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ChangellyReview

Our Verdict

Changelly is a global cryptocurrency exchange that aggregates various payment gateways. It operates in over 200 countries and offers 500+ cryptocurrencies. It features two modes: Basic and Pro, each with different assets, security measures, and even fund storage.

Changelly Basic has a light, user-friendly interface for non-custodial crypto switching, ideal for beginners. Its numerous fiat payment gateways simplify the process for new users.

The Pro Version caters to professional traders with sophisticated strategies. It functions as a classic centralized exchange with full custody of assets.

This hybrid platform combines centralized and decentralized solutions, appealing to both casual and advanced traders.

With a wide variety of trading pairs and the simplicity of transactions, Changelly is a good choice for casual traders. Its extensive range of fiat payment methods makes it an ideal solution for crypto novices. Besides, its non-custodial approach can appeal to investors who prefer to avoid centralized exchanges and make all transactions across their own wallets.

Changelly Pros and Cons

Pros Cons
  • 500+ tradeable assets
  • 1,000+ trading pairs
  • 200+ countries supported
  • Self-custodial solution
  • High-quality customer service
  • Comprehensive FAQ section
  • Low ratings from independent crypto evaluators
  • Hidden fees and charges
  • Geographical limitations for crypto-to-fiat transactions

Is Changelly Right for You?

Not all traders are the same. Some seek easy apps for trading on the go, while others look for advanced features like leverage or social trading. When reviewing exchanges, we cater to all types of traders, from beginners to advanced. We divided all traders into seven main target groups.

Our thorough yet straightforward method ensures a clear understanding of trading strategies and their requirements. By assessing, ranking, and recording key factors, we determine how well the exchange meets the needs of each target group. We use three types of rankings: perfect match, good choice, and not recommended. Here’s our verdict:

Casual Traders: Acceptable choice

Changelly Basic is an acceptable choice for casual traders like me. It works well for those who want to quickly exchange assets without having to register on centralized exchanges and who aren’t concerned about the exchange rate. Unlike its rivals, both the Pro and Basic versions of the platform do not require KYC, making the onboarding smoother. Despite lacking standard security measures, its non-custodial approach contributes to its high security. During my tests, I quickly switched between two cryptocurrencies on different blockchains using non-custodial wallets.

Pros Cons
  • A huge variety of trading pairs
  • Light and user-friendly interface
  • A simple method for converting crypto
  • Low ratings from independent crypto evaluators
  • Hidden fees and charges

Day Traders: Acceptable choice

Changelly Pro is an acceptable choice for day traders who rely on candlestick graphs and various analytical tools. Integration with TradingView allows for market analysis within the app. However, the platform has a relatively small selection of trading pairs and low liquidity for about half of them. During my tests, I navigated the platform quickly thanks to its standard trading layout. The fees were average, while the level of security was relatively high, as the Pro version offers measures such as 2FA and a physical security key.

Pros Cons
  • Tradingview integration
  • Fast order execution
  • A small number of tradeable assets
  • Low ratings from independent crypto evaluators
  • Low liquidity

We don’t recommend using Changelly for hodling. Although the platform supports a huge variety of assets, it doesn’t provide any tools for passive income like lending or staking. Hidden fees and poor exchange rates make it unsuitable for position traders. However, its friendly and efficient customer service may still attract novices needing help purchasing crypto. Also, the fact that the platform has never been hacked speaks in favor of its security.

Pros Cons
  • A huge choice of tradeable assets
  • A referral program
  • Efficient customer service
  • No tools for passive income in crypto
  • No welcome offers and signup bonuses
  • Hidden fees 
  • Low ratings from independent crypto evaluators

Leverage & Derivatives Trading: Perfect Match

Changelly is a perfect match for those interested in leverage and derivatives trading. Although its selection of available contracts is smaller compared to larger CEXes like Binance or OKX, it offers high leverage. The app’s Pro version provides futures with leverage between 50x and 100x, and margin trading leverage ranges from 3x to 25x depending on the asset. This makes Changelly Pro suitable for investors looking to diversify their portfolios with riskier assets.

Pros Cons
  • Leverage up to 100x on futures
  • Leverage up to 25x on margin trading
  • A broad choice of order types
  • A small selection of contracts
  • Low liquidity for some of the trading pairs

Changelly is not recommended for auto, social, or copy trading, as the platform doesn’t offer advanced functionality for these types of trading.

Changelly is not recommended for algorithmic trading since the platform doesn’t offer any bots or other tools for automating trading strategies.

Changelly is not recommended for a Dollar-Cost-Averaging (DCA) strategy as it lacks the functionality for automating this process.

Supported Countries and Regions

As Changelly aggregates various fiat payment gateways such as Simplex and MoonPay, it can serve users from 200+ countries, including the US. This approach helps Changelly outperform competitors who face local regulatory limitations with their payment solutions.

The method is not ideal, though. Partners of the platform have their own geographical restrictions and may reject customers due to citizenship or debts, potentially leading to worse exchange rates. Each payment method has its own set of restricted regions. For example, Switchere doesn’t operate in Botswana and Panama, while Simplex and other payment providers support these regions.

The full list of limitations is available in the section “Where are your services available?” on a corresponding FAQ page. For the most relevant information, I recommend checking the respective pages on the websites of Changelly’s partners.

Changelly Bonuses and Special Offers

Changelly does not offer any welcome bonuses or sign-up rewards for new users.

The only way to earn additional income beyond trading is through its perpetual referral program. This program allows users to earn up to 50% RevShare on crypto transactions made by their referred friends. The platform provides widgets like buttons and referral links.

Changelly offers many different widgets and tools for those who wish to participate in its referral program
Changelly offers many different widgets and tools for those who wish to participate in its referral program

Additionally, Changelly offers CPI, CPA, and hybrid earning programs for marketers, webmasters, and advertising specialists. The rates for these programs are negotiated individually with each affiliate. To participate, users must create a dedicated account and provide links to their traffic sources.

During my testing, I attempted to join this program, but unfortunately, my application was declined.

To participate in the hybrid earning program on Changelly, you must provide the links to your traffic sources upon registration
To participate in the hybrid earning program on Changelly, you must provide the links to your traffic sources upon registration

Changelly Background

Establishment: Changelly was founded in 2015, with its headquarters in Kingstown, St. Vincent, and the Grenadines. Like other Caribbean islands, this one is known for registering startups with questionable reputations. This may be a concern for those who plan to exchange large sums of crypto on the platform.

Leadership: External sources claim that Changelly was founded by Konstantin Gladych, who is currently the CEO of Atomic Wallet. However, the official website neither confirms this nor provides information about the CEO or other key members of the platform.

Security & Transparency

Changelly is a non-custodial exchange. This means that it doesn’t have access to users’ assets, making it possible to store and exchange them directly between personal wallets. Since its launch in 2015, Changelly has never been hacked, which highlights its security.

However, the platform lacks many industry-standard security measures, such as Proof of Reserves and insurance for customers’ assets. It also does not have mandatory KYC. Nevertheless, in my opinion, its non-custodial nature and unblemished security record make it a relatively safe option for trading.

Changelly Security Overview Details
PoR None
Insurance None
KYC Verification KYC is not required
Security Audits None
Account Security 2FA in the desktop version, self-custodial wallets

Verified Trusted Scores

Changelly has a low ranking when it comes to security, likely due to the absence of industry-standard security measures.

Ranking Score 
Coinmarketcap 4.4
Skynet.certik.com No data
Cer.live D
Coingecko 5
CryptoCompare No data

Cyber Security Measures: Changelly doesn’t offer deposit insurance or Proof of Reserves. For users’ protection, only 2FA is available in the desktop version, while the mobile app lacks even that.

General Reliability: There is no active bug bounty program, and there has never been one in the past.

Know You Customer (KYC)

The basic version of Changelly doesn’t require customers to pass KYC. According to its FAQ section, KYC is only occasionally requested if the platform’s risk-scoring algorithms detect suspicious activities. Transfer limits are imposed by the payment gateways aggregated within Changelly’s service, not by Changelly itself.

Changelly Pro has three levels of verification, each offering different features. Users can refer to the platform’s detailed table for specifics on the features and requirements for each verification level.

Available features Level: Starter Level: Trader Level: Pro
Verification is required No Yes Yes
Daily withdrawal limit 1 BTC 50 BTC Unlimited
Monthly withdrawal limit 5 BTC 500 BTC Unlimited
Negotiable fees No No Yes
Dedicated account manager No No Yes

Is Changelly Safe to Trade With?

Changelly doesn’t have a license from any of the major financial bodies, like the FCA, which is certainly a drawback. However, it doesn’t need one since it doesn’t hold any customer funds. The licensing responsibility falls on the fiat gateways within its interface.

The platform’s non-custodial nature makes security measures, such as Proof of Reserves, irrelevant. In my opinion, the platform is more secure than other reputable centralized exchanges like KuCoin or OKX. Its clean history with no security breaches supports this view.

Despite this, third-party platforms rate Changelly low due to its opaque corporate structure and limited cybersecurity measures.

Trading Experience

Acting as a mix of centralized and decentralized exchange, Changelly has two modes: Basic and Pro. The Basic version, available on both desktop and mobile, features intuitive interfaces for beginners and casual traders. It enables users to exchange crypto between their own wallets in a decentralized manner without giving up custody over their funds.

Such an approach makes the exchange process quite secure as it eliminates the counterparty risks inherent to centralized platforms. However, it also increases the complexity as users have to deal with personal crypto wallets and take care of the security of their funds themselves.

The Pro version, available only on desktop, represents a classic CEX offering exchange convenience and full control over wallets and private keys. It features a more complex interface and a standard set of trading tools for professionals, similar to Binance and KuCoin.

During my tests, I primarily worked with the Basic version since this is the primary product that the Changelly team focuses on. The platform performed well, with transactions going smoothly, though not instantly. Changelly doesn’t have a central hub and allows users to exchange crypto in a non-custodial manner. Due to the limitations of the underlying blockchains, it extends the time needed for transaction confirmation.

Trading options and additional features Availability
Conditional orders
  • Limit Order
  • Stop Loss
  • Stop Loss Limit
  • Take Profit
  • Take Profit Limit
  • GTC (Good-till-Canceled)
  • IOC (Immediate-or-Cancel)
  • GTD (Good-till-Date)
Derivatives Trading Yes
Lending & Borrowing No 
Leverage Trading Yes
Staking  No 
Copy/Social Trading No 
Tradingview.com Integration Yes
Auto Trading (Bots) No 
API Access  Yes 
P2P Trading No 
Demo account No 
Token Launchpad No
NFT Marketplace No

Trading Test

For our trading test, we thoroughly evaluated both Changelly Basic and Changelly Pro. Our process included signing up, completing the KYC (Know Your Customer) verification, logging in, depositing funds, and making withdrawals. We also tested the trading functionalities by exploring different trading pairs and conversions and assessed the associated fees for transfers and withdrawals. This comprehensive test allows us to provide an informed and reliable review of the exchange’s usability, features, and actual costs. Here’s our verdict:

Step 1: Setting Up and Funding Your Account

Creating a new account on Changelly is easy. You can sign up with your email address or conveniently integrate with Google, which I opted for during my tests. Plus, the platform didn’t require any KYC, making the process even simpler.

 

The signup procedure is pretty straightforward and convenient on Changelly
The signup procedure is pretty straightforward and convenient on Changelly

Since Changelly is a non-custodial platform, it doesn’t provide a central hub for depositing assets. Instead, it integrates a plethora of fiat payment gateways for purchasing crypto, with the assets remaining in your own wallet.

It surely simplifies the process, but the exchange rate is not the best. During my tests, I tried purchasing USDT with a bank card. Of all the payment solutions aggregated by the platform, Simplex offered the best rate, 92.7 USDT for depositing $100. Compared to centralized exchanges like Binance and KuCoin, the fee for fiat-to-crypto conversion is quite high.

Out of curiosity, I tested larger sums. The rates improved slightly, but not significantly: 933 USDT for $1,000 and 9,360 USDT for $10,000.

Simplex offered the best rate for purchasing USDT
Simplex offered the best rate for purchasing USDT

In the next step of the purchase, the service redirected me to the Simplex checkout page, where I was required to provide my card details. Since I selected the Ethereum network, it took a couple of minutes for the funds to arrive in my wallet. The amount I received was exactly what the service declared, with no additional fees or charges.

Step 2: Trading

Having gained some ether in my Metamask, I tried to exchange it for LTC. Once again, the rate was not the best. Changelly offered 1.41 LTC for 100 USDT, while the average rate at CoinMarketCap was 1.47 at that moment. Another unpleasant surprise awaited me at the next step when I was prompted to provide my wallet address. When trying to exchange less than $96 worth of crypto, the service automatically specifies the floating rate that may change due to market conditions.

The final exchange rate may be different for small sums
The final exchange rate may be different for small sums

To finalize the transaction, the service provided me with its own address to send funds from my personal wallet. This seemed suspicious, as it implies a centralized hub for exchanging funds, while the service doesn’t provide any information about it anywhere.

Changelly provides its own wallet address for exchanging funds
Changelly provides its own wallet address for exchanging funds

Nevertheless, I decided to take a risk. I copied the provided address and sent funds from my Metamask. Once I did that, the page reloaded and displayed the status of the exchange process.

Changelly displays the status of the transaction to help its users keep abreast
Changelly displays the status of the transaction to help its users keep abreast

When the final stage of the transaction, “Sending funds to your wallet,” was complete, LTC showed up in my TrustWallet. The whole transaction took about 20 minutes.

In addition to the bad exchange rate, there was also a network fee. So the final sum was even lower than declared on the website.

Step 3: Withdrawal and Review

Since Changelly doesn’t have a central hub for storing crypto, users can exchange funds directly between their own wallets. After performing a test transaction, I didn’t need to withdraw any funds, as they arrived directly in my personal wallet.

From my perspective, this approach is convenient, removing the hassle of deposits and withdrawals typical of large centralized exchanges. It also ensures the security of my funds, as they are not exposed to counterparty risks.

Desktop Version: Basic

In this section, I tested the desktop version of Changelly. This solution is ideal for beginners thanks to its user-friendly interface and simplified approach to crypto. As I was performing my tests in the Chrome browser, I enjoyed the smooth experience that the platform provided.

Experienced traders seeking advanced tools won’t find them here. Changelly focuses on simplicity, removing extra tools and features to make crypto accessible to everyone.

Changelly strives to make the process of exchanging crypto smooth and simple cutting off all the unnecessary tools and features
Changelly strives to make the process of exchanging crypto smooth and simple cutting off all the unnecessary tools and features

Changelly enables users to perform four key activities:

  • Exchange cryptocurrencies through an OTC (Over-the-counter) desk
  • Buy and sell crypto for cash
  • Perform DeFi swaps within the most popular networks like Ethereum or Polygon.

Exchange crypto: Changelly supports over 500 crypto assets for direct exchanges, simplifying the process for exotic assets. No KYC is required, but exchange rates are often worse than traditional CEXes.

Changelly makes the process of exchanging exotic coins smooth and easy
Changelly makes the process of exchanging exotic coins smooth and easy

Buy crypto: As Changelly aggregates many different payment gateways like Banxa, Simplex, and MoonPay, it removes geographical limitations and enables users from practically any part of the world to buy crypto for fiat. Thus, it offers more than 80 different fiat currencies to choose from.

Changelly supports a huge variety of fiat currencies, making crypto available to the citizens of practically any region
Changelly supports a huge variety of fiat currencies, making crypto available to the citizens of practically any region

Sell crypto: Partnered with Mercuryo, allows withdrawing crypto to bank cards. During my tests, I was able to withdraw crypto directly to my bank card in a few steps that involved passing a simple KYC procedure. This method has a few downsides, including lower exchange rates, opaque fees, and limited withdrawal methods.

Changelly relies on its partner Mercuryo to conduct crypto-to-fiat transactions
Changelly relies on its partner Mercuryo to conduct crypto-to-fiat transactions

DeFi Swaps: In addition to cross-chain transactions, Changelly offers a DeFi swap that operates with tokens residing on the same blockchain only. It aggregates DEXes to find the best peer-to-peer rates.

Changelly DeFi swap makes it possible to switch crypto within a single blockchain
Changelly DeFi swap makes it possible to switch crypto within a single blockchain

Third-Party Sign-in: Creating an account using Google or email is easy and convenient. During my tests, I selected email and had no issues logging into the service afterward.

On Changelly, you may sign up with your Google account or an email residing on any other system
On Changelly, you may sign up with your Google account or an email residing on any other system

Search Functionality: Whether you exchange crypto through an OTC or make a DeFi swap, a user-friendly search to find assets by name or ticker simplifies the exchange process.

If you don’t remember the ticker of the coin you want to switch, you can find it by typing its name
If you don’t remember the ticker of the coin you want to switch, you can find it by typing its name

Wallet Protection Measures: Prevents sending coins to a non-existent wallet address by warning users of typos.

On Changelly, it’s impossible to lose your funds by making a typo in a wallet address
On Changelly, it’s impossible to lose your funds by making a typo in a wallet address

Saved addresses: Changelly doesn’t offer an explicit option to save trusted addresses for future transactions. However, I was able to select a recently used address upon purchase, even though I hadn’t conducted any actual transactions at that time.

Recently used addresses can be selected for transactions within the same blockchain (e.g., Ethereum). There is no explicit option to save, edit, or remove trusted addresses.

On Changelly, you can use recent addresses for repeated purchases
On Changelly, you can use recent addresses for repeated purchases

Tools for active traders: Since Changelly Basic focuses on the simplicity of the exchange process, it doesn’t offer any specific tools like technical indicators or charting.

Desktop Version: Pro

In contrast to the basic version, Changelly Pro is a classic centralized exchange with full custody over users’ assets. The platform caters to advanced traders with broader tools and features, and it is available in desktop mode only.

It follows industry best practices and provides users with a standard trading layout that includes a candlestick graph, order book, and the latest trades.

Tools for Active Traders Availability
Order book depth Yes
Advanced charting Yes
Technical indicators More than 13 technical indicators 
Drawing Tools Yes
Watch list  Yes
MetaTrader 4/5 Support No
Changelly Pro offers a standard layout with various tools and features for professional traders
Changelly Pro offers a standard layout with various tools and features for professional traders

To make use of Changelly Pro, a separate account must be created. The signup process doesn’t support any third-party integrations, it is only possible to register on the platform by providing your email and password.

Changelly Pro requires creating a separate account
Changelly Pro requires creating a separate account

Charts: Integrated with TradingView, it offers a plethora of analytical tools. Also features a basic candlestick graph with no additional trading analysis features.

Navigation ease: Navigating Changelly Pro was straightforward due to its standard layout. To perform a trade, I simply searched for the pair using Coin Search, specified the order type, and filled in the price and sum. The exchange was smooth and quick.

Thanks to a standard layout, placing an order on Changelly Pro is quite easy
Thanks to a standard layout, placing an order on Changelly Pro is quite easy

Deposits: Offers two deposit methods: send assets from an external wallet to the specified address, or buy crypto with a bank card via Banxa. Deposit limits differ from the basic version.

Changelly Pro has different deposit limits compared to the basic version
Changelly Pro has different deposit limits compared to the basic version

Tradeable assets: Changelly Pro supports fewer assets and trading pairs compared to the basic version. It offers less than 50 cryptocurrencies, tradable against BTC, USDT, ETH, DAI, and USDT. What’s more, about half of these assets have little to no liquidity.

Many of the trading pairs on Changelly Pro have little to no liquidity
Many of the trading pairs on Changelly Pro have little to no liquidity

The Order book: The standard order book shows buy and sell orders with prices and sums. The layout has the sell orders on the right of the buy orders.

The Order Book on Changelly Pro shows standard buy and sell orders
The Order Book on Changelly Pro shows standard buy and sell orders

Coin Search: The coin search functionality allowed me to quickly find the assets I was interested in. I could also add coins to the list of my favorites for faster access by simply pressing on the star icons.

My Key Takeaways After Testing Changelly

The basic version of Changelly is ideal for novices and casual traders like myself. It simplifies the process of buying and exchanging crypto by removing unnecessary hassle.

As an OTC desk and an aggregator of DeFi platforms, Changelly is comparable to services like Shapeshift, OTC desks offered by Binance, and other centralized exchanges. However, unlike these solutions, Changelly doesn’t require KYC.

Changelly Pro is a better fit for experienced traders seeking strong analytical tools to enhance their strategies. While the platform implements a standard trading interface, the relatively small selection of coins and low liquidity for half of them are significant drawbacks.

Mobile App

Changelly’s app, the mobile version of the basic desktop mode, is available for iOS and Android, with an APK download link provided on the website. The mobile app offers mostly the same set of tools and features, with a few additional options not available on the desktop.

Changelly mobile app mostly copies all the features of the desktop version
Changelly mobile app mostly copies all the features of the desktop version

During my tests, I didn’t find standard security measures like biometric authentication or an anti-phishing code. However, Recent Addresses and Saved Addresses are available for protecting funds.

The Watchlist feature provides traders with a convenient method of monitoring their favorite assets
The Watchlist feature provides traders with a convenient method of monitoring their favorite assets
Changelly App Main Features Availability
Coin Search Search field functionality is simple yet convenient, helping users find the coins they want to exchange.
Watchlist management Available in the mobile version only
Quick exchange Quick swap between any coins, as well as buy and sell them for fiat
Market Discovery Market news, popular coins, new listings, top gainers and losers.
History of Transactions The history of transactions covers all trades, including expired ones
Alerts No alerts for the price changes
Changelly Mobile App keeps the history of all transactions, including those that have expired
Changelly Mobile App keeps the history of all transactions, including those that have expired

My Key Takeaways After Testing Changelly on Changelly Mobile

The mobile version is just as clean and user-friendly as the desktop app. While the functionality is basically the same, I’ve discovered a few additional options — enhanced market discovery features came as a nice surprise to me.

Compared with the mobile applications of other fully centralized exchanges like OKX or KuCoin, Changelly is much simplier and intuitive. Overall, the mobile app is good for crypto novices.

Fees

Changelly Pro offers a more transparent fee structure compared to the basic version. For this review, we will focus on the fees associated with Changelly Pro.

The fees on the platform are below the industry average.

  • Spot: 0.1% maker/taker
  • Futures: 0.02% maker and 0.055% taker
  • Options: 0.02% maker/taker

There’s no way to reduce fees except by increasing trading volumes. Changelly Pro doesn’t offer any discounts for the holders of specific tokens like other centralized exchanges like Gate.io or Huobi.

Changelly Basic Fees

The fee structure on Changelly Basic is not transparent and depends on different factors. Fiat-to-crypto transactions are determined by fiat partners, but Changelly itself does not charge any fees.

For crypto-to-crypto transactions, fees depend on the exchange method: a fixed rate involves dynamic fees to protect users from market volatility. A floating rate includes a fixed service fee of 0.25%, plus network fees. Selling crypto for fiat ensures a minimal fee of 3.95%, but the final fee depends on the selected fiat currency, the country of residence, volatility, etc.

Changelly incorporates fees into the final sum displayed to users, making it hard to estimate charges. Additionally, the platform doesn’t offer any fee discounts.

Spot Maker/Taker Fees

In our review of spot fees, we examine spot fees across three distinct tiers, focusing on the fees for different trading volumes. We focus on the essentials and potential savings through native tokens and various discount schemes. Our unique methodology provides a clear view of fee structures and how they benefit traders of all levels.

The first tier typically represents casual traders, as they don’t usually trade more than $10,000 per month, while the higher tiers often relate to more advanced traders. Using this method, we’re categorizing users not only by their trading style but also by the amount of money they spend on the exchange.

Additionally, we also compare these fees with industry standards to give a thorough perspective on each exchange’s affordability.

Pricing tier Maker/Taker Fee  Maker/Taker (Discounted)  Industry Average
Up to $10K 0.1%/0.1% 0.1%/0.1% 0.41% / 0.51%
Up to $100K 0.1%/0.1% 0.1%/0.1% 0.33% / 0.37%
Up to $500K 0.06%/0.08% 0.06%/0.08% 0.25% / 0.29%

Deposit fees

Method Fee
ACH 0%
Wire Transfer 0%
Credit/Debit Card 0%
PayPal/E-wallet  0%
Crypto  0%

As an aggregator of fiat payment gateways, Changelly doesn’t charge any additional service fees on fiat deposits. However, the fees charged by its partners may be substantial.

Withdrawal fees

Payment Method Fee for Withdrawing $10K at Changelly Basic Fee for Withdrawing $10K at Changelly Pro
ACH Not supported Not supported
Wire Transfer Not supported Not supported
Credit/Debit Card Available via Mercuryo, the fee is included in the withdrawal amount (Basic mode). Not supported
PayPal/E-wallet  Not supported Not supported
Crypto  None  Vary depending on the token/network selected

Neither Basic, nor Pro version supports traditional fiat withdrawal methods like Wire Transfer or ACH. The Basic version enables fiat withdrawals to a bank card through its partner Mercuryo. As for crypto withdrawals, the Basic mode doesn’t charge anything extra, while the fees in the Pro mode vary depending on the selected currency.

Leverage And Futures Trading Fee Rate

On Changelly Pro, futures trading fees are fixed across all tiers at 0.02% for Maker fees and 0.05% for Takers. In addition, the platform charges liquidation fees of 0.5% both for Margin Trading and Futures Trading.

Note: Please remember that fees and available methods may vary by country.

Are Changelly Fees Competitive?

While testing the Basic version of Changelly, I found it charges medium fees for exchanging assets, that align with the industry average. The lack of additional charges for fiat deposits is a nice bonus. Yet, network fees and the fees charged by its partners significantly reduce the initial deposit, leading to a poor exchange rate. The platform’s fee structure is also opaque, as it doesn’t clearly show all fees for each transaction.

Changelly Pro offers greater transparency and competitive fees, aligning with the industry average. Fees may vary, so it’s advisable to check Changelly’s official website for the latest information.

Cryptocurrencies Available on Changelly

Changelly Basic supports more than 500 trading assets. Estimating the exact number of trading pairs is challenging since the platform allows the exchange of practically any coins with each other. This flexibility gives Changelly an edge over most rivals, including custodial solutions like Binance and OKX. Additionally, startups can use Changelly’s launchpad to introduce their tokens to the crypto community through the launchpad.

As for Changelly Pro, the selection of coins is much more humble. The platform supports less than 50 assets, and more than half of the trading pairs have little to no liquidity.

The liquidity at Changelly Basic, in turn, is outstanding despite the high diversity of assets and pairs. During my tests, I tried selecting rare assets for the exchange but never faced an error, which was quite impressive.

Changelly offers sufficient liquidity even for the most rare assets
Changelly offers sufficient liquidity even for the most rare assets

On Changelly, users can trade popular assets such as LTC, ETH, and XRP, as well as niche and rare coins like Smooth Love Potion (SLP) and Basic Attention Token (BAT). New crypto projects can also list their assets, though. There is no public information about the requirements for listing a crypto asset. Applicants are asked to submit a contact form to receive a presentation detailing the crypto listing process.

To apply for a token listing on Changelly, you may only submit your contact details and get a presentation in return
To apply for a token listing on Changelly, you may only submit your contact details and get a presentation in return

Deposits & Withdrawals

Since Changelly is a non-custodial exchange, users can buy and sell crypto directly between their own wallets. Instead, the platform aggregates various fiat payment gateways, such as Simplex, Banxa, and Moonpay, helping users find the best rates for purchasing crypto. It also provides a wide choice of local fiat currencies, from USD and EUR to exotic options like the Omani Rial and Somali Shilling.

Changelly partners with Mercuryo to help its users sell crypto for fiat. The service works worldwide, including the US (except for New York and Hawaii), though there are many restricted regions.

Changelly Deposit Options

Payment Gateway Available Payment Methods
MoonPay Visa, Mastercard, Maestro, bank transfer, Apple Pay, Google Pay, SEPA, SEPA instant, UK Faster Payments, Samsung Pay
Banxa Visa, Mastercard, Apple Pay, SEPA, Sofort, Interac, NPP, Enumis, POLi, Australia Post and Newsagents, iDEAL
Switchere  Visa, Mastercard, Sofort, SEPA
Simplex Visa, Mastercard, SEPA, SWIFT, Apple Pay
Wert Visa, Mastercard, Apple Pay 

Changelly Basic relies on its partners to conduct fiat-to-crypto transactions. The list of available payment options is presented in the table above. However, I’d recommend checking the up-to-date information on the website of each payment provider separately.

Changelly doesn’t impose any minimum or maximum purchase amounts, but some transactions require a minimum amount to cover fees. For example, the minimum deposit in USD for buying BTC is $30.

For some transactions, minimum deposits are specified to cover transaction fees
For some transactions, minimum deposits are specified to cover transaction fees

I had a positive experience buying ethers for fiat on Changelly. I selected Banxa as it offered the best rate and made a purchase via a bank card. The assets arrived at my Metamask in about 5 minutes.

Changelly Withdrawal Methods

Changelly Basic conducts crypto-to-fiat transactions through its partner Mercuryo. It supports around 40 cryptocurrencies for sale. The list includes:

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Basic Attention Token (BAT)
  • Tether (USDT)

The fiat currencies available in exchange for crypto include EUR, RUB, USD, GBP, TRY, UAH, and JPY. It’s recommended to check Mercuryo’s website for up-to-date information. The minimum amount one may sell equals €25 (or equivalent in other currencies) for most crypto.

Changelly Pro, in turn, only allows crypto-to-crypto withdrawals. The fee size on this version depends on the selected currency.

Changelly Daily Withdrawal Limits

Limit type  Buying Selling
Maximum transaction amount €15,000 €2,500 
Daily Limit €30,000 N/A
Monthly limit €100,000 €30,000

Changelly Basic doesn’t impose any withdrawal limits. Its partner Mercuryo that conducts crypto-to-fiat transactions has its own limitations that are applicable to verified users only.

Customer Service

Changelly’s support is available 24/7 via live chat and a ticketing system. The Live Chat operates only in English. While the response speed was impressive, the quality was not as high. Changelly does not offer phone support, but this is not uncommon, as even the top 10 exchanges don’t always provide such a service.

During my two-week testing, I contacted support using both methods. Responses took just a few minutes in both cases, which is quite fast for the cryptocurrency industry. The support agent in the Live Chat was not very helpful, but the one who responded to my ticket via email provided the answers I needed. Compared to other centralized exchanges like KuCoin, the quality of support is much better.

Live Chat Phone Email Languages
24/7 N/A 24/7, support@changelly.com English

Changelly Customer Support Test

The customer support at Changelly responds quickly. In the Live Chat, it took about 3 minutes to connect with a live agent, who was knowledgeable and provided relevant links to the Knowledge Base.

The support agent in the Live Chat was not only fast but also helpful
The support agent in the Live Chat was not only fast but also helpful

The Live Chat support was fast and helpful. However, English was the primary language option, with Russian also available. I guess there must be more since the website seems to automatically adjust the list in accordance with users’ geographical location.

Most likely, Changelly support offers languages according to users’ location
Most likely, Changelly support offers languages according to users’ location

Testing the ticketing system, I received a response in about 15 minutes. The email answer was informative and thorough, although only two languages were offered as language options. Changelly seems to limit visible language options to avoid overwhelming users with choices.

FAQ

Is Changelly legit?

Changelly is a reliable and secure cryptocurrency exchange that has never been hacked. Users store their assets in a non-custodial format, which eliminates the counterparty risk.

Can US Citizens Use Changelly?

Yes, Changelly operates in the US. The platform aggregates various payment processors under its hood and doesn’t have custody over customers’ assets which helps it serve practically any country.

Has Changelly ever been hacked?

No, the platform has a clean record, with no successful hacking attempts since its launch. The non-custodial approach contributes to its security.

Does Changelly require KYC?

No, it doesn’t. It may occasionally request that some of its users pass the verification procedure in case suspicious activities are detected.

Can I use leverage or margin trading on Changelly?

No, Changelly doesn’t support any sophisticated trading tools. It focuses on the simplicity of exchange processes and helps non-technical people get exposed to cryptocurrencies.

Is my money safe on Changelly?

Changelly is a noon-custodial exchange. This means that it doesn’t have access to customers’ funds as they remain safely in their personal wallets.

Is Changelly regulated?

No, Changelly is not regulated by any financial authority. Since the exchange is non-custodial, it can freely operate in practically any region without external regulation.

Does Changelly offer any bonuses, welcome offers, or referral rewards to its users?

Changelly has a referral program that helps users earn up to a 50% revenue share on crypto transactions made by their friends. It also offers a hybrid earning program for marketers, webmasters, and other advertising specialists.

ChangellyUser Reviews

Rate this exchange
  • 5
    Fast and clear swap
    Kailan
  • 5
    All the experiences were in vain
    Yuggel
  • 5
    Very user-friendly service
    Rupert
  • 5
    Profitable site for your swaps
    Milana
  • 5
    Very good exchange
    Anrie
Read More Changelly User Reviews

ChangellyFeatures

Coins Available
  • Bitcoin
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  • Zcash
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  • VeChain
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  • populous
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Accepted Countries
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US Clients Accepted
Yes

Payment Method

Deposit Options
Credit Card
Withdrawal Options
Credit Card
Company Information
Exchange DetailsInfo
Headquarters CountryCzech Republic
Foundation Year2013
Typeexchange
Trading AllowedYes
Contact Information

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