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Changelly Exchange Review – The Complete Beginner’s Guide

Changelly Exchange

The post Changelly Exchange Review – The Complete Beginner’s Guide appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

As cryptocurrencies grow in popularity over the years, so does the demand for good and reputable crypto trading platforms. The more of these platforms emerge, the bigger becomes the competition for the attention of the users. Some platforms succeed at accomplishing this, others fail and perish away as fast as they came to be. One …

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As cryptocurrencies grow in popularity over the years, so does the demand for good and reputable crypto trading platforms. The more of these platforms emerge, the bigger becomes the competition for the attention of the users.

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Some platforms succeed at accomplishing this, others fail and perish away as fast as they came to be. One such very popular cryptocurrency exchange platform is Changelly.

In this article, we will cover the complete aspects of the Changelly exchange such as its features, fees, supported currencies, trading, and much more.

Table of contents

Overview

Legal Name Changelly Exchange
Headquarters Malta
CEO Eric Benz
Year Founded 2015
Exchange Type Decentralized
Trading Fees Maker: 0.25%/ Taker: 0.25%
Deposit Methods Credit cards (VISA and MasterCard).
Supported Cryptos 150+ cryptocurrencies including Bitcoin (XBT), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP) and more
Fiat  USD, Euro, Pounds
Customer Service  Email, Phone
Trading Options Spot Trading, Margin Trading

What is Changelly?

Changelly is a unique cryptocurrency exchange which is in operation since 2015 and is headquartered in Malta. The decentralized exchange is best geared towards users who want to quickly acquire a cryptocurrency for the exchange of another cryptocurrency. 

It uses an automatic trading robot that integrates with some of the largest trading platforms, including Poloniex, Binance, and Bittrex. It operates by making bids and asks respective exchanges to suggest the best available rates on trading pairs.

The platform users can also buy a variety of cryptocurrencies with fiat money including USD, Euro, and Pound.  

It Is One Of The Most Used Cryptocurrency Exchanges That Has Gained The Trust Of More Than 2M Users From All Over The World. 

How to Set Up Account

Step 1: Navigate to the official site and click the green ‘Sign Up’ button located on the top right-hand of the page.

Step 2: Enter your email address, and click on the ‘Continue to exchange’ button.

Step 3: Alternatively, you can create your account using your existing profile on Google+, Facebook, or Twitter.

Step 4: Within a few minutes, you will receive a confirmation email from the Changelly team.

Step 5: Click the confirmation link on that email to activate your account. After this, you will receive another email with your login credentials.

How to recover the Changelly password?

If you accidentally forget your password, Go to the login page and just click on the “forgot password” option and an email will be sent to the registered email address along with the instructions on what you need to do to get your new password.

How to Buy Cryptocurrencies 

Step 1: Log in to your account. Click the ‘Exchange Now’ button.

Step 2: Select the coin you want to exchange from the upper field, and the coin you want to buy from the lower field.

Step 3: Double-check the amount specified, the amount you want to get, and click the ‘Next step’ button.

Step 4: Select a default currency which can be USD, GBP, or EUR from the widget menu. Set the fiat amount and choose the crypto you want to buy.

Step 5: Then Click on the “Buy crypto button” and get redirected to Fiat-to-Crypto Marketplace. Before clicking, copy the generated wallet address,

Step 6: Within 5-30 minutes, your transaction will be complete and you will receive cryptocurrency to your wallet and transaction details to the provided email.

How to Sell Cryptocurrencies

Step 1: Log in to your account. Click the ‘Exchange Now’ button.

Step 2: Select the coin you want to exchange from the upper field, and the coin you want to sell from the lower field.

Step 3: Double-check the amount specified, the amount you want to get, and click the ‘Next step’ button.

Step 4: Select a default currency which can be USD, GBP, or EUR from the widget menu. Set the fiat amount and choose the crypto you want to buy.

Step 5: Then Click on the “Sell crypto button” and get redirected to Fiat-to-Crypto Marketplace. Before clicking, copy the generated wallet address,

Step 6: Within 5-30 minutes, your transaction will be complete and you will receive cryptocurrency to your wallet and transaction details to the provided email.

How to Swap Tokens on Changelly

Step 1: Head to your account, Choose the crypto pair you want to exchange, and enter the amount. (Choice available between fixed and floating rate)

Step 2: Press “Exchange Now” to proceed. Now, Paste the wallet address that the crypto resulting from the exchange will be sent to. Once that’s done, click ‘Next step’ to proceed

Step 3: View the order summary on the Checkout step, then click the ‘Confirm and make payment button.

Step 4: Send the exact amount of crypto to the address provided by Changelly in one transaction.

Step 5:The exchange process begins. This process usually takes from 5 to 30 minutes.

How to deposit on Changelly?

Step 1: Log in to your account. Click or tap on the green Deposit button in the right corner.

Step 2: Choose from the currency you wish to deposit into Changelly and click on the “Deposit” arrow. This will automatically generate your wallet address.

Step 3: Copy the generated wallet address. If you own a cryptocurrency you would like to deposit, use your wallet to send money directly to the copied address.

Step 4: Click on Next. On the next page, you need to enter the wallet address on which you wish to receive your transferred cryptocurrency.

Step 5: Click on Confirm & Make Payment. Here you will see the wallet address on which you need to deposit the cryptocurrency

Step 6: Once the deposit is over, you will also receive an email letting you know the transfer happened.

Deposit & Withdrawal Procedure 

Step 1: Log in to your account. Click or tap on the green Deposit / Withdraw button in the right corner.

Step 2: Choose from the currency you wish to deposit/withdraw into Changelly and click on the “Deposit”/”Withdraw” arrow. This will automatically generate your wallet address.

Step 3: Copy the generated wallet address. If you own a cryptocurrency you would like to deposit/withdraw use your wallet to send money directly to the copied address.

Step 4: Click on Next. On the next page, you need to enter the wallet address on which you wish to receive your transferred cryptocurrency.

Step 5: Click on Confirm & Make Payment. Here you will see the wallet address on which you need to deposit/withdraw the cryptocurrency

Trading Fees

Changelly fees consist of deposit fees, trading fees, and withdrawal fees. Changelly Exchange rates are 0.25% Flat, meaning that takers and makers both pay 0.25% of the total order value of the trade as a fee to Changelly.

You can deposit your funds through regular fiat transfer via Changelly’s corporate partners using credit cards (VISA and MasterCard). Deposit fees vary depending on the way you deposit your funds. This exchange charges 0.0001 BTC in withdrawal fees for BTC withdrawals.

Changelly Supported Currencies

It supports more than 150+ cryptocurrencies listed on Changelly. The wide range of cryptocurrencies creates an opportunity to exchange any two currencies directly with ease.

They accept 3 fiat currencies for buying crypto, namely:

Changelly Mobile App

In addition to the Changelly services through the web, it also has a dedicated app for both Android and iOS devices. This allows you to carry out all the necessary transactions and other features on the go.

Referral Commission & Other Services

Changelly affiliate program 

It is an affiliate program that provides every affiliate partner with up to 50% of Changelly’s revenue from both crypto-to-crypto and fiat-to-crypto transactions. In order to avail this, a user needs to-

  • Go to the Changelly Earn page.
  • Choose one of the available tools (exchange widget, exchange button, referral link, banner, or API for developers) and then add it to their platform.
  • start generating income from every executed transaction.

It also offers to integrate some of the wallets. The most popular wallets that integrate Changelly are TREZOR, Ledger, Exodus, Jaxx, Coinomi, and Edge.

The platform also offers its API and a customizable payment widget for websites. Using the widget, users can exchange crypto from within the site without needing to go to Changelly’s website. 

Is Changelly Safe and Secure?

Changelly is a reputable cryptocurrency exchange that has been in operation since 2015. Users from all around the world have put their trust in the online crypto platform, which continues to develop. 

The decentralised exchange is a secure, non-custodial cryptocurrency exchange. Users’ funds are not kept on the web platform, which may be hacked or compromised otherwise. To give additional account protection and safety, 2 Factor Authentication can be used to secure user accounts.

Conclusion

Changelly is an excellent platform for buying and exchanging cryptocurrencies in a fast and easy way. They have competitive fees and a large selection of cryptocurrency assets to choose from.

It is not only a legitimate website, but it’s also a useful service that every cryptocurrency user should be bookmarking.

 If you are somebody who wants to sign up for a more traditional exchange where you can compete for the best price, Changelly could be the best option for you. 

FAQ

  1. Is Changelly Safe?

Changelly is a secure, non-custodial cryptocurrency exchange. Users’ funds are not kept on the web platform, which may be hacked or compromised otherwise. To give additional account protection and safety, 2 Factor Authentication can be used to secure user accounts.

  1. Can US citizens use Changelly?

Changelly welcomes users from all corners of the globe. They will also accept payments in any currency, but they will convert it to either the Euro or the US Dollar.

  1. Does Changelly require ID verification?

Yes, if it’s your first crypto purchase on Changelly, proof of identity will be required.

  1. Can you make money on Changelly?

Yes, Users can sign up for Changelly Earn and make money. Scroll above to know more.

  1. Can I buy Dogecoin on Changelly?

Yes, one can buy Dogecoin on Changelly.

Changelly – 7.6

Changelly Exchange Rating

  • Currency Support
  • Online Reputation
  • Fees
  • Customer Support
Overall

3.8

Pros

  • Offers a flat cryptocurrency exchange fee of 0.5%
  • Safe & Secure cryptocurrency exchange
  • 150+ currencies available
  • 24/7 Live chat support
  • A recently launched mobile app.

Cons

  • High fees when trading with fiat currencies
  • Unable to sell cryptocurrency for fiat money
  • Few negative comments from the users

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coinpedia.org/decentralized-exchange/changelly-dex/

Blockchain

How Many Bitcoin U-Turns? Goldman Sachs Now Says Bitcoin Is Not a Viable Investment

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The US multinational investment bank Goldman Sachs continues with its 180-turns on the cryptocurrency industry. After its recent interest that included filing for a Bitcoin ETF and exploring crypto as an asset class, the institutions’ latest report said virtual currencies are not a “viable investment.”

Crypto Is Not a Viable Investment: Goldman

It’s safe to say that Goldman Sachs has displayed a controversial approach to the cryptocurrency space. The latest report coming from the Wall Street giant takes it back a notch by going to its hostile policy from previous years.

Titled “Digital Assets: Beauty Is Not in the Eye of the Beholder,” it touched upon some of the most recent concerns, including high energy consumption required in the process of mining. This topic was raised in May by Tesla’s Elon Musk, who criticized BTC for using too much coal fuel.

Despite numerous reports claiming otherwise, Tesla disabled bitcoin payments citing environmental issues.

The paper also touched upon cryptocurrencies’ usage in ransomware attacks after numerous hacks transpired on US soil in recent months. After each, the perpetrators indeed requested the payments to be sent in bitcoin.


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Furthermore, the document named impending regulations as the “biggest risk to the speculative aspects of this ecosystem.” Keeping in mind all of these concerns, the bank concluded:

“After analyzing various valuation methodologies and applying our multi-factor strategic asset allocation model, we have concluded that cryptocurrencies are no a viable investment for our clients’ diversified portfolios.”

How Many U-Turns?

The mentioned-above word ‘controversial’ might not be strong enough to describe Goldman’s ever-changing views on the industry.

The institution was among the first regulated entity to launch a crypto trading desk all the way back in 2017. Yet, that came amid the parabolic price increases, and when the year-long bear market followed, Goldman halted the initiative.

In the meantime, Goldman held a conference call in which it said bitcoin is not an asset class. Bank executives repeatedly questioned BTC’s ability to serve as a reliable store of value and blasted its volatility.

Yet again, Goldman restarted the trading desk this year when, once again, prices were skyrocketing to new highs. It also filed for a Bitcoin ETF with the SEC, explored launching custody services, added BTC to its year-to-date returns report, participated in investment rounds in crypto projects, and enabled clients to trade bitcoin derivatives.

With all of that in mind, it’s not such a surprise that Alex Kruger and other crypto community members viewed Goldman’s latest U-turn as nothing out of the ordinary.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/how-many-bitcoin-u-turns-goldman-sachs-now-says-bitcoin-is-not-a-viable-investment/

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Are Solana, KAVA, Maker, Polkadot good bets in this timeframe?

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One of the market’s top institutional investors, Grayscale, has updated its list of investments in cryptocurrencies, adding 13 new altcoins to its portfolio. From Solana [SOL] to Polygon [MATIC] and KAVA, Grayscale’s new investments have introduced an inflow to several altcoins that have rallied since the beginning of 2021. Though their addition to Grayscale’s portfolio has turned the market sentiment bullish, there are other factors driving their price rally too.

In the case of SOL, the rapidly growing ecosystem of projects makes traders bullish in the long term. SOL’s price has risen as high as $38 while trade volume dropped by nearly 40% in 24 hours. A drop in trade volume could be interpreted as an accumulation and the beginning of a price rally.

To get started with DeFi and NFT ecosystems and projects, more traders are signing up for SOL and there has been a consistent increase in the number of active traders. Additionally, several oracle networks like Switchboard are bringing feeds to the Solana Mainnet. This has increased the popularity of Solana, making it mainstream and increasing the demand across exchanges.

Source: CoinMarketCap

Similarly, in the case of KAVA, MKR, and DOT, the social volume seems to be signaling an upcoming price rally. KAVA’s top features make it rewarding for traders to accumulate since the network fees are optional and rewards are relatively high, with the same recently hitting an ATH too.

What’s more, KAVA has emerged as one of the most rewarding DeFi projects since the beginning of 2021, with the same seeing a hike in trade volume and market capitalization. The said hike is also indicative of increasing demand across spot exchanges.

Grayscale is known for exploring new potential products and this may have driven them to consider the trending altcoins of 2021. However, considering these altcoins, in particular, signals the potential for relatively high short-term ROIs. Since the beginning of 2021, the market capitalization of these altcoins has increased consistently.

In the past week itself, the market capitalization has increased by over 20% for altcoins like DOT, MKR, and KAVA. MKR has emerged as a top volume gainer several times over the past two weeks and this makes it further lucrative for altcoin traders to buy MKR for relatively high short-term ROIs. MKR, KAVA, DOT, and SOL are likely to rally based on these metrics.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/are-solana-kava-maker-polkadot-good-bets-in-this-timeframe

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Ethereum: Will this level hold in the face of selling pressure?

Republished by Plato

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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice

The weekend curse seemed to continue as the global cryptocurrency market opened in the red on yet another Saturday. Ethereum was no exception to the trend and found itself burdened by selling pressure. At press time, the world’s largest altcoin was trading at $2,227, down by 4% in the last 24 hours.

Ethereum 1-day chart

Source: ETH/USD, TradingView

Ethereum’s daily chart pictured an ascending triangle breakdown after the price was rejected at the 20-SMA (red) and $2,540 resistance. A southbound trend ensued and losses amounted to over 13% from the bottom trendline of the pattern. The next question was – What level could provide support for ETH’s downfall?

23 April’s swing low of $2,080 was one defensive option. A bounce back from this region triggered a 100% rally in end-April and saw the digital asset hit its ATH above $4,000. While a similar outcome is certainly unlikely in a bear market, the line could offer support nonetheless.

Further down the charts, another support line rested at 23rd May’s swing low of $1,730. This area was further bolstered by the 200-SMA (green). Once ETH finds its resting ground, the focus would switch to certain resistance levels but the bulls would face an uphill task to target a break above $2,900.

Reasoning

The Relative Strength Index has been unable to break above 50 since the 19th May crash. This indicated that bears were still in control of market prices despite several recovery attempts over the last few weeks. The MACD did see some choppy movement since June but the same has failed to rise above equilibrium. Moreover, the On Balance Volume’s downtrend suggested that selling pressure was still dominant in the market.

While more downside was certainly on the cards, ETH’s support zones can be expected to alleviate incoming selling pressure. However, the price would be constrained going forward. The 20-SMA hovered next to $2,540 and gains would likely be contained below this line over the coming days. Even in the unlikely event of a breakout, ETH did not look ready to climb above $2,900 just yet.

Conclusion 

Ethereum can be expected to find support around $2,080-2,000 region moving forward. A sturdier form of defense rested at $1,730, should it be called into action. In case of a bullish resurgence, ETH could struggle to break above $2,540 over the coming days as bears still had the upper hand.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/ethereum-will-this-level-hold-in-the-face-of-selling-pressure

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