- Decent level of anonymity
- Fast transactions (usually)
- Tons of cryptocurrencies supported
- Sometimes purchase (via bank card) can be confusing
- Not enough details about users privacy
- Bad cryptocurrencies rate
Founded in 2013, in the Czech Republic, Changelly has become truly popular cryptocurrency exchange. Since then it served more than 100 000 users worldwide. Changelly has an active partnership with some big names in crypto markets – Jaxx, NEM, Coinpayments, etc. The exchange was mentioned in the top magazines related to digital assets and blockchain technologies.
Changelly allows the customers to make a purchase using any debit or credit card, even with 3DS security. The exchange accepts it without any limitations by the country. However, some restrictions can come from the issuing bank.
While the platform is easy to use, site works slowly and has some bugs. Despite that, exchanges work almost instantly and take only from a few seconds to minutes for the transaction to finish.
For payments with a credit card, 5-10 minutes (some delays may occur. Cryptocurrency exchange speed depends on the selected crypto coin and confirmation process or/and the number of confirmations).
How much can user by using a card depending on the country of residence? It varies from $50 to $500 per purchase. If everything goes well, limits go away and the user is free to buy any number of cryptocurrencies almost. It’s obvious that no limits apply to cryptocurrency exchanges.
Verification process and privacy
Purchases made with a cryptocurrency doesn’t go under any KYC/AML regulations so no verification is required. Users must provide a phone number when credit or debit card is used for a purchase. Furthermore, Indacoin (cards payment processor) has their own terms and rules, so some paperwork (ID, proof of address) may be asked at any time.
However, Changelly guarantees a nice level of privacy. Sure, at some level that depends on a 3rd party.
Besides an SSL certificate, users should enable Two-Factor Authentication as well. Unfortunately, additional security depends on the user himself. So always remember to double check a receiving or a sending address.
Changelly, sadly, doesn’t have top-notch support. A support ticket is an only option at the exchange. Also, social media accounts where some of the help may be provided. They have some good accounts in very well known, high quality and rich content websites like Steemit, Reddit, Medium and GitHub. Or about a crypto topic on Bitcointalk can be reached as well.
Changelly is a great cryptocurrency exchange for crypto – crypto trades. Most noteworthy, a wide selection of different crypto assets. While purchasing with a credit or a debit card isn’t so pleasant though. Still, low fees give enough space for frequent trades and exchanges.
Unfortunately, the platform doesn’t work smoothly. In addition, cryptocurrencies rates sometimes are way too high.
Reviewed by Coinsmaniac