Cryptocurrency exchange platform Changelly
What is Сhangelly
Users can trade and swap different cryptocurrencies with one another using the cryptocurrency exchange platform Changelly. The platform’s headquarters are in Prague, Czech Republic, and it was first introduced in 2015.
Users can trade over 150 cryptocurrencies on Changelly, which also provides competitive rates and cheap costs.
Changelly’s immediate exchange service, which enables customers to conduct quick and secure trades without having to register for an account or go through any laborious verification processes, is one of its special advantages.
For developers to incorporate Changelly’s services into their own apps, the company also provides an API.
The history of Сhangelly
A group of developers led by CEO Konstantin Gladych established Changelly in 2015. Without the need for complicated trading interfaces or drawn-out registration procedures, the platform was developed to offer customers a quick and easy way to swap cryptocurrencies.
Changelly initially concentrated on giving users of Bitcoin and Ethereum a simple and safe exchange experience.
However, Changelly increased the number of cryptocurrencies it offered to over 150 as the cryptocurrency industry evolved and new coins and tokens were released.
Changelly and MinerGate, a provider of mining pools, partnered in 2016 to make it simple for customers to exchange their produced coins for other cryptocurrencies via the Changelly platform.
Changelly also introduced its API later that year, allowing programmers to incorporate the platform’s exchange services into their very own applications.
Changelly’s partnerships and services grew and expanded in 2017 as well. Users can now pay with other cryptocurrencies at online retailers thanks to the platform’s partnership with payment processor CoinPayments.
Additionally, Changelly released an iOS and Android mobile app that enables users to trade cryptocurrency while on the go.
Changelly continues to be a well-liked option for cryptocurrency investors and traders today, providing a quick, secure, and user-friendly trading experience for a variety of cryptocurrencies.
How Сhangelly works
Changelly works as an intermediary between cryptocurrency exchanges and users. It enables users to exchange one cryptocurrency for another quickly and easily. Here’s how it works:
- Choose the digital currencies you want to trade: Selecting the cryptocurrency you want to exchange must come first. Over 150 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple, are supported by Changelly.
- the amount to be exchanged in: The amount of the coin you want to swap is then entered. Changelly will display an estimate of how much new bitcoin you will get in return.
- Name and wallet address Your wallet address, where you want to receive the new coin, must be provided. To prevent any typos, double-check the address.
- Validate the transaction: Review the exchange’s specifics and verify the transaction. Your deposit address for the cryptocurrency you wish to exchange will be provided by Changelly.
- Await the transaction’s conclusion: Once the transaction is complete, Changelly will begin the exchange process and deliver the new coin to your wallet address. The length of time it takes for the transaction to be completed depends on how quickly the cryptocurrency network you are trading operates and how congested the blockchain network is.
One of the unique features of Changelly is its instant exchange service, which allows users to make fast and secure exchanges without having to create an account or undergo any complicated verification procedures.
Can Сhangelly be trusted
Changelly has been operating in the cryptocurrency exchange industry for several years and has built a reputation as a reliable and trustworthy exchange platform. Here are some reasons why Changelly can be considered trustworthy:
- Security: Changelly takes the security of its users’ funds seriously and uses advanced security measures to protect its platform from hacks and cyber attacks. The platform uses two-factor authentication (2FA) to ensure that only authorized users can access their accounts.
- Transparency: Changelly is transparent about its fees and exchange rates, which are displayed upfront before you confirm the transaction. This ensures that you know exactly what you are getting before completing the exchange.
- Instant exchange: One of the unique features of Changelly is its instant exchange service, which allows users to make fast and secure exchanges without having to create an account or undergo any complicated verification procedures. This provides a convenient and efficient exchange experience.
- User reviews: Changelly has a good reputation among cryptocurrency users, with many positive reviews online. This indicates that users have had a good experience with the platform and trust it to exchange their cryptocurrencies.
Overall, Changelly can be considered a trustworthy exchange platform, but as with any cryptocurrency exchange, it’s important to take precautions to protect your funds, such as keeping your private keys safe and using 2FA.
Does Сhangelly charge a fee
For its exchange services, Changelly does indeed charge a fee. The costs might range from 0.25% to 0.5% of the transaction amount and depend on the type of cryptocurrency being traded.
Before you confirm the transaction, Changelly’s fees are openly disclosed and transparent. You can see the exact amount you will receive in the new cryptocurrency once the fees are subtracted because the fees are also included in the exchange rate that is displayed on the platform.
Changelly may charge network costs in addition to exchange fees when transferring cryptocurrencies over the blockchain network. Changelly does not collect the network fees; rather, the relevant blockchain network is responsible for charging them.
Comparing Changelly to other cryptocurrency exchange platforms, its fees are generally competitive, and its transparent fee structure guarantees that you always know exactly how much you are paying for each exchange.