ChangeNow Review

ChangeNOW is a non-custodial cryptocurrency exchange that prioritizes user privacy and security. The platform allows users to connect wallets and transact without directly holding their funds, eliminating the need for individuals to register or pass through a stringent KYC process.

ChangeNOW was founded in 2017 in Mahé, Beau Vallon, Seychelles, and operates within the CHN Group. ChangeNOW has achieved significant milestones, serving over 1 million users from over 200 countries. It offers its services in 28 languages, making it accessible globally.

Services and Features

ChangeNOW offers a range of services and features designed to cater to both novice and experienced traders. These include crypto swapping, fiat-crypto on-ramp, ecosystem integrations, and enterprise integrations.

Swaps

ChangeNOW permits limitless swaps

The ChangeNow exchange offers crypto-to-crypto conversions or swaps. The swapping feature consists of the Instant swap and DeFi-based swaps.

The Instant swap feature allows users to exchange cryptocurrencies instantly without creating an account. Each transaction has an average timeline of 5 minutes to execute successfully.

The DeFi-based swaps grant users access to decentralized liquidity from platforms like Uniswap and Pancakeswap. This allows users to conduct cross-chain swaps with lower fees and simplified listings.

Users can choose the desired crypto pair and enter the amount to conduct a swap. The ChangeNOW platform generates a unique deposit address to which the user transfers. Once the assets are received, the platform processes them and sends the converted cryptocurrency to the wallet address.

Fiat-Crypto On-ramp

ChangeNOW supports fiat-crypto on-ramp

The ChangeNOW platform allows users to buy cryptocurrencies using fiat currencies via credit and debit cards. It currently supports around 60 popular fiat currencies like the USD, Euro, Canadian Dollar, and Australian Dollar.

To purchase BTC or any other cryptocurrency on ChangeNOW, choose the fiat option and the amount you want to purchase. Then, input and preview the details of your credit or debit card before confirming the transaction. Once the transaction is successful, you will receive the crypto asset purchased in your ChangeNOW wallet. You can also convert from crypto to fiat on the platform.

ChangeNOW PRO

ChangeNOW Pro

The ChangeNOW platform offers the PRO version, which allows users to access cashback, reduced fees, and AML address checks. The cashback starts at 0.1% of the transaction value, which is available for withdrawal and spending. The PRO feature also has a history section that helps you keep track of exchange activities. Assets can also be loaned when acquired to earn interest.

NOW Ecosystem

NOW Products

The ChangeNOW platform integrates multiple applications, such as the NOW wallet, tracker, token, and Telegram bot. 

The NOW wallet allows users to store, purchase, swap, and stake assets from a single interface. It is designed to be compatible with more than 40 blockchains, such as Bitcoin, Ethereum, Solana, and the Algorand chain. The wallet connect feature allows users to connect to other decentralized applications (DApps).

The NOW tracker enables users to conduct investment activities and manage their portfolios seamlessly. It lets users track their cold wallets, connect to custodial exchanges, add stocks, and manage NFT collections in real time.

The NOW token is the platform's native token, which users can acquire and stake to earn utilities and rewards. The tokens are issued on the Ethereum and Binance networks and are compatible with other networks like Polygon and Tron.

The Telegram bot allows users to conduct fast, streamlined transactions through Telegram without accessing the mobile or desktop app.

Enterprise Integrations

NOW Solutions

The ChangeNOW exchange provides integrations that allow businesses and enterprises to take advantage of the platform's features. This would enable the users of these platforms to access the currencies and competitive exchange rates of ChangeNOW.

The integrations include the API, exchange widgets, white label exchanges, permanent swap addresses, and the Telegram bot. Businesses can list their tokens on ChangeNOW and access numerous pairs on the platform.

It would allow cross-chain transacting and bridging, liquidity pool creation, and market-making functionalities. Enterprises would also have access to a referral feature that pays a percentage of the fees after each transaction conducted through their platform.

Supported Cryptocurrencies

ChangeNOW hosts over 850 cryptocurrencies and more than 20,000 trading pairs, providing users with extensive trading options. Some supported cryptocurrencies on the platform include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Tether (USDT), Cardano (ADA), and Solana (SOL).

It also supports less popular altcoins and tokens that have recently launched. The list of supported tokens is regularly updated, providing up-to-date access to emerging cryptocurrencies.

Trading Fees

ChangeNOW employs a competitive fee structure. Its standard fee is 0.5% for most transactions, and the fee range is between 0.5% and 4%. The exchange rate, market conditions, and the transaction's value influence the fee range. The platform strives to be transparent with no hidden charges.

Security and Regulations

As a non-custodial exchange, ChangeNOW provides adequate security mechanisms to protect users and communities during transactions. It uses the mechanisms and measures below:

• Non-custodial Model: By not storing or pooling user funds, the platform does not attract the attention of bad actors and hackers in the crypto space.
• Anti-Money Laundering (AML) mechanisms: Automated compliance checks are in place to prevent fraud and ensure regulatory compliance.
• KYC Procedures: While basic exchanges don't require registration, larger transactions may trigger identity verification processes to comply with AML and KYC regulations. The lack of basic KYC also protects users from identity breaches or theft.

Deposits and Withdrawals

As a non-custodial exchange, ChangeNOW automates most deposit and withdrawal activities. The platform accepts deposits using the NOW wallet and the permanent pair wallet.

The NOW wallet allows users to hold, swap, and withdraw assets like decentralized wallets. It also enables fiat transactions to be conducted through integration with third-party services for credit and debit cards.

The exchange does not hold users’ assets. Instead, users generate and transfer into a permanent pair address. These assets are automatically exchanged with the desired pair and withdrawn to the user’s wallet when confirmed. While ChangeNOW does not charge deposit or withdrawal fees, network fees may apply depending on the blockchain used.

How to Start with the ChangeNOW Exchange

The ChangeNOW exchange provides a streamlined onboarding process. Here’s how you can start:

• Visit the Website or Download the App: Access ChangeNOW through its website or mobile application.
• Select Your Transaction: Select the cryptocurrencies you wish to exchange and specify the amount. Then, provide an address for the destination assets. There are generally no upper limits on transaction amounts.
• Review and Confirm: Double-check the transaction details, follow the prompts, and finalize the transaction.

Pros and Cons

Pros

• Fast transaction times (average of 5 minutes)
• No account creation is required for basic exchanges
• Wide range of supported cryptocurrencies
• User-friendly interface
• Strong security measures using the non-custodial model
• Competitive fees
• Global accessibility

Cons

• Higher fees for fixed-rate exchanges
• Limited to no advanced trading options
• KYC requirements for large transactions may deter some users

FAQs

Can I use ChangeNOW on my mobile device?

Yes, ChangeNOW's mobile-friendly features offer a mobile app for convenient trading.

Are there any hidden fees?

ChangeNOW is transparent about its fee structure and does not impose hidden fees.

What are the fees for using ChangeNOW?

The fees range from 0.5% to 4%, depending on the exchange rate type and market conditions. The standard fee for transactions is 0.5%.

Is ChangeNOW safe to use?

ChangeNOW is considered safe due to its non-custodial model, robust security measures, and compliance with AML regulations.

‍