Digital Trading Platforms, Changelly versus CEX.io

Changelly Review is a digital currency exchange platform that was established back in 2015. The developers of the exchange envisioned eliminating all the technical barriers that are usually associated with the traditional stock and forex trading platforms. Changelly was created to make it very easy for traders to use while also being as efficient as the traditional exchanges.

Changelly is popular among users because you can start trading on the platform without registering or verifying your identity. This is what makes it different from other exchanges. The monthly BTC transaction on the Changelly platform stands at roughly 50,000+ and also offers instant conversions of more than 80 altcoins and tokens.

Currencies Supported

Changelly is known for offering a wide variety of crypto pairs, giving users the opportunity to make up their trading pairs while the bots handle the hard work. At the time of writing this review, Changelly supports 0ver 80 coins including: Bitcoin (BTC), Litecoin (LTC), Bytecoin (BCN), Monero (XMR), DigitalNote (XDN), QuarzarCoin (QCN), Fantomcoin (FCN), Dashcoin (DSH), Dogecoin (DOGE), Ethereum (ETH), Dash (DASH), Ripple (XRP), Aeon (AEON), Radium (RADS), Maidsafecoin (MAID), Factom (FCT), Ethereum Classic (ETC), Nem (XEM), Augur (REP), Tether USD (USDT), NEO, Stellar, Verge, and much more.

Changelly also supports the use of fiat currencies, with the users on the platform given the opportunity to purchase cryptos directly using their credit or debit cards.

Transaction fees

The transaction fees have been static on this exchange. Changelly charges 0.5% fees for all transactions. Changelly doesn’t charge withdrawal fees and has several currency pairs.

Customer Support

Changelly’s customer support can do with a little bit of improvement. Their customer support can be reached via their email, with issues usually resolved within 24 hours. Their website also has an in-depth FAQ section that answers common questions asked by traders.

Supported countries.

Like most exchanges outlined on https://www.abitgreedy.com/changelly/, Changelly’s services are open to all countries across the globe.

Safety

Changelly is a very secure exchange platform. There have been no cases of hacking on the platform since its launch.

CEX.IO Review

This exchange was established back in 2013. It first started out as a Bitcoin exchange platform that also offers cloud mining services. The focus of the company changed two years ago when they stopped their cloud mining service and added Ethereum to their exchange platform

The exchange which is in London offers its users crypto-trade services. Users can deposit to the exchange using banks transfers and credit card.

The CEX exchange website is designed for ease of use in mind. Traders can seamlessly buy and sell cryptocurrencies on this platform.

Supported currencies.

The CEX exchange majorly supports two currencies, Bitcoin and Ethereum. The platform, however, has several trading pairs available. Some of the supported cryptos include NEO, Ripple, Dash, Bitcoin Cash, Verge, Augur, Stellar, and so much more.

Safety 

The platform uses cold storage to store their coins, making it hard for hackers to access them. This has done little to reassure traders because they were hacked back in 2013

Personal Account Security

For the personal account security, CEX offers 2-Factor Authentication, either by Google Authenticator or SMS/Call requests. Both methods are good ways of keeping user accounts very safe.

Transaction Fees

Transaction fees on CEX vary depending on whether the user is using their exchange or is buying or selling Bitcoin and Ethereum.

Trading on the exchange attracts a fee of 0.2% while buying and selling coins attracts a fee of 7%. Furthermore, they also charge deposits and withdrawals fees. The deposit fees are 3.5% when using credit cards, but there are no charges when using bank transfers.

Withdrawal fees are around $3.8 + 1.2% when using credit cards while they charge $50 for bank transfers.

Customer Support

Just like Changelly, CEX handles its customer support. Issues are resolved within 24-48 hours. Their website also has an extensive FAQ section that answers most questions that traders have.

Supported Countries

This platform offers their services to virtually all countries using credit cards in the world except Bosnia, Herzegovina, Iceland, Iran, Iraq, North Korea, Syria, and Vietnam. Some countries are restricted from depositing using bank transfers and they include: Afghanistan, Côte d’Ivoire, the Democratic Republic of the Congo, Eritrea, Ethiopia, Guinea, Guinea-Bissau, Haiti, Iran, Iraq, Kenya, Liberia, Libya, Nigeria, São Tomé and Príncipe, Somalia, Sudan, Syria, Tanzania, Tunisia, Turkey, Vietnam, Yemen, and Zimbabwe.

The platform is also restricted to some parts of the United States.

Limits

The deposit and withdrawal limit on this exchange depends on your level of account verification. For basic accounts, they can only use credit cards to deposit and withdraw.

Deposit Limits: $300 daily / $1,000 monthly

Withdrawal Limits: $500 daily / $2,000 monthly

Verified accounts meanwhile can use both credit card and bank transfers for deposit and withdrawals. Their limits are:

Deposit Limits: $10,000 daily / $100,000 monthly

Withdrawal Limits: $10,000 daily / $100,000 monthly

Comparison between Changelly and CEX.io

Features  Changelly CEX
Registration Not required Required
Supported coins More than 80 pairs BTC and Ether majorly supported.
Deposit and withdrawal methods Credit and debit card Bank transfers and credit cards
Transaction fees 0.5% per transaction 0.2% (exchange), 7% (buying/selling)
Customer support can be reached via Email Email
Mobile App No Yes
Safety of funds Very safe Not so safe. Hacked in 2013
User interface Beginner friendly Beginner friendly
Supported countries Countries all over the globe All countries supported but a restriction on credit card transactions in some countries and bank transfer restrictions in others
Location Prague London

Conclusion.

Changelly and CEX are both excellent cryptocurrency exchanges. However, Changelly seems to have the edge when it comes to a wide range of trading options. Changelly also gets the better of its competitor regarding transaction fees. The transaction fees on Changelly are static (0.5%) while that of CEX vary depending on the function of the trader. The fact that CEX was hacked back in 2013 also makes it lose another point.

Overall, Changelly is the better exchange due to advantages such as broader range of trading options, lower transaction fees, better security of funds, and availability in more countries.

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