Buzz
1. What is Changelly?
Changelly is a cryptocurrency trading platform that offers some unique features. Initially, the exchange did not accept any common currency. It only allowed the transfer of digital currencies between wallets.
Another unique feature of the Changelly platform is its aggregation of price levels from various exchange platforms on the internet, then suggesting the best price based on that information. This allows traders to easily select the most suitable price level for cryptocurrency transactions.
Furthermore, Changelly distinguishes itself from other services by having a fixed transaction fee structure: the trading fee on the platform is 0.5%, with no exchange fee, bulk discounts, or minimum purchase amounts. The 0.5% fee applies to all transactions, without withdrawal fees or additional commissions.
Changelly aims to bridge the technical gap between customers and the cryptocurrency world. Despite a slightly higher 0.5% fee compared to other exchanges, users on the Changelly platform need not worry about additional fees as with other exchanges.
2. Features of the Changelly Exchange
Changelly emphasizes fairness, speedy transactions, and reliability in trading. Here are some key features of the platform:
- Stable transaction fees:
Changelly charges a 0.5% fee for all transactions, with no withdrawal fees or additional commission fees. The platform boasts a simpler fee structure compared to other exchanges today.
- Swift Transactions:
Enter the amount and address, then receive the transferred coin and complete the transaction.
- Reliable Trading Platform:
Changelly is developed by MinerGate developers, who have extensive experience in the cryptocurrency industry.
- Credit Card Deposits:
Changelly accepts Visa and MasterCard deposits.
- Best Price Offering:
Changelly aggregates transaction prices on the Internet and selects the best price ratio. Users need not worry about fluctuations when utilizing the liquidity of larger transactions.
1. Exploring Changelly's Trading Platform
Changelly's core feature lies in its ability to facilitate coin exchanges at the best rates. Consider this scenario: someone wishes to convert 15 LTC to DOGE. The transaction occurs on Changelly, which scours the internet for the most favorable rate. Changelly monitors cryptocurrency transactions to ensure users receive the lowest possible price.
In the aforementioned example, the transaction on Changelly converts 15 LTC to 0.17 BTC, and 0.17 BTC to 396,000 DOGE. Changelly charges a 0.5% fee (1980 DOGE), sending 394,020 DOGE to the recipient's wallet. This encapsulates the entire transaction process on Changelly.
Changelly garners high praise for its support of various cryptocurrencies, encompassing all major ones and dozens of lesser-known types. You can view the complete list of supported currencies on their website.
1. Supported Currencies on Changelly
Changelly's unique feature lies in its non-custodial trading platform. There are no attached wallet services; instead, users utilize their own coin wallets for transactions.
Each transaction on Changelly typically takes between 5 to 20 minutes to complete. However, for high-value transactions (over 1 BTC), the process may take longer, depending on the user's transaction size and the capabilities of the blockchain.
4. Other Features on Changelly
Additionally, Changelly's website offers widgets for publishers and an API for merchants.
Widgets for Publishers
According to Changelly reviews, this platform creates a variety of widgets for third parties. These widgets can be integrated into their websites, allowing users to trade cryptocurrencies on another page without leaving their site. Some users who may utilize these widgets include market analysts, bloggers, and news publishers.
API for Merchants
Changelly provides an API for merchants called the “Smart Payin” API. This API is designed for direct exchange of digital currencies. Gambling websites or entertainment platforms can offer cryptocurrency wallets accepting payments in any coin, immediately converting them into the preferred payment currency.
For instance, if a merchant wishes to accept BTC, Smart Payin can accept customer funds in cryptocurrencies like DOGE and instantly convert them to BTC.
There is currently a plethora of information about Bitcoin circulating on the internet, with many sharing different ways to earn Bitcoin. For newcomers, it can be challenging to discern the most effective and safest methods of earning Bitcoin. Therefore, it's essential to thoroughly research before investing in this currency.
5. Introduction to Changelly
Established in 2013 in Prague, Czech Republic, Changelly initially emerged from the team behind MinerGate, a bitcoin mining pool. By 2014, Changelly evolved into an independent cryptocurrency exchange service.
The company's About Us page describes: “With achievements in the cryptocurrency world, along with the love and trust of users, these are what we have achieved over the years.”
Changelly reviews attest to its status as a unique cryptocurrency trading platform, offering users the best rates from popular cryptocurrency transactions to lesser-known altcoins. The trading platform was developed by the team behind MinerGate. Nowadays, Changelly is headquartered in Prague, Czech Republic. Transaction fees on Changelly stand at 0.5%, higher than other exchanges.
However, Changelly does not charge any withdrawal fees or additional commission fees. The transaction fee remains fixed at 0.5%.
Ultimately, Changelly is a popular trading platform that allows you to maximize the value of your cryptocurrency transactions. If you own bitcoin and want to convert it into other coins, Changelly is the perfect choice to get the best transaction rates.
Above are some reviews of Changelly. Hopefully, this article will provide you with useful information before investing in cryptocurrencies and conducting transactions on the Changelly platform.
The emergence of trading platforms in the market is increasingly causing many people to hesitate about which platform to invest in, including LiteForex. To make a decision, you need to research thoroughly.
- Read more: LiteForex Review
