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Changelly

Changelly
Founded2013 (2013)
ProductsAPI and exchange widgets
Websitechangelly.com

Changelly is a cryptocurrency exchange service between digital currencies. The service acts as a mediator between trading cryptocurrency platform and users providing a wide range of digital assets for a seamless exchange. The primary focus of Changelly is to make the exchange process transparent and easy for everyone who wants to invest in cryptocurrency.

Work principles

Changelly's trading algorithms are integrated into large and reputable trading platforms, such as Binance,[1] Bittrex, Poloniex and HitBTC. Whenever a user exchanges one cryptocurrency to another, the corresponding rate is picked up and suggested to them in real time. In the span of milliseconds, Changelly correlates the amount to exchange and places bid/ask orders on the trading platforms and picks up the best rate possible.

History

The first Changelly prototype was created as a startup in 2013 by the team of MinerGate, a bitcoin mining pool. In 2014, Changelly was developed as an independent exchange service with a separate team and CEO, Konstantin Gladych. In 2016, after major technology updates, Changelly was redesigned and released on [2] the International Day of Human Space Flight. On the 1st September, 2018 Konstantin Gladych left the company and Changelly officially announces its former COO, Ilya Bere as the Chief Executive Officer[3]. At the same time, it was announced that the company is moving to Malta in order to get incorporated there instead of Czech Republic due to more favorable legal framework for pursuing Changelly’s agenda.

Operating ever since Changelly has attracted over 2M users from around the world. The current activity of Changelly is not linked to MinerGate and other projects related.

Affiliate program and customizable Widget

Changelly provides affiliate program revenue shares for registered users, from individuals to large companies and bloggers. The revenue shares imply 50% of Changelly commission fee for each transaction that is successfully made by another user via an affiliate's referral tools (Referral link, Widget). The program runs with no time limits and leaves all affiliate rewards to a customer on a permanent basis.

One of the affiliate tools is a customizable Widget for merchants and bloggers who can place it on a website or blog. The Widget allows to exchange one crypto to another directly, without leaving the web page and accept cryptocurrency from other users and blog readers for donation or monetization purposes.

Partnership

With gaining more prominence, Changelly became a partner of a range of cryptocurrency services consisting of platforms for trading, gaming, crowdfunding and coin-tracking, wallets, merchants and crypto advisors as Charlie Shrem.[4]

Core partners[5]

  • Binance
  • Bittrex
  • BRD
  • Exodus
  • MyEtherWallet
  • Ledger
  • Trezor
  • Coinpayments
  • Coinomi
  • Edge

API for developers

For wallets, other exchanges and platforms, Changelly provides its API for integration. The API acts as a mechanism that allows processing in-app transactions, exchange currencies, buy goods or pay for services within a platform or application Changelly is partnered with.

Security

All transactions being performed via Changelly require user account registration. The account registration is protected with two-factor authentication and an HTTPS security protocol. According to the European KYC Directives, Changelly executes anti-fraud and anti-money laundering procedures that require a user to provide information on the origin of funds they are exchanging[6]. This measure aims to prevent malicious activities on Changelly and services alike. 99,5% among all transactions are still processed anonymously[7].

References

  1. ^ "Redefining The Rules of Cryptocurrency Trading: Changelly Partners With Binance". cointelegraph.com. 25 April 2018.
  2. ^ "Changelly Exchange Opens Doors As Compromised ShapeShift Goes Down". cointelegraph.com. 12 April 2016.
  3. ^ "Moving to Malta and Introducing our CEO: Ilya Bere". Medium.com. 2018-09-17. Retrieved 2018-12-03.
  4. ^ "Changelly is Set to Outperform ShapeShift with Charlie Shrem as Advisor". cointelegraph.com. 13 February 2016.
  5. ^ "Partners". Changelly.com. 2018-12-03.
  6. ^ "AML/KYC". Changelly.com. 2018-12-03.
  7. ^ "Changelly clarifies the scamming accusation made against the platform". ambcrypto.com. Retrieved 2018-12-03.

External links