Understanding the key players in this transformative space is critical in an era where digital currencies continue to revolutionize financial transactions. The Traders Union has thus embarked on a mission to provide exhaustive insights into these platforms, and today, we delve into an in-depth “changelly.com review.” Considering the growing interest in cryptocurrency exchanges, this analysis is significant and aims to offer traders a crystal-clear understanding of what to expect when using changelly.com.
Traders Union compiled the Changelly.com review. The review presents an unbiased perspective, highlighting its strengths, shortcomings, and overall performance.
What is Changelly.com?
According to TU experts, Changelly is a high-risk cryptocurrency exchange with a TU Overall Score of 2.65. With over 100 evaluation criteria, expert Anton Kharitonov has ranked Changelly 49 out of 199 companies featured in the TU Rating. Notable attributes include low commission fees, high work stability, comprehensive training programs, and regularly posting high-quality analytical materials. However, most clients’ reviews point to dissatisfaction with the broker.
Changelly stands out for its free multicurrency wallet with an integrated exchanger, offering several dozen cryptocurrency-to-cryptocurrency trading pairs. The platform prides itself on its high transaction speed, allowing for instant completion of trades and possible replenishment from bank cards. Moreover, Changelly provides partners with lucrative terms, transferring their software solutions and advertising materials.
Advantages and disadvantages of Changelly
TU experts identify several benefits and drawbacks of trading with Changelly:
Advantages:
- Diverse Cryptocurrency Selection: Changelly stands out with its extensive cryptocurrency offerings, catering to both novice and expert traders. This diversity allows users to broaden their portfolios, optimizing risk distribution and potential returns.
- Rapid Transaction Speed: Changelly shines in delivering near-instantaneous transactions, enabling users to react swiftly to market trends. This quick response time provides a competitive edge in the dynamic crypto trading landscape.
- Minimal Commission Fees: Changelly offers one of the lowest commission rates in the market, making it attractive for high-volume traders and beginners alike. Lower trading costs directly enhance profit margins.
Disadvantages:
- Absence of Fiat Trading Pairs: Changelly falls short by not offering trading pairs with fiat funds. This limitation can hinder traders who wish to directly exchange cryptocurrencies for traditional currencies.
- Lack of Private Investment Options: Changelly does not support private investment, which might deter traders looking for customized or exclusive investment opportunities.
Trading conditions for Changelly users
Based on TU expert analysis, users must register to start trading on the Changelly cryptocurrency exchange. The platform offers various tariffs such as ‘Start’, ‘Trader’, and ‘Pro’, each offering different functionalities. Notably, Changelly doesn’t provide leverage; thus, traders can only rely on their financial assets. Technical support is offered through a ticket system or via email.
The platform’s key trading terms include the following:
- A minimum deposit of $1.
- No leverage, implying a 1:1 ratio.
- A commission that varies depending on the tariff.
- A lack of mobile trading and PAMM accounts.
Changelly commissions & fees
Traders Union experts note that Changelly collects a 0.1% commission for each transaction under the ‘Start’ tariff, a rate unaffected by the asset, transaction size, or user’s total trades. The ‘Trader’ and ‘Pro’ tariffs feature a commission system linked to the client’s trading level, determined by the trades’ volume over the last 30 days. The commission decreases as the trading level rises, with the ‘maker’ enjoying zero commission at the highest level.
In addition, Traders Union has answered the question: is Bittrex legit? Read the complete answer on its official website
Conclusion
This comprehensive review by Traders Union unravels the nuts and bolts of Changelly, highlighting its functionalities, pros, and cons, among other aspects. Changelly offers diverse features and unique offerings, making it a noteworthy player in the cryptocurrency exchange space. However, potential users must also factor in its high-risk nature and mixed client reviews.
For those seeking more in-depth information and insights into various brokers and trading platforms, we recommend visiting the official Traders Union website. Your financial decisions should always be informed and intentional, and Traders Union is here to facilitate just that.
Adedapo Adesanya