What is Changelly?
More than an exchange or trading platform, Changelly is an intermediary service for cryptocurrency trading. It is a platform that has gained popularity for the type of service offered. It was founded in 2015 and, according to its website, has attracted a total of 2 million users. Changelly's interface is quite simple to understand as they are promoted as a direct service. The user simply specifies how much they want to pay and what they want to receive. Changelly calculates an approximate of what you will receive in the target cryptocurrency.
But why is it different from other services? Changelly's idea is to allow its users to access a broader portfolio of cryptocurrencies and that they can acquire them directly with their credit or debit card. It has a fairly customizable application programming interface (API) that is used by other partners such as Jaxx or CoinMarketCap. Offering unique altcoins directly in fiat money is what has made Changelly stand out and attract the attention of customers.
What cryptocurrencies can be traded on Changelly?
In addition to bitcoin - which i recommend acquiring on lower cost platforms - Changelly offers a wide list of more than 100 altcoins. This service is beneficial for those who want to operate directly and simply, but keep in mind that the price of cryptocurrencies and the transaction fee are above average.
What audience is Changelly targeting?
Changelly's graphical user interface is extremely basic and easy to understand. Thus, it can be users with basic levels of knowledge. This type of services prevents the user from having to follow a complex process which consists of acquiring a base cryptocurrency (typically bitcoin, Tether or Ethereum), sending it to another exchange and performing an operation or ‘trade’ to obtain the altcoin of interest. With Changelly, the process is simplified using fiat money with your favorite credit and debit cards.
Although the service is simple, some intermediate level users might also look for it to facilitate the process of buying altcoins. However, investors who use this platform to trade must have a certain minimum level of knowledge, since they must create a specific wallet for the currency they want to buy. Changelly does not offer a trading platform where orders with specific parameters are opened and closed. Simply specify the amount to buy for the selected digital currency. Thus, it is the equivalent of the basic Coinbase service, but it offers more cryptocurrencies and is available in more countries than the latter.
how to use changelly?
Register at Changelly
Checking in to Changelly is very fast. It is probably one of the sites to buy cryptocurrencies that requests less data to enter, In order to buy cryptocurrencies on Changelly, you must open a digital wallet with a custom address of the corresponding currency.
Establishment of an operation at Changelly
The first thing you want to do is navigate to the Changelly home page. Then, simply select the cryptocurrency you have and the one you want to exchange for it.
You will then see how much of the cryptocurrency you will get from the operation. If you are satisfied with this, click the "Change" button.
Next, you will be taken to a screen that shows the exact operation, the fee you will pay and the estimated arrival time of your cryptocurrency. Usually this is between 5 and 30 minutes. Seriously, that fast.
Enter the address of your receiving wallet
For Changelly to send you the crypto you want, you obviously have to tell them where to send it. Just enter the address of the wallet you want it to go to.
Confirm the operation
You will be asked to confirm the details of the operation. Make sure you check three times that the cryptocurrency goes to the correct wallet address. Once you are satisfied, click "confirm and make the payment".
Sending your crypto to complete the exchange
Next, you'll get a wallet address to send your cryptocurrency to. Simply send the transaction for the correct amount in a single transaction. Then relax and wait 5 to 30 minutes for your new cryptocurrency to arrive.
Congratulations: You have completed your first exchange at Changelly.
As always, it is entirely up to you whether you decide to use the Changelly bag or not. However, we can share our ideas in this regard:
Super easy and simple user interface. Changelly simplifies exchanging one cryptocurrency for another.
Quick account creation process.
Unlike other exchanges, there are no withdrawal fees.
Option to buy Bitcoin with Visa or Mastercard.
Operations are quick.
Created by the respected Minergate team.
Support could be faster.
As with most options for buying crypto with fiat, there are fairly high fees to do this.
Changelly's exchange rate is around 1.6% worse than the market average rate. This means that the total fee you are paying to use the bag is actually higher than the advertised 0.5%.
Register : HERE