With over 140 coins and tokens that can be easily swapped for one another within minutes, Changelly is one of the longest-running and most flexible cryptocurrency swapping services around. They’ve built up a solid reputation over the last six years by providing dependable service and never leaving customers hanging. For those who plan on doing a lot of conversions or trading, Changelly PRO subscribers are offered access to a mobile app. Interestingly, the only countries restricted from using Changelly including the United States, its territories, and countries embargoed by the United States.
Changelly offers four different signup options: one is email and three are social media options. We recommend signing up using email, using an email address not associated with your real-life identity.
When creating a swap (using the Exchange screen), Changelly offers two different rate options: Floating Rate and Fixed Rate. If you want to make sure you will be receiving an exact amount of coins in your swap, choose Fixed Rate. If you don’t mind if the amount is a little more or less, Floating Rate is the way to go. The Exchange screen, which looks like this, is set to Floating Rate by default:
Here the screen is configured to exchange 0.1 BTC for 2.53327 ETH. This means we will be sending 0.1 BTC and Changelly is sending us (approximately) 2.53327 ETH. The exchange is being conducted at a rate of 1 BTC = 25.396 ETH. At present time, the price of BTC is $64,700 and the price of ETH is $2,500. This puts the actual exchange rate at 1 BTC = 25.88 BTC, meaning there is a 2% premium tacked on. Included in this premium are Changelly’s 0.25% exchange fee and the Ethereum gas fee, which fluctuates but is currently quite high.
If you want to exchange a much smaller amount, say 0.01 BTC, the gas fee is going to be proportionally higher. 0.01 BTC is thus converted into ETH at a lower rate, 1 BTC = 25.237 ETH, which equals a total fee of 2.5%. Changelly will pass on the savings to customers who want to receive coins with lower transaction fees, but smaller coins with low liquidity will likely result in less favorable exchange rates.
Swaps of smaller coins for another will have even lower exchange rates as sometimes multiple trades are involved behind the scenes. Generally speaking, however, it’s tough to create a trade where you will find a total fee above 5%, which renders Changelly one of the more competitive auto-swapping websites out there.
You can also buy and sell cryptocurrencies on Changelly by switching from the Exchange to the Buy or Sell tab. Changelly uses different third party payment processors for buying and selling, with the three most common fiat gateway options being credit/debit card, bank transfer, or ApplePay. This is a screenshot of a sample Buy order:
After selecting the coin you wish to purchase and entering the quantity of money you wish to spend, ePayment processors will be arranged with the best deal first. Fees are somewhat to considerably higher using this option, so we recommend sticking to crypto swaps exclusively when using Changelly.
While we have full confidence in Changelly’s trustworthiness as a company, bear in mind that purchasing crypto using an account tied to your identity will then tie that crypto to your identity, even if this information is only maintained by the third party processor.