When it comes to buying Bitcoin, we have plenty of options.
But when we want to get ahold of other cryptocurrencies (altcoins) like XRP, Monero, ETH/ETC, LTC, or any other, we have limited options.
The altcoin market is booming, but due to a slow development process, we often face the challenge of buying those cryptocurrencies.
The best way to get ahold of most of the altcoins (Alternate cryptocurrencies) is by using a cryptocurrency exchange website.
Note: Since the cryptocurrency field is not so old and we have to be careful when it comes to using any such online website, we here at CoinSutra do the field testing and share about working sites. If we spot a scam site, we will let you know before you waste your money.
When it comes to exchanging cryptocurrencies, you might have heard of Changelly in various forums (including the Reddit thread on Bitcoin). I have used ShapeShift in the past to exchange BTC into ETH and few other currencies, but a few days back I got to know about Changelly.
The first few questions I had about Changelly:
- Is Changelly legit or is it a scam?
- Can I trust Changelly with my money?
- What happens if something goes wrong. Will I get support?
I started researching & got some rave reviews about Changelly.
Some users even suggested that it’s a better alternative than ShapeShift.
After a few hours of research, I thought of giving Changelly a shot.
This review of Changelly is based on my personal experience & will give you all the important information you need before you start using Changelly.
Review of Changelly: Can you trust this cryptocurrency exchange site?
To start with, Changelly is a trustable site which you can use to exchange between various cryptocurrencies.
The interface is super clean & there are some pretty cool features that made me convinced that this is the #1 site for exchanging cryptos.
Before everything else, Changelly does let you buy bitcoins or other cryptos using a credit/debit card; however, I won’t recommend you do this as the price is massively high. Instead, you should refer to our earlier guide on the best websites for buying bitcoins using a credit/debit card.
Now that you & I are on the same page, let me walk you through Changelly.
Features of Changelly:
- Exchange Bitcoin into any other supported cryptocurrency.
- Exchange fees are only 0.5%.
- Supports USD Tether (USDT).
- Buy Bitcoin on Changelly using a credit/debit card.
- Create a user’s account so that you can track your past exchanges.
Personally, I love the account history feature because the exchange doesn’t often happen in real time.
You can simply log in to your account anytime and see the status of your current & past exchanged cryptocurrency.
In April 2017, Changelly reached the 1,000,000 users milestone. This shows how popular this cryptocurrency exchange website is becoming in such a short span of time.
Getting started with Changelly: The complete guide for beginners
- Head over to the Changelly homepage.
- Select the currency you wish to exchange.
Let’s say you want to exchange BTC for XRP:
- Enter the exchange amount
- Click on Exchange!
On the next page, you’ll see the exchange rate.
Note: If it asks you to make an account, you definitely should do that.
- Click on Next.
On the next page, you need to enter the wallet address on which you wish to receive your transferred cryptocurrency.
In this case, we’re entering an XRP wallet address (that you can get using Ledger Nano S or Binance).
- Click on Next.
Before Changelly gives you a deposit address, it will show you all the details. Don’t be in hurry & review all the information one more time.
- Click on Confirm & Make Payment.
Here you will see the wallet address on which you need to deposit the cryptocurrency (in our case it’s 0.1 BTC).
Once you have deposited the funds, it could take a few minutes to an hour to complete the exchange.
Note: I have used the site 4 times, and each time the exchange happened within 10 minutes.
Once the exchange is over, you will also receive an email letting you know the transfer happened.
You can check this receipt again at any time from your Changelly dashboard.
Changelly Supported Cryptocurrencies
As of now, Changelly supports cryptocurrencies like BTC, ETH, LTC etc and it supports more than 100 cryptocurrencies as of now.
Here is a sneak peek into what currencies are supported by Changelly as of now.
Conclusion: Is Changelly a legit website?
Changelly is not only a legitimate website, but it’s also a useful service that every cryptocurrency user should be bookmarking.
They keep adding support for all of the reliable cryptocurrencies and their support system (in case there’s a problem) is also very good.
In short, Changelly will save you a lot of time when you need to quickly get ahold of any popular cryptocurrency.