Changelly crypto exchange or Fintechvision Ltd is a company registered in Hong Kong in 2015. With a lot of trusted partnerships around the company, many believe this exchange is one of the best options.
However, many signs point out there could be potential issues. But to find out all the details, you better read this Changelly review carefully. Unless gambling is your thing.
| Regulated By: | No Regulations |
| Is This Company Safe? | No |
| Known Websites: | https://changelly.com/; |
| Have Warnings From: | N/A |
| Registered In: | Hong Kong |
| Operating Since: | 2015 |
| Trading Platforms: | Web and mobile platforms |
| Maximum Leverage: | N/A |
| Minimum Deposit: | $5 |
| Deposit Bonus: | Not available |
| Trading Assets: | Cryptos |
| Free Demo Account: | Not Available |
| How To Withdraw From This Company? | With almost 20% of negative comments and zero regulatory oversight, withdrawal issues are possible. Thus, to withdraw the funds you have to use their Mercuryo partner with also 20% negative reviews. All in all, if you experience any trouble with this company, reach out to our refund consultants for advice. |
Legal Info: Is Changelly Legit?
Generally, the Changelly crypto exchange looks exactly the same as any other top-tier licensed exchange. Except they are not licensed either by Hong Kong authorities or any other tier 1 group of regulators, such as FCA, CFTC, or ASIC.
Yet, they provide services in countries where crypto regulation is mandatory. On top of that, the company appears to be involved in suspicious transactions with a company on a CNMV warning list – Margex. Research showed us this crypto exchange was used as the payment processor of this scamming company. Does that make them legit? You decide.
Who Are Changelly’s Clients?
Since 2015, when the company was first registered, they were expanding quite quickly. Thus, some numbers don’t add up. From 2 million monthly traffic, they only gathered 500k downloads for its app on PlayStore. Anyway, many of those clients come from:
- United States
- Nigeria
- United Kingdom
- Germany
- France
Knowing there could be issues with this firm, we encourage you to leave your opinion in the comments below. Also, you can contact us directly if you need advice on a refund.
Traders Reviews
Overall, Changelly’s reviews look quite decent. With almost 3.200 comments on Trustpilot, there’s plenty of material to look through. However, the disturbing fact is that many traders coming from highly regulated countries reported various issues. In fact, more than 15% of them. On top of that, there are some comments on Reddit explaining some issues in more detail.
Mainly, traders are reporting refund issues, unprofessional and misleading support, and withdrawal problems. If you are experiencing something similar, don’t wait a bit and contact our refund experts on time.
Investment Costs With Changelly
In general, the company has two options for fee structure. Traders can choose either fixed or floating exchange fees. Even though the fixed rate of 0.25% is quite low, converting cryptos to fiat could be much more expensive. The minimum you have to pay is 3.95% of the amount. However, the amount may vary depending on multiple factors.
Bonuses
One of the good sides of crypto exchanges is that there are no shady bonus offers. The same applies to the Changelly exchange. However, if you ever get any, you better check the bonus agreement first.
Before you continue exploring options with this company, you can also check some tips from our Bitcoineer review.
Changelly Trading Features
In general, partnerships with Ledger, MyEtherWallet, Trezor, and Exodus skyrocketed the company’s traffic. These options are bringing some kind of security into the play.
Besides those, the Changelly crypto exchange can’t compare its features to any top-tier licensed crypto exchange. At least, this is a non-custodial exchange, so you are, in one way, safe.
Trading Platforms Available
Exchanging, buying, and selling cryptos with this company is possible directly on its website. But also through the Changelly app for iOS and Android devices.
If you are expecting some extraordinary features like AIs, Expert Advisors, or copy trading features, forget it. This is not a brokerage but a simple crypto exchange.
Available Trading Assets
One of the biggest advantages is that this company offers more than 500 cryptocurrencies and 90 fiat currencies. For many crypto investors, this can play a huge decision-making role. Some of the attractive options are:
Account Types
Generally speaking, this company doesn’t offer different levels or account types for customers. Therefore, everyone gets the same Changelly fees regardless of their trading volume.
However, there’s a ChangellyPRO program. With this option, traders can also use spot, margin, and perpetual futures trading features.
Mobile Trading App
Indeed, mobile apps for iOS and Android users can be downloaded from trusted stores. This makes a whole difference when choosing an exchange. Some of the reasons why such apps are necessary for crypto trading, you can find in our Zoomex review.
Demo Account
Understandably, with crypto exchanges, you will rarely see a demo account option. Thus, before you purchase PRO features, it would be suitable if traders could explore the platform. Unfortunately, that’s not an option.
Education
To be fair, the company has an outstanding and professional blog on its platform. It covers many crypto-related articles where traders can learn a lot. But also, the company’s Crash course is offered completely free.
Changelly Withdrawal
As mentioned, withdrawal fees are starting from 3.95%. Traders can choose between 10 cryptocurrency and 7 fiat currency withdrawal options. Apparently, withdrawal procedures through their partnered platform, Mercuryo, can take up to 40 minutes.
Customer Support
One of the key things with investment firms is the customer support. Even though they are available 24/7, some traders find it useless.
Also, the only option to get in touch with them instantly is through a live chat. Another option is to submit a ticket. Yet, we fairly doubt anyone is eager to wait for a problem solution.
Key Information To Consider About Changelly
Besides missing regulations, especially in the US, high rates, and limited payment options, everything looks outstanding. Starting with the apps, partnerships, reviews, and Changelly affiliate program. Still, there’s quite a decent percentage of doubt that everything will be fine with this company.
In case that something unexpected happens, it’s better to have professionals on your side. Therefore, don’t hesitate to contact our refund specialists. After all, the first consultation is completely free.
FAQ Section
What is Changelly?
Changelly is a Hong Kong-based cryptocurrency exchange founded in 2015 that is offering more than 500 crypto assets.
Who is the Owner of Changelly?
The ownership of the company belongs to Fintechvision Ltd registered at 7-9 Austin Ave, Tsim Sha Tsui, Kowloon, Hong Kong.
Can You Use Changelly in Australia?
Indeed yes. The company has very few restrictions, but luckily Australia is not one of those.
Source:
https%3A%2F%2Fscambrokersreviews.com%2Fcrypto-scams%2Fchangelly-review%2F
