FAQ

FAQ

What is ChangeNOW?

ChangeNOW is a simple and fast exchanger. You do not need to register, and the exchange will have no limits. We"ll take an honest commission and quickly process with an exchange for you.

How does ChangeNOW work?

The ChangeNOW system is integrated into multiple cryptocurrency trading platforms, including Poloniex and Bittrex. We also work with exchange partners. We choose the best exchange rate and offer it to you.

Why trust us?

ChangeNOW is a team of experienced blockchain developers. With the Changenow platform users don’t need to create accounts. This allows users to avoid identification or financial theft. We offer the best rates as we use reliable trading platforms.

How fast will my transaction be processed?

The processing speed ranges from about five to twenty minutes, depending on how long it takes for a block to happen in the network. Most orders process in just a few minutes. If the transaction is large (more than 1 BTC), the processing may take a little longer, depending on the size of your transaction and capacity of the block.

Where do I store my funds?

If you want to own a cryptocurrency, you need to store it somewhere. Different wallets are tailored specifically for different operations with the transactions. There are official wallets, web purses and other applications. For each currency you need to have a separate wallet. The address of the wallet is a unique combination of numbers and letters from 26 to 35 characters. It usually looks something like this: 17bkZPLB4Wn6F347PLZBR34ijhzQDUFZ4ZC.

How do I get a wallet address?

When you decide which coin you would like to acquire, find a reliable wallet. Each coin has an official one. When you create a wallet, you automatically get an address and a private key. Keep your private key to yourself and don’t show it to anyone.

For security reasons, we do not ask for your private keys and nobody should.

What is the recipient address?

If you want to buy a coin, you need to send it to a specific wallet. Each coin has its own one. The recipient address is your wallet, to which the coin is transferred after the exchange.

What is the transaction hash?

Each transaction is registered in the blockchain and has its own unique identification code, called a Hash (also referred as “TX”). This unique code allows you to verify its validity in the blockchain open ledger.

How to cancel a transaction?

Blockchain operations are irreversible. If the funds are sent, the transaction cannot be canceled by anyone. Therefore, thoroughly check all the payment details before sending money.

Why the final amount of funds is different from the initial amount?

It takes some time to process transactions. Due to high volatility of the currency the time speed is crucial, however the final exchange rate can differ both in positive or negative direction. What we guarantee is the best rate at the very moment of an exchange operation.

How long does it take for a transaction to be finished?

The transactions on ChangeNow usually take from 5 to 30 minutes. If your transaction takes more time, it may be due to various issues:

  • DDoS attacks. Unfortunately, such problems happen from time to time but we are always happy to help you and solve any issues
  • Coin updates. We can update the client and disable some coins. As soon as we turn it back-on, you will get your money.
  • The blockchain is overloaded. Too many transactions are waiting to be included to the blockchain, and yours might wait for its turn, too. Sometimes you’ll need to wait a little longer.

What is the minimal amount for exchange?

There are no limits for cryptocurrency exchanges on ChangeNow. However for the transaction to be carried out, the fee is charged by the blockchain itself. The amount sent must be sufficient to cover all the blockchain fees.

What is a fixed rate exchange?

A fixed rate exchange is an exchange performed with the same rate which is displayed to the client in the beginning of an exchange, regardless of the subsequent rate fluctuations.

How does it work?

You create an exchange and make a deposit. You have 20 minutes to deposit your exchange funds; during that time, we guarantee that the rate won't change in any way. You will receive the exact amount that was displayed to you.

How is it different from the standard flow?

During the standard flow, each transaction may have its own unique exchange rate because of rate fluctuations, market conditions, and network fees. The rate might change at any moment; as a result, you might receive more or less than you thought you would.

Implementing fixed rate exchanges leads us to lay down a small reserve to guarantee your safety from exchange rate fluctuations. It's included into the rate you will see at the beginning of the exchange, no any other fees included.

Because of the rate risks we take, the fixed rate may differ from the stardard flow's rate, however, it gives our users confidence in the amount they will receive.

When should I choose fixed rate flow?

You may choose the fixed rate flow if you want to be certain that the amount of crypto you'll receive will stay the same no matter what. With fixed rate exchanges, our users will enjoy the stability of their exchanges and be safe from sudden rate drops.

Do I need to register to use ChangeNOW?

With the ChangeNOW platform users don’t need to create accounts: you don't need to register/log in to use ChangeNOW.

However there are some exceptions.

ChangeNOW uses an automated risk management system to check all transactions. Each case will be considered individually. According to European AML directives, KYC regulations and platform requirements, we will ask you to provide you a scan of your ID document valid in your country and additional information of the funds origin.

KYC/AML explained

KYC stands for Know Your Customer. AML is for Anti-Money Laundering. Cryptocurrencies are often considered to be used for illegal operations that allow you to withdraw money from the shadows. In order to prevent this, it is necessary to take measures to ensure customer verification and security of financial transactions. KYC/AML application convinces the regulatory authorities of the absolute legality of the transaction carried out by you. Thus, you confirm that you are a law-abiding citizen and the state has no reason to address any claims towards you.

ChangeNOW has an automated risk prevention system implemented. If a transaction is marked suspicious by this system, the exchange is delayed and the customer in question is then asked to pass KYС. There is a certain set of criteria that the system employs; however, they can’t be made public, otherwise there will be people who will try to abuse those criteria in order to cheat the algorithm. This system has proven to be very useful against money launderers and scammers, since the KYC process allows us to tell an honest customer apart from a scammer very quickly and without any trouble. Each KYC case is handled individually. We will apply a set of standard procedures to our KYC clients, among which are asking a client to send a minimal set of documents that will allow us to confirm their identity and provide the source of funds. We aren’t going to keep this client’s funds. They’re stored on a cold wallet created specifically for his case. If the KYC procedure has failed we reserve the right to submit a claim to the legal authorities (Interpol, Europol, and other).

We do everything in our power to maintain our reputation as a legitimate, law-abiding exchange service that can be safe for use by anyone, be it a regular person who doesn’t deal with crypto much or an experienced trader or miner.

Why do we ask for your email?

In order to purchase crypto with USD or EUR, you will need to type in your email address. It is a necessary step for user identification required by our partner, Indacoin. Indacoin sets a limit for customers to 3000 USD/EUR.

To comply with the Indacoin identification regulation, we recommend to use the same email address together with a debit/credit card information for each transaction.

Can I buy cryptocurrency with fiat through ChangeNOW?

Yes, you can buy cryptocurrency with a USD/EUR card. Here is a detailed instruction on how to do that.

Can I make a profit with ChangeNOW?

Yes, you can become a member through our affiliate program and make 0.4% of total turnover. Here is the detailed instruction.

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