Changelly Review: Instant Crypto Exchange.

By MadMaxx | Psycho Crypto | 4 Feb 2020


Looking for an instant cryptocurrency exchange, but don't want to be scammed? I know I was a few months back.

I found out about this platform: Changelly, a while back, when I was looking for a place to convert my BAT tokens to BTC. Having used Changelly for over 4 months now, I decided to write a review on it to show you exactly how to use the app and how to instantly exchange your cryptocurrencies without hassle, stress or anxiety. 

Let's get into the review.

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As I said before, Changelly is an instant cryptocurrency exchange. This simply means that you never hold your tokens on the site, so they're always safe from attacks or hacks. 

This is extremely helpful, as you can simply send your tokens from your hardware wallet directly through Changelly, exchange them for another cryptocurrency and then get them into your wallet of choice, usually in less than 30 minutes.

HOW TO USE THE CHANGELLY INSTANT EXCHANGE.

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Exchanging one cryptocurrency for another using this instant exchange is extremely easy and straight forward. Here's how it goes.

Step 1: You have to log on to Changelly.com, or download the Android or iOS app. You'll need to create an account, but there is absolutely no need for KYC or any of that stuff, another reason why I love the exchange so much.

Just input your email address, use a super secure password and you're good to go.

Step 2: Choose the cryptocurrency you want to change.

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Assuming you want to exchange BTC for ETH like in the picture below, you simply select BTC from the drop down menu of the "you send" dialog box.

Step 3: Choose the cryptocurrency you wish to receive: It's basically the same step for the you send portion, except this time you choose the cryptocurrency you want to receive. In our example above, it's ETH, so you'll select ETH from the drop down menu.

At this point, you'll notice some text at the bottom of your screen. 

The expected exchange rate is the exchange rate you are currently exchanging at. Changelly does this amazing thing where they lock in the exchange rate for you for about 48 hours. So if you don't finish off the exchange that day, you can complete it the next day at the same exchange rate. This is amazing, especially if a drop in price happens, as you won't be affected.

Next is the guaranteed amount you will be getting. I love this because Changelly guarantees that exchange rate fluctuations won't mess up your plans. What you see is what you get with Changelly.

After all that is done, you will be taken on to the next page where you will perform step 4.

Step 4: Enter your receiving address.

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This is the address you will be receiving your exchanged crypto to. It can be any wallet, but it just be for the specific token you exchanged for. Unfortunately, Changelly cannot help you if you send Bitcoin to an Ethereum address, so please be careful that you choose your correct wallet address.

You can also save addresses you wish to use in the future so you don't always have to go copying and pasting your wallet address all the time.

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After that is done, you will see a rundown of all the information you entered above. That includes your sending token and the amount, your receiving token and the amount, as well as your guaranteed exchange rate and the approximate arrival time. This time has been much less than they promised in my experience.

Step 5: Send the tokens to the wallet address you see.

After you have completed the above steps, you will be required to send the tokens you wish to exchange to the wallet address you see. There is a handy copy button there, so there is no need to manually write it down, which will lead to errors.

Simply copy that address, head to your own wallet and send the tokens there.

And that's it! After about 5-30 minutes, your tokens will automatically appear in your wallet. 

You have successfully exchanged crypto instantly!

Changelly also offers the option to see the exchange details in real time, so you can see how many confirmations are remaining before you receive your crypto.

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Now, what about fees?

Changelly charges a miniscule 0.25% of your total transaction. This is extremely small, considering the fact that the whole process is automated, and they take the risk of making sure the exchange rate is fixed. 

SOME OTHER INTERESTING FACTS ABOUT CHANGELLY.

Changelly has been operating as an instant exchange since 2015, a few years after fiat to crypto exchanges started to emerge. They have been in the game for a while, and they know how to do it right.

Changelly also offers you the option to monitor the live prices of your favourite cryptocurrencies within the app. This is amazing as you can make important decisions without leaving the app.

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Changelly also has support for over 150, cryptocurrencies including BAT, ADA and even WAVES. You can also create your own pairs, which is a feature even custodial exchanges don't give you.

Changelly is also extremely safe, as all accounts can be secured with 2FA and HTTPS encryption.

Changelly also supports cryptocurrency purchase with Fiat through Simplex, MoonPay and Indacoin. The commissions on these purchases are not set by Changelly, and are usually higher than Changelly's own commission, so it's best you check to see if you're ok with the commission set by the provider.

Changelly also has reputable brand deals with the following companies:

  • Binance
  • Jaxx
  • Exodus
  • Trezor
  • Coinomi
  • Mycelium
  • HitBTC
  • Edge
  • Coinpayments
  • Enjin
  • MEW
  • Ledger

Thess are all reputable companies, and changelly is affiliated with them.

Changelly also has support for widgets, so you can join their affiliate program, put the widget on your site and enjoy 50% of transaction costs coming from that widget!

Changelly also offers a 24 hour support through email. Now I know that may not sound like a good way to communicate. But trust me, they're really fast and very polite when answering you. And they ensure that your problem is solved completely.

Isn't this all great? Changelly is possibly the best instant exchange out there. It has an Android, as well as iOS app, and there is API support, as well as widgets that help you earn even more through the affiliate program.

Sign up here on desktop, or download the Android app or iOS app.

Thanks for reading!

Ps: Here are some pictures of my own account where I exchanges some crypto, just to show that I also use changelly extensively.

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How do you rate this article?

8


MadMaxx
MadMaxx

In the eternal quest for crypto fulfilment. I'm an obese frog on the internet, what I say most definitely isn't financial advice.


Psycho Crypto
Psycho Crypto

Fun experiments with crypto!

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