|Date of foundation|
1801-03, 18/F., East Town No.41 Lockhart Road, Wan Chai, Hong Kong
|The owner of the company|
|Types of support|
Email: [email protected]
Feedback form on the site
Russian, English, Spanish, German, Portuguese, Chinese
|Number of cryptocurrencies|
|Maximum withdrawal limit|
From 0.0015 to 24771 BTC
|Minimum input limit|
From 30 to 50000 USD
|Methods of replenishment|
Cryptocurrencies, Bank card (Visa/MC), Apple Pay, Wire transfer
|A way to store cryptocurrencies|
RegistrationUp to 60% with commission on referral deals
EUR, USD, GBP
|Types of cryptocurrencies|
Bitcoin, Litecoin, Ripple, Ethereum, Dogecoin, DASH, Tron, Request Network, etc.
|Exchangeability for fiat currencies|
Knowledge base, blog
From 18 years old
Large number of cryptocurrencies and tokens to exchange
Easy registration procedure
Ability to buy cryptocurrency for fiat money
High level of security
Simple and user-friendly interface
Automatic search for the best exchange rate by exchanges
Quick confirmation of transactions
The interface is not fully translated into different languages
Complicated process of buying coins for fiat
Legal name: Fintechvision Ltd.
Legal address: 1801-03, 18/F., East Town No.41, Lockhart Road, Wan Chai, Hong Kong
|Date of update|
Changelly is it a scam? Reviews and description
Cryptocurrency exchange Changelly is a convenient modern exchange service of digital money. It is listed among famous cryptocurrency trading platforms: Poloniex, Bittrex, HitBTC, etc. To make bets, the exchange attracts the most optimal course available on these sites. The client can only watch how automatically will be opened the most attractive offer with no need to register on the site. The services are provided on equal terms for traders all over the world, except of restrictions on the amount of operations during the first month of trading.
And yet, is Changelly a scam or a reliable resource? Will the exchange be able to provide high-quality service, is it convenient for visitors to use it as a widget, is it worth spending your time and finances to work with it? These and other questions will be answered in the detailed reference below.
Terms of trade with Changelly
Website Changelly was developed by the creators of the popular Minergate pool. Charlie Shrem (co-founder of BitInstant and Bitcoin Foundation) and equally well-known Konstantin Gladich are respected in the crypto-currency environment, and their common product, Changelly, combines several useful functions. It is an exchange point of cryptocurrencies (on how to make quick money on cryptocurrency, read here), and the owners of thematic sites can use it as a widget. It is also a great API for trading platforms. One of the important points is the affiliate program; it allows you to increase your income regularly by attracting new referrals. To use this offer is simple: every client of the exchange, who exchanged money through the transition to the attracted widget, brings the owner of the resource 50% of the profit from the transaction. Link to Changelly installs quickly to referrals, placement does not require any special skills. All data on financial receipts are stored in the section «Affiliate Program». There is also a selection of banners, promotional materials and logos, easy to download and install.
The functionality of the exchange attracts the attention of customers from around the world, so the interface is made in English language that is familiar to many traders. There is a translation into several other languages (French, Chinese, Japanese, German, Spanish, Portuguese, etc.), but only for the most important topics and most of information remains untranslated. At the same time, all information is divided into structural sections, which makes the search easy even for beginners who do not speak English. Several websites and wallets work with the platform.
The service already has a high level of trust; the number of its visitors is constantly increasing. Support service is available for 24 hours a day, so after problem statement it is proposed the way to solve it without delay. You can contact the managers either through the feedback form or via e-mail. The registration procedure is minimized: you only need to specify an e-mail address, where a letter with a personal password will be sent, after entering it you can get into your personal account. You can further facilitate this process by logging in via social networks or your own account Google+. You will not be able to refuse a login procedure, because the technical service considers this procedure is necessary to provide assistance in case of problems with transactions.
A personal account is not overloaded with settings. You can change your current e-mail address, if you wish; it is also proposed to use your own password instead of personal one that was sent by the site. You can change your password fast through the personal account too. Another important point is a using of two-factor authentication. It includes entering a code when you log in to your account and then re-entering by the transaction. If you wish, you can opt out of this feature. The visitor can install such a system independently even through a mobile application. The program is designed for Android and iOS devices. But the developers chose not to do a verification of installation and decided that it is unnecessary in this case.
Deposit and withdrawal
You can immediately exchange money here after the registration procedure, which opens access to a personal account. The internal wallet is not provided by the creators, so the exchange starts from the existing account directly on the crypto-exchange. For the same purpose you can use the service for mining or any wallets online or offline. On the site it is convenient to exchange about a hundred different cryptocurrencies, including the most popular ones: Bitcoin (how to make money quickly on the bitcoin exchange rate? read here), Litecoin, Monero and a number of others. The rare tokens can be found there too (GOLOS, GOLOS Backed Gold, etc.).
The operation takes only a few minutes and is very simple. At first,you select the currency to sell (on the main page on the left) and then specify the currency to buy (on the right side of the same page). You need to specify the number of coins and wallet address for the transaction. After a thorough check (it is necessary, because it will be impossible to cancel the transaction after its launch), you can confirm your choice, get the coordinates of the exchange wallet and send coins there for implementation. Instead of the address you can use a QR-code and have to scan it. The service will make the exchange without your help and send the funds to the existing wallet for this purpose. To track the status of a transaction, you need to go to the tab «Transaction history». Usually it takes from five minutes to half an hour, but exchange of a large amount may exceed the specified time frame. User will know immediately about completion of the process, because he will receive a notification e-mail. There is no limit on the minimum and maximum amounts for the procedure, but it is not recommended to sell or buy too small amount, because it can be withdrawn by the service to cover the commission payments.
Since 2016 purchase of tokens is available for fiat money using debit or credit cards Visa and Master Card. The operation is simplified as much as possible: in the field on the right you specify the purchase amount, on the left you specify the sales amount, an e-wallet address is necessary. Personal card information (CVC code, card number and expiration date) is entered in the line «Pay with Mastercard/Visa»; a phone number for connection with a user is added. The code will be announced over the phone, you should open a special field to enter it. Now you need to wait until the exchange operation is completed. The receipt confirming it is placed in the online banking application. To purchase you can use a card of any country, and the currency will be automatically converted at the rate of the dollar or euro.
Not everyone can buy cryptocurrency without restrictions for the first time because some countries have introduced individual rules. For residents of Australia, Canada and the United States set a limit: on the first exchange is no more than $50, on the second exchange it should not exceed $100, on the third is no more than $500. Europeans can make the first payment in the amount of 100 US dollars and the second is twice as large, but in 4 days the third payment will be identical to the limit for Americans, but it will be possible not earlier than in a week. Starting with the fourth payment, all limits are canceled. Residents of the CIS countries are limited to the first transaction for the amount of 200 US dollars, after this operation they have to wait for a week, then can spend on one operation up to 2000 US dollars. The upper threshold of the first month is 10 thousand US dollars. To withdraw money directly to the card, including through PayPal, will not work due to the lack of such an option.
Complaints against Changelly
Traders‘ references about Changelly exchange are diverse. Along with a lot of compliments there are some negative aspects. The service charges a modest commission fee for operations: there is a fixed rate of 0.5% of the total amount. In addition, a commission fee, provided by the token system, is charged. Users are not satisfied with it and some of them express claims periodically about relatively high taxes on the exchange, but the developers of the site have their own explanation for this, and most of the customers agree that the user-friendly interface is worth paying. It should be noted that the exchange does not fix the rate at the start of the transaction, so the received amount may not always correspond to the application: it can be higher or lower. This is due to the extreme flexibility of the cryptocurrency rate, which can be changed even in the short period of time required for the transaction. If the service fixed it, the commission fees would have increased significantly because in the case of a rapid decrease, the site would have to maintain the application threshold at the expense of its own income.
Users are outraged by the recent introduction of KYC («Know your customer») regulations, which apply to all platform members without exception. The developers claim that all customers have received a warning letter about the need to pass the data check, but the victims, whose accounts were blocked due to the lack of a package with confidential data, assure that no one warned them about changes in the rules of the exchange. Because of the wave of indignation resource was charged with fraud with customer funds. On the positive side, customers note the excellent service, a user-friendly interface, the presence of automated trading system and two-level authentication.
Changelly broker regulator
The company was registered in Prague on 26 December 2013 and operates under Czech law. In 2015 the service was rebuilt according to the current parameters and received an updated interface. Since July 2017 the API exchanges has been integrated into Jaxx Wallet – an application that is popular among crypto currency traders thanks to its wide capabilities and useful functionality. The main office is opened in Prague, and the exchange is allowed in all countries of the world, but its rules are the same for all. If you break the rules, your account will be blocked. The user must not distribute malicious links through the site, advertise any products, leave offensive comments and conduct a criminal lifestyle here.
On the exchange it is allowed to accept any local currency, which is immediately transferred to the account in dollars or euros. If you have difficulties with the transaction and the code is not received, then a support service will help you. To do this, you need to record a voice message: no extra words are required, just say: «Indacoin verification». In addition to the message you will need a photo with a passport in hand. After receiving your data the service will solve your problem.
The work of the exchange is conducted on the sites of the most popular social networks: Facebook, Twitter, Google+. About its merits and functionality were written several times in such distinguished media as Forbes, Cryptocoinsnews, Coindesk. There are more reasons to praise, than to disapprove. Users` wishes about the expansion of the list of currencies for exchange always get the proper reaction and the list of cryptocurrencies is growing. Along with it the control of the support service for the safety of the exchange and any data of its customers is growing. For example, in addition to standard two-level authentication, the site administration has recently introduced mandatory compliance with KYC standards in accordance with international law.
Clients must provide the administration with a package of documents before proceeding with the first transaction. The package must include a photocopy of all important pages of the passport, certified by a notary. There must be also the documents confirming the place of residence or passport page with a residence permit, or paid receipts for utilities (also must be certified by a notary). You will need a recommendation document; this is either a letter from a certified accountant or a lawyer indicating the status of the relationship with the applicant, or an official paper from the Bank where a user has a current account. In the absence of at least one document transactions are blocked and funds are not returned to the account. The client needs to be prepared for the fact that the transaction will start even without the provision of the relevant securities, but it will not be possible to get the purchased cryptocurrency, as well as to return the funds invested in its purchase.
Is Changelly a scam?
Changelly is an exchange with more advantages than disadvantages. The creators have tried to give to the users a necessary product. The service offers a variety of cryptocurrencies (learn the truth about the cryptocurrency from our material) and tokens that are available for exchange at the optimal rate. You can buy coins for fiat money. The first advantage, marked by the user is that you do not have to spend a lot of time to register. Further stays on the site and purchase or sale do not carry any threats because authentication occurs twice. The menu of the exchanger is well formulated; search for any necessary information is fast and convenient. The client should not be engaged in the search for the optimal exchange rate of cryptocurrencies (see the current forecast of cryptocurrencies for 2018 here) on other platforms all this is done automatically.
Experienced users can follow the fluctuations of the exchange rate of any currency on the main page of the exchanger. The required coin is entered into the corresponding column, after which the exchange will offer all possible ways to make a profit on the thematic platforms. Confirmation of transactions is fast enough, although users sometimes complain of technical failures, due to which there are delays. At the same time, the speed of response to complaints is very high, so that the clients will not be alone with their problems.
The size of the commission fee is not very high, but there are dissatisfied customers. Since the commission fee is counted twice, some users believe that it should be either reduced or partially canceled. Among disadvantages some users noted complicated procedure to exchange cryptocurrency for fiat and inability to transfer money immediately to a personal bank card of their country. In addition, the translation of the menu into all the languages listed in the relevant section is still in progress.
Traders` feedback (mostly positive) a successful operation of the site demonstrate not for the first year that the exchange is not a scam or a bucket shop; all operations are confirmed and made quickly. Integration into other resources, active affiliate program also indicate the intention of developers to keep pace with the times. All this has led to the dynamic growth of a permanent customer base, which has long exceeded 300 thousand people.
And yet, is it fair to call one of the most popular resources in the cryptocurrency market сhangelly.com a bucket shop and a scam? This question can be firmly answered with no. The service remains a popular platform for traders for many years; the users around the world use it for small and large operations, leave positive feedback more often than negative. Full transparency of the resource allows us to talk about reliability and security of data.
Changelly is a cryptocurrency exchange with its advantages and disadvantages. It has only a few of disadvantages and they do not complicate work significantly. The most unpleasant thing is the lack of ability to withdraw funds to a personal bank card. Benefits of service compensate this inconvenience. The platform has automatic tracking of the best exchange rate, a huge number of cryptocurrencies for buying and selling, increased security. In case of any problems with the exchange the support service responds quickly and provides effective assistance. The developers don`t rest on their laurels of success, and periodically update the interface, extend functionality, add a new currency for exchange.
The team of FraudBroker.com is not ready to call Changelly exchange a bucket shop or a scam. However, we want to wait for users` references that will be useful to all newcomers and serve as a guide about or a caution against possible problems in the operation of the site.
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