Creating an account with a cryptocurrency exchange and submitting identity documents can be a daunting prospect for certain investors. An alternative method is to use a non-custodial service to swap crypto coins instantly without KYC. In this ChangeNOW review, we will assess the popular crypto trading platform used by hundreds of thousands of people worldwide and provide an overview of its features, user interface and trading fees.
- Easy, safe and convenient way to swap cryptocurrency
- Beginner-friendly design that is suitable for all experience levels
- More than 70,000 pairs to exchange
- Swapped assets are directly transferred to the user's wallet
- Swapping assets does not require an account or ID verification
ChangeNOW is a well known and popular crypto swap platform that is used to instantly exchange one crypto to another, without limits or registration. Users have the luxury of swapping hundreds of different cryptocurrencies in a matter of minutes directly to a hardware wallet. The exchange has a fiat-to-crypto gateway to facilitate direct purchases with credit cards using traditional financing.
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What Is ChangeNOW?
ChangeNOW is a non-custodial platform that is widely known for its instant and easy-to-use crypto exchange service. With its low fees and hundreds of cryptocurrencies to exchange, it does not put any limitations on the amount of crypto users can exchange. With no signup process necessary, you can instantly swap any amount of crypto you want, such as Bitcoin to Ethereum or another cryptocurrency.
ChangeNOW integrates with Simplex and Guardarian fiat providers, allowing users to purchase cryptocurrency using a Visa or MasterCard. Almost 60 fiat currencies are currently supported.
How Does ChangeNOW Work?
ChangeNOW aggregates crypto prices from the world's largest and most popular trading exchanges. It searches for a price that is optimal at that moment and locks it in until the user completes the transaction and that confirmation is made on the blockchain.
Is ChangeNOW Legit?
ChangeNOW seems to be a legit crypto exchange that has been operating successfully since 2017. The online crypto platform has gained the trust of users from all over the world and continues to grow. According to ChangeNOW's website, its platform and mobile app attract hundreds of thousands of visitors each month, and more than 3 million people have used the service.
ChangeNOW is available in many countries around the world, including the UK, Australia, Canada, the Netherlands, etc. If you are unsure whether ChangeNOW is available in your country, visit changenow.io/terms-of-use for more information.
ChangeNOW's ease of use and beginner-friendliness are important features. The following table compares other popular crypto exchanges that allow users to swap crypto instantly with trading fees start at 0.5%
|Exchange||Crypto Assets||Trading Fees||Rating||Promotion||Website||Review|
|None available at this time||Visit Changelly||Changelly Review|
|None available at this time||Visit ChangeNOW||ChangeNOW Review|
|None available at this time||Visit SwapSpace||SwapSpace Review|
|None available at this time||Visit StealthEx||StealthEx Review|
ID Verification Requirements
There is no requirement to create an account or complete a Know Your Customer (KYC) process if swapping crypto to crypto. However, if you intend to convert fiat currency into digital assets, an ID verification process must be completed in compliance with financial regulations. To verify your account, the following documents can be uploaded:
- International passport
- National ID card
- Driving license
ChangeNOW supports about 400 cryptocurrencies for users to buy Bitcoin, Ethereum, Litecoin, Ripple, EOS, Stellar, Monero and many others. With different altcoins paired against one another, there are more than 70,000 pairs that can be exchanged. To view the full list of supported cryptocurrencies, you can visit the available coins page. The number of supported coins on ChangeNOW is much higher than that of other similar services, such as Exolix.
How To Swap Cryptocurrency Using ChangeNOW?
Exchanges on ChangeNOW are simple and even beginners can swap crypto such as Bitcoin for Ethereum within minutes. For users to start using ChangeNOW, they need to go to the website and use the widget on the homepage.
To swap crypto instantly, use the drop down arrow to select the cryptocurrency that you want to swap (or sell) and the amount. Then, following a similar process select the crypto you wish to buy. You will see that the amount will automatically populate in the 'You Get' box. The amount will differ depending on the rate you chose, which we will explain further in this review article. To proceed to the next step, click on 'Exchange'.
Here, the transaction details will appear again which you can choose to modify. Otherwise, you can enter the address to send the cryptocurrency which you are about to purchase. The best option is to send the crypto directly to your wallet, so enter the address below.
Exchanges come with a floating rate by default, in which a user gets a market price based on network fees and market conditions. In the event of a price increase of over 3 percent, the transaction will be halted, and you can accept the new rate or request a refund.
If you prefer not to deal with market volatility, you can use a fixed rate mode to lock in the estimated rate for 20 minutes, but the fee is higher for that option.
Once you have entered your wallet address where you will receive the cryptocurrency, the next step is to confirm the order. Before you confirm the order, ensure your wallet can accept that cryptocurrency. For example, if you want to purchase Ethereum, you will need to enter your Ethereum address, not Bitcoin or another crypto. Otherwise, your coins can be lost and difficult to recover. Once you are satisfied with the order, accept the T&Cs and click on 'Confirm'.
The final step is to deposit the crypto that you want to sell (swap) to the ChangeNOW address. When your payment is completed, ChangeNOW will send the crypto to your designated wallet address. It generally takes 5 minutes for an order to be processed, but the time varies depending on the workload of the blockchain network. If you don't receive anything in your wallet for a few hours, make sure to contact the ChangeNOW help desk.
Credit & Debit Card Purchases
ChangeNOW acts as a fiat-to-crypto-exchange to allow users to purchase crypto with a fiat currency such as USD, GBP, AUD, NZD, JPY, EUR and many more. ChangeNOW's partnership with Simplex and Guardarian allows users to purchase crypto using a debit card or credit card.
To buy crypto with a debit card, follow these simple steps:
- Choose your currency from the widget (e.g. USD or EUR)
- Enter the amount of fiat you want to spend and select the crypto you want to buy
- ChangeNOW will calculate the estimated final amount with the best exchange rate
- Review the rate displayed and the amount of crypto you will receive
- Type in your cryptocurrency wallet address and email address
- Fill in your debit/credit card details (i.e. Visa or MasterCard)
- Complete the verification process and submit identification documents
- Complete the transaction and receive the crypto directly in your wallet
What Are The Fees?
Exchange fees need to be evaluated before deciding to use a cryptocurrency exchange. This is important when swapping a large amount of crypto to another crypto. The website does not state the crypto swap fees. However, based on our calculation, we estimate the conversion or swap fee is between 0.5% to 1.5% which are included in the proposed swap.
Credit Card Purchase Fees
A fee of approximately 5% is added to the ChangeNOW fee if you purchase cryptocurrency using a credit or debit card.
Deposit & Withdrawal
As ChangeNOW is a non-custodial service, there are no fees associated with deposits or withdrawals. The minimum network fee varies by blockchain, and it depends on the network load and the digital asset.
Is ChangeNOW Safe?
ChangeNOW appears to be a safe cryptocurrency exchange that is non-custodial. Users' funds are not stored on the platform, which reduces the risk of fraud, theft, and hacking. In the event that suspicious activity on the platform is detected, an internal risk management system will be triggered, requesting additional KYC verification from the user.
To conclude our ChangeNOW review, using the online platform to swap crypto to crypto is simple and without any hassles or complications. Crypto investors will find it useful and easy to use, and the best part is that you don’t need to create an account.
If you wish to purchase Bitcoin or another altcoin with fiat, the platform allows you to use a debit or credit card, but there is a higher fee associated with that option. It is therefore best to use cryptocurrency instead. Also, keep in mind that you need to submit identification to prove your identity when purchasing crypto with a national currency.