Changelly Review

How Changelly works

You choose a pair, enter your receiving address and send the deposit. Changelly's terms say it does not provide custodial services and does not store your crypto on deposits and balances; it routes swaps through third-party exchanges. Beyond the instant swap, Changelly offers crypto purchases with fiat through partners, Changelly PRO, an exchange with an account, and a mobile app, and it marks Changelly PAY and DeFi swaps as new.

There are two rate options. The fixed rate is secured for 15 minutes, or 20 minutes for BTC, XMR, LTC, DCR, EOS, GAS, BNB and VET. The floating rate is an estimate, and after 3 hours, a floating-rate deposit address becomes unusable.

Fees

For floating-rate swaps, Changelly's terms specify a fee of 0.25% of the output amount, with a different fee structure for transactions through its API partners. On fixed-rate swaps it publishes no percentage: its margin sits in the fixed rate. The network fee is additional and shown as an estimate.

In our latest rate snapshot, Changelly's floating rate for 0.1 BTC to ETH came out 2.319% below the mid-market rate, with its fee and the network fee included. In our view, the floating-rate fee is easy to follow, but compare the final amount with another service before you send, because the fee is only one part of the rate you get.

To purchase crypto with fiat, Changelly collaborates with partners like MoonPay, Switchere, and Simplex, allowing payment via Visa, Mastercard, wire transfer including SEPA, or Apple Pay.

KYC, limits and refunds

According to its terms, Changelly may apply AML and KYC checks to specific users, addresses, and transactions. Its AML policy states that transactions flagged as suspicious by risk scoring are put on hold. The homepage outlines two KYC levels: basic, where a passport is usually enough to trade up to 10,000 EUR per 48 hours, and advanced, for higher volumes, needing a face-to-face recognition call, additional IDs, and a supplementary contract. Sum & Substance Ltd (Sumsub) is named for identity checks in its AML policy.

The homepage also mentions that, except for the KYC levels, there are no fixed limits on trading volumes.

If a floating-rate swap fails, the terms say the refund usually takes 1 to 7 business days after you confirm your refund address, and usually up to 20 business days when the funds have to come back from an exchange. Fees are deducted from the refund.

Where you can use it

According to Changelly's terms, individuals located in, nationals of, or residents of several jurisdictions, including the United States with all territories, the United Kingdom, Germany, Austria, Japan, India, Turkey, and Hong Kong, are excluded. The Changelly app is available in the US App Store, but the terms still exclude US residents. If you live in the US, you can use ChangeNOW with an account and identity checks in the 40 states plus DC its Pro terms name, and Coinbase serves every US state.

Regulation and track record

Changelly's terms are governed by the laws of England and Wales. We found no entry for Changelly in the European interim register of authorized crypto-asset service providers.

The Securities Commission Malaysia lists Changelly on its Investor Alert List for operating a digital asset exchange (DAX) without registration; the warning was published in August 2025 and appears in IOSCO's investor alerts portal. As a non-custodial service, Changelly publishes no proof of reserves.

Alternatives to Changelly

If you want a measured price comparison, FixedFloat publishes its fees, 0.5% on a float rate and 1% on a fixed rate plus the network fee, and its quotes cost the least of the services in our latest rate snapshot. It has its own list of restricted countries, so check its terms for where you live.

Our instant swap overview provides a side-by-side comparison of the swap services we cover, and our exchanges for US customers list indicates which provider is available in each state.

Changelly FAQ

Is Changelly legit?

Changelly is an active swap service that has run since 2015 and says it serves over 10 million users worldwide. Two points to weigh: we found no entry for it in the European interim register of authorized crypto-asset service providers, and the Securities Commission Malaysia lists it for operating a digital asset exchange without registration. In our view, it is a reasonable choice for swaps where its terms allow you to use it, as long as you check the final amount.

What are Changelly's fees?

For floating-rate swaps, a 0.25% fee is applied to the output amount, while fixed-rate swaps include a margin in the rate with no published percentage. An additional network fee comes on top. Card and bank transactions are processed through partners like MoonPay, Switchere, and Simplex.

Does Changelly require KYC?

Changelly may conduct KYC checks on specific users, addresses, and transactions, with transactions flagged by its risk scoring system placed on hold. Basic KYC, typically involving a passport, suffices for trading up to 10,000 EUR every 48 hours. Beyond that, advanced KYC includes a face-to-face recognition call.

Can you use Changelly in the US?

No. Changelly's terms exclude the United States, including all territories. Our list of exchanges for US customers indicates which providers are available in each state.