Changelly is a platform where traders can conduct seamless exchanges of digital assets. The service deals in the exchange that happens among cryptocurrencies.
Changelly located in Prague (Czech Republic)
Chagelly has emerged as one of the most popular cryptocurrency exchanges that facilitate the transfer of one cryptocurrency to another. The availability of the service is worldwide, and the headquarters of the company have been in Prague ever since the get-go. Despite the lack of fiat currency conversions, Changelly has garnered a loyal user-base. The efficiency incorporated in the exchange of cryptocurrencies is commendable. Furthermore, the website design is yet another aspect of Changelly that puts it above its competition. Another thing potential customers of Changelly would be glad to know is that even though the exchange of fiat currencies isn’t facilitated by the platforms, there isn’t any hindrance when it comes to purchasing cryptocurrencies using fiat currencies. The supported fiat currencies for the above-mentioned purpose are US dollar and Euro. Regardless, payments in more than 30 cryptocurrencies are accepted by this cryptocurrency exchange platform.
History on Changelly
Changelly is an organization that experienced its first steps as a startup. The whole adventure began in the year 2013. The people at the helm of the organization were the members of MinerGate. Later in 2014, Changelly developed into a full-fledged cryptocurrency exchange. A new team of talented individuals took the reins and continued the work that the world knows of today. Changelly has had an interesting journey during which it developed from a prototype developed by people from a mining pool to a renowned cryptocurrency exchange service. Konstantin Gladych has been the Chief Operating Officer of the company ever since Changelly’s transition to a standalone cryptocurrency exchange.
In the year 2016, the technological core of Changelly underwent critical updates. The redesigned version of the crypto exchange service was launched on the eve of International Day of Human Space Flight in 2016 itself. As of now, has no ties with MinerGate. The current version of Changelly has amassed a user base of about 2 million people all across the globe. Given the duration in which Changelly has been operational, the above-mentioned achievement deserves recognition and applause.
Changelly is an organization that has not been the same ever since its emergence. The primary ideation behind Changelly thought of it as a startup, but with the intervention of CEO Konstantin Gladych, it transformed into a full-scale cryptocurrency exchange. The team associated with the mining pool responsible for the creation of Changelly’s prototype is no longer a part of the company. A new team steered by CEO Konstantin Gladych is responsible for the functioning of Changelly.
Another thing to note about Changelly that it provides its customers with the ability to reach out to customer support as and when required. Any queries or suggestions regarding anything related to the company can be posted at email@example.com. Furthermore, due to partnerships with other exchanges, the team of Changelly extends to the respective teams of the partnered portals as well. However, a fair assessment can be made based on the fact that the streamlined design of Changelly’s website. Also, the exchange service’s efficiency speaks volumes about the capabilities of the people running everything.
How to trade on Changelly
Changelly gives you the option to convert over a 100 cryptocurrencies. The simple and intuitive interface makes it easy to execute transfers even for a layman. Before beginning the trading process, you must have an account on Changelly. Once you make your way to the site’s trader home screen, look for the dashboard. After discovering where the dashboard is, you need to make your preferred coin selection for withdrawal purposes. You can accomplish that by simply pressing the withdraw button visible right alongside the coin you select. You need not fill the address section at this point of the transaction. The same thing applies to the payment ID section as well. Thereafter, you’ll need to enter the amount you intend to convert using Changelly. You’ll also need to enter the address where you wish for the funds to go. Before going on with your transaction, make sure that you have thoroughly verified all the details. Once you do that, clicking on the confirm button will set you straight.
After pressing the confirm button, you’ll be asked to enter your payment ID as well as your Address. You can find both the details from the top section of the transaction page. Copy them to the minergate dashboard, and wait for the system to process your request. You’ll have to be patient with the website as some unanticipated reasons can cause delays. Server overload can be one such reason, but you need worry as the occurrence of such delays is extremely rare. As soon as the transaction finishes itself, you’ll be in possession of the requested coins. One important thing to note is that the above guide depicts the basic layout of a transaction on Changelly. You’ll need to keep yourself up to date with the website’s interface in order to be aware of technological changes.
Changelly does not provide its customers with specialized mobile applications. If you wish to use the service on your mobile, using the mobile website or viewing it in desktop mode is your best bet. However, some third-party apps offer Changelly integration and can be downloaded at the user’s own risk.
Smartphone apps for Changelly exist neither for Android nor for iOS. This means that if you try to find Changelly on either the android play store or the Apple app store, you won’t be able to find officials apps. However, the butter-smooth user experience of Changelly on a computer screen more than makes up for the company’s lack of dedicated mobile applications.
Create an account on Changelly
Creating an account on Changelly doesn’t require you to be a genius. Well, it wouldn’t hurt either if you are one. But, the bottom line is that creating an account on Changelly is a very easy ordeal. All you need to do is open the website, and click on the sign-up button at the top right corner. The green coloured hyperlink pops out among all the other white coloured hyperlinks. Once you click on the sign-up button, all you need to do is provide an email address. Alternatively, you can use either Google+, Facebook, or Twitter to register yourself on Changelly. However, the simple sign up process does not indicate that Changelly isn’t a secure cryptocurrency exchange.
In simpler words, Changelly requires KYC when it suspects a particular account of fishy activities. Shady transactions definitely fall under the purview of KYC norms implanted by Changelly. However, despite the lack of malice on the part of Changelly, some users get unnecessarily scrutinized because of Changelly’s slightly undefined KYC policy.
In terms of customer security and credibility, Changelly fares quite well. Every customer of Changelly enjoys 2-factor authentication facilitated by the company. Google Authenticator is also part of the security protocols embedded in Changelly’’s algorithm.
The company takes customer privacy very seriously, and thereby invalidates the sharing of client info. Things that are meant to be private are respectfully kept private. Furthermore, this cryptocurrency exchange does not store the customer’s cryptocurrencies. All the dues are transferred to the customer’s wallet in real time. The huge user-base of Changelly reinforces the fact that it is a very secure cryptocurrency exchange.
Conclusion on Changelly’s review
Changelly is a cryptocurrency exchange that has its fair share of pros. However, it cannot be said that the service provided by Changelly is perfect. Let’s sum up the good first. In terms of safety and credibility, Changelly wins the game. The easy-to-use interface provides for a seamless user experience. The highly flexible transfer limits further add to the impressiveness of Changelly. The 1st transaction does have a limit of $50, but limits only go upwards from there. In fact, after a month of using Changelly, you’re free to go as high as you want. Another good thing about Changelly is that it is a globally available service. An enormous reach like that reinforces the credibility of the platform. That is because blunders easily come to the surface when a service is available on a global scale. However, Changelly hasn’t been called out for anything corrosive to the company’s image. Now, let’s talk about the cons. The fees charged by Changelly is most definitely higher than some of its rivals out there. Another thing that can put off prospective customers from using Changelly is its lack of support for fiat money.
In today’s day and age, cryptocurrencies are having a major impact on the world of finance. Timely investments in Bitcoin have created many millionaires. Changelly stands out by providing integration with already established trading platforms. The associated platforms are Bittrex, Poloniex, and Binance. Rate suggestion happens in real time, thereby providing users with an experience where they can make the most out of the intelligent algorithm of Changelly. Accordingly, bid orders and ask orders are placed on various platforms. Customers are always provided with the best rate that is available. Another reason for Changelly to have a presence in the market is its partnerships. The core partners include Coin payments, Poloniex, Mycelium, Coinomi, Jaxx, Coinmarketcap, Binance, and Bittrex. Changelly also acts as a service that acts as an outsourced API for other wallets and cryptocurrency exchanges.