How to buy Ethereum (ETH) in 5 minutes!

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How to buy Ethereum (ETH)

Established in 2016 in Prague by the same team that established MinerGate (a mining pool that offers a service that guides users through the mining process), Changelly has already attracted over 1 million customers to its exchange.

Changelly has a very clear user-interface, and provides a quick and convenient means of buying altcoins. When purchasing crypto on Changelly the exchange rates and time of transaction are made very clear from the outset. However, the rate stated prior to the transaction being executed by the user is an estimated rate, which may not necessarily be the actual amount in crypto received, depending on the exchange rate at any given point in time (which, as we are aware, can rapidly change when it comes to crypto).

Changelly offers users two options (i) the option of choosing crypto-to-crypto exchanges but also, (ii) unlike Shapeshift, it also allows users to exchange fiat currency (US Dollar or Euro) to cryptocurrency by using a VISA or MasterCard credit or debit card. There are no geographical limits to the service so it can be accessed anywhere in the world.

t claims to offer the widest range of cryptocurrencies for exchange, with over 80 different cryptocurrencies currently available for exchange. Although users generally have no limits on the amount they can exchange, there are some limits on transactions via bank cards depending on where you are in the world, which can be found in their FAQ.

Changelly Fees

Changelly states that it charges a flat fee of 0.5% per trade. However, it also states that it offers the best exchange rates for cryptocurrency, which is a matter that is open to debate and may depend on the currency being exchanged and the time and date of the transaction. Therefore, when purchasing cryptocurrency, we would recommend that you do your research when it comes to exchange rates by checking Changelly, Shapeshift and any other exchange that you may be active on before entering into a transaction to ensure that you obtain the best rates.

Instant exchanges do not generally offer the most attractive rates, with speed being their biggest selling point. In addition, although the fiat-to-crypto option is a very convenient option, the exchange rate offered for transactions made through fiat currencies is worse than the exchange rate through crypto, which according to the developers is as a result of Changelly requiring a third party to process such transactions that result in higher fees.

Unlike Shapeshift, users need an email address in order to use Changelly. Although this may raise concerns re anonymity for some users, this email address does not need to be verified by users and therefore a fake email can be used if users do have anonymity or privacy concerns. Some users have also claimed that Changelly may ask users to provide social media accounts to verify their identity, but again it appears that no verification is required.

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