ChangeNOW Review – A Beginner’s Guide

Last updated: 8/17/21

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
Fees
Buying Limits
Supported Countries
Customer Support and Reviews
Conclusion

1. Company Overview

Registered as CHN Group Limited in Seychelles, the platform has been running since 2017 providing seamless swaps between digital assets. ChangeNOW also operates offices in Amsterdam, Netherlands, and aims to compete with instant exchanges like Changelly and ShapeShift.

Since its inception, ChangeNOW has established several partnerships with wallets and fiat payment processors. They also released their very own NOW token, which exists both on Ethereum and Binance Smart Chain.

2. ChangeNOW Services

The ChangeNOW exchange is available through its web platform, Telegram bot, iOS and Android apps, and a selection of 3rd party wallets.

The service does not require any account sign-ups making the vast majority of crypto-to-crypto transactions anonymous. Users are infrequently asked to verify their identity and source of funds, usually for larger transactions or purchases using fiat currency.

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 Kucoin. 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.

3. Currencies and Payment Methods

ChangeNOW supports over 250 cryptocurrencies, more than rivals like Changelly.

Add to this an astonishing 10,000 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.

Of course, this includes all the major coins – Bitcoin, Litecoin, Bitcoin Cash, Ethereum, XRP and Monero.

Visa and MasterCard purchases are available, facilitated by Simplex. and Guardarian. Beware though, they cost an eye-watering 7% or more. It’s probably worth avoiding and buying your crypto with a platform like Coinbase.

4. Fees

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 14.39 Ether
1 Bitcoin at normal market rates returns 14.55 Ether

About 1.1% more costly on ChangeNOW. Not extortionate, but costly for exceptionally large trades. For quick convenient trades however, it is certainly acceptable.

5. Buying Limits

ChangeNOW is a limitless trading exchange for crypto-to-crypto swaps. You can trade between cryptos until your heart is content. No single trade, daily or weekly limits which is an edge over the competition.

When it comes to fiat-to-crypto purchases, limits are based on ChangeNOW’s third-party fiat exchange providers. This restricts users to a maximum of $20,000 per day, and $50,000 per month.

6. Supported Countries

ChangeNOW is available worldwide. However, the exchange’s terms of use state that by accessing and using ChangeNOW you acknowledge and declare that you are not located in, or are not a citizen or resident of the following countries and territories:

Cuba
Iran
North Korea
Crimea
Sudan
Syria
USA
Bangladesh
Bolivia

The platform is available in 15 languages, making it a fully global anonymous trading exchange service.

7. Customer Support and Online Reviews

ChangeNOW’s customer support is impressive, which is exceptional for an area of the cryptocurrency industry that often disappoints. If the well-organized FAQ section doesn’t find you the answer you’re looking for, you can count on the online chat support or email options to get you a personalized answer.

My own inquiry made via the online chat function was answered almost immediately, which I found very impressive.

The website is simple and easy to use, and the team is building informational resources on all coin listings to help educate customers. 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 4.6 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.

8. Conclusion

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 for crypto-to-crypto, 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.

ChangeNOW

8.8

Ease of use

9.2/10

Fees

8.5/10

Online Reputation

8.9/10

Support

8.7/10

Pros

Wide variety of trading pairs
Quick turnaround
Very easy to use
Option for anonymity

Cons

A bit pricy for large trades
Credit card purchases are expensive

Visit ChangeNOW

Chris

December 16, 2023 at 20:33

2 Days ago i used the changenow.Io website to do a quick swap of icp to matic. I was quoted 287.54530766 Matic for 40.38705 Icp. Therefore i went through with the transaction… Sending from my ledger. From my end, the transaction went through with no problem. However, on their website it got stuck on “confirming”, even though it was confirmed on the blockchain long ago. I let it run overnight and in the morning it said: “the transaction was not completed. No worries, your funds are safe!” then it gave instructions on how to contact customer support. I did this. I was sent an email from their customer support, and began discussions about the issue. I gave them whatever information they required. After a few hours i heard nothing back from them. So i contacted them again to let them know i was growing impatient. They responded that they would notify me when their team could come up with an answer. Finally, it is the next morning and no word back yet.
On the blockchain it has gone through successfully. There is no doubt about it, they have received my money. Anyone can go here to see the transaction on the blockchain is completed successfully: transaction hash: 5cec614fa8f2a65daa3d259b9c8eab5c7e3f649c5c435cef5f5fabcddd14d80b

with that said, they did not ask me to kyc (which i would if necessary, as i have nothing to hide). The value of this transaction was about $280 usd, not enough to make me suffer financially, but enough to make anyone get upset about. This seems like a scam website. Users beware!

update # 1 (after 12 more hours)

customer support contacted me, and gave me a choice to either refund my coins, or put the transaction through using the latest quotes. I chose to put the transaction through using the latest quotes. They then respond to me that it would take up to 6 hours to receive. It is now close to 11 hours. Therefore, i send to them and ask them what is going on? they respond, asking me if i received their previous email {none exists) asking me to send them one icp if i wanted my refund address to be changed. I asked them no such thing! just send me my original icp to my original address! the incompetence is astounding! still waiting….

Update #2 (after 12 additional more hours)
now i get the story that they’ve been talking to someone via live chat that claims to be me, and has given them another icp address as a refund address, instead of the original one. To be clear to all concerned: only ever refund money to the original address that it came from. In this case, i i simply ask that my original icp are refunded to my original sending address. It is very clear, easy, fair, and secure for all involved. Yet they do not do this.

Update #3 — final verdict
they will not refund. Now they are back to the story that their provider is doing unscheduled maintenance again. It is excuse after excuse with this outfit. They stole my money. It is that simple. Stay clear of this outfit. It is a scam. I see they also scam their reviews. Please take note of the banner that trustpilot has also displayed about them. They are not following trustpilot’s terms of service. This outfit likely makes up fake reviews for itself. Be warned… Scam.