| Cryptocurrency exchange | |
|---|---|
| Official website | |
| Social network | |
| Date of foundation | 1970 |
| Types of support | |
| Languages | Russian, English, French, Spanish, Turkish |
| Company owner | ChangeNOW International ltd. |
| Age restrictions | From 18 years |
| Number of cryptocurrencies | 190 |
| Margin trading | No |
| Tokenized assets | There's |
| Free demo account | No |
| Methods of replenishment | Mastercard, VISA, Cryptocurrency wallet |
| Withdrawal methods | Mastercard, VISA, Cryptocurrency wallet |
| Account Currencies | EUR |
| Types of cryptocurrencies | Bitcoin, Bitcoin Cash, Cosmos, DASH, QTUM, Litecoin, Ripple, et al. |
| Mobile apps | There are mobile apps (Android) |
| Trader training | Blog, market news, price forecasts |
| A way to store cryptocurrencies | Cold: no Hot: yes |
| Fiat accounts | Yes |
| Scalping | No |
| Stop loss and take profit function | No |
| Possibility to exchange for fiat currencies | Yes |
| Terminal capabilities | Exchange |
| Basic verification | No |
| Advanced AML verification | Yes |
| API | Yes |
| Affiliate Program | RegistrationPercentage of referral transactions |
| Advantages | Large selection of assets Rate fixing during application processing There are no limits on all deposits/withdrawals except cards Lots of useful information Mobile application Affiliate Program |
| Disadvantages | No information about the company and license Slow processing of requests, frequent delays and cancellations Not all currency pairs are available |
| Overall assessment | 6.5/10 |
| Date of update | April 16, 2023 |
ChangeNOW is this a scam? Review and Customers Reviews
Contents
ChangeNOW – another offshore exchangerHowever, it is notable for its functionality. Here is an excellent choice of currencies, many convenient services and, as users assure, competent support.
Let’s take a fresh look at the platform and decide if it is worth our attention and how safe it is. ChangeNOW – is it a scam or a stable system? Let’s start in order.
Why ChangeNOW
Service ChangeNOW convenient because it offers 2 types of transactions: with fixing the rate (usually takes more time, but you get the amount of cu that you initially saw in the calculator) and standard (they are done quickly, but there may be differences in the figures due to high volatility Cryptocurrencies).
It is most convenient to exchange one virtual currency for another:
- the commission is minimal;
- there are no limits;
- less confirmation of contact information is required.
With fiat everything is more complicated, and it is not always supported, and in the list – only euros. To help the user on the site changenow.io A large number of reference and analytical materials to help you choose the right time to make a deal.
The choice of assets is impressive: cryptocurrency, fiat, tokenized currency units. – in total about 200. The list of pairs supported in a given interval is reflected in a special table (you can use the search to find the desired unit). There is a handy mobile application for use with Android devices (rated 4.3 out of 5) and an extended referral program with free widgets, buttons and API for its members.
How to buy cryptocurrency on changenow.io platform
For cryptocurrency purchases in ChangeNOW, you don’t have to register. Just open the form on the main page of the site changenow.ioSelect the deal type (Classic Rate/Fixed Rate – a fast deal without rate fixing or a fixed deal requiring processing time), the conditional units of purchase/sale and click Exchange.
The system redirects us to the form, where for some reason you have to enter the original data again. And also specify the details from which the funds will be transferred. An important point: the currency pair you need may not be available at this stage. For example, we could not exchange ether for euros.
The wallet key is checked so you don’t send assets to non-existent credentials. Then you check the details of the order, confirm everything, and the request is sent. All that remains is to pay. The standard payment form includes a floor with the card number, expiration date, holder’s last 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, everything is completed with a verification of the profile.
Verification on the ChangeNOW platform
Verification on the ChangeNOW platform involves providing documentation to prove that you have been verified:
- Identity – scan of passport, driver’s license or ID-card (for EU residents) of your choice.
- Place of birth – a receipt of payment for utilities, Internet, telephone and any similar certificate, which clearly shows your full name and address of residence. The main thing is that it must have been issued not earlier than 3 months by the time of the inspection.
You also write 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.
Terms of buying cryptocurrency
The platform can be used by any adult and legally capable person who is not a resident of Cuba, Iran, North Korea, Crimea, Sudan, Syria, the United States (including both Puerto Rico, American Samoa, Guam, Northern Mariana Island and the US Virgin Islands: Saint Croix, Saint John and Saint Thomas), Bangladesh and Bolivia, as well as any region that is subject to UN sanctions.
The age limit, as elsewhere, is 18+. Buy/sell is done with VISA, MasterCard, including prepaid (Simplex acts as an intermediary) or cryptocurrency wallet. Of fiat currency only euro is available. But the cryptocurrency is well represented: BTC, BCH, LTC, XRP, XMR, XLM, ETC, XTZ, USDT, ETH, DAI, PAX, EOS, DASH and others. – A total of almost 200 items. During the transaction, you leave an order, which you have to confirm with payment. During standard transaction currency rate is fixed at the moment of accepting currency from your side. For a fixed transaction, the exchange rate is fixed immediately. Only in case of high market volatility fluctuations within 3% are stipulated.
All fees (processing and the exchanger itself changenow.io) are already included. Among other things, you will have to pay taxes, if necessary. You are offered to connect your own cryptocurrency wallet or use a local one. In the latter case, withdrawal of funds can take up to 20 business days.
Deposit and withdrawal limits
The distinctive feature of ChangeNOW is the almost complete absence of limits. You can exchange one cryptocurrency to another without any limits. But if you want to buy virtual currencies for fiat (recall that in the system it is represented only by EUR), transactions with the card have restrictions:
- The minimum is $50,
- The maximum is $20,000 per day and $50,000 per month.
Commission
In most cases, the ChangeNOW fee is simply included in the rate and is not stipulated additionally. However, if you will buy/sell crypto 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.
ChangeNOW bonuses
Bonuses at ChangeNOW are rare and are mostly related to encouraging dissatisfied customers. To keep abreast of promotions, the service offers to sign up for email newsletters. Permanent rewards are only available as part of the affiliate (referral) program.
Referral program
Referral program ChangeNOW works on the same principle as the other exchangers:
- After registration you get a unique (referral) link, as well as buttons/widgets to place on your site, blog, forum topic or other resource that does not prohibit advertising.
- When users follow your link, they are recognized as your referrals. Their actions are tracked.
- As soon as one of your referrals makes an exchange, you get a percentage of their commission (the amount is not specified for some reason).
The so-called partner package is also available: you start your own cryptocurrency exchanger (the software is provided by ChangeNOW, the trademark is yours) and act as an intermediary between the provider and the end user.
Complaints about changenow.io
We did not find any complaints of cheating on the part of ChangeNOW on specialized feedbacks, but a lot of negative feedback is devoted to problems with the timing of application execution. According to customers, the exchanger takes a long time to process transactions, and if you look at the statistics, it has a fairly high percentage of cancelled transactions. Note that the refund is made at the new exchange rate, which means that the trader loses on the difference. Some visitors on this basis even suspect the service of profiteering.
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ChangeNOW regulation
The regulation of cryptocurrency exchanges is not always possible due to the lack of a strict legal framework in most countries. Taking advantage of this, many resources simply do not obtain licenses to carry out their activities. However, they strive to register as a legal entity.
Owners of ChangeNOW are not among the latter.
Regulator
It is not clear who manages the exchanger: although the name ChangeNOW International Limited appears in the footer, there is no information about this company anywhere in the registries. Accordingly, the service also has no license – it is an offshore (underground) service provider.
User Agreement changenow.io
The Terms of Use on changenow.io consists of 22 sections and contains information about how to work with the resource, as well as the rights and responsibilities of its visitors and administration to each other. For example, in paragraph 2.5 the service provider reserves the right to suspend operation of the site at any time without compensating you for any losses incurred as a result. He can also block your access if he decides that you violate the terms of agreement (paragraph 2.6).
Refunds for failed transactions are only possible in two cases: if the status is marked “failed” or the exchange is stuck in the “waiting for payment”/ “ready for exchange” stages. Anyway, ChangeNOW’s decisions to refund/not refund you usd are final, because they are made on an individual basis. You use the platform on an “as is” basis – that is, at your own risk. And you receive no guarantee of successful execution of transactions (clause 8.2).
Even if your claim is successful, the maximum amount of compensation will not exceed 500 euros (clause 9.2).
All legal issues between users and owners of the system are resolved on the basis of Belizean law. You are obliged to compensate the operator for any costs associated with resolving the issues you raise (clause 21.1).
ChangeNOW has the right to engage third parties to fulfill its obligations (this includes collecting debts from you) (clause 22.2).
Is ChangeNOW a scam?
The Exchange ChangeNow can be considered sufficiently reliable: all users who wrote reviews on the official platforms, noted that even when the transactions were not executed they got their assets back (note: we considered only the confirmed comments of those who proved to the moderators the fact of working with the platform). The problems were purely of a technical nature.
However, the diversity, although it is a distinctive feature of the service, is still not as large-scale as the service provider is trying to present it: many of the declared currency pairs simply do not work here. And, of course, the fact that the site is offshore is embarrassing. Which means that it can be closed at any time. Moreover, in the user agreement there is a clause that removes the operator’s responsibility for the compensation of clients in such cases. In fact, no guarantees are given: everything is on a voluntary basis. It does not seem that ChangeNOW is a scam, because it has been providing feedback to all for a long time. Still, we can not call a resource absolutely reliable.
Conclusion
I ChangeNOW a lot of pluses:
- Large selection of cryptocurrencies, though not all units are available on a permanent basis.
- Ability to fix the rate already at the initial stage of the transaction in some cases.
- Unlimited and reduced commission on transactions without fiat.
- A well-rated mobile app to work with Android devices.
- A large directory of useful information and a selection of free services for partners.
However, as we have managed to discover, there are a number of things that somewhat spoil this rosy picture. Among them are frequent technical failures, which cause users to lose money when returning c.u. at the new exchange rate, the lack of official legal information, and unclear terms of cooperation. This is another platform that does not give you any guarantees, but allows you to make money on crypto if you do not have serious knowledge of blockchain, but not stable, but, as they say, as luck would have it.
Reviews
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Inaccurate feedback Rate your review 000Oszuści
They are common scammers who do not pay out money I do not recommend it
Positive- Żadnych plusów
Minuses- Dużo minusów
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Feedback approved for publication Rate your review 000Oszustwo
It’s a common scam I sent my money to them to exchange from USDT to PLN and they say that the banking system blocks the transfer and they keep making me pay something extra for legalization and insurance of the funds for me it’s a common scam I don’t recommend this company they are common thieves
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Credible feedback Rate your review 000Scammers
Transferred to exchange 23196 USDT, change it into euros and started scamming for money: pay for legalization, then some penalty (allegedly for the broker), then for I paid, they wrote that the money had been sent to my account.
No money for 3 days, on the third day they wrote: Payment rejected by the… Read morePositive- No pros
Minuses- Fraudsters, money scam
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Inaccurate feedback Rate your review 000
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Feedback approved for publication Rate your review 000I can’t withdraw money for the third week
26770 dollars are hanging at the exchange office. First we had to pay for the legalization act, then for insurance, and now for some kind of gateway…. They feed me with promises, sneers, promises money now and today…but they are not. They sent me a report, but when I asked them to send me insurance… Read more
Positive- Haven't met you yet
Minuses- They don’t respond for a long time, the list of services for which you have to pay is not specific, they feed you with promises.
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Inaccurate feedback Rate your review 000Didn't complete the transaction
They don’t inspire confidence.
Positive- Not yet
Minuses- Doesn't inspire confidence
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Feedback approved for publication Rate your review 000they took the money
Translated them to exchange 37,000 Pole, first they have hung site, then wait 1-2 hours, then another 1-2 hours, then 7 hours. They offered to return the money back, I agreed and there is no money, support is feeding me the answer.
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Rate your review 000I use the service regularly
Once the transaction was delayed, the support team helped in Russian and solved the problem in just 10 minutes
Positive- No need to register
- Responsive support
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Rate your review 0+30
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Rate your review 0-10And I was verified, so now I...
And I was verified, so now I have to pay 20% of the amount that fell into my account for the withdrawal. As a result I lost 46 thousand.
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Rate your review 0-10I think this fake exchanger, was exchanging-1000kts...
I think this fake exchanger, was exchanging-1000kts from Yandex purse to etherium and back, kopecks withdrawn, 5.9 thousand rubles, the exchanger wrote a mistake, enter another amount of not less than 5.9 thousand rubles, I entered, they wrote now in a purse more than $ 220, make a verification for this… Read more
- New4
- Resolved0
- Not resolved4
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ChangeNOW reviews