Exchange Reviewed: Changelly, Cryptocurrency Exchange made Simple
Changelly is one of the leading and instant cryptocurrency exchange which is operating since 2015. It offers an instant cross-currency exchange and also accepts Visa/MC payments. It is important for you to know that Changelly doesn’t operate as a broker just as Coinbase. they doesn’t sell cryptocurrencies to the customer directly. Rather, it relies on partnerships with several multiple trading exchanges like Poloniex, Indacoin, HitBTC, Bittrex, Binance, eToro and others.
Changelly has made the trading process very easy for the investors who want to invest in digital currencies. They not only allow you to buy different coins straight from your credit or debit cards but they also allow you to use their website for trading purpose and submit the coin to other online wallets. Changelly claims to have an intuitive interface, the best exchange rates, and secure transactions. It indeed has a very sleek and intuitive interface. Fees are also specified visibly at the side of the transaction as displayed below:
How Does It Work?
The way Changelly works is through a robot integrated into the largest and the most significant cryptocurrency trading platform such as Bittrex, Binance Poloniex, and eToro. It’s the matter of milliseconds when the robot bids and asks on the trading platform. Then pick and suggest the best available rates. After performing this action, the best-estimated rate will be available on Changelly’s site. With this system, the user will get the best market rates when buying cryptocurrency. Changelly will display all the best possible rates. Once the investor will make the transaction, he will have a rate which could be slightly differing from the estimated one at the beginning of the transaction.
Changelly charges a flat fee of around 0.5% per trade. However, it also offers the best exchange rates for the cryptocurrency. But it is recommended to do your research before purchasing cryptocurrency when it comes to exchange rates by checking Changelly, ShapeShift and any other exchange which you might be active on before entering the transaction. Direct exchanges do not usually offer the best attractive rates, with speed being their major selling point.
Which Cryptocurrencies Does Changelly Support
Changelly supports more than 90 cryptocurrencies. It has a complete list of fully supported currencies along with the explanation of crypto in question on “Supported Currencies” page. You will find exceptionally popular cryptocurrencies on Changelly such as Bitcoin, Litecoin, Ethereum, Dash, Dogecoin, and Monero.
To buy coins on Changelly you need to create an account, which is very easily created. After you confirmed your account you can directly start buying cryptocurrencies with your debit or credit card. The website is also very user-friendly. You can use the search function to find to find a cryptocurrency of your liking very rapidly. You just need to enter the number of coins you would like to purchase and adjust the coin you would like to sell, and click “Exchange.” At this point, you must confirm the definite amount you are selling and the amount you will get, then click “Next.” See below a preview of the protocol.
The low fee and excellent features of Changelly are something which makes it a perfect network to buy and exchange digital currencies. They are supporting around 60 different digital currencies at a distinct network. Their real-time update about the coins can help you to buy the best altcoins for the investment purpose. By providing, the option to buy coins with debit and credit card has made the whole process of purchasing digital currencies very easy and fast for the investors.