Changelly - Fast and secure way to exchange crypto currencies

Modified on Thu, 28 Jan 2021 at 10:40 AM

The BC Vault cryptowallet (v1.4 or higher) features complete in application integration with the Changelly exchange. Now you can comfortably and securely exchange between crypto currencies you hold on the BC Vault crypto wallet.

How to exchange the currencies?

With BC Vault everything is done without leaving the application itself and the funds will go directly from your BC Vault wallet to your other BC Vault wallet (or any other destination address if you so wish).

  1. Make sure you are using BC Vault firmware and application v1.4 or later

  2. Go to your wallet from where you would like to exchange your funds from.

  3. Click on the "Exchange" icon:

    NOTE: From v1.5.6 icon will be named "TRADE" and slider set on "EXCHANGE", as you can now also buy crypto, not only exchange (see: Purchase crypto currencies from the BC Vault Application).

    Select the destination currency and fixed of floating rate (both are explained below) of exchange and click "Next":

    1. Fixed rate - A fixed exchange rate is a rate that totally matches with the amount displayed to the user at the beginning of the exchange, independently from further rate volatility. Due to the volatile nature implementing fixed rates can be very risky for the exchange. Minimum amount for exchange is slightly larger than with floating rates. Your destination wallet will get exactly the advertised amount.

      PROS: You know the amount you are going to get from the very beginning of the exchange.
      CONS: You pay an extra fee for eliminating risks. If the market goes up during the transaction, the rate won’t raise along with it, hence you won’t get additional revenue.

    2. Floating rate - During the standard flow, any transaction has its own unique exchange rate. Due to the volatile nature of the cryptocurrency market, ever-changing network fees, the floating rate might change any other second. As a result, you might receive more or less than you thought you would. Your destination wallet will get approximately the advertised amount.

      PROS: As a rule when exchanging one crypto for another using the floating rate mechanism, the exchange service offers the best rate on the market plus the user pays the minimum possible fee. Moreover, if the market fluctuations play into your hands, you may get a more significant amount of the desired crypto than the amount that was displayed at the very beginning of the exchange.
      CONS: You should always take into account the volatility risks. As the rate may change both in positive and negative ways, you may either get some extra income or less than expected.

      More information on Changelly blog.

  4. On the next dialogue you will select the destination wallet on your BC Vault or type/paste an external wallet address. Clicking on the "To" field you will see a list of your destination currency wallets, you can simply select one.

    Type in the amount you want to exchange (note minimum amount for exchange) or use "Convert all" slider and then click "Next".
  5. Enter your source wallet password.

  6. You will be shown a confirmation screen of the whole exchange transaction. Make sure all the details are correct and confirm that you read and understood the Changelly TOC, click "Confirm".

    Notice: The exchange rate is valid for a set time (Offer Valid Until).

  7. Transaction will be sent to the BC Vault device and the "Device action required" screen will again display all the transaction details:

  8. Please recheck everything on the BC Vault device screen.

    BC Vault will check the Changelly transaction for a proper security certificate signature to prevent any possible fraudulent impersonations and display:

    Verified Exchange by

    If everything is OK scroll down to the bottom and select and click "Confirm".

  9. Enter your source wallet PIN and the exchange transaction will be executed.

    Note: Transactions can take from under a minute to more than 30 minutes (depending on which currency you are exchanging, due to blockchain processing times).

  10. You can see the exchange transaction details in source and destination wallet under "Transaction list":

About Changelly

Changelly is a non-custodial instant cryptocurrency exchange, which means that no users’ funds are placing in the service. Changelly acts as an intermediary between crypto exchanges and users, offering access to 150+ cryptocurrencies. The company mission is making the exchange process effortless for everyone who wants to invest in cryptocurrency. Operating since 2015, the platform and its mobile app attract over a million visitors monthly who enjoy high limits, fast transactions, and 24/7 live support.

Changelly Terms of Use.

Changelly Privacy Policy.

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