If you are new to the cryptocurrency world, then it is necessary to acquire knowledge about a cryptocurrency wallet and exchange. It is because both wallet and exchange are the best mechanisms for storing and trading of cryptocurrencies. Now just think about a situation of holding multiple cryptocurrencies in multiple chosen wallets. Of course, you will find this situation very troublesome as it will be very time-consuming in times of need. So the best solution to be recommended in such a problematic situation is exchanging them into special digital currencies like Bitcoin. For that one needs a crypto exchange platform for trading. So today, we are going to review about Changelly.
Any crypto exchange platform, be it Bitcoin wallet exchange, must be secured and simple in its functioning to generate interest among users. That is why it draws our interest to discover about Changelly, whether it is secured, what is its fees and more importantly how to use it for crypto trading launching.
What Do You Know About Changelly?
Going by the reviews, Changelly is regarded to be the world’s best crypto exchange platform. Since it is not a custodial exchange, there is no need for deposits and holds no liquidity. In that Changelly can prove to be your ideal pick for trading. Dating back to its history, this exchange was founded in 2013, which means seven years ago. During this time, it was a mere blueprint. The credit of its foundation goes to the team of MinerGate, a very popular mining pool. Changelly began to make its influence in 2016, this is when it made its prominence as a free crypto exchange platform. Ever since this year, Changelly had gained around 2 million users. It holds a record of being taintless in terms of hackings, bugs, and frauds.
Working Of Changelly
Changelly follows a very easier way of working. Just understand that whenever there is a need for exchange of a particular quantity of digital coins into other currencies, the dealing is done at a genuine fee by this crypto exchange platform. A major feature of Changelly is that it provides a minimal transaction fee. So let us know more about its features.
Features Of Changelly
If you notice any online review about Changelly, it will mostly highlight on its features. The success of this well-known crypto exchange platform lies in it. So let us know about its promising features.
Personal Information Not Required
Not requiring any personal information in exchange for altcoins is considered the main feature of the Changelly. It only asks for the email. Now you will wonder why there is a need for an email, isn’t it? Well, there is a reason for it. For the account and transaction security, Changelly utilizes 2-factor validation. This step is helpful for the crypto exchange platform in keeping the highest security level. Moreover, the need for email is essential for monitoring the transaction data, so that recovery of the account becomes possible, in case you fail to remember your password.
Changelly tells in its official site about providing a low fee of 0,5% per trade. This indicates that whenever there is a trade between cryptocurrencies, there will be a charge of 0,5% levied to you from the trading amount. Now, this brews up a controversy that says that this does not apply to fiat currency trading. A lot of people get annoyed due to the absence of transparency and uncertain fiat fees. This is the only negative part, faced by Changelly. Because of this reason, it is rated poorly by the customers.
Like other crypto exchange platforms, Changelly also provides its users with the affiliated program, where they can actively participate after registering on the site. This program is distinctive to others, as mentioned in reviews about Changelly.
Security Review Of Changelly
If we review the security matter of Changelly, then so far, this crypto exchange platform has a good track record of being free from any hacking, scams, non-functioning, or no registration breach. In that we can be assured of Changelly, to be a secured crypto exchange.
Use Of Changelly
After knowing a lot about Changelly, now let us understand about how it is used. The first step to begin with the use of Changelly is choosing the crypto coins for trading. The crypto exchange platform provides a range of 100 altcoins to its customers for trading. After confirming the trading coins, you have to see the transaction rates, which are much speedier than 30 minutes, as stated by Changelly on its official webpage. When you are convinced with the offer of the best exchange rates for your chosen cryptocurrencies, then you need to go for registration, which is very easy and speedy.
As mentioned above, the need to begin with trading is an email address. It will ensure the fullest security for the process of trading, buying, and selling of cryptocurrencies and fiat currencies in the platform. After all the necessary steps are done, then the only thing which is left to do is payment confirmation and patience to get your altcoins. However, the process won’t be exceeding more than 30 minutes, still, if there is any problem that occurs in facing big traffic, then you need to wait a bit longer to get your coins.
So this is all about Changelly, a well-known crypto exchange platform. Always keep in mind that whenever you head for trading, it is better to find a reliable and secured exchange platform like Changelly. This will not only ensure the security of your cryptocurrencies but will also benefit in reaching faster and safely from you to another person in any part of the world. By availing Changelly services and experience of using its services, has made its customers giving a good rating to it. The only flaw for which it is being criticized is the matter with fiat currency exchange pricing. This only loophole forces its customers to give it a bad rating.