Have you noticed how everyone’s talking about cryptocurrency recently? It’s because cryptocurrency is a hot topic that teaches you how to make money online. Cryptocurrency is a new way people move money online through coding. It’s fast, dependable but can be quite challenging especially if you’re just starting. If you’re still considering being a trader, why not start small; begin by learning the foundation, and see how your progress makes you feel.
However, you need to understand that just like every other business has its own trying moment, so does cryptocurrency. Crypto’s price can fluctuate at any moment. It’s so unstable which can be quite risky, especially if you’re not well knowledge about it.
Furthermore, there’s a private key that every trader has, this key let’s you to have access and also enables you to control your digital funds. It is very important that you keep it private and back it up, because loosing it means losing access to your money.
There’s no “reset” button where you can recover your private key. That means, the funds stay locked up forever. That’s why people are told to back it up in a safe place like writing it down and storing it somewhere secure so they never lose access to their coin.
In addition, converting crypto into real cash is not that simple, various platforms like Changelly which serves a middleman has stepped in to make the conversion easier for traders. However, Changelly has to pick and choose where it can operate legally. That’s why you’ll see a list of “Changelly supported countries” on their site. That means, supported countries can swap from one crypto to another or convert their coin into any local currencies.
In this article, you’ll get to know all Changelly supported countries and how you can use this platform.
What is Changelly?
Changelly is an online platform where you can swap one cryptocurrency for another or convert from a cryptocurrency to physical cash in your preferred local currency. Changelly takes care of the trading process, all you need to do is to follow the steps on how to swap your coin or convert your crypto, while Changelly does the processing and payment. Changelly’s system is always being monitored, so that any suspicious activity that might cause trouble can easily be detected.
Also, when you trade, Changelly displays the exchange rate and the fee on the screen which makes every transaction transparent.
In addition, Changelly has lots of crypto trading options and supports many local currencies, which means your choice for swapping is not just limited to few options. You can swap smaller coins without having to pass through the rigorous process of verification.
How Changelly Works
Below are the few steps on how to swap your cryptocurrency into regular money.
- First, you’ll have to launch the app in your phone or on your desktop using the web version.
- On the app, you’ll see an icon, open the icon and start swapping.
- Next, you’ ll see a box with an indication “send”, click on it and choose the type of cryptocurrency you want to trade.
- In the second box, choose a cryptocurrency (Litecoin) or local currency like Dollars or Shillings that you would like to receive in return after the trade is done.
- Furthermore, type how much cryptocurrency (coin) you want to send and Changelly will show you the exact amount you’ll get in return.
- Before you hit the “exchange button”, it is important to take a closer look at the exchange rate to be sure it corresponds to what you’re expecting. Also, Changelly usually charge a little fee for any exchange done, make sure you’re seeing it to know the exact amount you’re paying.
- Anytime you want to make any trade, the app creates a new wallet address just for that particular trade. You’ll have to send your cryptocurrency to the new address for the swapping to take place. Processing of crypto or conversion usually takes a few minutes.
- Finally, the new amount or crypto will be sent to your wallet or linked account.
However, if you want to swap bigger coins, you’ll have to move from the trade free zone to signing up, then create your account and get verified by Changelly before you can exchange bigger coins.
List of Changelly is Supported Countries:
Europe
Åland Islands, Albania, Andorra, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Faroe Islands, Finland, France, Germany, Gibraltar, Greece, Guernsey, Hungary, Ireland, Isle of Man, Italy, Jersey, Kosovo, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Moldova, Monaco, Montenegro, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Serbia, Slovakia, Slovenia, Spain, Svalbard and Jan Mayen, Sweden, Switzerland, Ukraine and United Kingdom.
America’s
Anguilla, Antigua and Barbuda, Argentina, Aruba, Bahamas, Belize, Brazil, Cayman Islands, Chile, Colombia, Costa Rica, Curaçao, Dominica, Dominican Republic, Ecuador, El Salvador, Greenland, Grenada, Guadeloupe, Guatemala, Guyana, Haiti, Honduras, Jamaica, Martinique, Mexico, Montserrat, Nicaragua, Panama, Paraguay, Peru and Puerto Rico.
Asia
Afghanistan, Armenia, Azerbaijan, Bahrain, Bangladesh, Bhutan, Brunei Darussalam, Cambodia, Georgia, Hong Kong, India, Indonesia, Iraq, Israel, Jordan, Kazakhstan, Kuwait, Kyrgyzstan, Lao People’s Democratic Republic, Lebanon, Macao, Malaysia, Maldives, Mongolia, Nepal, Oman, Philippines, Qatar, Saudi Arabia, Singapore and Taiwan.
Oceania
American Samoa, Australia, Cook Islands, Fiji, French Polynesia, Guam, Kiribati, Marshall Islands, Nauru, New Caledonia, New Zealand, Niue, Norfolk Island, Northern Mariana Islands, Palau, Papua New Guinea, Pitcairn, Samoa, Solomon Islands, Tokelau, Tonga, Tuvalu, Wallis and Futuna.
Africa
Algeria, Angola, Benin, Botswana, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Comoros, Congo, Côte d’Ivoire, Djibouti, Egypt, Equatorial Guinea, Eritrea, Gabon, Gambia, Ghana, Guinea, Kenya, Lesotho, Liberia, Libya, Madagascar, Malawi, Mali, Mauritania, Mauritius, Mayotte, Morocco, Mozambique, Namibia, Niger, Nigeria, Réunion, Rwanda, Sao Tomé and Príncipe, Senegal, Seychelles, Sierra Leone, Somalia, South Africa, Swaziland, Tanzania, Togo, Uganda, Zambia and Zimbabwe.
List of Changelly Supported States in the USA:
Its quite unfortunate that Changelly is not supported in the USA. The platform is yet to get a proper license to operate in the country. Before Changelly will be accepted to function in the US, it must meet up with the individual state rules. However, there are lots of Cryptocurrency platform available in the American digital marketplace. Therefore, residents can check out for other trading alternative that is fully acceptable in the country.
Changelly Alternative Platforms:
- WEEX
- MEXC
- ChangeNOW
- StealthEX
- SwapRocket
- MoonPay
- Best DEX
- PrimeXBT
Conclusion
Changelly is an intermediary, it allows you to trade one coin for another or convert your cryptocurrency into physical cash. Changelly shows you the exact exchange rate and fee right in front of you before trading commences. It keeps the cost of transactions very low so you can make much profit from your trading. You can easily move your money from one wallet or account to another. However, you can only access this platform if your country among the Changelly supported countries.