Trading cryptocurrency on Changelly: A comprehensive walkthrough
In the ever-evolving world of cryptocurrency, Changelly stands as a reliable platform for a variety of services, including a fiat currency marketplace, a decentralized exchange (DEX), and a mobile app. This article will guide you through the process of exchanging cryptocurrencies on Changelly.
Before we dive in, it's essential to note that this content is informational and not financial advice. Investors, traders, and regular users of cryptography should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
Getting Started
To start using Changelly, create an account by visiting the website and clicking on the profile icon in the top right corner, then "Create an account."
Exchanging with Fixed Rates
When choosing to exchange with fixed rates, provide two crypto wallet addresses: one for the new crypto to be sent and one that supports the cryptocurrency you're paying with, for the refund process. This ensures a consistent exchange amount, regardless of market movements. Some cryptocurrencies are not available for fixed rate exchanges; if they don't have a small lock icon next to their name in the dropdown menu, you won't be able to exchange them with fixed rates.
Exchanging with Floating Rates
To exchange with floating rates, set up your order, choose the "Floating Rate" option in the exchange widget, enter the amount of crypto you want to spend, enter your crypto wallet address, confirm the transaction, and make the payment. Be aware that the final amount of cryptocurrency exchanged may change due to uncontrollable market movements.
Security and Wallets
Changelly partners with crypto veterans like BRD, Exodus, Ledger, Trezor, etc., for secure digital wallet options. If you don't have a hardware crypto wallet, you can choose a secure digital wallet from Changelly's partners. For added convenience, if you're tired of dealing with long crypto wallet addresses, consider using FIO or Unstoppable Domains to replace your wallet address with a word/phrase you choose.
Transaction Time and Limits
Transactions usually take 5 to 30 minutes to be completed, but may take longer if there is congestion within the blockchain. When dealing with cryptocurrencies on Changelly, you have approximately 3 hours to complete the transaction; otherwise, it will be automatically canceled.
Changelly's Founder
The founder of the platform Changelly is Konstantin Gladych, who established it in 2015 and served as its CEO; he currently resides in Tallinn, Estonia, and is the CEO of the Atomic cryptocurrency wallet.
Support and Safety
If you have any questions about your transaction, you can contact Changelly's 24/7 Support Center for assistance. Changelly values security, and transactions are processed securely and efficiently.
In conclusion, Changelly offers a user-friendly platform for exchanging cryptocurrencies with both fixed and floating rates, while ensuring a secure and efficient process. By following this guide, you'll be well on your way to navigating the world of cryptocurrency exchanges with ease.
