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ChangeNOW Review - is it scam or safe?

ChangeNOW - is changenow.io scam or good cryptocurrency exchange?

RATING: 1.5 / 2 REVIEWS ForexBrokerz ChangeNOW
ChangeNOW is not regulated. We cannot guarantee your money is safe.

Trading accounts and conditions

 

Account type Leverage Fees
Standard 1:1

0.5%*

 *Plus some additional “partner fees” that are not listed and not mentioned. ChangeNOW does not have control over them.

 

ChangeNOW is a non-custodial and limitless exchange service for simple and easy cryptocurrency swaps with a friendly interface and fast transaction speed. ChangeNOW works with partner cryptocurrency exchanges like Poloniex, Bittrex and Indacoin, a total of 10, and selects the best exchange rate for the client at the moment of placing the order. In short, ChangeNOW works as some sort of an aggregator for cryptocurrency exchanges.

 

ChangeNOW offers exchange services for crypto-to-crypto and crypto-to-fiat and the crypto portfolio is quite extensive. In addition to the majors like Bitcoin, Ether, Bitcoin Cash, Ripple, Litecoin, Dash, Monero and Ether Classic, there are a lot of other altcoins, some of them quite obscure. However, not all of them can be exchanged for fiat currencies.

 

ChangeNOW advantages

 

- Coins. Unlike most simple spot buy and sell exchanges, ChangeNOW, has an extensive selection of altcoins, some of which can also be exchanged for EUR or USD.

 

- Payments. We could not find explicit information about the fiat payments methods accepted by ChangeNOW, but credit cards like Visa and MasterCard and debit cards are accepted for certain.

 

>> See crypto exchanges accepting credit cards <<

 

- Low Fees. The ChangeNOW trading fee of 0.5% is relatively low, for the type of service it offers, especially if it is the same for credit cards. But we strongly suspect that additional fees are charged by their partners – the already mentioned “partner fees”.

 

- No Limits. ChangeNOW claims there are no limits for buying and selling cryptocurrencies, however, as we went through the buying process, it transpired that the platform’s partners have some limits, at least when fiat currencies are involved.

 

- Anonymity. ChangeNOW does not require its clients to identify themselves and provide copies of ID documents. All they need to provide is an e-mail address.

 

- Client reviews. The client reviews at TrustPilot are predominantly positive and the customers appear to be satisfied with the service and the customer support.

 

- Many languages. ChangeNOW appears to be quite the global company and its site has many language options, in addition to English: German, French, Italian, Dutch, Portuguese, Danish, Polish, Swedish, Hungarian, Spanish, Chinese, Korean, Japanese, Russian, Greek, Ukrainian, Arabic, Hebrew and several others.

 

 

 

ChangeNOW disadvantages

 

- New client limits. Even though ChangeNOW says it does not have limits, but its partner Indacoin, for example, has limits. In essence this means that there are some limits, after all:

 

  • The first purchase is limited to 50-200 USD/EUR;

  • The second purchase is limited to 400 USD/EUR in the 4-day period;

  • The third purchase is limited to 600 USD/EUR in a 7-day period;

  • Up to 6 individual transactions can be implemented in the 7-day period.

 

- Anonymity. We mentioned that ChangeNOW claims to provide an anonymous service and does not require any documents. It is so, but similarly to the case with the buy and sell limits, ChangeNOW’s partners DO have verification requirements, if an exchanged amount exceeds their limits. So when this happens, as per European AML directives, KYC regulations and platform requirements, ChangeNOW will ask you to provide you a photo of your ID document valid in your country and additional information of the funds’ origin.

 

- No leverage. ChangeNOW does not offer leveraged trading on cryptocurrencies. We suggest to those who wish to speculate on the crypto prices, but do not need to own the coins, to sign up with a regulated forex broker that offers trading in cryptocurrency CFDs.

 

 

 >> See our list of regulated bitcoin forex brokers <<

 

Conclusion

 

ChangeNOW strives to offer a simple and straightforward service with no hidden fees, no registration and no limits. However, at a closer look it turns out that there are hidden fees, registration requirements and limits, depending on the partnering exchange.

 

On one hand, ChangeNOW does not have those, but on the other – it should have been more open about this, instead of us having to dig deeply and read customer reviews, in order to find out about those hidden caveats.

 

So, in the end of the day, it may turn out to be more expensive to trade and equally annoying to have to go through a verification process, or hit a trading limit, as on other cryptocurrency exchanges.

 

 

 

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Traders` reviews for ChangeNOW

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All I can say

I read the reviews and decided to leave mine. All I can say is that changenow is a good service for fast swapping. I have never had problems, I changed a fairly large number of coins. As for KYC, I will say that this is a mandatory procedure on any exchange, depending on the amount of swap. As I know, the line of anonymity, for example at Binance and HitBTC, is up to 2 BTC per day. Anything greater than this is subject to KYC. Therefore, to avoid this, I work with a small amount of coins, and of course, I do not send fake documents like this man do it. I add that his problem was solved. He received his coins without KYC, so to say that changenow is a scam, this is not true.

Ruben 10/20/2018

I had specifically check it

I heard a lot about changenow good and bad, but today I specifically decided to check out this exchange, because I used to trust my experience. LTC to ETH = 25 min. - such is my result, no problem. I will say that this is not bad, so I will use it.

Max 10/15/2018

Questionable comments

It's fun to read negative comments that don't match the truth! Do you guys really believe that so many people have been deceived? All reviews are the work of one person who seeks to ruin the reputation of an exchange after changenow has stopped his transaction. This guy sent them a fake ID, and still hasn't provided a real one. Instead, he spreads such lies! For objectivity, read the review that made the person following this story.

https://medium.com/@arennathan9/changenow-scam-or-review-how-ni23457-blackmails-the-exchange-978c483ef81a

Rocky 10/09/2018

ChangeNOW = Selective SCAM

ChangeNOW simply stops anyone with a larger transaction to provide ID in a hope to keep the money for themselves. There is nothing anonymous about this service, except people running it. DO NOT USE!

Risky 09/14/2018

my experience

I'm a bit surprised at what I read here. I have been working with changenow for several months already and there were no such problems. I see that ni23457 admits that he sent someone's documents, I think this is an incorrect act. What is the fault changenow? Naturally, they blocked a suspicious transaction. In my opinion, everything is legal. You need to be honest when you risk so many coins.

jos 08/31/2018

There is KYC!!! They are not an anynous exchange

ChangeNOW has KYC and verification requirements. Do not let them fool you in thinking that they do not. They say they do this on individual basis, but customers are not clear on how the process exactly works. Unfortunately through this method, they have been able to seize (fraud) a customer of his monies. https://www.reddit.com/r/cryptocurrencyscams/comments/933g5j/changenowio_scam_illegally_holding_of_100_bch_11/

Paul 08/22/2018

Are they really legit?

Their services are not to be trusted. They are currently involved in a huge scam according to the articles posted in the comments. Do your research before you decide to do business with them. Why will they hold someone's money for so long?

Petite 08/14/2018

No total anonymity it is a lie

Do no biz with them. They finding a way to take money from people after they make deposit. They are not anonymous like they said. They are big scam. See here: https://www.reddit.com/r/cryptocurrencyscams/comments/933g5j/changenowio_scam_illegally_holding_of_100_bch_11/e3yfufb/

Bob 08/11/2018

They are not going throug their polices

Hi!
few of weeks ago.My friend got cheated by them.He sends them some bitcoins for exchange.But they are not giving the coins or anything.They are demanding documents and bla bla.But My friend said to back his coins to the wallet coin was sent to them.they are not doing this any more.So,that is scam.They don't have any rights to hand up the coins.
stay aware.

Abrar 08/09/2018

Questioning the Anonymity Part

"- Anonymity. ChangeNOW does not require its clients to identify themselves and provide copies of ID documents. All they need to provide is an e-mail address."

I find the above misleading, as you can tell that ni23457 has had to submit document upon documents, and yet they have still not released his funds. Maybe you can look into this and do a re-review? If this is the case they should state clearly that they require KYC from the go, so that clients would be aware. And not afterwards, then seizing their money.

Cadet01 08/03/2018

A week ago they locked 100 BCH (11 bitcoins, $70 000)

Dear friends be very careful when operating with these guys. More than a week ago they locked 100 BCH (11 bitcoins, $70 000)

https://bitcointalk.org/index.php?topic=4647308

This completely anonymous site can block your absolutely clean 5-year-old funds and then demand documents from you. And even if you send them your documents, they still will not return your funds back. Yes, I made a mistake that at the very beginning I sent a picture with someone's passport from google.images (but I sent the picture just to the anonymous guys with no real address, company name or even phone number). But then I still sent the real documents and now I wait 8 days from the moment of sending documents, and they say that they are conducting an investigation. They themselves say that they do not know how long it will take. In other words, they say:
"We took your funds, and we will not return it to you until we want."

But what kind of investigation can be conducted by these anonyms for more than 8 days? Blockchain shows that I own funds for 5 years. The presence of coins on my wallets indicates that private keys were not stolen. What else can they investigate? There is no doubt that they are just trying to find a way to leave this funds to themselves.

ni23457 07/14/2018
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