Changelly exchange in-depth review – part 1/3
This is the first out of three parts of the Changelly in-depth review. This part of the review will touch upon the exchange’s background, how it works exactly, and what its advantages are.
Changelly is not an exchange like the others. This platform is an instant crypto exchange that started operating in 2015. While it was previously headquartered in the Czech Republic, it is now based in Hong Kong. It also has offices around the world, including Malta, Great Britain, and Brazil.
The group that founded Changelly is MinerGate, a team with a long track-record on the crypto market. However, MinerGate has no involvement in Changelly’s current operations. The current CEO of Changelly is Eric Benz, who has five years of experience working in the industry of innovative financial technology as well as the blockchain field.
How does Changelly work?
This platform is best at finding the best available rates for different trading pairs on the market. Changelly actually shouldn’t be considered exchange per se, as it is a crypto exchange service. The platform is non-custodial, which means that you are not purchasing crypto on Changelly, but rather buying crypto from another exchange. The platform provides users with a window into other exchanges (such as Binance, Bittrex, Poloniex, and HitBTC).
The platform has over 150 cryptocurrencies listed. It focuses mainly on crypto-to-crypto trading. However, it is also possible to buy crypto with fiat currencies using Changelly’s card payment partners, which are Simplex and Indacoin. Users that want to use the fiat-to-crypto transactions need to comply with the KYC policy. They will also be subject to higher service fees
Primary Advantages of Changelly
The platform lists five primary advantages of its trading platform on the landing page:
The best rates on the market;
Transparency in fees;
Fast transaction speed;
High limits and
All five of these advantages are crucial for its users.
Changelly Affiliate Program
The platform also has an affiliate program. If you refer another user to Changelly, you will be eligible to collect 50% of the fees from every transaction they make within the promo period. This deal is not time-limited, but rather permanent. There are two ways you can join the Changelly affiliate program:
Through the Changelly widget;
By using the exchange button with a referral link.
The 50% revenue share model will work for 90 days from the referred user’s registration. We have to note that this is an unusually short referral period, as most exchanges offer permanent commission payments. This means that some other exchanges offer affiliate programs where you will never stop receiving commissions, as long as the referred user keeps on trading.
Check out the second part of our Changelly in-depth review three-part series, where we will talk about the platform UI and supported countries.