Is Changelly a Scam? A Comprehensive Review.

Changelly is a cryptocurrency exchange that allows users to exchange one cryptocurrency for another. It was founded in 2015 and is headquartered in Prague, Czech Republic. Changelly does not require users to create an account or provide any personal information, which makes it a popular choice for privacy-minded users.

Team

Changelly was founded by Eric Benz and Ilya Golovenko. Eric Benz is a serial entrepreneur with experience in the financial technology industry. Ilya Golovenko is a software engineer with experience in developing blockchain applications.

Services or Products

Changelly offers a variety of services, including:

• Cryptocurrency exchange: Users can exchange one cryptocurrency for another.
• Instant buy: Users can buy cryptocurrency with a credit card or debit card.
• Decentralized exchange: Users can trade cryptocurrency directly with other users.
• API: Developers can use the Changelly API to integrate cryptocurrency exchange into their own applications.

License and Regulations

License Status

Changelly is not licensed by any financial regulator. This means that the platform is not subject to any government oversight.

Regulation Status

Changelly operates in a legal gray area. The platform is not explicitly prohibited by law, but it is also not regulated. This means that there is no guarantee that users will be protected if they lose money using the platform.

Why Dealing With An Unlicensed Broker Is Risky?

There are several reasons why it is risky to deal with an unlicensed broker.

• Unregulated brokers are more likely to be scams. There is no government oversight to protect investors from fraudulent activity.
• Unregulated brokers may not have the necessary security measures in place to protect customer funds. This means that there is a risk of losing your investment if the broker is hacked or goes bankrupt.
• Unregulated brokers may not be transparent about their fees and trading conditions. This can make it difficult to know how much you are actually paying for your investment.

Legal Warning Against Changelly

In 2022, the Financial Conduct Authority (FCA) in the United Kingdom issued a warning against Changelly. The FCA warned that Changelly is not authorized to provide financial services in the UK and that it is likely to be a scam.

You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.

Client Feedback

Feedback About Their Trading

There are a number of negative reviews about Changelly’s trading platform. Some users have complained about high fees, slow transaction speeds, and poor customer support.

Feedback About Their Customer Service

Changelly’s customer service has also been criticized. Some users have complained that they have been unable to get in touch with customer support after experiencing problems with their accounts.

How Can “Reviews Advice” Help You If You Get Scammed?

If you have been scammed by Changelly or any other cryptocurrency exchange, there are a few things you can do.

• Report the scam to the authorities. This could help to prevent other people from being scammed.
• Try to get your money back. This may be possible if you can track down the people who scammed you.
• Learn from your mistakes. Be more careful in the future when choosing a cryptocurrency exchange.

But, the first two methods are time-consuming and require technical knowledge. But, if you want a quick solution and recover your funds, you can contact us. We will provide you with a free consultation and service recommendations to help you in getting your money back.

Final Thought

Changelly is a risky platform to use. There is no guarantee that you will not lose money if you use the platform. If you are looking to exchange cryptocurrency, it is best to use a regulated exchange.