ChangeHero
grade F
ChangeHero is a fast, secure, and reliable instant cryptocurrency exchange platform supporting over
grade F
What the documents mean for you
ChangeHero can hold your swap and demand ID whenever its automated risk system flags it; refuse and it returns your coins minus 10%, at least $100. It may cancel or reverse transactions, hands data to authorities on request, and bars US, EU and other regions.
ChangeHero runs an automated risk-scoring system that puts a flagged transaction on hold and then asks that user to pass AML and KYC verification, and the Terms separately reserve the right to demand identity documents and proof of source of funds at any time. There is no identity check at sign-up for a swap, so this is flagging-triggered KYC rather than mandatory KYC.
An automated risk-scoring system flags transactions and puts them on hold; checks also apply to occasional transactions worth 1,000 euros or more, to politically exposed persons, and to people in high-risk countries. ChangeHero then asks you for an identity document (ID card, passport or driving licence) and a photograph, and may ask where your funds came from. If you refuse, it cancels the exchange and sends the deposit back to the address it came from minus the network fee and a 10% operational fee, with a minimum of 100 USD.
Warnings
If the automated system flags your swap, ChangeHero holds it and asks for identity documents and a photograph. Declining means it cancels the exchange and keeps 10% of your deposit, never less than 100 USD.
The AML policy lists use of mixer or tumbler services, "secure, untraceable cryptocurrencies", Tor, and residence in a high-risk region among the criteria for a suspicious or high-risk transaction.
You must confirm you are not a national or resident of a long list of places, including the United States and its territories, the European Union, Japan, Ontario, Bolivia and Bangladesh. ChangeHero can also drop any other country at any moment.
How the score was reached
Privacy30/100
Trust49/100
Overall = (privacy × 0.6 + trust × 0.4) / 10, rounded = 4/10, grade F. Each attribute above rests on a clause quoted below or was assigned by a moderator; the rest is what the listing knows.
Attributes12 moved the score
May require KYC/SOF by policy/lawprivacy -6 · trust -4
The service may require identity verification, KYC or Source of Funds information, by its own policy or by law, at any time.
The Terms require users to consent to AML/KYC procedures and let ChangeHero ask for extra documents to identify the user and prove where the funds came from.
“To be able to avail the services, we require you to consent to pass through AML/KYC procedures that may be implemented on you according to our internal AML/KYC policies. During these procedures, ChangeHero reserves the right to request additional information and documents”
Terms, changehero.io
KYC depends on partnersprivacy -5
The service routes through partner providers whose KYC policies vary. The actual experience depends on which partner is used.
Fiat-to-crypto and crypto-to-fiat orders run through outside partners that apply their own AML/KYC rules, which you must accept separately.
“ChangeHero ensures that its fiat-to-crypto and crypto-to-fiat Partners have AML/KYC procedures in place. However, these partners have their own terms and proceedings of AML/KYC, to which the User’s consent has to be provided separately from the ChangeHero’s terms and proceeding of AML/KYC.”
Other, changehero.io
Service termination policytrust -4
The provider can terminate access at any time, without notice, at its discretion.
ChangeHero can end the Terms and delete your account immediately and without notice if it believes you broke them, or if it decides to stop the service.
“If We believe that you have breached any of the terms of these Terms, immediately without notice.”
Terms, changehero.io
Data sharingprivacy -3
Personal data may be shared with authorities or third-party providers for compliance.
The Privacy Policy states personal data may go to identity-verification companies, partner financial institutions and, on request, to government and law enforcement bodies.
“We may share your personal information with third-party services for identity or document verification to prevent any fraudulent activities.”
Privacy policy, changehero.io
May freeze or seize fundstrust -3
Internal monitoring may freeze or seize funds flagged for suspicious activity, stolen or sanctioned sources.
ChangeHero may hold flagged transactions and may take the money involved: it can deduct a penalty fee straight from the assets in the transaction.
“Where technically possible, the Company may deduct such fee from the assets involved in the relevant transaction or otherwise recover the amount as permitted by applicable law.”
Terms, changehero.io
Additional fees for high-risk transactionstrust -2
The service may charge additional fees on transactions it flags as high risk.
If ChangeHero decides a transaction abused its preferential conversion features, it charges up to 15% of the transaction volume on top of normal fees.
“the Company reserves the right to apply a compensatory fee of up to fifteen percent (15%) of the total transaction volume associated with the abusive activity.”
Terms, changehero.io
Transaction monitoringprivacy -1
Deposits are analysed for blacklisted or high-risk sources; flagged ones need verification.
An automated risk-scoring system screens operations, holds flagged transactions and sends the user into identity verification.
“ChangeHero has a risk-scoring based automated system aimed to spot suspicious activity during operations. A transaction will be put on hold if it is flagged by the system and the user will be asked to pass AML & KYC verification.”
Other, changehero.io
Accepts Moneroprivacy +5
This service accepts Monero, a privacy-focused cryptocurrency that provides enhanced anonymity.
Good customer supporttrust +5
Customer support is usually fast and helpful.
Mature servicetrust +5
This service has been operational for 9 years. While this indicates stability, it is not a future-proof guarantee.
No registration neededprivacy +5
Users can access and use the service without creating an account.
Legally registeredtrust +2
Legally registered as Herofintechs LIMITADA in Costa Rica.
What costs you most first. Tap one to read the clause it rests on, or what the listing knows, priced as kycnot.me prices it.
What the documents say
An automated risk-scoring system can stop your transaction and keep it on hold until you pass AML and KYC verification. ChangeHero does not disclose the criteria it uses.
“A transaction will be put on hold if it is flagged by the system and the user will be asked to pass AML & KYC verification. For security concerns, we are not able to disclose the specific criteria of our system.”
Other, changehero.io
If ChangeHero decides you misused the service, it may refuse to settle a transaction, cancel or reverse it, restrict your access and adjust the outcome of the trade.
“refusing to process, complete, or settle any transaction; * cancelling or reversing transactions where technically possible; * adjusting transaction outcomes to reflect fair and intended use of the Service.”
Terms, changehero.io
ChangeHero can refuse your transaction at any time and cut off the relationship if it suspects money laundering or if you do not cooperate with verification.
“In the event of any suspicious activity, fraudulent documents or uncooperative customer verification process, the Company reserves the right to refuse a transaction or operation with a customer at any time and to terminate the business relationship”
Other, changehero.io
ChangeHero hands your data to government bodies, regulators and law enforcement when they ask, and shares KYC results with legal authorities on a legitimate official request.
“We may share your data with the government and regulatory bodies, law enforcement upon request.”
Privacy policy, changehero.io
The service records your IP address, device, operating system and browser through third-party trackers, and keeps data until its legal obligations are met.
“We store the data until the necessary legal obligations are met and the purposes laid in this policy are served.”
Privacy policy, changehero.io
Using the Tor network and connecting from IP addresses in different countries is listed as a criterion for treating a customer as suspicious or high risk.
“The Customer uses TOR network services, constantly connecting from IP addresses in different countries.”
Other, changehero.io
ChangeHero decides each refund request case by case and its decision is final. Executed orders cannot be refunded and an order cannot be cancelled once placed.
“ChangeHero handles refund requests from the Users on a case-by-case basis. Any decisions by ChangeHero with respect to refunds or exchanges are final.”
Terms, changehero.io
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