What is Changelly and should you use it?

By MadMaxx | Psycho Crypto | 13 Jan 2020


Changelly, to me is magic.

Before I started keeping my BAT tokens that I earned from Brave rewards and P0x, I used Changelly to convert them to BTC to increase my portfolio size.

Simply put, Changelly is a platform that allows crypto to crypto exchange without the need to hold any crypto in the service.

One of my favourite features of Changelly is the fact that KYC isn't required, except you transact over 100BTC a day.

And the platform is extremely simple and intuitive to use. You simply download the app(for both Android and iOS), create an account with only your email(heck! You could even use your Facebook account;) and that's it. 

You're ready to start transacting.

To change one coin to another, you simply select the coin you're sending from the 'you send' menu, and select the coin you want to receive from the 'you receive' menu.

Then you send the coins you are to send to the address provided, and the algorithm does the rest, in less than 10 minutes.

And their support is awesome. I once sent XLM to the account I was told to, but didn't input the memo ID(I had no idea this was important), and my Stellar was basically stuck in the blockchain. 

I contacted support and my issue was cleared in 1 hour. 1 hour only!

And I got my ETH immediately after my ticket was resolved.

Lastly, Changelly has the option to fix the exchange rate for about 10 minutes. This means that exchange rate fluctuations won't mess with the amount of cryptocurrency you're to receive.

This is a common problem with many other crypto to crypto exchanges.

This fixed rate acts like an insurance policy against fluctuations in exchange rates.

Equally, changelly charges the smallest fees of any instant exchange I've ever used. The fee is capped at 0.2% which is just amazing since fluctuations in price could affect their business.(Pro tip: This link makes your fees 0.18%!)

With over 150 cryptocurrencies available for swapping, Changelly is,once again, magic to me.

If you're interested in using the service, sign up here. That link will save you 10% off the already tiny fees.

What are your experiences with Changelly? Do you like the exchange?

Let me know below.

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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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