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Changelly

4.5 from 190 votes
Czech Republic

Fees

Taker fee

0.5%

Maker fee

0.5%

Withdrawal fee

0

Funding methods

Wire transfer

Credit card

Other crypto

US investors permitted


Changelly Review

A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of Changelly consists of four parts: general information, fees, deposit methods and security.

General Information

Changelly is a cryptocurrency exchange headquartered in the Czech Republic. The group behind Changelly is MinerGate, which is a team with one of the longest track records on the crypto market.

Changelly is one of the absolutely best exchanges when it comes to finding the best available rates of the different trading pairs on the market.

The exchange does not forbid US-investors from trading on its exchange, but US-investors should as always do their own independent assessment of any problems arising from their residency or citizenship.

The exchange is quickly gaining attention and is currently processing around 15,000 transactions every day. On a monthly basis, the turnover is approximately 60,000 BTC. As regards users, our data suggests that it is almost 2 million registered users from across the globe.

Changelly Fees

Changelly Trading fees

The one thing we can’t stress enough is that you must always ascertain the trading fees at any exchange you are interested in. Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. Makers make the liquidity in a market. Takers are the ones who remove this liquidity by matching makers’ orders with their own. Most exchanges separate between the fees they charge takers and the fees they charge makers.

EXAMPLE:

Ingvar, offering to buy 1 BTC for USD 10,000. And Jeff, offering to sell 1 BTC for USD 11,000. If Bill comes along, and sells 1 BTC to Ingvar for USD 10,000, he takes away Ingvar’s order from the order book. Bill is here a taker and will be charged the taker fee. What if Bill instead offers to sell 1 BTC for USD 10,500? Well, in that case he places an order on the order book that does not correspond to an existing order. He would thus have been a maker of liquidity. If someone would have accepted to buy 1 BTC from Bill for USD 10,500, then Bill would have been charged the maker fee (usually a bit lower than the taker fee) and the relevant buyer would have been charged the taker fee.

Changelly, on the other hand, charge takers and makers the same fees. You call this fee model the “flat fee model”. Changelly offers a flat trading fee of 0.50%. Changelly does accordingly not care about whether you are a taker or a maker. For investors who prefer to pick-up existing orders from the order book, this might be an attractive trading fee model.

Changelly Withdrawal fees

Many exchanges have competitive trading fees but then hit you on the way out with their withdrawal fees. Let’s say you have reached your investment goals and you are looking to buy house with bitcoin. In order to buy that house, you need to withdraw the funds. And when doing so, the exchange can make up for its low trading fees by charging you high withdrawal fees when you’re halfway out the door. Changelly charges nothing for withdrawals. This means that Changelly even assumes the network fees. Otherwise, you cannot avoid the network fees when you transfer cryptocurrencies. Good job, Changelly!

Deposit Methods

At Changelly, you can deposit through both wire transfer and credit cards. This can be helpful especially for newer crypto investors who want a selection of available deposit methods.

Security

Verification

In order to use this exchange’s conversion services, you don’t need to submit the classic KYC-dokumentation (passports, utility bills or the like). On the contrary, you only need a valid wallet address. If you would prefer to purchase cryptocurrencies with any form of fiat currency, e.g. a credit card, then additional documentation might be required. But for cryptocurrency conversions, a valid wallet address will suffice.

General

One might ask why security is even a feature that we at Cryptowisser have looked for at the different top crypto exchanges. Two reasons:

  • Exchanges store a massive amount of valuable personally identifiable information. From names to addresses, to government identification details, taxpayer identification number and a lot more; and
  • Exchanges handle of course a lot of cash or coin deposits and withdrawals.

Our security score is the result of testing the webpage of each exchange at Observatory by Mozilla (https://observatory.mozilla.org/) which has helped over 125,000 websites by teaching developers, system administrators, and security professionals how configure their sites safely and securely.

Changelly’s security score is B, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is far above average when it comes to top crypto exchanges and could also be a factor making you conclude that Changelly is the best cryptocurrency exchange site for you.

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If you have concluded that this is the exchange for you, congratulations! Go for it. But if not, please use our Exchange Finder here to find out which exchange has the best cryptocurrency exchange site for you.

Good luck!

Changelly compared with other cryptocurrency exchanges
Cryptowisser – Your Trading Cryptocurrency Guide