Changelly offers a lot of various crypto services: a fiat marketplace, a DEX, a mobile app, but the core of our platform has always been our exchange. Today, we will guide you through the exchange process on Changelly’s website.
Table of Contents
Creating a Changelly Account
To create an account, go to changelly.com, click on the silhouette icon in the top right corner, and then click on “Create an account.”
Select the option you like best and follow the instructions to proceed.
Floating vs. Fixed Rates
When you first open Changelly, you will see two different exchange options. So, this guide will be divided into two parts — one that focuses on floating rate exchanges, and one that guides you through fixed rate ones. But what do these rates mean, anyway, and how do they differ?
When exchanging crypto at floating rates, the final amount of exchanged cryptocurrency might change due to uncontrollable market movements. This means if the market at the moment of your crypto exchange turns red (declines), then the amount of cryptocurrency that will appear in your wallet might be lower than the estimated one.
When exchanging crypto at fixed rates, the final amount of exchanged cryptocurrency will remain the same as the estimated one regardless of the market’s movements. This means even if the market turns red, the final amount of exchanged cryptocurrency won’t change.
How to Exchange Crypto on Changelly at Floating Rates
Step 1. Set up your order
Go to changelly.com and pick the cryptocurrencies you wish to exchange from the drop-down menus that can be opened by clicking on the little arrow next to the ticker symbols.
Click Press the “Exchange Now” button to proceed.
You will be transferred to another page. Here you can pick “Floating rate” option on the exchange widget.
Next, enter the amount of crypto you intend to spend in the “You send” field. You can view all your transaction fees and the final amount of cryptocurrency you get on the right part of the window.
Step 2. Enter your crypto wallet address
Enter your crypto wallet address in the “Recipient address” field. This is the crypto wallet that your new funds will be sent to.
Please note that if you don’t have a hardware cryptocurrency wallet, you might like to see the list of reliable Changelly partners and choose a secure digital wallet for crypto storage. We partner with such crypto veterans as BRD, Exodus, Ledger, Trezor, etc.
If you’re worried about entering a wrong crypto wallet address or are simply tired of bothering with long and non-readable strings of digits and letters, try out FIO or Unstoppable Domains. These services allow you to replace your crypto wallet address with a word/phrase you yourself choose — like I-love-Changelly, for example. Learn more about FIO Protocol here.
Step 3. Confirm the transaction and process the payment
Before you send your funds for an exchange, please make sure that all the transaction details are correct. We kindly remind you that blockchain transactions are irreversible. Therefore, when dealing with cryptocurrencies, you have to be careful and attentive to all of the transaction details.
Once done, click the “Confirm & make payment” button.
It is time to send the required amount from your wallet or exchange account to the following address. When exchanging crypto at a floating rate, you have around 3 hours to complete the transaction, otherwise, it will be canceled automatically.
Please note that we might ask you to pass the KYC procedure for security purposes. If you want to learn more about the procedure and why it is important, read this article.
We want to underline that it is essential to understand the fact that your wallet might charge an additional transaction fee for transferring your funds to Changelly. In this case, if you set a minimum amount (required by Changelly) and don’t consider the transaction fees charged by your wallet, the final amount of your funds might not be enough to process the transaction.
Step 4. Congrats! You’re (once again) a Proud Crypto Owner!
Once the blockchain processes your transaction, you will see the following window.
The transaction processing usually takes from 5 to 30 minutes. However, if there is congestion within a blockchain (which means the network is overloaded), then it might require us a longer time to process the transaction.
Either way, if you have any questions regarding your transaction, you can always contact our Support Center which works 24/7 and will be glad to help. If you have any further questions, please feel free to leave us a message in the comment section below.
How to Exchange Crypto on Changelly at Fixed Rates
Step 1. Set up your order
Switch to the “Fixed rate” tab on the exchange widget. Pick the cryptocurrencies you wish to exchange from the drop-down menus that can be opened by clicking on the little arrow next to the ticker symbols.
Please note that some cryptocurrencies are not available for fixed rate exchanges — if they don’t have a little lock icon next to their name in the drop-down menu, you won’t be able to exchange them at fixed rates.
Next, enter the amount of crypto you intend to spend in the “You send” field. As usual, all calculations and other transaction details will be displayed on the right side of the screen. Note that fixed rates are updated every 30 seconds.
Step 2. Enter your crypto wallet address
Since we have chosen an exchange at a fixed rate, we need to provide two crypto addresses: one that your new crypto will arrive to, and one that supports the cryptocurrency you’re paying with. The latter is required for a refund process. If there are any technical issues during the crypto exchange, we will return your funds to the provided refund address. Once done, click the “Next step” button.
Please note that if you don’t have a hardware cryptocurrency wallet, you might like to see the list of reliable Changelly partners and choose a secure digital wallet for crypto storage. We partner with such crypto veterans as BRD, Exodus, Ledger, Trezor, etc.
If you’re worried about entering a wrong crypto wallet address or are simply tired of bothering with long and non-readable strings of digits and letters, try out FIO or Unstoppable Domains. These services allow you to replace your crypto wallet address with a word/phrase you yourself choose — like I-love-Changelly, for example. Learn more about FIO Protocol here.
Step 3. Confirm the transaction and process the payment
We are almost there! Before confirming the transaction, please double-check all the details. We kindly remind you that blockchain transactions are irreversible. Therefore, when dealing with cryptocurrencies, you have to be careful and attentive to all of the transaction details.
Click the “Confirm and make payment” button. Send the exact amount from your wallet or the exchange account to the following address. Please note that you have around 15 minutes to complete the payment (when exchanging crypto at a fixed rate).
Step 4. Congrats! You’re (once again) a Proud Crypto Owner!
Transactions usually take from 5 to 30 minutes to be completed. However, if there is congestion within the blockchain (which means the network is overloaded), then it might require a longer time to process the transaction.
If you have any questions regarding your transaction, you can always contact our Support Center that works 24/7 and will be glad to help.
Disclaimer: Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
