Changelly
Changelly is a cryptocurrency exchange service between digital currencies. The service offers a wide range of digital currencies to buy and sell but does not provide conversion to or from traditional currencies. Changelly aggregates and suggests the best currency rates among the largest crypto trading platforms. The primary object of Changelly is to remove technical barriers between customers and the cryptocurrency ecosystem.
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Description
As such, there is no input and output of currencies on the exchange. The platform does not provide its customers with internal wallets. The exchange takes place directly between the users ' third-party wallets. This can be either a balance on the cryptocurrency exchange, on the token mining service, or any of the online or offline wallets.
The platform supports the exchange of more than 70 cryptocurrencies. In addition to Bitcoin and Ethereum among them:
History
The first Changelly prototype was created as a startup in 2013 by the team of MinerGate, a bitcoin mining pool.[1] In 2014, Changelly was developed as an independent exchange service.
The company was established in 2015 in the Czech Republic. One of its founders is Constantine Gladic. Charlie Shrem, one of the founders of Bitinstant and Bitcoin Foundation, contributed to the development of the company. Changelly reviews indicate that the company is not just a service for the exchange of cryptocurrencies. Robot Changely integrated into the various exchanges where it tracks the price of crypto-currencies and chooses the best for the exchange rate of the currencies.
Products
Exchange web site
The company provides a web site that allow clients to enter an amount to transfer and select the digital currency to convert it to.[2] All rates are shown in real time and demonstrate the estimated amount to be expected. The service has an option of making an account in order to provide a comprehensive history page with all the transactions made by a user.
Widgets for publishers
The company also provides software widgets to third parties that can be integrated into their websites. This allows users to exchange one crypto to another directly from the page without leaving. This product is aimed at Crypto news publishers, coin market analysts, bloggers and blockchain explorers.[3]
API for merchants
The 'Smart Payin' API is a solution designed for exchanging digital currencies directly. This allows web sites that provide cryptocurrency wallets, payment providers, entertainment and gambling platforms to accept any coin and instantly convert it into the acceptable one that they accept.[4]
Security and anonymity
Changelly is a link between a user and relevant trading platforms, like Poloniex, Bittrex, HitBTC, etc. All user accounts on Changelly use two-factor authentication and an HTTPS security protocol. No user funds are stored by Changelly as all coins sent are processed to be exchanged and transferred to user wallets. As Changelly doesn’t require an email confirmation, all transactions can stay anonymous.
Advantages
The company's customer base has already exceeded 300 thousand people.
Traders who work with Changelly distinguish such advantages of the company:
- large selection of cryptocurrencies for exchange;
- the opportunity to buy cryptocurrencies for fiat money;
- low commission;
- the availability of technical support service.
Disadvantages
As for the disadvantages in the work Changelly, here we should highlight such points:
- no translation of the interface into other languages.
- there is no possibility of buying cryptocurrency
- there is no way to withdraw money to a Bank card. This is quite a significant drawback, since the presence of such a function would be to the taste of many users.
