ChangeNOW Review—Your 2024 Tokize Guide

Launched in 2015, ChangeNOW is a platform for users to buy or convert cryptocurrencies. Here is our ChangeNOW crypto review and the various features of this exchange in 2024.

What is ChangeNOW?

ChangeNOW is a non-custodial crypto exchange that simplifies transactions without requiring users to store funds on a website. No deposit is necessary. The platform enables quick and secure purchases of crypto without going through traditional-registration procedures.

The exchange gives you access to over 700 different cryptocurrencies and theoretically imposes no limits on transaction volumes. On ChangeNOW, traders can swap over 13,000 trading pairs.

Moreover, the platform offers cryptocurrency purchases by fiat—through Visa/Mastercard credit cards. This option helps beginners get their first cryptocurrencies.

Incorporated as CHN Group LLC in Saint Vincent and the Grenadines of the Caribbean, the exchange also has offices in Utrecht, Netherlands, displaying a clear and transparent legal framework thus boosting its credibility in the cryptocurrency ecosystem.

Like many exchanges of its kind, ChangeNOW also has its own token called NOW. It’s used for transactions within the platform, which offers various benefits.

Advantages of ChangeNOW

ChangeNOW stands out for several reasons, making it attractive to investors. First, the user interface is simplistic. Even beginners easily navigate and conduct transactions there.

The platform is also non-custodial, meaning users aren’t required to deposit their funds on the platform, which increases security AND privacy. There’s no need to register before using the site’s features or buying crypto. Only a wallet is needed.

ChangeNOW has a wide range of over 700-crypto assets, allowing users to diversify their portfolios. It supports over 50-fiat currencies and accepts payments via Visa and Mastercard. 

Despite the logos on its site, Revolut, Apple Pay, Google Pay, and bank transfers do not seem to be supported though payment partners may offer these based on your location.

The platform claims over 1-million satisfied customers worldwide.

It boasts of providing the best possible rates by real-time market monitoring, enabling it to capture the best offers available at the time of an exchange. ChangeNOW has nearly a 98% success rate in crypto swaps.

In terms of transparency, ChangeNOW displays its fees clearly. 

Fiat-transaction costs are shown before each transaction to avoid any surprises. Speed is also a key feature, having an average transaction taking only 5 minutes according to its site.

ChangeNOW is supported by wallets like Edge, Atomic, CakeWallet, and Ledger, ensuring integration and user experience.

Although KYC data isn’t required, the platform has a risk management system in place. Some verifications may, therefore, be required in specific cases to secure operations on the site.

Disadvantages of ChangeNOW

While ChangeNOW has many advantages, it also presents some drawbacks worth considering.

One of the main weaknesses of the site is its automatic translations. This shortcoming may affect the experience of French-speaking users who might find the site less credible.

ChangeNOW provides price charts, but the platform lacks advanced trading tools. It also lacks copy trading and margin trading, which have become industry standards.

For those interested in more advanced features, registration is necessary to use the site’s PRO option. This could discourage users who prefer to remain anonymous. Lastly, staking is limited to less than 10 cryptos, which is a disadvantage for those looking to stake a variety of assets.

What Crypto Can I Buy On ChangeNOW?

On ChangeNOW, users can trade and buy various major cryptocurrencies. 

Among the most well-known are Bitcoin and Ethereum. However, lesser-known tokens in the crypto sphere are also available, which include GAFA and Patriot Pay.

ChangeNOW Services and Features

ChangeNOW offers a variety of features designed to enhance user experience. They include:

• ChangeNOW Pro: A premium offer with advanced features for high-volume trading.
• NOW Wallet: A decentralized, non-custodial wallet compatible with multiple operating systems that supports major blockchains.

It mainly supports 7-major blockchains, including: 

• Bitcoin
• Ethereum
• Monero
• Dogecoin
• Polygon
• BNB Smart Chain
• Solana

NOW Token—

The native crypto of the exchange that’s used for cashback rewards, staking and has deflationary properties through monthly token burns.

Cross-Chain Swap—

This feature allows users to migrate tokens across different blockchains easily.

Crypto Loan— 

A lending service where users pledge crypto in exchange for stablecoins like USDT or USDC. The platform’s loan-to-value (LTV) ratio is 50%. The cryptos supported by this program are:

• BTC
• ETH
• BCH
• NANO
• DOGE 
• FIRO
• XRP 
• DGB and several ERC-20 tokens

Unlike other platforms, ChangeNOW doesn’t set loan terms or monthly interest payments. 

Interest is paid in full at the end of each loan.

Telegram Bot— 

The bot lets users trade over 200 cryptocurrencies on Telegram without creating an account.

Token Swap—

This feature supports a wide variety of tokens and offers real-time rate adjustments.

Lightning NOW— 

A Lightning Network node providing free transactions and instant, off-chain orders.

Fees Charged On the Platform

ChangeNOW has two main pricing structures for cryptocurrency exchanges: variable rate and fixed rate. Each has its own cost implications for the user.

Additionally, transactions involving bank cards incur fees. These fee structures are designed to provide flexibility and clarity to users during their transactions.

Variable Rate and Fixed Rate

The variable rate offers the best available rate on the market, but it can fluctuate due to market conditions and network fees. In contrast, the fixed rate guarantees a constant rate at the time of an exchange; however, an additional margin is charged for this guarantee.

Transaction Fees

ChangeNOW charges transaction fees ranging from 0.5% to 4%, depending on your choice between a variable rate or a fixed rate. These fees cover costs related to blockchain transactions, but there are no additional fees.

Fees for Purchases by Bank Card

Purchasing cryptocurrencies with a bank card incurs:

• A 5% processing fee by Simplex
• A 1% service fee by ChangeNOW

All fees are included in your final pricing.

ChangeNOW Mobile App

The ChangeNOW app is for iOS and Android, offering a compact option of the exchange. It lets users buy, sell, and trade cryptocurrencies anonymously without the need for registration.

The “Earn Crypto NOW” feature encourages users to share their referral links, earning rewards for each transaction made through the link. This interface is easy to navigate and offers:

• Market widgets to track real-time prices
• Quick buy/sell toggles
• Accessible customer support

The app uses security measures like PIN code protection and AML (Anti-Money Laundering) verification, which enhance user confidence in managing their digital assets on ChangeNOW.

What Account Can You Open with ChangeNOW?

ChangeNOW doesn’t require an account creation before using its services. 

However, users can open two types of accounts for advanced applications.

Pro Account

With ChangeNOW, you have three options for various transaction needs: VIP, Standard, and Brilliant.

• The VIP account is free and offers:
  • 0.1% cashback on transactions
  • Up to 5,000 NOW in monthly cashback
  • One AML verification per month
• The Standard account is paid and costs $15 per month, offering benefits like a 15,000 NOW cashback limit and 40 AML checks.
• The Brilliant account is also paid, costing $100 per month. It maximizes benefits with 0.2% cashback, unlimited AML verifications and more.

Partner Account

The partner account is for businesses working to enhance their cryptocurrency management. It offers secure and efficient management of its digital assets with benefits like fast crypto deposits, secure storage and collaborative marketing activities to increase brand visibility.

Partner accounts are ideal for exchange services, influencers, and payment platforms.

Is ChangeNOW a Secure Platform?

Currently, ChangeNOW has adopted various security measures to ensure your safety.

Platform Security Measures

ChangeNOW integrates robust security measures like its Know Your Customer (KYC) system, leveraging Sum & Substance, allowing identity verification in cases of suspicious transactions.

This process includes automated risk analyses to prevent fraud and money laundering.

Additionally, ChangeNOW ensures the privacy and security of users’ deposit and withdrawal addresses, highlighting their commitment to regulatory compliance and client protection.

Regulations and Licenses of the Exchange

ChangeNOW operates under various national regulations for several countries. However, the site doesn’t indicate possession of licenses in other territories. Just know; ChangeNOW is not a PSAN (Digital Asset Service Provider) but is not on the AMF (French financial regulator) blacklist.

Legally, ChangeNOW is registered under the name CHN Group LLC with a registry code of 3010 LLC 2023. Its headquarters is located in Saint Vincent and the Grenadines.

The company has established a “Listing Agreement,” a legal contract with partners for the integration of new virtual assets into its platform, making these assets accessible to users.

How to Buy Crypto On ChangeNOW

Here’s how to buy cryptocurrencies in 4 simple steps on ChangeNOW:

Step 1: Prepare a Cryptocurrency Wallet

Before you can trade cryptocurrencies on ChangeNOW, you need a crypto wallet. You can download/install wallets suggested by ChangeNOW or an existing one. We cover MetaMask.

Step 2: Choose Cryptocurrencies to Trade

Go to ChangeNOW’s exchange. Select the asset you want to trade from the dropdown menu (e.g., Bitcoin). You’ll also need to choose the crypto you wish to receive (e.g., Ethereum).

Step 3: Enter the Receiving Address

Enter the wallet address where you want to receive the traded cryptocurrency. Ensure the address is correct to avoid losing funds, for cryptocurrency transactions are irreversible.

Step 4: Confirm and Receive Funds

Once you’ve verified your transaction details, you can proceed with the exchange by clicking “Confirm.” Send your cryptocurrency to the deposit address provided by ChangeNOW. The exchange processes transactions, and you’ll receive crypto in your wallet in 30 minutes or less.

Which User Profile Is ChangeNOW Suited For?

ChangeNOW is suitable for all types of users—whether novice or pro. It’s an ideal tool for making anonymous, fast, and secure transactions (buying and selling crypto). The exchange is suitable for DeFi enthusiasts looking to maximize their returns through lending and staking.

High-volume traders and businesses benefit most from the Pro plan. Lastly, those who use various operating systems or navigate web3.0 can find the NOW Wallet advantageous.

Customer Service Quality

ChangeNOW’s customer service is responsive and efficient. It’s available via its website’s chatbot and can also be found on various social media platforms such as Twitter, Facebook, Instagram, and Reddit. For certain services, they can even be reached via WhatsApp. Users often get responses in an hour, making this support a major asset for ChangeNOW.

Our Final ChangeNOW Review

ChangeNOW stands out for its non-custodial nature and its simplicity. The platform has a wide range of crypto and has DeFi options like lending and staking without the need for registration.

However, it does have some drawbacks, including the lack of advanced technical tools for traders and a less competitive staking offer compared to its competitors. Another weakness is some ambiguity regarding its regulatory licenses, which could affect its long-term reputation.

Despite these, ChangeNOW is versatile and hosts a decentralized wallet for multiple networks.

In conclusion, ChangeNOW is an ideal platform in 2024 for its ease of use and diverse services.