Changelly is an exchange where users can change Bitcoin into any supported altcoin via atomic swap technology. There are over 90 supported altcoins. There are over 1.5 million users registered with the exchange. The exchange also facilitates the purchase of Bitcoin with fiat currency. Payment methods for Bitcoin include using debit and credit cards.
When users make an exchange on Changelly, the provide the wallet address that they wish to receive their altcoins in. Exchange rates are constantly changing, with the rate suggested based on information from the largest exchanges. The fee for exchanging Bitcoin into an altcoin is 0.5% which is low compared to competitors. Before a transaction is complete on Chengelly, users will be shown the exchange rate along with the commission they charge. The network mining fee will also be clearly shown and is separate from the commission that Changelly charge. Once all the information is confirmed, users will be provided with an address to deposit to for conducting the transaction.
There is no wallet associated with Changelly, meaning there is no custodial risk. Users can enable two-factor authentication to add an extra layer of security. Changelly has good reviews among those in the online cryptocurrency community with many big supporters of its service.