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Changex Review - is it scam or safe?

Changex Review - is changex.com scam or good cryptocurrency exchange?

RATING: 2 / 0 REVIEWS Changex
Changex is not regulated. We cannot guarantee your money is safe.

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Trading accounts and conditions

 

Account type Leverage Fees
Standard 1:1

vary

 

 

 

Changex describes itself as “an e-currency exchanger” where clients can exchange one “e-currency” for another. In reality clients can exchange some of the major cryptocurrencies like Bitcoin, Bitcoin Cash, Dash, Ether, Litecoin, Namecoin, Novacoin, Peercoin and Zcash for EUR, USD or RUB, using various payment methods for withdrawal. Alternatively, clients can also exchange one fiat currency for another, on the same principle.

 

The exchange launched its services in 2015 and is owned by a company registered in Belize.

 

Judging by the comments, Changex is mostly used by Russian clients, but it offers its services worldwide.

 

Changex advantages

 

- Lots of Coins. Changex has a fairly good selection of cryptocurrencies that can be exchanged for fiat currencies, which is quite convenient.

 

- Convenient Fiat withdrawals. Changex offers a good selection of fiat withdrawal options that include PayPal and credit cards. For fiat-to-fiat the payment options are even more.

 

 

>> See crypto exchanges accepting credit cards <<

 

- Good Speed. Changex claims to offer a fast exchange service and, judging by the user comments, it is indeed the case.

 

- Favorable Customer reviews. The Changex clients sing the high praises and we have come across most favorable reviews. But one has to keep in mind that good reviews and testimonials these days cost a dime a dozen.

 

- Verified partner of payment providers. Even though Changex is not regulated (because the cryptocurrency exchanges in most jurisdictions are not required), it claims to be a verified partner of some of the major e-payment systems: OKPay, Perfect Money, Payeer and C-Gold.

 

- Fiat-to-fiat exchange. Obviously the option to exchange fiat currencies came first on Changex and later it branched out into cryptocurrencies as well. Nothing wrong with that, of course. Besides, judging by the latest transactions list, this option is still well used.

 

 

Changex disadvantages

 

- High Fees. The fees of Changex vary depending on the withdrawal method and can be quite high for some, like PayPal, where the commission is 10%, or a minimum of USD 12. The fee for withdrawing to Mastercard is 6%, or a minimum of USD 15. The cheapest option is Payeer, with a fixed fee of USD 3.

 

- No crypto buy option. On Changex one can only practically sell cryptocurrencies for fiat, but cannot buy, so Changex is not an exchange in the true sense of the word.

 

- Anonymity limitations. Changex allows anonymous services, but there are limits on the sum that can be exchanged and the payment methods that can be used. The verified clients (ID document and proof of address) have higher limits and can use all payment methods available.

 

- No US clients accepted. Changex does not accept clients from the US, even US citizens residing elsewhere.

 

- No Leverage. Changex does not offer leveraged trading, as it is a simple exchange service. Those who want to trade in cryptocurrencies on margin, can do so with many reputable regulated forex brokers who offer CFDs on cryptocurrencies with leverage.

 

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

 

Conclusion

 

Changex is somewhat different than the regular cryptocurrency exchange, but apparently has found its niche. We dislike the high fees, that are higher than those of most of the exchanges, but the option to withdraw to PayPal is not being offered very often, so one has to pay the price.

 

We do not like the lack of buy option too, but as we said, Changex is not exactly a cryptocurrency exchange in the true sense of the word.

 

 

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Traders` reviews for Changex

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