Changelly review

What you are actually using

Changelly is not an exchange in the sense the word usually carries. It takes your coins, routes them through partner venues and sends back a different asset, with no account and no order book you can inspect. It has done this since 2015 across the widest asset and chain list in the category, which is the reason to use it and the reason to understand what you are agreeing to.

Fixed rate is the only rate worth taking

Both fixed and floating quotes are offered. The fixed quote is honoured for a stated window and the margin is embedded in the rate rather than itemised as a fee — which is standard here, and means the number you compare between providers is the delivered amount, not an advertised percentage. A floating quote can drift for the entire confirmation window, and the drift does not tend to favour the customer.

The hold risk, stated plainly

The published AML policy reserves the right to hold funds and request verification after a deposit has arrived, and it states no time limit for such a review. This is the structural weakness of every service in this table: you have no account, so a frozen swap is resolved by emailing a support address. Changelly is operated by a named entity with published channels and a documented dispute route, which is better than several competitors and is not a guarantee.

Sensible use

Small, occasional swaps between chains where opening an exchange account would be disproportionate. Anything you would be upset to have frozen for a fortnight belongs on a venue where you hold an account and can escalate.