Reviews
Changelly Review: Should You Buy Cryptocurrencies on Changelly?
Changelly is one of the most popular cryptocurrency exchanges that offer users the opportunity to buy and sell a wide range of digital currencies and tokens. The exchange offers an easy-to-use service that combines user-friendliness, speed, and low fees. In this Changelly review, you will discover the benefits and drawbacks of this popular exchange and learn how to buy cryptocurrencies on Changelly.
Introducing Changelly
Changelly was launched in 2016 by the people behind MinerGate, a mining multipool service, and now has over one million customers that use its exchange.
When buying cryptocurrencies on the exchange, rates and the time of the transaction are made clear from the beginning. However, the rate given before the transaction being completed by the user is an estimation. This may not be the actual amount in crypto received, depending on the exchange rate at any given point in time (which can rapidly change when it comes to crypto).
Changelly gives users the option of choosing crypto-to-crypto exchanges and also allows users to exchange fiat currency to cryptocurrency by using a VISA, MasterCard credit or debit card. The service can be accessed by anyone anywhere in the world as long as their requirements are met.
How Does Changelly Work?
It is pretty easy to get an account at Changelly, the only thing you need to provide is your email address. Once you sign up, you receive an email confirmation with a password to log in with (make sure you change the password to make it more personal to you as well as more secure).
Next, there are dropdowns for you to select the two currencies you want to exchange. Then, put in the amount of currency you want to exchange from. Changelly will show an estimate of the amount of the new currency to be received. The exchange rate, the amount you will receive, and estimated arrival time is shown as well. Changelly also calculates and displays its 0.5 percent transaction fee leaving no room for confusion as you continue through the process.
Once this is done, enter the wallet address that you want your funds to be sent to. Check that this address is correct! There will be no way to get your cryptocurrency after the exchange is made if you enter an incorrect address.
Once you click on “Next”, the information entered previously shows up and you are asked to confirm that everything is correct. At this point, it is recommended to re-confirm the details of your wallet and amount. This is the last step to make sure your details are correct.
Finally, transfer the funds of the original currency to the wallet that Changelly provides. You can either do this by copying the wallet address listed or scanning the QR code at the bottom of the page.
You will receive a confirmation email once Changelly has received your funds. Expect to have the purchased cryptocurrency in your wallet within 5 to 30 minutes.
Identity verification is not needed for trade at Changelly, unlike at most other exchanges. The only limitations set are the ones designed for specific regions, and they are all removed after a month of using their services.
Cryptocurrencies Available on the Platform
Changelly has a high number of supported cryptocurrency. It offers over 100 different digital currencies and tokens. The swap transactions are available for all coins though they can be delisted in the future if little interest is shown for the particular altcoin.
Methods of Deposit
Changelly does not hold fiat money in the account balances of its traders. However, you pay for the coins and receive them in your wallet address instantly.
The acceptable fiat payment methods are credit or debit cards expressed in either USD or EUR. Wherever you are in the world, if you hold a valid bank card, you are eligible to purchase any coin from Changelly. The exchange claims that there are no fees on your purchase with the card, apart from the commission. The fees are added in as part of the exchange rate when purchasing coins.
Changelly’s Exchange Rate and Fees
There are two types of costs that one should keep in mind. First is the commission, charged at 0.5 percent of the transaction value and the other is the network fee. The network fee is a commission that a blockchain takes from the amount sent in each currency. If the amount is too low to cover the fees of the network, the transaction will not go through. The network costs are specified for each coin and do change on daily basis, depending on the trade volume.
These are the limitations put on credit-card based transactions:
- The UK, Canada and Australia – $200 limit for the first transaction, the next purchase could be made in four days (500$ limit), $3000 after seven days of the first buy. No more than three payments within the first week. No limits in one month at all.
- CIS region (Russia/Ukraine/Belarus/Kazakhstan/Armenia/Georgia) – $1000 limit for the first transaction. The next limit increase could be done in 24 hours. The total limit for the first week is $3000 and for the first month is $10000. No limits in one month at all.
- EU and other countries – $500 limit for the first transaction, the next purchase could be made in four days with $1000 limit. No more than 6 payments within the first week. No limits in one month at all.
Security
Changelly has two-factor authentication and funds are never stored on the site because all cryptocurrencies are processed to the respective wallets directly. Additionally, there is no confirmation via email to deal with the site and all transactions are anonymous.
Conclusion
Changelly’s features make it very easy to use, even for first-time cryptocurrency buyers. The platform takes you through the process step by step and you make your first purchase within minutes of signing up.
Moreover, the fact that Changelly supports so many digital currencies and tokens and does not require you to verify your identity when you trade, has made it a popular digital asset exchange.
If you want to buy or sell digital currencies and tokens on Changelly, sign up to the platform here!
*Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this article.*
The Coinfinity Card Wallet is a unique cold storage solution produced in Austria. This Coinfinity Card Wallet review will explore what it is and whether you should use it to store your bitcoin.
What is the Card Wallet?
The Card Wallet is a cold storage device developed by Bitcoin broker Coinfinity and the Austrian State Printing House. It allows users to safely store bitcoin (BTC) in a tamper-proof card, long term.
Unlike online wallets that can get hacked, the Card Wallet is offline, thereby, protecting users’ digital assets from online attacks. Moreover, it’s easier to use than most hardware wallets which typically require technical knowledge to set up, and regular updates.
The Card Wallet is available for purchase on its website or at Bitcoin broker Coinfinity’s physical office in Graz, Austria. The wallet’s creators have developed two separate wallets for bitcoin, retailing at € 39,90.
Keep in mind that the Card Wallet is for long-term storage. Therefore, it’s not ideal for the regular use of crypto assets. Although the Card wallet looks like a debit or credit card, you cannot use it at a point-of-sale terminal because it doesn’t have a magnetic stripe or chip.
How Does the Card Wallet Work?
Upon receiving the Card Wallet, you’ll notice that the wallet’s address is printed on the card’s surface. You can use this address to send BTC from a bitcoin exchange or another wallet to the Coinfinity Card Wallet.
The private key is printed on the back of the card but sealed for security purposes. Don’t remove the seal since the private key enables you to unlock your coins should you ever need to transfer or sell them. If you leave it exposed, someone else could use it to steal your cryptocurrency.
A step-by-step process of transferring coins from a Card Wallet
Here’s how you can transfer your coins from a Coinfinity Card Wallet.
- First, get instructions from your wallet app provider on how to empty private keys using the sweep function.
- Once you have the guide, go to a safe place where you can transfer the coins from the Card wallet to an online wallet app. For instance, avoid places with cameras that could pick up your wallet’s private key. Also, use a secure and virus-free device.
- Open the wallet app and initiate the private key import.
- Scratch off the seal to view the Card Wallet’s private key.
- Scan the QR code to import your private key. The wallet will activate the sweep function. If this doesn’t happen, start it manually.
- If you can, set a high transaction fee so that your transaction can be confirmed as quickly as possible.
- Reseal the private key with a Chainlock Visual Cover or opaque tape. Don’t forget to back it up before resealing.
- Check the wallet app for the successful transfer of your coins. If your assets are in the wallet app, it means your Card Wallet is empty. Additionally, it indicates that your coins are now under a different public key (wallet address). Nonetheless, the private key remains the same.
Stay Safe
You must not use the Card Wallet after private key importation because its offline security will be lost. As a result, you’ll need a new Card Wallet for long-term storage. However, you can maintain the offline security of the Card Wallet by using the provider’s coin transfer service.
Card Wallet’s security experts import the private key on an air-gapped offline computer, maintaining the offline security of the Card Wallet. You can contact Card Wallet’s customer support to request this service.
How Does Card Wallet Keep Your Funds Secure?
The Card Wallet’s developers use Secure Entropy Technology (SET) to randomly generate private keys. The wallets are also manufactured in an isolated offline system in a highly secure room of the Austrian State Printing House.
The cards’ private keys are sealed before leaving the production machine and erased. Therefore, the workers inside the room never see the private keys, ensuring privacy and security for Card Wallet users.
Should You Use the Coinfinity Card Wallet?
Yes.
Card Wallet is affordable and maintains a high level of security thanks to the SET method that the manufacturers use to generate private keys.
The Austrian State Printing House has more than 200 years of experience producing security and identity documents with exceptional security standards. This guarantees the Card Wallet users nothing but the best security.
Moreover, the Card Wallet is easy to use since it doesn’t require a technical setup process or any setup at all. The private key importation procedure is also pretty straightforward, and anyone can do it. To get your hands on a Card Wallet, click here.
Buroka is a new breed of cryptocurrency exchange for Africa! Currently operating in Nigeria, Buroka was designed to fulfill the needs of modern Africans. Buroka allows customers to buy and sell Bitcoin with Naira via Local Transfers and cash deposits at the bank. In this Buroka review, you will learn more about the exchange and how you can use it to buy bitcoin in Nigeria.
How to Buy Bitcoin on Buroka
Step 1: Account Creation
To create an account, visit Buroka.com and hit the “Register” button. This will lead you to a page where you will be asked to fill in your personal information, including your name, email address, and password. Like any other serious exchange, Boruka will ask you for your ID, Proof of Address, and to take a selfie with your ID to eliminate fraud.
Step 2: Fund Your Account
Funding your account on the platform is straightforward. You can deposit either via bank transfer or at any bank branch. Make sure to use a unique reference code given to you by Buroka deposit system.
Step 3: Buying and Selling BTC
Once your deposit has been credited to your account you can immediately buy your Bitcoin. The buying and selling tab is located on the top right corner of the dashboard. There you can input the amount of bitcoin you want to buy. Once you do that, you then click on the “BUY BTC” button.
Step 4: Storing Your BTC
After buying BTC, Buroka provides users with the option of either storing bitcoin on the platform in a BitGo wallet or any other wallet of their choice.
Currently, Buroka only supports bitcoin (BTC). However, the exchange plans to include other cryptocurrencies going forward.
Security
Buroka exchange makes use of Two-Factor Authentication (2FA). 2FA provides an extra layer of protection for users. With the 2FA in place, an extra piece of information is needed before login into the platform or making any withdrawals.
In addition, Buroka’s platform is also protected using the latest security technology, including web-socket and API protocols that allow for a fast and secure order processing. Buroka also makes use of a well-updated SSL certificate, which makes it easy to detect a phishing attempt.
To further ensure that clients’ funds are secure, Buroka operates segregated accounts. These accounts are held with trusted banks so that clients can enjoy an extra layer of security provided by the banking system.
Conclusion
Buroka is a relatively new Bitcoin exchange with a well-designed, user-friendly interface. The Bitcoin trading platform provides several deposit options, which is attractive for Nigerian Bitcoin traders, as well as competitive market rates for both buyers and sellers.
If you are looking to buy or sell bitcoin in Nigeria, you can give Buroka a try.
Introducing Noones – Africa’s P2P Super App
Why Crypto’s Leading the Way in Africa’s Evolving Finance Landscape
The Rise of Bitcoin in the Online Gaming World
Unlock the Thrills of NHL Crypto Betting and Live Streaming
Understanding the Impact of Cryptocurrency Volatility on NBA Betting Markets
The Future of Crypto College Football Betting: Trends and Predictions
How Mobile Apps are Changing Sports Betting
Weekly Roundup: Africa’s Cassava Network Partners with UniPass to Expand Crypto Adoption in Africa & More
Weekly Roundup: Kenyan Senate in Discussion with CBK to Legalise Bitcoin & More
Weekly Roundup: South Africa Introduces New Cryptocurrency Standards to Advertising Code & More
-
News2 years agoWeekly Roundup: Kenyan Senate in Discussion with CBK to Legalise Bitcoin & More
-
News2 years agoWeekly Roundup: South African Crypto Exchange VALR Launches in Zambia & More
-
News2 years agoAmber Group’s April Corporate News Recap 2022
-
News3 years agoWeekly Roundup: Congo-based Web3 Startup Jambo Raises $7.5 Million in Seed Funding & More
-
News3 years agoWeekly Roundup: Kenya Capital Markets Authority Set to Pay More Attention to Cryptoassets
-
News3 years agoWeekly Roundup: Kenya, Zimbabwe & Zambia Are All Exploring CBDCs
-
News2 years agoWeekly Roundup: NairaEx Calls for More Industry Policies, FlexID Secures Algorand Funding & More
-
Features2 years agoAmber Group Announces Q3 2022 Launch of Openverse, the Gateway Into the Metaverse