Changelly is a cryptocurrency exchange service between digital currencies. The Changelly exchange service acts as a mediator between trading cryptocurrency platform and users providing a wide range of digital assets for a seamless exchange. The primary focus of Changelly is to make the exchange process transparent and easy for everyone who wants to invest in digital currencies. The service offers a wide range of digital currencies to buy and sell but does not provide conversion to or from traditional currencies. Changelly aggregates and suggests the best currency rates among the largest crypto trading platforms.
Changelly's trading algorithms are integrated into large and reputable trading platforms, such as Binance,Bittrex, Poloniex and HitBTC. Whenever a user exchanges one cryptocurrency to another, the corresponding rate is picked up and suggested to them in real time. In the span of milliseconds, Changelly correlates the amount to exchange and places bid/ask orders on the trading platforms and picks up the best rate possible.
Changelly has a very clear user-interface, and provides a quick and convenient means of buying altcoins. When purchasing crypto on Changelly the exchange rates and time of transaction are made very clear from the outset. However, the rate stated prior to the transaction being executed by the user is an estimated rate, which may not necessarily be the actual amount in crypto received, depending on the exchange rate at any given point in time (which, as we are aware, can rapidly change when it comes to crypto).
History of Exchange
The first Changelly prototype was created as a startup in 2013 by the team of MinerGate, a bitcoin mining pool. In 2014, Changelly was developed as an independent exchange service with a separate team and CEO, Konstantin Gladych. In 2016, after major technology updates, Changelly was redesigned and released on the International Day of Human Space Flight. On the 1st September, 2018 Konstantin Gladych left the company and Changelly officially announced its former COO, Ilya Bere as the Chief Executive Officer. At the same time, it was announced that the company is moving to Malta in order to get incorporated there instead of Czech Republic due to more favorable legal framework for pursuing Changelly’s agenda.
Operating ever since Changelly has attracted over 2M users from around the world. The current activity of Changelly is not linked to MinerGate and other projects related.
- Over 130 coins listed
- The best rates taken from leading trading platforms
- VISA or Mastercard bank cards to buy any of coins listed
- 24/7 live support
- High exchange limits
- The whole exchange process takes 5-30 minutes, on average.
Changelly exchange states that it charges a flat fee of 0.5% per trade. However, it also states that it offers the best exchange rates for cryptocurrency, which is a matter that is open to debate and may depend on the currency being exchanged and the time and date of the transaction. Therefore, when purchasing cryptocurrency, we would recommend that you do your research when it comes to exchange rates by checking Changelly, Shapeshift and any other exchange that you may be active on before entering into a transaction to ensure that you obtain the best rates.
Instant exchanges do not generally offer the most attractive rates, with speed being their biggest selling point. In addition, although the fiat-to-crypto option is a very convenient option, the exchange rate offered for transactions made through fiat currencies is worse than the exchange rate through crypto, which according to the developers is as a result of Changelly requiring a third party to process such transactions that result in higher fees.
Changelly Referral, Affiliate program and Customizable Widget
Changelly provides affiliate program revenue shares for registered users, from individuals to large companies and bloggers. The revenue shares imply 50% of Changelly commission fee for each transaction that is successfully made by another user via an affiliate’s referral tools (Referral link, Widget). The program runs with no time limits and leaves all affiliate rewards to a customer on a permanent basis.
One of the affiliate tools is a customizable Widget for merchants and bloggers who can place it on a website or blog. The Widget allows to exchange one crypto to another directly, without leaving the web page and accept cryptocurrency from other users and blog readers for donation or monetization purposes.
There is no information about Changelly ICO. The exchange does not have its tokens and there were not any Changelly token sale.
With gaining more prominence, Changelly exchange became a partner of a range of cryptocurrency services comprising of platforms for trading, gaming, crowdfunding and coin-tracking, wallets, merchants and crypto advisors as Charlie Shrem.
API for developers
For wallets, other exchanges and platforms, Changelly provides its API for integration. The API acts as a mechanism that allows processing in-app transactions, exchange currencies, buy goods or pay for services within a platform or application Changelly is partnered with.
For currency creators and crypto communities, Changelly provides a means to list their coin on the website. As of writing, Changelly supports over 100 cryptocurrencies available for exchanging one to any other.
Changelly – Is it safe?
All transactions being performed via Changelly require user account registration. The account registration is protected with two-factor authentication and an HTTPS security protocol. According to the European Know your customer Directives, Changelly executes anti-fraud and Anti Money Laundering|anti-money laundering procedures that require a user to provide information on the origin of funds they are exchanging to. This measure aims to prevent malicious activities on Changelly and services alike. 99,5% among all transactions are still processed anonymously.