Before attempting to trade on Changelly, you should first decide which crypto coin(s) you would like to use. You will find that the platform supports over 100 altcoins, including a few niche coins. When choosing a coin, you should first check its transaction rate, which is usually less than 30 minutes. BTC transactions can take a bit longer, however. Listed below are some of the pros and cons of Changelly.
One of the biggest downsides to using an exchange is the need for an agent to verify your identity. Changelly's agent works to ensure that the person you're trading with has valid identification. This is because some exchanges require their clients to provide this information. This makes it very difficult to trade without an identity verification. However, with Changelly, you can rest assured that you'll be dealing with a trustworthy and professional exchange. Changelly has a friendly customer service team and you'll find answers to most of your questions. You can also ask for help on their website using a chatbox.
Another drawback is that the service isn't free. Unlike some exchanges, you'll have to pay fees for using Changelly. Compared to other exchanges, Changelly charges a flat 0.25% per transaction. In comparison, Binance charges only 0.1%. In addition, there are zero fees for depositing and withdrawing crypto assets. However, you will have to pay a minimum network fee based on your network's load.
Coinbase is a more reputable exchange than Changelly. It insures all US dollar deposits up to $250000 and holds most assets offline, in safe deposit boxes. In contrast, Changelly does not hold customer deposits. Coinbase also limits the amount of exchanged currency by region. It's not surprising that the majority of negative Changelly reviews relate to its fees. A few downsides are listed below. Changelly also has a high volume of transactions.
Other advantages of using Changelly are that it offers an anonymous platform and is backed by the Minergate team. Unlike other exchanges, this service doesn't require users to enter their social security numbers, which can make it easier for scammers to steal your money. Furthermore, users can use the company's mobile application to make transfers through the site. Changelly is also secure, and has never been hacked. Aside from that, you can access the exchange through its website, or through third-party wallets.
While Changelly has a straightforward interface, it does come with fees. While it may not be as user-friendly as some other exchanges, its transparent fee structure makes it an appealing option for new traders. In addition to a low transaction fee, the platform offers more than 100 different crypto trading pairs and supports several payment options. It also supports multiple payment options, including credit cards. In addition, users can exchange cryptocurrencies from over 150 different countries.
