Cryptocurrency is currently the order of the day in the United States and the world at large since its inception back in 2009. After its establishment in Japan, the online coin has gained extensive popularity and a mass following. If you reading my Changelly reviews then I assume you are no stranger to the world of cryptocurrency.
However, this article promises to take you deep into the crypto world, providing answers to some of the frequently asked questions such as, is Changelly scam or legit, what is Changelly? How do I exchange my coins for a dollar bill? I have got you covered with my Changelly reviews as it promises to answer all your questions.
But before we delve into my Changelly reviews properly, I would like to walk us through briefly into the world of cryptocurrency for the interest of those who know so little about it. Cryptocurrency is an online currency that differs from conventional currencies like dollars ($) Pound sterling and Euro.
There are different cryptocurrencies like Bitcoin, Ethereum, Litecoin, and a handful of others. The first crypto to be invented was Bitcoin in 2009 by a Japanese tech entrepreneur. Since its invention, the online base currency has gained widespread popularity so that businesses around the world were left with no option than to reckon with crypto.
Malls and online retailers around the world now identify with the online currency so that you necessarily need to use conventional money to buy stuff online.
But as with most inventions still at the early stage of growth, cryptocurrency too has its challenges. Some malls and stores are yet to recognize cryptocurrency so that they only allow other notable means of the transaction such as physical cash, credit card, bank transfer, etc.
So in order to make purchases in-store where crypto is not accepted, one needs to change cryptocurrencies into conventional currencies, and this where platforms like Changelly come in. Changelly is just one of a handful of platforms that provide an exchange between cryptocurrency and conventional cryptocurrencies.
While trying to change cryptos into conventional currencies, several people have reportedly lost their money to con men pretending to be legitimate business men/women on these exchange platforms this why people take to the internet to search questions like is changelly scam or legit? Subsequent sections on my changelly reviews answers that question.
What is Changelly?
Changelly is one of the platforms that enable people to exchange cryptocurrencies at a given rate. If you are trading with a particular cryptocurrency like Bitcoin for instance and wish to switch to another currency like Ethereum, platforms like Changelly offer such services.
Most of these crypto exchange companies like Changelly are subsidiaries of larger companies with huge stakes in crypto. You can look at these companies like banks of cryptocurrency.
They have a huge amount of cryptocurrencies in store so that people go them exchange their coins from one form to another at a given fee. The benefits of using these companies are much, these companies offer security so that you are not ripped off of coins as well as offering anonymity.
Cryptocurrency has expanded since its inception so that demand for coins continue to increase on a yearly basis, tech companies around the world keyed into the progress that is why we have companies like Changelly today.
Changelly was established less than a decade ago in 2013 by the union of two tech companies. It was established by a team of tech experts working at MinerGate. The team sort ways to provide solutions to the problems that bedevil the crypto world then, and after seven years in active service, the company has continued to grow.
At the onset, the company had an interest in all sorts of tech-related issues until 2016 when was fully established as an independent cryptocurrency exchange platform. Since then, the company has reportedly done business with more than 3 million people around the world and they are credited for honesty and smooth business operations by users.
To paint a clearer picture of what Changelly stands for, now imagine you’ve got different cryptocurrencies in let’s say five different, designated wallets. This may be inconvenient for you as it often takes a lot of time and typing to access all of them when you wish to perform transactions.
On this occasion, would be to exchange them into one, specific currency like BTC, right? Well, to make such an exchange, one definitely needs platforms like Changelly. But knowing the right exchange platform to choose from is not as easy as one might wish. But then this why I took at the time to write my Changelly reviews. This review guides you right.
It’s very important for a crypto exchange platform to be legitimate and have a history of smooth operation. I can vouch for Changelly as one of the trusted platforms. The company has made numerous advancements since its inception.
How Changelly Operates
The company operates in a simple and straightforward way. Users have to be tech-savvy to use the platform. The user interphase is beautiful and easy to understand. The site even has pictorial illustrations to guide users through various transactions.
The company exchange cryptos at the reason fees this is why people rush to Changelly for the exchange of their coins. Changelly deals with this process for you at a reasonable fee. They do emphasize this quite often – one of the standouts features the company boasts of. Exchange price at Changelly is almost unbeatable when compared to other sites
I think you now know a thing or two about the company and how it operates, now let’s take a look at some key features available on the site.
Features on Changelly
The success of the exchange platform is often attributed to the features obtainable on the site. I thought I would explain some features you find on the site.
The company has one of the best the rates in the business. The exchange rate at Changelly is likely the most striking feature of the platform. This is why most people choose changelly over other exchange platforms.
When you visit the site, it is boldly displayed that changelly operates a flat rate system. A flat fee of 0.5% per trade is charged when you trade between cryptocurrencies. This means, you are charged 0.5% of the actual amount you are trading.
The flat rate applies to all trades with the exception of trades that have to do with fiat currency. The company has endured some backlash with this regard with many saying the flat rate ought to extend to trades in fiat currency.
Let’s say this is one of the dark spot of the site. This has made the company get a handful of negative reviews from users with some rating the company 1-star. But aside from this, the company’s flat rate structure is unbeatable in the market.
No Personal Info required
Another amazing feature of Changelly is the fact it requires no personal information about you when you want to make transactions. This is done to protect users from potential hackers. It requires your email, you don’t get to give out sensitive information.
Emails are needed for 2-factor authentication. This is a type of security system where sites send confirmation links to people making transactions online to ensure they are not dealing with con men. Aside issues of security, Changelly needs your email to keep data of your transaction as well as when you wish to change your login password.
Safety of Changelly
It is common to hear people enquire about the safety of changelly. You hear people ask, is changelly safe to use? How secured is my account with changelly? Given my years and numerous experience in the crypto world, I understand why people express concern about the safety of changelly.
I have learnt of several reports where people are ripped off their money by con men posing as legitimate business men online. Also, I’m not spared of the scourge called online scam that has ravaged the internet since the advent of cryptocurrency.
However, I can assure you that changelly is highly secured and safe to use. There are very little to no report of fraudulent activities on changelly by members. The safety of the site has made it enjoyed positive ratings from users. I even read a particular report of a member who accidentally sent a huge amount of money during transaction. The member reported that the support if Changelly were very helpful to return the money.
As much as I know about Changelly so far, there are no registered break-ins, scams, hacks or other malfunctions within Changelly. The company is pretty transparent with what they do, and there have been no major issues regarding safety in general.
How to Use Changelly?
I believe you must have learnt a thing a two so far about this changelly reviews. We have since discussed the platform’s features and fees and provided answer to the question – is Changelly legit or scam? I think at this point, you should have already gotten at least some sort of a feeling towards this crypto exchange platform. If this feeling is positive and you’re thinking about trying the platform out, you’ll need to know how to use Changelly.
To begin with Changelly, the very first step you should take is to select which crypto that you would like to trade in. The platform offers members with more than 100 different altcoins to choose from when it comes to trading – which makes options are quite quite extensive when compared to other sites. Also, this depends on your preferences and reasoning for trading, though, you might find that there aren’t that many niche coins that Changelly would offer.
After you must have decided on the type of crypto you would like to deal in, the next step is to loop up the rates. On their site, the platform boasts of a quick service. It states that their transaction rates are usually much faster than 30 minutes. BTC is the one exception, however – transactions that involve this crypto coin can take 30 or more minutes.
However, Changelly does promise the best trading rates at any given time for any given cryptocurrency. Just to be sure, it would probably be a smart decision to double-check the currency rates at other crypto exchange platforms.
When you are certain that Changelly offers the best exchange rates for the cryptocurrencies of your choice, the nexte step to take is to sign up on the platform. Signing up with Changelly is involves simple steps and it’s easy to do. All it requires to begin trading on Changelly is your email and you are guaranteed a maximum security during your trading of cryptocurrencies.
After carrying out your trade, all that’s left to do is confirmation of payment and wait to receive your altcoins. Usually, the process does not take more than 30 minutes to complete but sometimes, when the site experiences heavy traffic, it takes a bit longer for the transaction to complete.
Pros and Cons of Changelly
What are the pros and cons of using Changelly? This another frequently asked question about Changelly. But I think that if you have followed this reviews until now, you probably should have figured out a few pros and cons of using Changelly. So I would reserve the hassle of highlighting what I feel are the pros and cons of using Changelly.
I often advice people to put security and safety over exchange rates when dealing in cryptocurrency. This is because of the incessant report of fraudulent activities across the world of cryptocurrency in general. I have been a victim of scam and I wouldn’t you to suffer similar fate.
But with regards to Changelly, I can guarantee your dealing is safe and secured. The company has invested heavily to ensure members’ trade safety. The company is constantly on the lookout for fraudulent activities and once they suspect an account holder is fraudulent or when people report the fraudulent accounts, the platform blocks such users to prevent loss of money of members.
This concludes my Changelly reviews. Do you have any thoughts concerning this review? Please let me know through the comment box below.
visit the official site www.changelly.com
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