Reading: Changelly Boosts Altcoin Trading with ‘Best Rate’ Tools

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Changelly Boosts Altcoin Trading with ‘Best Rate’ Tools

Ryan Strauss | Dec 02, 2016 | 03:46

Bitcoinist Changelly Reviews

Changelly Boosts Altcoin Trading with ‘Best Rate’ Tools

Ryan Strauss | Dec 02, 2016 | 03:46


Changelly, a cryptocurrency exchange, is part of a growing movement to enable easier access and informative decisions for new users to trade altcoins.

Also read: Bitcoin Price Activity Hints and Pending Growth in Stability

Changelly Taps CoinGecko & CoinMarketCap

Changelly providers CoinGecko and CoinMarketCap users with an option to instantly buy a cryptocurrency without leaving their websites. Each crypto page on these platforms has its own quick Changelly button “Buy/sell instanly” Coingecko and CMC users with an option to instantly buy a crypto without leaving their websites. Each crypto page on these platforms has its own quick Changelly button “Buy/sell instanly.”

Changelly

Thus, Changelly is a ShapeShift-like exchange service, where a user can exchange currencies at the most profitable rate, which are displayed on their website.

Natively displayed information helps users decide how to directly trade any two pairs of altcoins for one another. Given the tendency to price and value altcoins in terms of Bitcoin, when swapping altcoins directly investors need to do extensive research to accurately quantify their order levels. As a result, there are less liquidity in most of these trading markets. Direct trading of altcoins remains a valuable experiment for the industry to learn if a restriction-less trading environment can lead to a truer market pricing environment for altcoins.

Better Tools for a Bigger Picture

Currently there are more than 25 altcoins supported on the Changelly exchange. Ethereum, Monero and Ripple lead in trading volume among altcoins, said Maret Avik of Changelly. There is a reasonably high trading cap of 50 BTC per transaction, allowing both small through relatively large volume traders to participate, who for each trade incur a flat fee of 0.5%. Avik added:

We have a clear and comprehensive interface, where every user who has any amount of cryptos may exchange them at profitable rates in a few clicks without jumping into technology aspects and tricky bid-ask orders, like on Poloniex and other trade platforms.
bitcoin price
Changelly is connected through its API to the largest crypto trade platforms like Poloniex and Bittrex. The system searches, compares and suggests the best rate at the given moment by sending direct requests to the platforms. Rates are determined by the trade robot making a great number of orders in real time to provide as good rates as possible. This data is displayed to the users on the homepage.
With a growing number of options to choose from, such as ShapeShift, the opportunity to trade altcoins is becoming possible for a larger swaths of the world’s population, with easier tools as levers.
What do you think about this as an exchange? Share your thoughts in the comments below!

Images courtesy of Pixabay, Changelly, shutterstock


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