Changelly Review

Changelly scores 6.4 out of 10 in our instant crypto exchangers ranking, rescored from current evidence on 1 November 2026. The basis is desk research of Changelly's fees FAQ, terms of use, transaction FAQ and AML/KYC policy; no test swaps were placed. It scores well for publishing a fee figure, offering two rate types and now setting out custody, KYC and refund rules. Its weak point is the operator, which the terms name only as "Marella", with no jurisdiction.

How Changelly scores in instant exchangers

The category has five criteria, each marked 0 to 10 and each worth 20% of the total, under our ratings methodology.

The overall score is a plain average: (7 + 8 + 7 + 7 + 3) / 5 = 32 / 5 = 6.4. No criterion is weighted differently and no penalty is applied.

Changes from the previous scoring: custody and KYC rose from 3 to 7 because the terms now state that the service is non-custodial and the AML/KYC policy explains when checks apply. Refund policy rose from 2 to 7 because refund rules and timelines are now published. Entity transparency rose from 2 to 3 because the terms now give a trade name, though nothing more. The overall score moves from 4.4 to 6.4. Fee transparency and rate options are unchanged.

Strongest criteria: a published fee and two rate types

Rate options (8)

Both floating and fixed rates are offered, and the deposit windows are stated. A fixed-rate order has 15 minutes, or 20 minutes for BTC, XMR, LTC, DCR, EOS, GAS, BNB and VET. A floating-rate address stays valid for three hours. A stated lock duration is part of what this criterion checks.

Fee transparency (7)

Changelly's fees FAQ states a 0.25% service fee on floating-rate swaps, and the terms repeat it as 0.25% "from the output amount". On a floating swap that would otherwise return 1 ETH, the service fee is 0.0025 ETH, with the blockchain network fee charged on top. The mark stops short of the top because the fixed-rate fee is described only as a dynamic fee against volatility, with no number. The terms also say API partners may pay a different rate, so the same swap inside a third-party wallet can cost a different amount. Our guide to crypto trading fees explains how service fees, spreads and network fees add up.

Middle marks: custody, KYC and refunds

Custody & KYC (7)

The terms say Changelly does not store users' crypto on deposits or balances, although a deposit is in Changelly's hands until the payout is sent. Its account FAQ says crypto-to-crypto swaps need no verification in about 99% of cases. The AML/KYC policy, updated February 2022, says transactions flagged by risk scoring are put on hold and checked through Sum & Substance (SumSub), with source-of-funds proof for higher-risk cases. The trigger is a flag rather than a published amount threshold, so a user cannot tell in advance whether an order will be held. That is why the mark is 7, level with ChangeHero's, rather than FixedFloat's 9.

Refund policy (7)

Changelly now publishes refund rules. Failed floating-rate swaps are refunded in 1 to 7 business days, less applicable fees, once a refund address is confirmed. Qualifying fixed-rate refunds take up to 20 business days, and in some failures Changelly honors the rate manually instead. Late payments and reused deposit addresses are handled by hand, and a refund is possible if the amount covers the network fee. The terms also say operating costs and network fees are deducted only with the user's prior consent, and a confirmed outgoing transfer cannot be reversed. The policy is clear, but its timelines are long and several cases apply only "where a refund is possible", which keeps it below the 8 for FixedFloat and ChangeHero and the 9 for ChangeNOW.

Weakest criterion: the operator

Entity transparency (3)

The terms of use, last updated December 2024, say the site is "operated and maintained by Marella" together with related companies that are not named. No company form, country of incorporation, registration number or address is given. The privacy policy names Alqentra LLC, but as the operator of the separate Changelly PRO trading platform, not the swap service. A bare trade name is slightly more than naming no one at all, which scores 2, but it gives a user little to act on in a dispute. The terms send disputes to confidential arbitration under the laws of England and Wales.

What the score does not cover

• Rate competitiveness and delivery speed, which were not measured.
• Fiat buying and selling through third-party providers, and Changelly PRO, which sit outside this category.
• Country availability: the terms bar users in the US, the UK, Germany, Japan, India and other listed locations. Restrictions are not scored, but they decide whether the service is usable at all.
• Support quality and complaint outcomes.

Changelly vs ChangeNOW, ChangeHero and FixedFloat

These three services were rescored on the same date and against the same evidence standard. ChangeNOW is at 7.0. It scores 9 on refunds and 8 on entity transparency where Changelly scores 7 and 3, but only 3 on fees against Changelly's 7. ChangeHero, at 8.0, matches Changelly on custody and KYC (7) and rate options (8), and scores 9 on entity transparency and 8 on fees, with a figure stated for both modes. FixedFloat, at 8.6, is ahead on all five criteria, most widely on fees (10 vs 7) and entity transparency (7 vs 3). Changelly's lowest mark, entity transparency, is the main gap to all three.

Who it suits

On the scored evidence, Changelly fits a user who wants to know the service fee before a floating-rate swap, wants written refund rules and is in a supported country. It fits less well anyone who needs to know which legal company stands behind the service, or who cannot wait up to 20 business days for a fixed-rate refund. This is an assessment of published policies, not a recommendation to use or avoid the service.