In another topic I briefly talk about coinbase. If you are new to crypto and don’t know about wallets or really understand anything about what you are doing then coinbase can help you get started. Over time though you will likely discover many different crypto currency options that coinbase just doesn’t support. Coinbase supports the big 3 or the major liquid currencies of Bitcoin, Ethereum, and Litecoin. Changelly on the other hand handles hundreds of Cryptocurrencies.
You can buy the same currencies direct with a credit card just like you can on Coinbase. The thing that is super cool about changelly is that you can then convert those newly acquired crypto currency into your favorite currency fast.
You can select what you have and what you want to convert it to. This is excellent for beginners and people just wanting to own a currency for the first time. The exchange rates are sometimes not as awesome as you could possibly buy on a full exchange. But full exchanges have their own nuances that can cost you alot also like minimums and exchange fees like stock trading platforms.
You will need the wallet of the currency you are wanting to buy and if you decided to trade it for another currency you will need that wallet also. It comes in handy for a quick trade between 2 crypto currencies fast. For example. Let’s say you first bought Litecoin or LTC the symbol of Litecoin and then decided that you really need Ethereum because the website you want to buy something on accepts ETH but not Litecoin. You would generally need to sell your LTC for USD or Bitcoin. This would require a sell order on an exchange generally. Once the sell order went though you could then place a buy order to buy the ETH you need.
This can be confusing and a long process. Changelly makes this process super simple… You can input the amount of Litecoin you have and it will tell you how much ETH if converts to. You can click and the easy wizards walks you through the exchange process. You can quickly see what the value of USD or EUR is to the currency you want to purchase.
I have used Changelly alot over the last year for fast exchanges from one currency to the other and have not been let down. For me it is a convenience verse going to an exchange like bittrex or kucoin and making buy and sell orders and swapping currency this way. Of course atomic swaps are becoming popular. Some android and IOS apps allow for currency swaps or exchanges within the apps now. I believe Coinomi and IMtoken allow for something similar to an exchange between users or exchanges. Sometimes these apps are making it easier for people to convert currencies into their native currency or other crypto currency. For many this will be the way to get started.
Just download the apps and get started fast.