ChangeNOW Crypto Exchange Review

Rating: 4.5/5

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What Is ChangeNOW?

ChangeNOW is a cryptocurrency exchange service with an excellent selection of assets, lots of convenient services and high-quality technical support. Here is an excellent choice of currencies, many convenient services and, as users assure, competent support.

Criteria

Value

Site

Social Media

Date of foundation

2021

Number of cryptocurrencies

190

Types of cryptocurrencies

Bitcoin, Bitcoin Cash, Cosmos, DASH, QTUM, Litecoin, Ripple

Types of support

E-mail: [email protected]
Chat
Online feedback form
Help Center

Languages

English, French, Spanish, Russian, Turkish

Why ChangeNOW

Why ChangeNOW

The ChangeNOW service is convenient because it offers 2 types of transactions: fixed-rate and standard.
This is the most convenient way to exchange one virtual currency to another:

  • the commission is minimal;
  • no limits;
  • less confirmation of contact information is required.

With fiat it is more complicated, and it is not always supported, and in the list there are only euros. To help the user, the website changenow.io contains a large number of reference and analytical materials to help choose the right moment to make a deal.

The choice of assets is impressive: cryptocurrency, fiat, tokenized uk. - About 200 in total. The list of pairs supported in a given interval is reflected in a special table. There is a convenient mobile application for use with Android devices and an extended referral program with free widgets, buttons and API for its members.

How to buy cryptocurrency on ChangeNOW

To buy cryptocurrency at ChangeNOW you do not need to register. Simply open a form on the changenow.io home page, select the type of transaction (Classic Rate/Fixed Rate - a fast transaction without rate fixing or a fixed transaction requiring time to process), buy/sell units and click Exchange.

How to buy cryptocurrency on ChangeNOW

The system redirects us to the form, where we need to enter the initial data again. And also to specify the details, from which the funds will be transferred. Important point: the currency pair you need at this stage may not be available. For example, we were unable to exchange bitcoins to pounds.

Exchange Crypto

After the above steps, the wallet key is checked so that you do not send assets to non-existent details. Then you check the details of the order, confirm everything, and the application is sent.

 All that remains is to pay. The standard payment form includes an indication of sex, card number, expiration date, holder's name and CVC/CVV code, as well as the billing address and contacts of the recipient. It concludes with confirmations: phone number, email. And finally, it all culminates in the verification of identity.

Verify phone number

Verification on ChangeNOW

Verification on the ChangeNOW platform implies the provision of documentation confirming:

  • Identity - scan of passport, driver's license or ID-card of your choice.
  • Place of birth - a receipt of payment for utilities, internet, telephone and any other certificate that clearly shows your full name and address of residence. The main thing is that it must be issued not earlier than 3 months by the time of the inspection.
Verification on ChangeNOW

You also provide your personal information: Name, date of birth, gender, country of residence and ID number. After going through the procedure, the completed transaction request is sent for processing.

Know Your Customer and Anti-Money Laundering Policies

Although ChangeNOW is positioned as an anonymous or private exchange, it must comply with the rules. As such, ChangeNOW uses an automated risk prevention system.

The system looks at all transactions, and if yours is flagged as suspicious, the swap is suspended. The customer is then asked to verify their identity.

Each KYC case is handled individually, but requires basic KYC documentation:

  • High-quality photo ID
  • Source of funds deposited
  • A selfie of you holding an identification documen

Once these documents are received and verified, the swap is completed and the funds are transferred to your wallet.

ChangeNOW requires an AML / KYC procedure if the transaction has been flagged as suspicious by an automated risk prevention system. The company does not disclose the set of criteria this system uses, because if it is made public, there will be people who will try to abuse these criteria to cheat the algorithm. If you do not agree to go through KYC, your funds will be returned back to your wallet.

Trading Commission on ChangeNOW

In most cases, the ChangeNOW fee is simply included in the rate and is not stipulated additionally. However, if you buy/sell cryptocurrency from a bank card, there will be another intermediary between you and the service - Simplex (responsible for statistical reporting to the authorities), so each transaction is charged 5% by the processing organization itself and another 1% by the exchanger itself.

Terms of buying cryptocurrency on ChangeNOW

The platform can be used by any adult and legally capable person who is not a resident:

  • Cuba,
  • Iran,
  • North Korea,
  • Crimea,
  • Sudan,
  • Syria,
  • United States (including Puerto Rico, American Samoa, Guam, Northern Mariana Island, and the U.S. Virgin Islands: St. Croix, St. John, and St. Thomas),
  • Bangladesh,
  • Bolivia

and any region that is subject to UN sanctions.

Advantages and disadvantages of  ChangeNOW crypto exchange

Advantages

Disadvantages

  • Wide range of assets
  • Rate fixing during application processing
  • No limits for all deposits/withdrawals except cards
  • A lot of useful information
  • Mobile application
  • Affiliate program
  • No information about the company and license
  • Slow requests processing, frequent delays and cancellations
  • Not all currency pairs available

Conclusion

Cryptocurrency exchange ChangeNOW can be considered quite reliable. It is a great service for private and instant cryptocurrency exchanges. It has excellent customer service, an experienced team, great rates and a well-designed service that is easy enough to use for anyone interested in buying or trading cryptocurrencies. If problems do arise, they are usually purely of a technical nature. A minus can be considered the fact that from time to time many declared currency pairs do not work.

Jack Evans


I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments.
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