Changelly is primarily a cryptocurrency exchange platform and aggregator that brings the best exchange rate by analyzing a series of centralized exchange prices (CEX).
In addition to cryptocurrency conversion, Changelly allows users to buy and sell cryptocurrencies with ease.
Changelly partnered with Mercuryo to sell cryptocurrency. Users can sell cryptocurrencies and withdraw in USD or EUR based on their bank’s acceptance of the fiat currency.
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Things You Need to Have to Sell Crypto on Changelly
To sell cryptocurrency to Changelly, you need two of your IDs of which one must be a passport (or any national ID). Along with this, get ready to take a selfie.
So, you will need your bank account details/card details to receive fiat currency after selling cryptocurrencies.
And you will have to enter the wallet address of the particular cryptocurrency that you have chosen for sale. This will act as a refund address in case the transaction fails.
How to sell cryptocurrency on Changelly?
To sell cryptocurrency on Changelly for fiat currency, first, you need to set up crypto and fiat currency pairs.
Then, complete the email and identity verification.
Next, you need to choose the payment option and provide the refund crypto wallet or exchange address.
Finally, send the cryptocurrency you want to sell to the wallet address displayed on the screen and wait a few minutes to receive your fiat currency.
Steps to Sell Cryptocurrency on Changelly
- Go to “Sell“
- Set up Crypto and Fiat currency pairs
- Complete Mercuryo email verification
- Verify your identity
- Choose your payment method
- Enter your refund address
- Send Crypto to Mercuryo Wallet
- Wait for the transaction to complete
1. Go to “Sell“
Visit changelly’s website and bookmark it to escape phishing attacks.
Once you are on the website, go to “Sell” and click “Sell Crypto“.
2. Set up Crypto and Fiat currency pairs
After entering the “Sell” section, you need to set the cryptocurrency and fiat currency for this sell order.
For example, if you want to sell ETH, you need to select it in the first section and enter the amount.
Next, select the fiat currencies, USD or EUR, in the second section and click “Sell“.
3. Complete Mercuryo email verification
Next, Changelly’s crypto sales partner, Mercuryo, needs your email for verification.
Enter your email address and select the checkbox provided after reading “Privacy Policy” and “Cookie Policy“.
Now, click on “Send Code“.
In this way, you will receive the verification code to your entered email address. You must enter that code within the seconds indicated.
4. Verify your identity
Mercuryo will verify your identity after email verification.
Identity verification is a 3-step process that can be continued even on the mobile phone by scanning the QR code provided.
The first step in identity verification is to provide the first two pages of your passport (or any national ID).
Keep in mind that the photo you’re about to upload must be bright and clear. In addition, all four corners of the photo must be visible.
After uploading your passport photo, click “Confirm and proceed“.
Next in the identity verification process is to take a selfie with the document you uploaded earlier.
The final step is to load the first page of the second document. That’s all.
5. Choose your payment method
Next, you need to choose a payment method to proceed further. There are two options: cards and bank accounts.
We suggest that you choose card payment on bank accounts as bank transfers may be subject to holidays. Currently, Mercuryo accepts Master Cards and VISA cards.
If you have chosen to receive card payments, you must enter your card details now.
6. Enter your refund address
Now, the Mercuryo will ask the crypto wallet or exchange address to refund the cryptocurrency if the transaction fails.
Once you have entered the address, click “Continue“.
Then, you need to choose the refund options.
Since the transaction involves some block confirmations, it may take up to 10 minutes to receive money on your card. In the worst cases, it may take longer.
So, during this period the exchange rate is subject to change.
If you are selling a small amount of cryptocurrency and do not worry about price deviations, you need to choose the “Unconditional Payment” refund option.
If you are selling a large amount of cryptocurrencies and do not want to sell if the price moves more than 5%, you need to choose “In the range of 5%“.
Then, click “Continue“.
7. Send Crypto to Mercuryo Wallet
Now you will be able to see the details of your order along with the platform fee which is 5 USD for $1,000.
Just below the details, you can see the address of the Mercuryo wallet to which you need to send the cryptocurrency you want to sell.
8. Wait for the transaction to complete
After sending the cryptocurrency to the Mercuryo wallet address, wait for a few seconds to a few minutes.
Once the transaction is complete, you will receive your money on your card.
Usually, it takes less than 10 minutes to receive money on your card if you sell cryptocurrency on Changelly. However, if the blockchain is congested, it may take longer.
Here’s how you can sell your cryptocurrency on Changelly.
conclusion
Selling cryptocurrency takes a while compared to buying cryptocurrency in Changelly. This is due to identity verification and transfer of cryptocurrencies to the specified wallet address.
The overall fee for crypto-fiat transactions on Changelly is approximately 6.5%.
frequently asked questions
1. How to Fix “Transaction Blocked by Anti-Fraud” Error When Selling Cryptocurrencies on Changelly?
The “Transaction blocked by anti-fraud” error will pop up while you’re trying to sell your cryptocurrency, particularly when you’re trying to submit your card details.
This is because your identity is not verified by the Changelly and Mercuryo teams. If you receive a “Transaction blocked by anti-fraud” error, you have to wait a few seconds to 1 or 2 minutes. Once both teams verify your identity, you’re good to go.
