Changelly FAQ

About

What is Changelly?

Changelly is an instant cryptocurrency exchange providing the best crypto-to-crypto rates on the market.

How does Changelly work?

Changelly’s robot is integrated into the largest cryptocurrency trading platforms, such as Poloniex and Bittrex. In milliseconds, the robot makes bids and asks on the platforms, then selects and suggests the best available rate that shows up on the homepage.To learn more about the process, see this article.

Why should I trust you?

Changelly is a young and prospective project created by MinerGate enthusiasts. The service provides safe and fast transactions without revealing identities. We provide the best rates due to a wide range of reliable trading platforms and have over 35 cryptocurrencies listed.

The reasons why you may trust Changelly are:

No deposit storage and instant money exchange.
Each account protected with 2 factor authentication.
Trust of more than 100 000 users including such well-known persons as Charlie Shrem.

Why doesn’t Changelly fix rates?

Unlike ordinary money, cryptocurrency is volatile, so the rate of one may fluctuate each minute. This is the reason why a final rate might be higher or lower than expected at the end of a transaction.

Keeping the rates fixed would make us cover market risks and currency volatility and set the commission fee much higher as a result. Instead, Changelly charges a quite low commission fee (0.5%) and offers the best available rate at the moment of finished transaction. This is why we don’t fix currency rates and never did.

Accounts

Why should I enter my email?

Your email is needed to create an account that gives you access to your transactions history, password editing and other settings. You may use your email or use social media to log in.

What is the 2-factor authentication?

The 2FA authentication is a method of how your account is protected. To log in, you’ll need a second device with Google Authenticator installed.

You may turn the verification off anytime you want.

How do I delete my account?

There is no option to delete an account on Changelly, so you may return anytime you want.

Transactions

What’s the wallet address?

A wallet is a digital place for your coins to be stored. Each coin has a certain wallet provider. That could be official GUI-wallets, web wallets and other applications. The wallet address represents a randomly generated combination of digits and letters.

Changelly doesn’t provide wallet addresses and never stores user deposits. To exchange cryptocurrencies, you need to provide a wallet address to receive your exchanged money.

How do I get a wallet address?

Just figure out, what coin do you want to buy and seek for a stable wallet version. As a rule, each coin has its official wallet client.

Note that each wallet has its unique address or a tag with a private key that is required to restore your wallet if lost. Changelly never asks your private keys. Store them in a safe place and never show anyone. Once private keys are stolen, you wallet with all the coins will be lost forever.

What's the recipient’s address?

In each transaction, there is always a sender and a recipient. The recipient’s address is the wallet address to receive money you want to buy. For example, if you want to buy Ethereum (ETH), in the field, you should specify the ETH wallet address.

In general, the recipient’s wallet address is the address we send coins bought, once a transaction is finished.

What is a hash?

A hash (or the tx ID) is a unique address of your transaction in a blockchain. Mostly, the hash is a combination of digits and lower case (upper in Ripple) letters that represents a proof that money is sent. Whenever you make a payment, you receive a hash displayed in your wallet. It looks like this:

Hash should be located in a blockchain. Our support team may ask you to provide a hash. Sometimes it’s required to find your payment and resolve your issues, if any.

How do I buy coins?

For all the coins available on Changelly, buying process is the same.

Go to changelly.com and select the coin you want to exchange on the left and the coin you want to buy on the right and go next
Check the amount specified and the amount you’re gonna get.
Specify the recipient’s wallet address.
Once again, check everything attentively. Note that the amount is estimated, so it may be more or less in the end of your transaction. If you’re OK with this, proceed to the next step.
Now your transaction is created. You see a QR code and a wallet address below. This is the address you should send us your money to be exchanged. Go to the wallet from where you should send money and paste this address into a corresponding field. If you use a mobile wallet app, just scan the QR. Once we receive your money, we’ll exchange it and sent to the address you provided in the step 3.
In your transaction history, you may see the status of your transaction. Once it’s finished, you’ll be informed. Usually it takes 5-30 minutes. In some cases, waiting time might be increased.
After a transaction is finished, you get a receipt with an output transaction hash This hash is a proof that your transaction is finished.

What is the maximal/minimal amount?

Changelly doesn’t have amount restrictions. However, there are some nuances.

If an amount is too low, make sure that it will cover all the network fees a blockchain takes. It means that the amount you are going to send and the amount you are going to get should be enough to cover input and output network fees taken by a blockchain.

If your funds to be exchanged are insufficient, you will see a message like this.

Please stick with this recommendations. Otherwise, there is a high risk that your money will be lost.

For large amounts, there are no restrictions at all. You’re free to send any amount you want. Note that in this case the time of transaction processing will depend on the capacity of a blockchain and the amount of network fees set by your wallet.

What are network fees?

Each money sending process goes through a blockchain. The process requires a network fee. This is a commission a blockchain takes from the amount you and we send. This is why it is so important to include network fees in the amount you send and going to get. If the amount is too low to cover the fees, a transaction will fail.

Learn about network fees in this article

How do I cancel my transaction?

Blockchain transactions are irreversible. Once money is sent, it cannot be rolled back. So if you are going to exchange cryptos, think twice and check attentively all the payment details prior to sending money.

Why is my final amount different?

All transactions take time to be processed (usually 5-20 minutes). For quite volatile currencies this time is crucial as the final rate may surprise you. This happens due to the fact that Changelly doesn’t fix currency rates.

When should I receive my money?

Changelly transactions take 5-20 minutes to be processed. If a transaction is large (over 1 BTC worth), processing may take longer depending on the size of your transaction and blockchain capacity.

Why is my wallet address recognized as invalid?

Changelly supports most of wallets. If your wallet address is recognized as invalid, there is always a reason:

You confused Dash (DASH) with Dashcoin DSH). These are two different coins with two different amounts.
You confused Factom (FCT) with Fantomcoin (FCN). Different currencies as well.
Typo or character missing. Make sure that the address you specify matches the actual address of your wallet.

Why does my transaction take so long?

As a rule our transaction takes 5-30 minutes to be processed. It your transaction takes longer, this might be due to a wide range of factors.

Blockchain overloaded. There are many transactions pending including yours. The issues takes place on the Bitcoin and Bitcoin based blockchains. All you have to do is to wait. The blockchain overload doesn't depend on Changelly.
Coin updates. We may turn off some coins to update a client. It will take some time. Once we turn it on, you will get your money.
DDoS attacks. Any platform may experience such issues. In this case, all you have to do is wait.
Read detailed explanation of each issue in this article: About delays

Why is my transaction still waiting for payment if I've already paid?

This might be due to several reasons.

Transaction hasn't been included to a blockchain. Cryptocurrencies aren't stable, so minor errors might occur. Either can we refund money or push a payment through if you provide the hash (a tx ID) of your transaction.
ETC and ETH confusion. The addresses of Ethereum (ETH) and Ethereum Classic (ETH) are of the same structure. If you send ETC or ETH, make sure that you've created an appropriate transaction on Changelly. For example, if you create an ETH to BTC transaction, make sure that you send ETH, not ETC. Otherwise your transaction will be stuck.
Wrong XEM message. While sending XEM, make sure that you've put a correct message. It's indicated here and looks like a combination of digits and letters. Messages like 'Hey how are you', 'I love Changelly' etc. are lovely but don't work, unfortunately :)
Other internal errors. Even our perfect system may lag or experience internal issues. If you suppose that this is the case, report it to support@changelly.com

Destination tags, memos and messages

What is a memo?

A memo is a combination of digits and letters required to assign STEEM to a certain Steem wallet user. Memos are used in Steem wallets and indicated right here.

In wallet, a memo should look like this

If you want to buy Steems, make sure that you've specified a correct memo while putting in a wallet address.

Note that you have a nickname on steemit.com, you may use it as your wallet address that doesn't require a memo.

What is a destination tag?

A destination tag is a short complementary combination of characters required for certain Ripple wallets. While buying Ripple, make sure that you have specified a destination tag if required. Likewise, when you send us Ripples, don't forget about a destination tag provided near the address to send to.

What is a message?

Message is an additional tag required for XEM transaction. Whenever you send or receive XEM, make sure that you've input a message. You may find it in you wallet, and it should look like this.

Bank card payments

What currencies does Changelly accept?

Changelly accepts USD and EUR for which you may more than 35 cryptocurrencies.

How do I buy cryptos using a bank card?

The process is quite simple and takes a few minutes.

Go to the home page and select USD or EUR on the left and a crypto you want to buy on the right.
Check attentively the rate and the amount you are going to get.
Specify your BTC or other cryptocurrency wallet address.
Once again, check all the payment details, especially an estimated amount. Go next only if the rate is acceptable for you.
Your transaction is created. Here, you may see requirements and limits on buying. Those are made for first several transactions. Once read, click ‘Pay with Mastercard/Visa’. Cards processing is made by our partners Indacoin Limited, headquartered in London.
Now, you’re offered to enter your bank card data. Remember that it should support 3D-security.
Enter a valid phone number attached to your card.
Wait till you get a phone call. You’ll hear a digital code to enter.
Go to your online bank app and find a bank statement with a three-digit code to specify. It should look like this:
If you can’t find the code for some reason, there is an option to record your voice saying ‘Indacoin verification’ and send the picture of you and your passport.
Once you’ve entered the code or sent your data, wait a little until your transaction is finished.
Within 5-30 minutes, you will get your money and the receipt.

For detalied guide in pictures, click here.

Can I use bank cards of another region?

You may pay with a 3d-secure card of any country. In this case, the amount will be written off at current USD or EUR rate.

Can I pay with PayPal?

Changelly accepts only bank cards. We don't accept PayPal yet.

Can I pay with another currency?

You may pay in any currency that will be converted at the rate of USD or EUR.

Are there any restrictions on bank card payment?

Although you may exchange any amount, we still have some terms for first transactions.

USA, Canada and Australia - $50 limit for the first transaction, the next purchase could be made in 4 days (100$ limit), $500 after 7 days of the first buy. No more than 3 payments within the first week. No limits in one month at all.
CIS region (Russia/Ukraine/Belarus/Kazakhstan/Armenia/Georgia) - $200 limit for the first transaction. The next limit increase could be done in 24 hours. The total limit for the first week is $2000 and for the first month is $10000.
EU and other countries - $100 limit for the first transaction, the next purchase could be made in 4 days with 200$ limit. And $500 after 7 days of the first buy. No more than 6 payments within the first week. No limits in one month at all.