In this blog post, we shall do an exclusive Changelly Review that covers its fees, How it works and how to use it. You shall also know about the Changelly Affiliate Program. Not to miss out, some of the best Changelly Alternatives that we shall be discussing in detail here.
Changelly is a powerful inter-currency crypto exchange platform. It lets you change one crypto currency into another. This is particularly useful if you want to buy some crypto that can’t be brought using fiat currencies. A lot of altcoins fall into this category. Changelly comes to the rescue and helps you to buy your favorite altcoin.
So, if you wish to learn how to use this exchange service to convert from one currency to another. Just scroll down the entire post and get started…
How does Changelly Work ?
This is a simple program that lets you convert from one crypto to another. e.g lets say that you want to convert bitcoin or ethereum to something like siacoin that can’t be bought using the fiat currencies, changelly helps you do that. Once you have decided the currency you want to convert to, you can head over to changelly and start the conversion process. Once you start the process, changelly on the backend places the order on popular exchanges like Poloniex/Bittrex and gets the crypto converted for you.
Changelly Fees
Changelly charges a platform fees which is 0.5% of the transaction amount. The destination currency amount that you get here is same as changelly gets is from parent exchange so it doesn’t get any commission there. You get what you see with a transparent fees of 0.5%.
How to use Changelly : Steps to Follow
You must have an account on Changelly to start using it. So, do create an account before starting the conversion, otherwise you will asked about login in the middle of conversion. Once you have an account, the interface is pretty easy to use for conversion:
- Enter the amount of source Crypto Currency you want to convert. Choose the destination currency that you want to convert to. It will give you the approximate amount that you should expect to receive(this amount is subject to change as per the prevailing market scenario). Just select the source and destination currency like in figure below
- Once you have selected the source and target currencies, Click Exchange to proceed to the next screen.
- Enter the address where you want to receive your coins. This is the most important step and you must ensure to put in correct address or the coins may be lost forever.
- Once this step is done, Changelly will confirm and send the currency to the destination address.
- Thats it. Its as simple as it can get.
Supported Currencies
Changelly supports almost all crypto currencies. You can convert to a wide array of the target currencies. They support Visa and master card as well, however the fees were quite higher at the time we tested the solution.
Speed of Conversion
It takes about 5-30 minutes for conversion. Off late, there have been concerns about this exchange service being slow. However, one must consider that conversion can take more time depending upon the network congestion.
Pros and Cons
Pros:
- This exchange platform offers one of the best fees for conversion amongst altcoin converters.
- It acts as a converter as well as an exchange accepting Credit and Debit Cards.
- A friendly and super easy to use interface.
Cons:
One of cons that we found out was that the platform was taking too long time for conversion. It might be due to network congestion though.
Changelly Affiliate Program
Changelly offers a generous affiliate program. You get 50% of the exchange fees. E.g If a user converted 10000 USD worth of currency, changelly fees would be 25USD and you will get 12.5USD for the same. Doesn’t that sound good? Are you attracted to be a part of such an affiliate network.
Changelly Alternatives
Altcoin conversion is one of the most popular products out there so Changelly alternatives are quite prevelant including but not limited to :
- Shapeshift
- Altcoins.io(Launching in Jan 2018).
Conclusion
Did you like our review ? What do you think about the rising crypto-market and the growing popularity of crypto-currencies around the world ?
Disclaimer : Crypto-currency is a risky asset.Please follow due diligence and do adequate research before investing in it. This blog is for information purpose only and can’t be constituted as a professional advice in any regard.
Overall, Changelly seems to be a good platform for instant conversion amongst crypto currencies. What is your take on it ? Feel free to share your experience with Changelly in the comments section !!
