Exchange Cryptocurrency Fast & Easy with Changelly!
I've been using Changelly to swap cryptocurrency for ages now. They offer a fast and reliable service and contrary to most other exchanges, they do not outright ask you to provide AML/KYC documentation. Keep in mind that they can ask for AML/KYC details retroactively, if your transaction gets flagged by their system. In that case, your transaction is put on hold and will be sent once you've completed AML/KYC verification.
One of the key benefits when exchanging your crypto through Changelly, is that they offer a lightning fast service & support over 130 different cryptocurrencies. Changelly has been around since 2015 and have received hundreds of positive reviews on Trustpilot since then.
Start Exchanging Crypto Today with Changelly!
How Does it Work?
In order to make an exchange, you can quickly sign up via either your Google, Facebook or Twitter account. After you've done that, you can immediately make use of the handy exchange tool on the Changelly homepage.
After you've pressed the "Exchange now" button, you will be taken to a separate page where you have to enter the address to receive your coins on & a detailed summary of the exchange. Note that you can see the exact amount of fees you're charged, as well as the network fees, which are needed to complete the transaction.
Once you've reviewed all the details of your cryptocurrency swap, you can make a payment to Changelly's wallet & will receive your exchanged cryptocurrency in return. The duration of this exchange depends on how fast your transaction is confirmed by the network of the cryptocurrency you're receiving.
When your crypto exchange has been processed & confirmed, you should have received your swapped coins in your cryptocurrency wallet!
Why I Personally Use Changelly
I've used many exchanges over the years, what I like about Changelly is that there's almost no waiting time between sending one form of cryptocurrency and receiving another. It's a whole lot easier to use than some of the bigger exchanges, where you have to manually place orders in a complicated order book.
With Changelly, you can use their simple user interface to make instant swaps between many different crypto coins. They also allow you to receive coins on your Bitcoin segwit-enabled addresses, both legacy format and Bech32! That's the main feature that pushed me over the edge, since a lot of exchanges still do not support this.
I also think that their fees are pretty reasonably, especially compared to similar instant-exchange services. They charge a 0.5% fee on all exchanges and they do not overcharge on network fees!
Buying cryptocurrency with fiat currency is also painless and easy, you can easily buy cryptocurrency with your credit or debit card.
Room for Improvement?
No single service is perfect and neither is Changelly. The fact that they do not outright ask you to provide AML/KYC information also has downsides. It could happen that your transaction gets flagged automatically without any wrongdoing at your end. Issues like these are fixed pretty quickly, after you've provided Changelly with the correct AML/KYC information, but this could be avoided if they let you send in that information beforehand.
Now, I have to mention that crypto-to-crypto exchanges usually happen without any problems, so you do not have to worry about this issue too much. In the end, Changelly also has to adhere to international money laundering regulations & these small bits of discomfort you might experience are a result of that. Keep in mind that any issues you might encounter are generally solved very quickly by Changelly's excellent support team.
I also have to say that it's a real pity that Changelly doesn't include Steem anymore. They did include Steem in the past, but have removed it from their exchange some time ago.
Conclusion
Changelly is the exchange for you if you just need to swap cryptocurrency fast, without any hassle. I'm a big fan of the user experience on their website and I prefer using them over many other exchanges.
Aside from offering their services to end-users, they also offer an extremely well-documented API for developers to include Changelly into their own projects.
In the end, it's up to you to decide whether you want to use Changelly as your go-to cryptocurrency exchange. I can only say that I've not regretted that decision.
Exchange Over 130 Cryptocurrencies Instantly with Changelly!
Resources Used
https://changelly.com/faq
https://changelly.com/blog/changelly-january-digest/
Disclaimer: Cryptocurrency trading is not without risk, these are very volatile assets that can suddenly drop in value. I am not responsible for any losses you might incur.
Does they support Steem and how much commision do they eat??
Yes and no, let me explain.
They are currently one of the major advertising partners of Steemit Inc.
So in that sense, they actually do 'support' Steem.
On the other hand, Steem is not listed on their exchange, so in that sense they do not support it :P
Commissions are fair IMO, just 0.5% on each trade. They also do not overcharge on network fees!
firstly thanks for sharing. I wonder How many does it support cryptocurrency coin?
Very interesting! That is pretty cool that you can see all of the fees that they are charging you right up front. I know not all of the exchanges do that and it can be a shocker after the fact what you eventually end up with versus what you sent over. Thanks for sharing this great review! I am definitely going to have to check out Changelly in the future.
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Changelly is pretty nice but I have always found that they are more expensive than other similar options.
Of course there is shapeshift but I believe they have KYC now. Otherwise I like to use KYBER for some things as well. Sometimes I also use Blocktrades for trading STEEM even though it's more expensive than going through Binance, but I like the speed and reliability and no withdraw fees like on Binance is nice too.