Changelly Review 2024: Pros, Cons, Fees, & Is It Safe and Legit?

Changelly is one of the best crypto exchanges that enables users worldwide to instantly swap one crypto for another at low fees.

Users can buy more than 200+ crypto coins, swap over 2500 crypto pairs, and buy crypto with 100+ local fiat currencies.

Changelly doesn’t hold your coins but transfers them to an external wallet immediately after purchase.

There’s also Changelly PRO, an advanced interface that offers more trading functionality and charting tools to analyze, trade, and store crypto in a multicurrency wallet.

So, is Changelly legit?

In this Changelly review, I dive into how to use Changelly, its top features, Changelly fees, pros, cons, supported cryptocurrencies & countries, and more.

What is Changelly?

Changelly is a Hong Kong-based non-custodial crypto exchange that has been in operation since 2015. It was founded by MinerGate, a Bitcoin mining pool.

The Changelly exchange offers crypto-to-crypto exchanges and crypto purchases at the best rates on the market, and its simple, easy-to-easy interface allows users to instantly swap Bitcoin and 200+ altcoins securely.

Unlike most other exchanges, Changelly requires no registration and doesn’t impose mandatory KYC verification. That’s because it is a non-custodial exchange that doesn’t store your digital assets but sends them directly to an external software or hardware wallet.

Thus, you need your own wallet to store your coins after swapping or purchasing them on the platform.

To make it easier, Changelly partners with top wallet providers in the cryptoverse, including Binance, Trezor, Trust Wallet, Ledger, Coinomi, Exodus, ZenGo, and others.

Changelly is available worldwide in most countries, and since its launch, it has served more than 2.6 million users.

Changelly Features At a Glance

• Easy to use: Easy to use platform that offers quick registration

• Wide crypto selection: Changelly exchange supports more than 200 cryptocurrencies

• Supports many fiat currencies:  Accepts over 100 fiat currencies, including USD, CAD, EUR, GBP, AUD, and more.

• Multiple ways to buy crypto: You can buy crypto using Visa/Mastercard credit cards, bank transfers, Apple Pay, and SEPA.

• Competitive crypto-to-crypto exchange fees: Changelly partners with top crypto trading platforms to offer you the lowest crypto-to-crypto exchange rates.

• External wallet integrations: Changelly partners with wallet providers like Ledger, Exodus, Trust Wallet, Coinomi, and others to allow you to swap cryptocurrencies directly from the wallet.

• Changelly PRO: An intuitive platform with advanced trading features and charting tools to enhance your trading experience.

• Trade anonymously: There’s no mandatory Changelly KYC verification unless you want to buy crypto with fiat. Simply sign up with your email and swap coins anonymously.

• Changelly mobile app: iOS and Android crypto trading app to exchange coins on the go.

• Top security: Coins are sent directly to your wallet where you have total control of your keys.

• Changelly referral program: Get up to 50% revenue share if you invite others to trade on the platform.

Changelly PRO

Apart from the standard Changelly exchange that allows you to swap and buy crypto instantly, there is also Changelly PRO, an intuitive, full-featured trading interface with charting tools to analyze the market and trade cryptocurrencies.

It offers a quick registration process, multiple funding methods, a multi-currency wallet, and a competitive maker-taker fee schedule. Changelly PRO KYC isn’t mandatory, but you may need to verify your account to unlock more trading features.

How to use Changelly

Changelly works somewhat differently from other crypto exchanges.

Unlike exchanges like Binance, which offer custodial wallets and require you to complete KYC verifications, Changelly is a non-custodial crypto-swapping service that requires no registration.

It allows you to exchange one cryptocurrency for another just by entering your email address without the need to complete Changelly KYC.

When you buy crypto or swap coins on the platform, your digital assets are sent directly to an external wallet that you provide.

Below is a step-by-step guide on how to use Changelly:

• Choose the crypto pair you’d like to exchange. You can exchange at either a fixed or floating rate.
• Changelly will search other exchanges and display the best offer and the associated fees.
• Enter your destination wallet address where your crypto coins will be sent and the funding wallet address.
• Enter your email address to sign up or Log in to your Changelly account
• Confirm the transaction. Your coins will be sent to your wallet within a few minutes, usually an average of 24-40 minutes.

Crypto assets on Changelly

Changelly supports 200+ cryptocurrencies, over 2500+ exchange pairs, and over 100+ fiat currencies. Popular cryptocurrencies on Changelly include

• Bitcoin
• Ethereum
• Stellar
• Dogecoin
• USD Tether
• Binance Coin
• Litecoin
• Ripple
• Aave
• Alchemy
• FirstBlood
• 1inch
• The Abyss
• AC Milan Fan Token
• Cardano
• Algorand

Changelly Fees

Changelly fees vary based on the platform you’re using. The standard Changelly exchange charges flat fees of 0.25%, but you’ll also incur network fees to process your transaction.

You can choose between floating and fixed rates. With the floating rate, the amount of crypto you receive may change if the coin’s price fluctuates before the transaction is finalized.

With a fixed rate, you get the exact amount of crypto displayed by the Changelly calculator.

Changelly Pro uses a maker-taker fee structure, and fees are tiered into 12 levels based on your 30-day trading volume.

Maker fees start at 0.1% and decrease to 0% as your 30-day trading volume increases from 0 BTC to over 100,000 BTC, while taker fees start at 0.1% and decrease to 0.03%.

Crypto deposits on Changelly PRO are free, but you’ll incur a fiat currency deposit fee of 1% to 7% based on the payment provider you choose and the funding method used. Bank transfers have the lowest deposit fees.

Since Changelly doesn’t store your coins or fiat, there are no Changelly withdrawal fees.

Changelly Pros & Cons

Pros

• It is an easy-to-use exchange platform with a mobile app to trade on the go.
• Changelly exchange supports over 200 cryptocurrencies.
• Changelly partners with other exchange wallets to make crypto trading easy.
• Charges low fees for crypto-to-crypto exchange.

Cons 

• High fees for fiat-to-crypto trades.
• The lack of mandatory KYC verification may raise transparency issues

Changelly Referral Program

The Changelly referral program gives up to 50% revenue share if you refer others to trade or swap coins on the platform.

To become a Changelly affiliate, you’ll first need to create an account to access Changelly affiliate tools, including widgets, buttons, referral links, and banners from your dashboard.

Then share your Changelly referral link, widget, or banner with your friends on social media or your website.

You’ll receive up to 0.125% of the turnover on all crypto-to-crypto transactions and up to 2% of the turnover on all fiat-to-crypto transactions made by your invitees.

Changelly Supported Countries

Changelly is available worldwide in many countries except:

• Cuba
• Iran
• Crimea
• Sudan
• North Korea
• Syria
• Bolivia
• Bangladesh
• United States

Is Changelly Safe?

Yes, Changelly is a safe and secure crypto exchange

First, the standard Changelly exchange doesn’t store digital assets on its servers but sends coins directly to your wallet, where you have total control of your keys. Thus, the security of your crypto is in your hands.

Changelly PRO offers a multicurrency wallet where you can store your crypto when trading on the platform, which is protected with 2FA, email confirmations, and a whitelist for withdrawals.

Changelly vs CoinSmart

Changelly supports more crypto and fiat currencies than CoinSmart. While CoinSmart supports only 16 cryptocurrencies and about 5 fiat currencies, Changelly supports 200+ crypto coins and over 100 fiat currencies.

Changelly’s exchange fee of 0.25% and Pro fees of 0.1% and below are slightly lower than CoinSmart fees, which range between 0.20% and 0.3%.

That said, CoinSmart is a great option for buying crypto with fiat as it charges a low funding fee of 0% to 1.5% compared to Changelly’s fiat-to-crypto fees, which may run up to 7%.

Learn more in this review of CoinSmart and how to get a $50 bonus.

Changelly vs Coinbase

Changelly offers a wide selection of 200+ cryptocurrencies vs Coinbase’s 100+ crypto coins.

Again, Changelly offers more competitive fees starting at 0.1% on Changelly Pro, and a flat fee of 0.25% on Changelly exchange, which is cheaper compared to Coinbase’s Pro fees that start at 0.5%.

That said, Coinbase offers more crypto services than Changelly, and is great for crypto traders in the US and beyond, while Changelly works well for non-US residents.

This Coinbase review provides more details.

Changelly vs Binance

Binance is a one-stop crypto hub that offers many crypto services and advanced trading features and tools compared to Changelly.

The Binance exchange supports 600+ cryptocurrencies vs Changelly’s 200+ coins.

Both platforms are available worldwide and offer competitive maker-taker fees, starting at 0.1% and below.

Binance is great for buying crypto with fiat and accessing all manner of crypto services. But if you want to quickly swap crypto coins easily and quickly, Changelly is a good choice.

Related:

• Coinbase Alternatives
• How And Where To Buy Avalanche
• Best Binance Alternatives

Disclaimer: Cryptocurrency is a volatile and speculative investment. If you decide to invest, we recommend you do your own research and only commit funds you can afford to lose. The author may own one or more of the crypto assets mentioned in this article.