Changelly: How to exchange your cryptos instantly (Tutorial)

Have you bought bitcoins or other cryptocurrencies? Now you want to exchange them for ethereum or other altcoins? We have the solution for you: it’s Changelly.

Changelly is among the most widely used “instant” cryptocurrency exchanges. Since its inception in 2015, Changelly has over 1,5 million registered users worldwide. Currently, the site processes over 15 transactions per day and has a monthly turnover of around 000 BTC. That is to say!

With more than 90 altcoins and cryptocurrencies to trade or buy, Changelly has something to seduce. In addition, you can also buy bitcoins by credit card on Changelly. The site is highly appreciated for the speed of its fast transactions, the security of its account, the good exchange rate and its intuitive and simple interface.

In addition, as soon as we type the amount we own in a crypto, the site directly tells us the equal amount in another crypto.

Yes, it is above all for its speed and reliability that we recommend Changelly. Here is this little tutorial intended for beginners who want to buy, exchange or convert their bitcoins.

How does Changelly work?

To sum up Changelly, let's keep it simple. Let's say you have some bitcoins and you want to convert them to ethereum. So, nothing could be simpler with Changelly. Here are the simple steps:

1. You enter the amount of bitcoin you want to exchange.
2. Changelly creates an address to which you must send your bitcoins.
3. You enter the ethereum address on which you want to receive your ethereum.
4. Changelly converts your bitcoins into ethereum and sends everything to your Ethereum address
5. As simple as that!

A transaction on Changelly begins with a cryptocurrency wallet and the cryptocurrency of your choice. Based on crypto and quantity, Changelly chooses the best exchange rate from multiple exchange platforms. It converts the money into your chosen currency at the best rate, for a 0,5% fee. Finally, Changelly sends the amount to the address of your other cryptocurrency.

For those looking for more details, Changelly offers a bot integrated with the world's largest trading platforms, such as Bittrex and Poloniex. In milliseconds, this robot creates offers or requests on the platforms, then searches for the best available rate by displaying its estimate on the Changelly site. Rates are always approximate until the transaction enters the blockchain, meaning the actual rate may differ slightly.

What are Changelly’s fees?

Changelly does not set rates because cryptocurrency is volatile enough that it can fluctuate every minute. If Changelly decided to fix rates, it would have to hedge currency volatility and market risks, leading to higher commission fees. Changelly must also take into account network fees for each transaction – these are the fees charged by the relevant blockchains that go to miners for processing the transaction.

Due to these factors, unfortunately, Changelly fees may be a little higher than if you went directly to an exchange like Binance for example.

But it's so much simpler to use that we tend to forget the slightly higher fees of Changelly. In addition, it is not much more expensive than another platform while having the added reliability.

Changelly's fees are as follows:

• 0,5% commission on crypto-to-crypto transactions and exchange.
• 5% Changelly commission and 5% simplex processing fee on credit/debit card purchases. (We do not advise you to buy via this site, there are others cheaper like Coinbase)

What currencies are accepted on Changelly?

As mentioned, Changelly supports over 90 cryptocurrencies. It has a full list of supported currencies, as well as a description of the crypto in question on the “Supported Currencies” page.

There you will find well-known and extremely popular cryptocurrencies, such as Bitcoin, Litecoin, Dash, Ethereum, Dogecoin, and Monero, as well as unknown ones including XDN, BCN, FCN, NBT, NXT, FCT, and RADS. Thanks to the large list, it is very likely that Changelly supports the cryptocurrencies you want to change. There is also a form available where you can suggest adding your token to the Changelly platform. Besides, it is also a guarantee that the token is “serious”.

Do you need an account to use Changelly?

To protect user privacy, Changelly does not require the creation of an account to use its conversion services. That is, you can use it anonymously. This means that users do not need to submit personal information; they just need a valid wallet address.

Keep in mind, however, that those purchasing with a credit card may require additional verification before their purchase. Those who stick with cryptocurrency conversions clearly don't need any verification.

How to buy cryptocurrencies on Changelly?

Purchasing cryptocurrency on Changelly is a simple process, regardless of the currency you wish to purchase.

1. Go to the site and choose the cryptocurrency on the left with the drop-down menu (default setting is BTC) on which crypto you want to switch from.
2. Enter your wallet address where you want to receive the cryptocurrency.
3. You obtain the wallet address and the QR code to which you must send your cryptocurrency.
4. Once it is received, Changelly sends the converted amount to your address directly.

At any time, you can view the transaction status by viewing your transaction history. You will receive a notification once the transaction is complete, which will usually take between five and 30 minutes. It may take longer if there are network delays. At the end of the transaction, you will receive an acknowledgment containing the hash of the output transaction, which will prove that the transaction has been completed.

Remember that transactions cannot be reversed on the blockchain. It is impossible for any platform, including Changelly, to reverse a transaction. Therefore, you should always confirm all details of your transaction before sending it.

Buy cryptocurrencies with a bank card

Changelly accepts credit card payments in USD or EUR for over 35 different cryptocurrencies. As with cryptocurrency conversion, the process of purchasing crypto with your bank card is quick and easy. All VISA and Mastercard cards are accepted.

On the Changelly homepage, click on "Buy Bitcoin with Credit Card", then you just have to enter the amount of bitcoin (or other cryptocurrencies) that you want to get. There, you add your address and once the bank transaction is accepted, you will automatically receive your cryptocurrencies.

You see it will be simpler to buy bitcoins by credit card with Coinbase. You should keep in mind that Changelly is excellent for cryptocurrency trading.

How long do transactions take?

On average, a Changelly transaction will be processed within five to 30 minutes. They may take longer, in particular due to potential overhead in blockchain. Bitcoin blockchains, as well as those based on Bitcoin, will sometimes experience pending transactions. If this happens, you will just have to wait because Changelly cannot solve the problem of blockchain overload.

Are there minimum or maximum amounts on Changelly?

There is no telephone support at the moment. As with most exchanges, customer reviews on the platform are mixed, the company owns 3 out of 5 stars on TrustPilot with an array of compliments and also small complaints about slow customer support services. But, this remains completely normal. 

What is the Changelly Affiliate Program?

To encourage users to share the ease of use of Changelly, the platform offers an affiliate program. This program is very interesting. By the way, to be absolutely honest with you, we also use this program. And, we encourage you to use it yourself. Besides, when these are good services, it's always good to tell others about them.

With this affiliate program, you get 50% revenue sharing forever. Essentially, any loyal customer can sign up for the affiliate program. You will then obtain a unique referral link. When someone uses this link to register, it becomes your permanent reference. From then on, you will get 50% of Changelly's commission on all its transactions, paid in Bitcoin equivalent.

The link and the 50% commission are permanent. Instead of a link, you can also choose to introduce referrals via a widget on your website. Best of all, payment occurs within one day of request.

What tools does Changelly offer developers?

Developers wishing to take advantage of Changelly's exchange features can access the API and receive a dedicated support line. With the API you also earn an additional commission, which will be set according to your choice. Developers can also add any of the Changelly widgets to their pages, including those for referrals and an exchange widget. Or you can add a button allowing users to pay with cryptocurrencies through Changelly. For a store, it is therefore an ideal option.

Why can users trust Changelly?

Changelly gives users plenty of reasons to trust the platform. The site exchanges money instantly, so there is no need to store the deposit or trust Changelly to keep your money safe. Additionally, each account has two-factor authentication.

There are other alternatives like switcher for example, but Changelly nevertheless remains one of the oldest and most popular sites.

Conclusion and our final opinion on Changelly

Thanks to its ease of use, Changelly is an attractive exchange platform for those who want to convert their bitcoin to another cryptocurrency. As the platform does not store your money, security is less of an issue than an exchange requiring deposits and withdrawals.

Additionally, Changelly is simple to use and the option to buy cryptocurrency with a bank card is very useful for cryptocurrency newbies, but be aware of the very high fees they charge for card purchases .

There are other alternatives such as Swapin which may also be interesting for you.

Other Questions Asked

1. What is Changelly and what is it used for?

Changelly is a cryptocurrency conversion platform that allows users to easily and quickly exchange different digital currencies without having to go through several complex steps.

2. How can I use Changelly to trade cryptocurrencies?

To trade cryptocurrencies on Changelly, follow these simple steps:

• Visit the website of Changelly.
• Select the cryptocurrencies you want to trade.
• Indicate the amount you wish to exchange.
• Enter your wallet address to receive the funds.
• Follow the instructions to complete the transaction.

3. Which cryptocurrencies are supported by Changelly?

Changelly supports a wide range of cryptocurrencies, including popular ones such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and many other altcoins.

4. Are there any fees for using Changelly?

Yes, Changelly charges a service fee for each transaction. Fees vary depending on the cryptocurrencies traded and market conditions. You can review the specific fees on the transaction page before finalizing your trade.

5. How long does an exchange take on Changelly?

The time it takes to complete a transaction depends on various factors, such as network congestion of the cryptocurrency you are trading. Generally, transactions are processed quickly, but times may vary.

6. Can I use Changelly without creating an account?

Yes, Changelly offers the possibility of trading without creating an account. However, by creating an account, you benefit from certain advantages such as monitoring your transaction history and simplified management of your exchanges.

7. Does Changelly offer customer service?

Yes, Changelly offers responsive customer service. You can contact them via the contact form on their website for any questions or assistance related to your transactions.

8. Does Changelly support credit card payments?

Yes, Changelly offers the ability to purchase cryptocurrencies with a credit card. However, please note that additional fees may apply for credit card transactions.

9. Is my privacy protected when using Changelly?

Changelly takes user privacy and security very seriously. Personal information is encrypted and is not shared with third parties. See their privacy policy for more details.

10. How can I track the status of my transaction on Changelly?

After making a transaction, you can track its status using the tracking link provided on the confirmation page. You can also create an account to access a detailed history of your transactions.