Sign Up on MEXC
Summary
ChangeNOW is an enigmatic platform where one can anonymously buy, sell or exchange bitcoins without a need to create an account or submit identification proof. This straightforward way of operating may be appealing to investors who prefer not to show their identity. Still, the effectiveness of the platform may not be satisfactory due to high rates of purchases and swaps and the lack of charts or analytical options.
Let’s get started with a review of ChangeNOW and see what features are integrated in the response to market demands.
About ChangeNOW
ChangeNOW, founded in 2017, is a Seychelles-based crypto exchange that doesn’t hold onto your coins. With around 3.5 million users worldwide, ChangeNOW aims to stay compliant with regulations and avoid legal issues. As a result, its services may not be available in certain regions. For more details, you can refer to their Terms of Service.
- Features: crypto swaps, fiat-to-crypto gateway, crypto loans, proprietary token, crypto cashback, staking, permanent exchange address.
- Accepted fiat currencies: USD, EUR, GBP, AUD, CAD, and 60+ others.
- Deposit Methods: Credit/Debit Card, Crypto, Bank Transfer
- Supported cryptocurrencies: 1000+
- Trading Fee: Variable
- Customer Support: Help Center, Ticket System, Live Chat
- Security Measures: Non-Custodial, Risk Prevention System, 2FA
- Mobile App: Yes (Android and iOS)
ChangeNOW Features
ChangeNOW comes with an assortment of useful features, which are described in brief below.
ChangeNOW Swaps
It is simple to swap crypto assets using ChangeNOW. No account registration and no KYC required. Just swap! Unlike several other platforms, such as Binance or Bybit, ChangeNOW makes everything easy. Its fast interface gives you the exchange rates in an instant. However, watch out for the hidden spread tax.
Since ChangeNOW is non-custodial,the average exchange time is 5 minutes. Make sure your wallet supports the tokens you’re swapping to avoid losing assets.
Buy Crypto with Credit and Debit Cards
ChangeNOW isn’t just about swapping crypto; you can also buy it with credit or debit cards. But here’s the twist: ChangeNOW doesn’t handle these transactions directly. They team up with third-party partners like Simplex, Guardarian, and Transak.
They offer a smorgasbord of fiat currencies—USD, GBP, CAD, AUD, EUR, and more. Just keep in mind that the currency options can change depending on how you pay and how much you buy. So, double-check if your preferred currency is on the list before diving in!
Crypto Loans
ChangeNOW has jumped into the crypto lending game. You can stash your crypto and borrow stablecoins. Deposit BTC, get USDT or USDC. The loan-to-value (LTV) ratio is 50%, which is neat—just like Nexo, but lower than Bybit’s 75%.
ChangeNOW says it charges a 10% APR. But, surprise! We found loans at 12% APR. Bybit, on the other hand, offers a much nicer 8.17% APR. More bang for your buck there.
The cool part? ChangeNOW’s crypto loans are flexible. No fixed loan terms, no monthly interest payments. Pay all the interest when you close the loan. It’s a refreshing change from the usual rigid loan contracts.
NOW Wallet
ChangeNOW isn’t just about trading. It also offers the NOW Wallet—a non-custodial wallet for mobile, MacOS, Windows, and Linux. That’s a lot of platforms!
The NOW Wallet supports seven blockchains like Ethereum, Avalanche, and Polygon. It natively holds around 40 assets but can handle thousands if you add tokens from supported networks.
Plus, it connects to apps via WalletConnect, just like MetaMask. With its broad blockchain support, NOW Wallet is a solid alternative to popular wallets like Atomic Wallet.
NOW Token
ChangeNOW’s native NOW token has both ERC-20 and BEP-20 versions in circulation and provides a wide range of benefits to users of the exchange. Other than earning cashback rewards in NOW for the Pro users, the token itself can be staked to earn as much as 12.5 percent a year. This makes it good for passive investors in crypto who would want to grow their holdings without being actively involved.
As well as staking, NOW can be viewed as an investment due to its deflationary characteristics. There are plans to have this burning done regularly, which is expected to increase the value of the rest of the tokens, making it appealing for investors.
Supported fiat currencies and deposit methods
ChangeNOW doesn’t handle fiat deposits or withdrawals. That’s a bummer if you want a dedicated fiat-to-crypto exchange. But you can still buy crypto with fiat using third-party gateways like Simplex, Transak, or Guardian. They support 60+ fiat currencies, including GBP, USD, EUR, and AUD.
The catch? Fees can be steep, up to 7%. Although fees can be relatively high, the wide range of fiat options and the ease of purchasing crypto are notable advantages when using ChangeNOW for fiat operations.
Supported Cryptocurrencies and Trading Pairs
ChangeNOW shines with its massive selection of cryptocurrencies. You can buy 1000+ unique crypto assets using fiat. That’s way more than dedicated exchanges like BitFinex (189) or Gemini (150). Not only can you buy a wide range of assets directly, but you can also swap any supported cryptocurrencies. This is great if you want to quickly exchange assets without using a traditional exchange.
Trading Fees
ChangeNOW says it charges ‘no extra fees’ for instant coin swaps. However, there’s a small spread fee. In our testing, this ranged from about 1.57% to 2.95% on a $250 swap. For larger orders of around $2,500, the fee drops to a more consistent 1.20% to 1.25%.
Fiat Purchase Fees
If you’re buying crypto with a credit/debit card or bank transfer, expect fees between 3.95% and 11.5% on a $250 order, depending on the provider. Larger purchases are cheaper, with fees ranging from 2.30% to 9.88% on a $2,500 order.
ChangeNOW Mobile App
ChangeNOW provides a mobile application for Android and iOS. It has a very good user rating on the App Store—4.8 out of 5, based on almost 1200 reviews. Users are actually pleased with the application, as they clearly state its speed and non-custodial features.
The functionality of the program was tested, and we can confirm that swapping and buying cryptos are working fine. Unfortunately, not all features are available on the mobile application. Some options, such as crypto loans, can be used only on the web version of the service. If convenient, one-stop shopping is preferred, then this might not be satisfactory. However, the team is constantly working on improving the app, so it’s likely that we’ll see these missing features added soon.
When it comes to applications such as Crypto.com or KuCoin, for instance, it may be that ChangeNOW’s app appears rather elementary. But even this limitation puts one another into a simple scheme that almost all sign-up-free apps tend to recreate.
Customer Service
ChangeNOW has got your back with several support options. Got a burning question about why some folks have to do KYC verification or a failed deposit? Hit up the help center. They’ve got a decent stash of articles, though some might leave you scratching your head if you’re new to the platform.
Final Verdict
ChangeNOW is a no-fuss crypto exchange perfect for anonymous swaps. With no account needed, it caters to privacy lovers. But watch out for hidden fees and the lack of charts—make sure you’re not getting a raw deal. Ideal for quick swaps and crypto loans, but if you’re big on fiat or analytics, it might not be your cup of tea.
- ChangeNOW is the most suitable for end users. The simple interface is great for any novice.
- Several major altcoins are offered along with less popular ones, resulting in unrestricted portfolio expansion.
- There is no fear of identity theft. You can purchase or trade cryptocurrencies without any identification.
- Commissions on some tokens may be high and can vary widely, with a few even reaching double digits. This is somehow trickier when compared to Binance, for instance.
- While reviewing the site, we experienced some crashes, particularly during logging in and accessing certain products. These did not spoil the experience, but some users may not be entertained by them.
