As in name, ChangeNOW shares a lot of similarities with Changelly; the main difference being they have no signup process and offer a flat 1.5% rate for each trade. They also offer a sizeable array of 235 different trading options, including 18 fiat currencies. ChangeNOW also supports several different stablecoin options, including USDT (OMNI, ERC20, TRC20), BUSD, USDC, DAI, and HUSD.
In addition, ChangeNOW offers the purchase of crypto with credit card, though the fee for this service can be as high as 12%. The high fees are due to the process being outsourced to a 3rd party payment processing company, some of which could require collection of personal data. Competing offers from the different payment processors will be displayed, though Changelly will automatically select the best deal for you.
If your goal is to remain anonymous while purchasing cryptocurrency, you most likely will want to avoid using ChangeNOW. The upside is everything will likely go according to plan if you don’t mind having to supply your personal information to them (this is actually a possibility with ChangeNOW).
On the downside, ChangeNOW has a reputation for confiscating coins from customers who refuse to respond to requests for KYC documentation. In one instance, ChangeNOW was accused of holding a significant amount of user coins over KYC issues, until their hand was forced by the community to finally return them to the customer, some several weeks later.
Another drawback of ChangeNOW is they have a maximum trade size of the equivalent of $2000 USD. To be honest, we really wouldn’t recommend depositing more than a couple hundred dollars worth of coins to begin with. Test the waters first to determine whether the process works to your satisfaction. There’s no worse feeling in the world than having your coins held hostage because an exchange decides to spring KYC requirements upon you.
We don’t mean to create a negative impression of ChangeNOW. Most people who use them have zero issues while appreciating their low fees and readily-reachable customer service. It should be stressed, however, that this may not be the exchange service for you if you don’t want to risk having to sacrifice your anonymity.
