Changelly Review: Cryptocurrency Trading Made Easy

| Publish date: 11/04/2018 (Last updated: December 13, 2018 08:38 AM)
Table of Contents

    Known primarily as a crypto-to-crypto exchange, Changelly is designed to be simple, efficient, and accessible for users to quickly register and exchange their cryptocurrencies or purchase cryptocurrencies with credit cards.  With very few barriers to entry, a quick registration process, and straightforward exchange mechanism, Changelly makes buying and trading cryptocurrencies an unsophisticated endeavor.

    Changelly Key Information
    Company Location: Prague, Czech Republic
    Mobile App:No
    Fiat Deposit:No
    Fiat Withdrawal:No
    Transfer Limits:$10,000 initial, $20,000 daily, $50,000 monthly
    Supported Fiat:Any Currency
    Payment Methods AcceptedCrypto-to-crypto, Credit card
    Supported Crypto:Bitcoin, Litecoin, Tether, 100+ coins
    Supported Countries:Any Country
    Fees:0.5% on purchases, 5% Changelly +5% Simplex for credit card purchases
    Website (URL):Start trading at

    Login and Signup

    Accessibility is one of Changelly’s most prominent attributes when evaluating the service.  Changelly users simply need to input their email addresses and complete the email verification process to get started.  Once completed, a second email is sent to the user with a platform password to log in.

    Once users enter the “My account” tab of the website they are able to change the password provided by Changelly by entering the old password, adding the new password and repeating it before clicking “Save”.  Additionally, this page includes the area for enabling 2-step verification to add additional security measures to the account via Google Authenticator.  There are links to download the Google Authenticator app for either iOS or Android supported devices to make the process easier.

    Finally, users can also change the email address or connect social accounts to the platform. Users can also register with popular social media accounts including Google+, Facebook, and Twitter.  All told, the entire process from start to finish takes just a few short minutes to accomplish.

    How it Works

    Users begin by selecting the cryptocurrency and amount they wish to exchange to discover the amount of another coin they can receive at current market prices. Once entered, users can view the exchange rate, the accompanying Changelly fee, and the estimated delivery time.  After agreeing to terms and conditions, users are asked to enter the wallet address for the currency they wish to receive from the trade.

    Once all the details are checked, users click “Confirm and make payment” to start the process.  A user must then send the coins they wish to exchange to the wallet address listed on the next page which is also displayed in QR code form.  Once funds are confirmed received, Changelly will update users with the progress and alert them that the purchased cryptocurrency is being delivered to the recipient address supplied by users.

    A notification is sent as soon as the transaction is completed.  The time frame for this process can vary depending on network congestion, but once confirmed, users obtain a receipt that contains the transaction hash as proof of completion.

    For users seeking to buy cryptocurrency with fiat funds, the process is slightly lengthier due to increased compliance requirements.  Users can opt to buy bitcoin, Bitcoin Cash, Litecoin, and Ethereum via credit card in either US dollars or Euros.  Using this method requires a few additional compliance steps.

    After determining the amount of fiat they wish to spend and the desired cryptocurrency, users wanting to buy crypto with a credit card must enter their first and last name, email address, mobile phone number, and date of birth along with a billing address. After agreeing to the website’s terms, users must complete the email and phone verification process.  Afterwards, a user must enter payment details before selecting “Pay now”. Coins will then be delivered to the wallet personal address specified by the user.

    Supported Countries

    Changelly’s services are available across the globe with no restrictions for any jurisdictions.  The only restrictions outlined in the company’s terms and conditions relate to age, with the minimum age required for users to participate in the platform set at 16 years.

    Supported Cryptocurrencies and Liquidity

    Changelly stands out for its support of over 100 cryptocurrencies and tokens.  Apart from major cryptocurrencies like bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, and EOS, many other popular tokens and projects are available. A full list of supported cryptocurrencies is available on the website.  Furthermore, Changelly has a listing application available on the website to add new coin listings at their discretion.

    When it comes to sourcing liquidity, Changelly deploys a robot that is connected to several other prominent exchanges including Bittrex and Poloniex. This robot puts up bids and offers for the cryptocurrency pairs that users wish to trade.  The estimated rate from available bids and offers from pairs are posted on the Changelly site, but the final price of a transaction may differ slightly from the quoted rate due to market volatility.

    Deposit/Trading/Withdrawal Fees

    The only fees that Changelly charges for crypto trades processed via its platform is the 0.50% commission they collect for facilitating the trade.  There are no withdrawal fees or deposit fees that accompany the platform apart from the fees charged by the cryptocurrency network for confirming the transactions.  Prices may vary depending on the liquidity and volatility is an omnipresent factor that all cryptocurrency traders should consider when placing a trade.

    Apart from the commission however, traders should be aware that fees are charged by cryptocurrency and token blockchains for sending coins over the network.  This means that the amount purchased may vary from the final amount that is received.

    To calculate the total cost of a trade, users should consider the network fees for the first leg of the transaction, which is selling a cryptocurrency. Once the network fees are assessed, Changelly completes the exchange. The company takes its 0.50% commission from the purchased cryptocurrency, after which the cryptocurrency’s network also takes its network fee for confirming the transaction.

    It is important to note that interested buyers should always check the network fees and suggested minimum amounts before making a trade to ensure that the overall charges do not exceed the purchase amount. If this is the case, transactions are not completed, and funds can be lost.

    For fiat purchases of cryptocurrency, the fee structure is adjusted. Buyers using a Visa or Mastercard credit card for purchases in either US dollars or Euros must pay a Changelly fee of 5.00% and a Simplex fee of 5.00% for processing the transactions.  Users may also face conversion fees from the credit card issuer to convert their local currency into either US dollars or Euros.

    Transfer Limits

    Although Changelly primarily presents itself as a crypto-to-crypto trading venue, they also allow fiat purchases of cryptocurrency.  While crypto-to-crypto transactions face no limits, individuals seeking to purchase cryptocurrency with a credit card do have ceilings on purchase amounts.

    For the first transaction, users may spend between $50 and $10,000 to purchase cryptocurrencies.  After the first transaction, the daily limit is raised to up to $20,000. On a monthly basis, users face a maximum transaction limit of up to $50,000.

    Users that want to buy cryptocurrency with a credit card are limited to purchasing bitcoin, Bitcoin Cash, Litecoin, and Ethereum.  The only other restrictions that platform users may face as far as funding limits relates to spending limits imposed by credit card issuers and issuing banks.

    Payment Methods Accepted

    Changelly focuses on facilitating crypto-to-crypto trades by providing instant quotes for exchanging one crypto for another.  To this end, the company readily enables users to transfer a wide range of cryptocurrencies, with over 100 major cryptocurrencies and tokens accepted and supported by the platform.  In addition, users wishing to purchase cryptocurrencies can transact with credit cards in either US dollars or Euros to buy either bitcoin, Bitcoin Cash, Litecoin or Ethereum.

    Security: is it Safe to Use?

    Unlike many exchanges which force users to move crypto funds and store them in the exchange wallet for trading, Changelly helps users simply facilitate trades instead of storing their funds. Furthermore, Changelly offers users two factor authentication to secure user accounts.  For users that simply intend to swap one cryptocurrency for another, Changelly requires no identifying information apart from an email address, instilling a greater sense of privacy and anonymity for users.

    For users purchasing crypto with fiat, there are additional verification steps including a selfie with the credit card being used to purchase cryptocurrencies.  However, apart from these steps, very limited personal information is required for joining and using the platform. Users must also have their own wallet for the corresponding cryptocurrency that they wish to buy to receive their funds once transactions are processed.

    Aside from security measures and limited information gathering, the site is protected with SSL and users are told to never give their private keys to their wallets to Changelly. Additionally, Changelly never stores client’s deposits. Users only store cryptocurrencies in their personal wallets, meaning that Changelly is never responsible for storing users’ cryptocurrencies, adding another layer of security and assurance.  Entering the correct wallet address and keeping private keys secure is therefore solely the responsibility of users alone.

    Company Reputation

    Since first opening its doors in 2015, Changelly boasts attracting over 2 million users, highlighting its popularity in the still-young cryptocurrency industry. Its weekly volumes remain relatively high and its wide support for a range of cryptocurrencies and tokens makes it an easy destination for users that seek a straightforward, no-nonsense crypto exchange experience. Furthermore, collaborations with Binance and other major exchanges helps add to a sense of credibility.

    However, customers have reported some poor experiences with the company during the last big run-up in cryptocurrency prices as volatility and sharp price movements resulted in executions that differed greatly from quoted prices. Furthermore, sluggish delivery due to the high traffic on cryptocurrency networks also was reported to detract from the user experience. After these high-volume periods passed, customer complaints apart from the fees for buying crypto with fiat have been very limited, helping bolster Changelly’s reputation as a fast, efficient, and straightforward service.


    By dispensing with all the bells and whistles and boiling down the platform into the simplest possible components, Changelly makes crypto an accessible endeavor for users who are less familiar with technology.  While the company has faced some complaints in the past regarding withdrawal times, most of these complaints centered on withdrawal times experienced in January 2018 when prices of many major and minor coins peaked before subsequently tumbling.  With an easy onboarding process and straightforward steps for exchanging cryptocurrencies or even purchasing them with a credit card, Changelly stands out for its ease of use and emphasis on privacy along with security of user funds.



    User Experience


    Payment Options









    • Extensive coin range
    • Great user interface
    • Beginner Friendliness
    • Low fee for crypto-to-crypto conversion
    • No personal information required


    • High fees when purchasing with Fiat
    • No Mobile App

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