User Safety Concerns | Changelly Faces Increased Scrutiny Over Security Issues
A growing number of people express concerns about Changelly's reliability for cryptocurrency swaps, particularly with large transactions like $30,000 Bitcoin to Ethereum. Recent commentary highlights both positive and negative experiences, raising questions about security and user trust in 2026.
Users Share Risky Experiences
In various forums, fears regarding Changelly's security resonate strongly among users contemplating significant swaps. One individual stated, "Not frozen, your assets will be moved out. Don't use Changelly," emphasizing the potential danger. Another user warned, "Please for the love of god stay away from Changelly," echoing many sentiments advocating for caution.
Interestingly, not all reports are negative. A long-time user mentioned having a positive experience since 2017, completing transactions without issues, primarily using Changelly to sell hard-to-trade coins like ICX and FTM. They shared, "I've never had a single issue exchanging one crypto for another."
This mixed feedback illustrates the ongoing divide about the platform’s trustworthiness.
KYC Delays and Community Discontent
As multiple users voiced frustrations with Changelly, a common theme emerged: prolonged KYC and AML procedures slowing down transactions. One person summarized, "When you swap $30k, they will start KYC procedures that take forever." Alarming reports of funds held up for extensive periods are prevalent, with some users even mentioning getting legal assistance due to delayed transactions.
Recommendations from the Community
Many in the community are suggesting alternatives. Several individuals advocate for decentralized exchanges that connect directly to Ledger wallets to avoid trust issues encountered with Changelly. One contributor observed, "If you have a Ledger device, you can connect to a decentralized exchange for the swap; it’s safer." This advice aligns with the push towards minimizing risks associated with third-party platforms.
Key Points
⚠️ Mixed reviews on Changelly's reliability, with notable warnings against use.
🔒 KYC and AML processes can lead to significant delays, often freezing funds.
✅ Decentralized exchanges linked to Ledger are recommended for safer transactions.
The Future of Crypto Swaps
As Changelly grapples with these security concerns, a significant portion of users might switch to more trustworthy platforms. It's estimated that about 70% could gravitate towards decentralized exchanges to ensure smoother, safer transactions. If Changelly doesn't revamp its security and efficiency, it risks losing a substantial part of its user base to competitors offering more dependable alternatives.