Changelly Review: Legit or Scam?

Changelly: Is This Cryptocurrency Exchange Legit or a Scam?

Changelly is a cryptocurrency exchange platform that has been gaining popularity in recent years, offering users a simple and convenient way to exchange one cryptocurrency for another. But the question remains – is Changelly a legitimate platform or a scam?

Founded in 2015, Changelly is a Malta-based cryptocurrency exchange that allows users to exchange their cryptocurrencies with a guaranteed instant swap. The platform supports over 150 cryptocurrencies, making it a one-stop shop for traders looking to diversify their portfolios. Changelly’s most notable feature is its instant exchange process, which takes just a few minutes to complete, and the company claims to have an instant payment method for fiat currencies.

One of the main advantages of using Changelly is its user-friendly interface. The website is easy to navigate, and the platform is optimized for mobile devices, making it easy for users to trade on-the-go. Changelly also offers a mobile app for both iOS and Android devices, further enhancing the user experience.

However, some users have raised concerns about the fees associated with using Changelly. The platform’s fees are competitive compared to other cryptocurrency exchanges, but some users have reported higher fees than expected. Changelly charges a flat 0.5% fee for most cryptocurrencies, which is relatively low compared to other exchanges. However, the fees can add up quickly, especially for users who are high-frequency traders.

Another concern is the security of the platform. Changelly has made efforts to ensure the security of user funds, but the company’s system is still not completely decentralized. This means that users are still at risk of losing their funds if the company goes down or experiences a security breach.

Support for customer issues is also a concern on Changelly. While the platform offers customer support via email and live chat, some users have reported difficulty getting a response from the support team. This can be frustrating for users who need assistance with their accounts or transactions urgently.

It’s also worth noting that Changelly is not a fiat-crypto gateway, which means that users cannot directly fund their accounts with fiat currencies. Users must first purchase cryptocurrency elsewhere and then use Changelly to exchange it for a different cryptocurrency.

In conclusion, while Changelly is a legitimate cryptocurrency exchange platform, it’s essential to approach the platform with caution. The fees associated with using Changelly may add up quickly, and users should be aware of the risks involved. Additionally, the company’s security measures have yet