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 when its automated system flags it; refusing returns your coins minus 10%, at least $100. It can refuse or reverse transactions it calls abusive, take up to 15%, and shares data with authorities on request.
ChangeHero runs an automated risk-scoring system that puts a flagged transaction on hold and then asks the user to pass AML and KYC verification, and it reserves the right to apply AML/KYC to specific users, addresses and transactions at any time. Identity checks are not demanded from everyone by default, but they can be triggered on any transaction, which matches shotgun KYC.
An automated risk-scoring system flags transactions and puts them on hold; checks are also triggered by suspicion of money laundering, by transactions of 1,000 euros or more, by sanctions or PEP matches, and by signals such as mixer use, high-risk regions and untraceable coins. You can be asked for an identity document (ID card, passport or driving licence), a photograph, and information on the source of your funds and wealth. If you refuse, ChangeHero cancels the exchange and sends the deposit back to the address it came from, keeping the network fee plus a 10% operational fee that is never less than 100 USD; it can also refuse the transaction outright and end the relationship.
Warnings
The AML policy lists a customer who uses Tor and keeps connecting from IP addresses in different countries as a criterion for a suspicious or high-risk transaction. That can lead to a hold and a demand for identity verification.
You confirm you are not in or a national or resident of Cuba, Iran, North Korea, Ontario (Canada), Crimea, Sudan, Syria, the United States and its territories, Bangladesh, Japan or Bolivia, nor in the European Union or any place where the company would need a licence it does not hold.
If you need extra help because of your own mistake or misuse, such as extracting assets or manual work on an exchange, ChangeHero can charge an additional 50 USD transaction fee.
The terms say your exchange may be delayed, for example when you have to pass the AML/KYC procedure, and you accept that ChangeHero is not liable for any loss caused by such delays.
How the score was reached
Privacy30/100
Trust45/100
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.
Attributes13 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 documents to identify the user and prove where the funds came from.
“During these procedures, ChangeHero reserves the right to request additional information and documents which are intended without limitation to identify our User and to prove the source of the funds.”
https://changehero.io/legal/terms-of-use
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 transactions go through outside partners who run their own separate AML/KYC procedures that you must agree to separately.
“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.”
https://changehero.io/legal/aml-kyc
May suspend your accounttrust -4
The service reserves the right to suspend or limit access for violations or arrears.
If it decides a user abused preferential conversion features, the company can restrict or suspend access to parts of the service.
“restricting or suspending access to certain Service functionalities;”
https://changehero.io/legal/terms-of-use
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 a term, 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.”
https://changehero.io/legal/terms-of-use
Data sharingprivacy -3
Personal data may be shared with authorities or third-party providers for compliance.
The privacy policy allows sharing personal data with governments, regulators and law enforcement, and with third-party verification firms and partnered financial institutions.
“We may share your data with the government and regulatory bodies, law enforcement upon request.”
https://changehero.io/legal/privacy-policy
May freeze or seize fundstrust -3
Internal monitoring may freeze or seize funds flagged for suspicious activity, stolen or sanctioned sources.
The service can stop a transaction at any time on suspicion, refuse sanctioned transactions, and cancel or reverse transactions it judges abusive.
“If the Company identifies a person who is the subject of sanctions or that a transaction planned or carried out by them violates sanctions, the Company shall refuse to conduct the transaction.”
https://changehero.io/legal/aml-kyc
Additional fees for high-risk transactionstrust -2
The service may charge additional fees on transactions it flags as high risk.
When an AML/KYC check is triggered and the user declines it, ChangeHero keeps a 10% operational fee, never less than 100 USD, out of the returned deposit.
“the deposited funds are then transferred back to the initial address the deposit was made from, subtracting the network fee and ChangeHero operational fee in amount of 10% from transferred assets but not less than 100 USD equivalent.”
https://changehero.io/legal/terms-of-use
Transaction monitoringprivacy -1
Deposits are analysed for blacklisted or high-risk sources; flagged ones need verification.
An automated risk-scoring system watches operations and puts flagged transactions on hold until the user passes 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.”
https://changehero.io/legal/aml-kyc
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
If you refuse the KYC/AML check, ChangeHero cancels the exchange and sends your deposit back to the sending address after keeping the network fee and 10% of the assets, at least 100 USD.
“ChangeHero has the right to terminate the exchange and the deposited funds are then transferred back to the initial address the deposit was made from, subtracting the network fee and ChangeHero operational fee in amount of 10% from transferred assets but not less than 100 USD equivalent.”
https://changehero.io/legal/terms-of-use
If ChangeHero decides you misused its preferential conversion rates, it can take up to 15% of the transaction volume and deduct it from the assets involved. It can also cancel or reverse transactions.
“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.”
https://changehero.io/legal/terms-of-use
The AML policy treats using a mixer or tumbler, living in a region it considers high-risk, and using untraceable cryptocurrencies as signs of a suspicious transaction.
“6. Mixer / Tumbler services are used for the transaction. 7. The customer appears to be a resident of a high-risk region. 8. The customer uses secure, untraceable cryptocurrencies.”
https://changehero.io/legal/aml-kyc
ChangeHero can pass your personal data to third-party identity and document verification companies and to the financial institutions it partners with for exchanges.
“We may share your personal information with third-party services for identity or document verification to prevent any fraudulent activities.”
https://changehero.io/legal/privacy-policy
ChangeHero keeps your data until its legal obligations are met and the purposes in the policy are served. No fixed deletion period is given for customer data.
“We store the data until the necessary legal obligations are met and the purposes laid in this policy are served.”
https://changehero.io/legal/privacy-policy
ChangeHero decides refunds case by case and its decisions are final. Requests made more than one calendar month after you sent the funds can be declined.
“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.”
https://changehero.io/legal/terms-of-use
Buying and selling crypto through the site, and optional custody of your assets, are handled by licensed outside firms: UAB Finch Technologies in Lithuania or MoneyMaple Tech Ltd in Canada.
“Purchase and sale of virtual assets (cryptocurrencies) conducted through the ChangeHero Web platform (Website) and optional virtual asset custody are processed by licensed providers chosen by the customer: UAB FINCH TECHNOLOGIES or MONEYMAPLE TECH LTD.”
https://changehero.io/legal/terms-of-use
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