ChangeNOW Review – A Beginner’s Guide
Last updated: 9/22/20
ChangeNOW is a crypto-to-crypto and fiat-to-crypto exchange service that allows for fast, anonymous transactions. This post covers the company, its services and what existing customers think about it.
ChangeNOW Review Summary
ChangeNOW is a fast, user-friendly crypto-to-crypto and fiat-to-crypto exchange service. The company offers a simple and affordable solution for swapping between cryptocurrencies via their website, Telegram bot, and apps. For larger traders and credit card purchases its probably best to use a different exchange as fees can add up.
Overall it seems that the company is doing a great job in maintaining its reputation and supporting its customers.
That’s ChangeNOW in a nutshell. For a more detailed review keep on reading, here’s what I’ll cover:
- Company Overview
- ChangeNOW Services
- Currencies and Payment Methods
- Buying Limits
- Supported Countries
- Customer Support and Reviews
Registered as ChangeNOW International Ltd in Seychelles, the platform has been running since 2017 providing seamless swaps between digital assets.
The service does not require any account sign-ups making the vast majority of transactions anonymous. Users are infrequently asked to verify their identity and source of funds, usually for larger transactions.
The web platform is simple and easy to navigate even for a first time cryptocurrency trader. The homepage gives immediate direct access to the exchange feature and all users need to trade is a cryptocurrency wallet supporting multiple assets.
Trades are speedy with the vast majority completing in 2 minutes. Some exchanges may take up to 40 minutes.
The mobile apps run in a similar way to the web-platform, if not even slicker. Users dropped right into the trade page of the app with no pesky sign-ups or tutorials. The Telegram bot works in a similar way – you start it, pick the assets that you would like to exchange, and get going. You hardly need any help it’s so simple.
ChangeNOW claims to be a non-custodial service which means it doesn’t store your funds. Customers are only required to deposit their coins to a ChangeNOW wallet address to make the swap. Funds don’t sit there for long though – they are released right after the exchange has been made.
A forward-thinking product feature is built-in functionality to wallets like Guarda. Guarda’s users have the ChangeNOW facility built directly into their wallet allowing simple coin swaps without having to transact outside their own wallet.
ChangeNOW also aims to give you the best industry exchange rates selecting the leading price from major exchanges like Binance, Huobi, OKEx, Bitfinex and Bittrex. Be aware though, a spread is applied on top of this rate so you may find better prices by using these exchanges directly, provided you know how to trade.
ChangeNOW supports over 200 cryptocurrencies, more than rivals like Changelly.
Add to this an astonishing 13,000 trading pairs and you’ve got some amazing power. Removing the need to run through multiple trading pairs to get your desired coin or token.
All fees are built into the exchange rate you are offered. What you see is what you get, including blockchain fees. No hidden deposit or withdraw fees which is pleasing.
ChangeNOW does make money from a spread on the exchange rate though. It’s hard to see how much, but I took a look at their rates compared to market rates. At the time of writing:
- 1 Bitcoin on ChangeNOW returns 34.19 Ethereum
- 1 Bitcoin at normal market rates returns 34.64 Ethereum
Just over 1.3% more costly on ChangeNOW. Not extortionate but costly for exceptionally large trades. For quick convenient trades however, it is certainly acceptable.
ChangeNOW is a limitless trading exchange. You can swap cryptos until your heart is content. No single trade, daily or weekly limits which is an edge over the competition.
- North Korea
The platform is available in 28 languages, making it a fully global anonymous trading exchange service.
ChangeNOW’s customer support is impressive, which is exceptional for an area of the cryptocurrency industry that often disappoints.
The website is simple and easy to use. The team is building informational resources on all coin listings to help educate customers.
Phone numbers are freely on offer to get direct access with any queries, plus they answered my email request in under 5 minutes and Facebook message in 1 hour!
Its social media streams are live and full of helpful content from a well-maintained blog.
The general public appears to be happy with the service too as TrustPilot records an 4.8 rating out of 5. Reviews are legitimate, from established accounts. Even users who encounter problems rate the service favourably. Perhaps thanks to a support team who are responsive and helpful to issues.
Forums talk positively of the service which is refreshing to read as places like Reddit can be filled with angry customers.
A scam allegation does exist against ChangeNOW, but on further research, it doesn’t appear valid. Although alarming, a user who was having issues receiving his funds from a large trade used faked identity docs to verify his transaction and source of funds.
ChangeNOW offers a limitless, fast, simple crypto-to-crypto and fiat-to-crypto trading exchange combining a huge range of assets. The platform is convenient and not overpriced. Trades are fast, reliable and anonymous which is perfect for people looking to switch coins and tokens quickly.
Keep in mind that if you are looking to make larger trades it may be wise to spend a little extra time on cheaper, albeit more complex platforms.
The company has a bright future as it continues to integrate with 3rd party wallets, adopt a native token and create merchant payment systems.
Have you used ChangeNOW? I’d love to hear what you thought about it in the comment section below.