About Changelly
Changelly is a non-custodial cryptocurrency exchange platform founded in 2015 and based in Prague, Czech Republic. It enables users to swap, buy, and sell a large variety of cryptocurrencies directly and quickly. Operating globally, Changelly remains especially accessible and relevant to European users, offering robust support for the Euro (EUR). The service stands out by allowing instant crypto-to-crypto exchanges without requiring users to deposit assets onto the platform, which is facilitated via a non-custodial model. This reduces security risks by sending exchanged assets directly to the user's chosen wallet.
Changelly distinguishes itself with an intuitive interface and extensive coin offerings—supporting over 500 cryptocurrencies and tokens. It also acts as a fiat gateway by enabling purchases and sales of crypto with and for Euros. Payment methods available to European users include credit/debit cards, Apple Pay, and SEPA bank transfers. For business clients, Changelly provides API and widget solutions for easy integration of its services. Their mobile app further enhances accessibility, replicating most web features for iOS and Android devices.
Compliance and privacy are balanced: many swaps can be performed without registration, though full KYC verification is required for fiat-related transactions due to EU anti-money laundering regulations. Changelly partners with trusted European payment providers such as MoonPay, Banxa, and Simplex to facilitate fiat services. Customer support is available 24/7, and user feedback generally notes prompt responses. Overall, Changelly suits individuals seeking convenient non-custodial swaps or seamless fiat-to-crypto transactions, though its fee structure and transparency require careful consideration.
Pro's of using Changelly
- User-Friendly: Intuitive interface requires no advanced technical knowledge for crypto swaps or purchases.
- Instant Crypto Swaps: Most exchanges complete within 30 minutes, supporting timely transactions.
- Euro Support: Direct support for EUR via SEPA transfers, cards, and Apple Pay, assisting European users.
- Non-Custodial Design: Funds are sent directly to the user's wallet, minimizing platform counterparty risk.
- Extensive Coin Selection: Over 500 cryptocurrencies available, catering to diverse user needs.
Con's of using Changelly
- High Effective Fees: Actual costs for fiat transactions (including spreads and partner fees) frequently exceed 5–10%, often higher than standard crypto exchanges.
- Mandatory KYC for Fiat: Purchasing or cashing out crypto with fiat (EUR) requires full identity verification.
- No Advanced Trading Tools: Lacks order books, margin trading, and sophisticated analytics.
- Reliance on Third Parties: Fiat services depend on external providers (e.g., MoonPay, Banxa), whose fees and policies may vary.
- Exchange Rate Fluctuation Risk: Conversion rates can change between quote and execution, leading to potential slippage or, rarely, failed swaps.
