ChangeNOW is a fast crypto swapping platform that allows users to get custody of the favorite coins. Users can choose from more than 10,000 currency pairs and exchange them without registration or hidden fees.
The process is super-fast and seamless clocking 2 minutes in average trading fees. This post covers all this in more detail in our ChangeNOW review.
ChangeNow, Who Are They?
Table of Contents
- ChangeNow, Who Are They?
- What Is ChangeNOW & How Does It Work?
- ChangeNOW Services & Features
- Other Services
- How Do You Use ChangeNOW?
- Selecting Your Currency
- Recipient Wallet
- Complete Exchange and Receive Funds
- Is ChangeNOW Legit?
- How Secure Is ChangeNOW
- Verification: Is KYC Required?
- ChangeNOW, Any Fees?
- Fixed-Rate Vs Classic Rate
- Debit & Credit Card Fees
- Supported Countries
- ChangeNOW Mobile App
- Customer Support
- ChangeNOW Review Conclusion – Should You Swap
Founded in 2017 and headquartered in Seychelles and has offices in Netherlands Amsterdam. Little can be found on the true origins of ChangeNOW. The team is sprinkled across the globe with Ambassadors in Nigeria, Venezuela, Ghana, and business development folks in parts of Europe.
The goal of ChangeNOW is to make the process of exchanging major coins like Bitcoin in a convenient and simplistic way.
What Is ChangeNOW & How Does It Work?
ChangeNOW is a non-custodial service that allows users to perform crypto-to-crypto and fiat-to-crypto exchanges. Users can exchange how much crypto they want without having to register for an account.
Similar to other exchanges like Changelly or Uniswap the process of exchanging your crypto is instant. As average exchange times can take around two minutes to occur.
The way ChangeNOW works is through its integration into multiple cryptocurrency trading platforms which include Kucoin, Huobi, Binance, and Bitfinex.
At the point of trading, ChangeNOW chooses the best exchange rate on the market and offers it to its customers.
It doesn’t stop there below we offer a list of some of the other services ChangeNOW provides.
ChangeNOW Services & Features
Non-custodial service – This cryptocurrency exchange allows you to swap your crypto without storing your funds. So, users will retain 100% control of their crypto. A huge perk for those worried about security. As full custody reduces the risk of any fraud or theft from potential hackers.
Instant Crypto Exchange – ChangeNOW exchange is not only easy to use but fairly quick. With exchanges lasting 2 minutes on average and others lasting longer.
Fiat for Crypto – Users can exchange fiat for cryptocurrency. ChangeNOW will allow you to use traditional payment methods such as debit and credit cards to perform an initial purchase of crypto.
Best Trade Rates – Integration with multiple cryptocurrency trading platforms to keep rates low. ChangeNOW chooses the best exchange rate on the market and serves it to you at the moment of the trade.
Although it rates can differ depending on your choice of a Fixed Rate. With fixed rate, the same rate which is displayed maintains throughout the entirety of the trade. This regardless of normal market rate fluctuations.
Registration Free – ChangeNOW doesn’t require users to create any sort of accounts to perform swaps. With some exemptions to their risk management system.
Limitless Exchanges – You can swap as many Bitcoin or Ethereum. Users are able to exchange a limitless amount of times across 170 crypto coins.
Referral Program – Users who refer friends and family to ChangeNOW can get monthly payouts in Bitcoins.
NOW Token – Now Token is the first token launched by an instant exchange platform. It’s an ERC-20 token on the Ethereum blockchain and a BEP-2 token Binance blockchain. According to ChangeNOW, now tokens serve as an internal currency accepted within the NOW product system. Users can perform a plethora of actions with NOW Token like swap for other coins or staking.
NOWPayments – This service allows you to accept crypto payments on their websites, online stores, and social media accounts. As we mentioned with ChangeNOW exchanging capabilities, NOWPayments is non-custodial. Funds aren’t stored and the service can support more than 50 cryptocurrencies.
How Do You Use ChangeNOW?
Using ChangeNOW crypto exchange is easy and straightforward. The process of exchanging can be done in a few different steps.
Selecting Your Currency
As we explained earlier, you can choose from more than 10,000 currency pairs to perform an exchange. Some common pairs might be Bitcoin to Ethereum. Once you type the pair you want to be exchanged in both the “You Send” column and “You Get” click exchange to begin the process.
Type in your wallet’s address in the “enter Eth payout section“, this is the destination in which funds you’re swapped or buy will be received. Once the Recipient wallet address is typed in click “next” and continue to the confirmation page.
Confirm – You’ll be brought to a confirmation page to confirm all the information entered is correct and true to what you’ve placed in prior sections. Here you can see the estimated time of your coin’s arrival in your wallet. Also, the coin that was swapped and the number of other coins you’ll receive in a wallet address.
Complete Exchange and Receive Funds
Once you’ve gone through the whole cryptocurrency exchange process, funds will be going from ChangeNOW to your wallet. As you await the deposit it can take anywhere between 2 to 10 minutes to get your funds.
This time is predicated on current network speeds and can be longer for some coins.
Is ChangeNOW Legit?
Questions may arise as to the legitimacy of an exchange service that ChangeNOW provides. These concerns are adamant, as the exchange is only a few years old.
Yes, the services that ChangeNOW provides are legit and we felt confident using the platform to fulfill swaps and Bitcoin purchases.
The company has a history in the crypto space and customer review websites like Trustpilot show a healthy user base. Not to mention there are multiple avenues for customer support if any issue was experienced.
Understanding that ChangeNOW is handling your digital assets during swaps. It’s a good idea to start off with a low number of coins to swap and build-up as you gain confidence using the exchange service.
How Secure Is ChangeNOW
ChangeNOW has an experienced team of blockchain developers always finding ways to keep the platform secure.
Leveraging automated verification systems, KYC guidelines for certain users, or even a bug bounty program. ChangeNow clearly puts time and effort into maintaining heightened security levels.
The biggest security measure is the fact that it’s a non-custodial exchange service with no account registration. This voids users from sustaining major identification or financial theft.
Verification: Is KYC Required?
KYC verification isn’t required but if users are suspected of suspicious activity, they may have to go through KYC protocols.
KYC process is supported by an automated verification system. If transactions being made seem fishy, users are flagged and questioned to confirm their identity.
According to ChangNOW, the criteria or algorithm used to flag down suspected transactions can’t be shared.
Otherwise, people can game the system and try to work around their automated system. The system is said to work great against money launderers and scammers.
If you find yourself going through this KYC process, make sure you have proper forms of identification to make the process go smoothly.
Alternatively, customers can refuse KYC if transactions are flagged as suspicious. If KYC is refused ChangeNOW states that customers can expect a full refund to be forward back to their wallet address.
ChangeNOW, Any Fees?
Fixed-Rate Vs Classic Rate
As you enter the exchange details, you’ll likely see an option for a “Fixed Rate” and “Classic Rate”. The difference is found in rate fluctuations users can expect when going through the exchange process.
Fixed-Rate – Earlier in our ChangeNOW review, we mentioned that fixed-rate exchanges expose users to fewer price fluctuations. ChangeNOW sets down a small reserve to guarantee help lessen the flow fluctuations and give the user a more ideal price.
Classic Rate – With this exchange rate each transaction has its own unique rate. This due to market fluctuations that are based on market conditions, and network fees. Rates are subject to change at any moment and in some cases, prices can widely differ from Fixed rates in either a positive or negative way.
Debit & Credit Card Fees
Users can purchase Bitcoin with debit or credit cards. There are fees that come with using this method of payment. Fees can accumulate up to 5% at the time of writing. Big crypto purchasers will definitely feel these fees.
Overall, network and other process fees are baked into the overall price of each transaction. There’s nothing extra that gets added on. This keeps ChangeNOW competitive amidst other competition.
ChangeNOW global exchange that is available worldwide to its customers. With that being said, there are areas that ChangeNOW services are limited.
According to their terms and services users who use the website declare that they are not located in, or are not a citizen or resident of the following countries:
- North Korea
- United States
ChangeNOW Mobile App
Users can exchange cryptocurrency from ChangeNOW mobile app. Top coins like Ethereum and Monero along with 160+ others are all accessible on the app. Both android and iOS users can enjoy what the app has to offer. Customers have shared positive experiences with the mobile version of the exchange. The app has a flawless user experience and takes a few touches to get swaps or buys done.
ChangeNOW offers its customers several different avenues to receive adequate support on its platform. Customer support was highly touted by most customers and others took issue with the length problems were resolved. ChangeNOW customer support is 24/7 and users can also have chat features.
On their contact us page users can get in touch with the support team via email or telephone.
They’re active on social media channels like Twitter, Reddit, and Facebook. Customers can expect to see major news from the platform on these social channels.
ChangeNOW Review Conclusion – Should You Swap
ChangeNOW is a non-custodial service offering users a fast convenient way to exchange crypto-to-crypto or crypto-to-fiat currency.
Besides Bitcoin users can exchange and enjoy receiving a wide variety of supported cryptocurrencies.
No account registration is required which is great from a security perspective and helps users remain anonymous.
ChangeNOW is straightforward and user-friendly. As users can simply make a swap and receive crypto in a few minutes.
The fee structure is perfect for those looking to make a quick swap. They’re always adding new integrations with other third-party wallets that will only add to its ease of use.
Whether you’re using ChangeNOW to swap or buy a debit card the offerings are too good to ignore.