Changelly Review 2025

Our Verdict

Founded in 2015, Changelly is a non-KYC cryptocurrency exchange that offers 500+ cryptocurrencies. It operates in two modes, Basic and Pro, each designed with distinct features, security measures, and fund storage methods.

Changelly Basic has a simple interface for non-custodial crypto swaps and supports multiple fiat payment gateways, making it ideal for beginners.

Changelly Pro is tailored for experienced traders, offering advanced trading tools and a traditional centralized exchange experience with full asset custody.

Changelly Pros and Cons

Is Changelly Right for You?

Traders have different needs: some prefer simple apps for quick trades, while others seek advanced tools like leverage or social trading. We classify traders into seven main groups and assess how well exchanges meet their needs. Here’s our verdict:

Supported Countries and Regions

Changelly is a non-KYC exchange, meaning you can trade without submitting documents. It supports multiple fiat payment providers like Simplex and MoonPay, allowing users to buy crypto from almost anywhere.

However, payment partners have their own restrictions based on location, citizenship, or financial status. For example, Switchere doesn’t operate in Botswana and Panama, while Simplex does.

For a full list of restricted regions, check the “Where are your services available?” section in Changelly’s FAQ or visit the websites of its payment partners for the latest details.

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.

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.

Changelly Background

Establishment: Changelly was founded in 2015, with its headquarters in Kingstown, St. Vincent, and the Grenadines, a popular registration choice for many startups.

Leadership: Some external sources link Changelly’s founding to Konstantin Gladych, the current CEO of Atomic Wallet. However, the official website does not confirm this or provide details about its leadership team.

Security & Transparency

Verified Trusted Scores

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

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. 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.

Know You Customer (KYC)

Changelly Basic doesn’t require customers to pass KYC. Transfer limits are imposed by the payment gateways aggregated within Changelly’s service, not by Changelly itself.

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

Is Changelly Safe to Trade With?

The platform’s non-custodial nature makes security measures like Proof of Reserves irrelevant. In my view, it’s more secure than well-known centralized exchanges like KuCoin or OKX, given its clean track record with no security breaches.

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

Trading Experience

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.

Changelly doesn’t provide a central hub for depositing assets. Instead, it integrates 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.

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. 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.

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.

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.

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.

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

I tested the desktop version of Changelly. This mode is ideal for beginners thanks to its user-friendly interface. I was performing my tests in the Chrome browser, and 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 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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

My Key Takeaways After Testing 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 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.

Deposit fees

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

Basic and Pro version don’t support traditional fiat withdrawal methods like Wire Transfer or ACH. The Basic version enables fiat withdrawals to a bank card through its partner Mercuryo. Crypto withdrawals via Basic mode are free, 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.

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.

Available Cryptocurrencies

Changelly offers sufficient liquidity even for the most rare assetsOn 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.

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.

Deposits & Withdrawals

Changelly Deposit Options

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.

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

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

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.

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 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.

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