, since 2015, there hasn’t been any problem with their service that we’ve seen reported. This is a good exchange.

Is Changelly good for beginners?

Changelly is good for beginners that have more than a few hundred dollars to begin using to invest in crypto

Because they have a simple-to-understand pricing structure that works off of your past transactions over the last 30 days instead of just being a flat rate (0.01% flat in the beginning, but that is measured against your trading volume as well), beginners will be fine with Changelly.

The only issue is their odd introduction that requires you to start with $50 and work your way up until the limit on your account is released. If you can’t do this, then Changelly might not be the place to start.

How does Changelly make money?

Changelly makes money off of fees relative to the transaction volume on their platform. Even at 0.05% for high-end traders, they’re still making millions of dollars off of their commission fees for the highest end (which is 150,000 BTC or higher).

Additionally, they have Changelly Pro, which is a subscription model for their professional service that also earns them money.

Does Changelly sell any of my personal information?

According to our findings, they do not sell, trade, or rent your information in the slightest. Changelly operates with Sum & Substance, and neither company will sell your personal info.

Compare to Other Exchanges

Coinbase logo
TRADING FEES
1.49%
INVESTMENT MINIMUM DEPOSIT
$0
PROMOTION
Offers $5 free bitcoin to new users
Binance logo
TRADING FEES
.1%
MINIMUM DEPOSIT
$0
PROMOTION
$100 bonus on qualifying deposit
FTX logo
TRADING FEES
0%-0.4%
MINIMUM DEPOSIT
$0
PROMOTION
5% off trading fees

Changelly

Changelly offers a safe cryptocurrency exchange that allows you to instantly buy coins like BTC, ETH, & XRP safely and securely. They take pride in being fast and secure.

  • Changelly
  • Rating: 4
  • Reviewed by:
  • On March 14, 2022
  • Last modified:March 14, 2022

Review Summary:

Changelly offers a safe cryptocurrency exchange that allows you to instantly buy coins like BTC, ETH, & XRP safely and securely. They take pride in being fast and secure.

Review of: Changelly

Reviewed by:
Rating:
4
On March 14, 2022
Last modified:March 14, 2022

Summary:

Changelly offers a safe cryptocurrency exchange that allows you to instantly buy coins like BTC, ETH, & XRP safely and securely. They take pride in being fast and secure.

About the author 

Donny Gamble

I’m Donny. I’m a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.

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