ChangeNOW
grade F
ChangeNOW.io is a crypto super app built for every crypto move, giving newcomers, professionals, and businesses the tools they need to access Web3 finance.
grade F
What the documents mean for you
ChangeNOW can freeze your swap, move the coins to cold storage and demand ID and source of funds. It screens every transaction automatically, requires KYC from EU, US, Canada, Japan and other users, and may seize funds from banned countries.
The Terms make identity verification compulsory before using the Services for residents of the EU, the United States, Japan, South Korea, Singapore, Hong Kong, the UAE, Australia and Canada, and state that failing it blocks access. On top of that, an automated risk-management system checks every transaction and can stop an exchange for a KYC check, and ChangeNOW reserves the right to demand ID documents and information on the origin of funds at any time.
KYC is triggered by your country of residence (EU, US, Japan, South Korea, Singapore, Hong Kong, UAE, Australia, Canada), by an alert from the automated risk-management system, by fraud or stolen-fund reports, and by requests from third-party fiat providers. Verification runs through Sumsub, an outside identity-checking company, which asks for a government-issued ID, proof of source of funds and any other document needed; you get 3 days to complete it. If you refuse or fail the checks, ChangeNOW can refuse to run your current and future transactions, and it can freeze the exchange and move the coins to cold storage while it investigates.
Warnings
ChangeNOW says it holds user funds for at most one calendar year, after which it does not guarantee safekeeping of unclaimed money. Any return transaction fees are yours to pay.
If you send the wrong coin, use the wrong network, or forget or mistype a memo, ChangeNOW charges an extra 50 USD to process the refund, on top of network fees. You pay it through a separate invoice link.
If the contract of a deposited token does not match the official contract, ChangeNOW treats it as a fake token. It will neither exchange nor return such a deposit.
The service is closed to residents of the United Kingdom and Russia, to sanctioned countries, and to countries where crypto use is illegal. US residents are directed to the account-based ChangeNOW Pro route instead.
How the score was reached
Privacy17/100
Trust44/100
Overall = (privacy × 0.6 + trust × 0.4) / 10, rounded = 3/10, 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 let ChangeNOW ask for identity documents and information about where your money came from during the AML/KYC procedure.
“During the AML/KYC procedure, ChangeNOW reserves the right to request additional information and documents, including but not limited to scan of your ID document valid in your country and additional information of the funds' origin.”
https://changenow.io/terms-of-use/changenow-terms
Custodial walletprivacy -3 · trust -5
The service manages the private keys and keeps custody of funds, which requires trusting it.
Although the Terms call the service non-custodial, they also let ChangeNOW hold user funds for up to a year and move frozen funds to its own cold storage, which is custody.
“In limited cases ChangeNOW may store User's funds. The period during which the User's funds are stored by ChangeNOW is limited to 1 calendar year. After that ChangeNOW cannot guarantee the safe-keeping of the unclaimed funds.”
https://changenow.io/terms-of-use/changenow-terms
KYC depends on partnersprivacy -5
The service routes through partner providers whose KYC policies vary. The actual experience depends on which partner is used.
Outside providers plugged into ChangeNOW run their own identity checks under their own rules, so what you are asked for depends on which provider handles the operation.
“The App itself does not require account creation. However, third-party providers, if their services are required/used for the respective operations, may conduct AML/KYC under their own policies and licenses.”
https://changenow.io/terms-of-use/mobile
Service termination policytrust -4
The provider can terminate access at any time, without notice, at its discretion.
ChangeNOW can cut off your access for any reason, straight away, without telling you first.
“ChangeNOW reserves the right to terminate or block your access to the Website for any reason, including but not limited to breaches of these Terms, in its sole and absolute discretion, immediately without prior notice and without liability.”
https://changenow.io/terms-of-use/changenow-terms
Data sharingprivacy -3
Personal data may be shared with authorities or third-party providers for compliance.
The Privacy Policy allows sharing user information with law enforcement and regulators, and the Terms allow passing IP addresses to business partners and government bodies.
“We may share your information with law enforcement or regulatory agencies, as may be required by law.”
https://changenow.io/privacy-policy
May freeze or seize fundstrust -3
Internal monitoring may freeze or seize funds flagged for suspicious activity, stolen or sanctioned sources.
ChangeNOW can freeze an exchange for as long as it wants while it investigates, and it can seize funds from users in prohibited jurisdictions.
“In limited cases (such as to verify your identity in order to pass the AML/KYC procedure), we reserve the right to freeze your exchange transaction for any period of time necessary to complete the investigation and AML/KYC procedure.”
https://changenow.io/terms-of-use/changenow-terms
Transaction monitoringprivacy -1
Deposits are analysed for blacklisted or high-risk sources; flagged ones need verification.
An automated risk-management system checks every transaction, and flagged exchanges are stopped for a verification check.
“The Users don't need to create accounts: you don't need to register or log in to use the Website. However, ChangeNOW uses an automated risk management system to check all the transactions made by the Users.”
https://changenow.io/terms-of-use/changenow-terms
Accepts Moneroprivacy +5
This service accepts Monero, a privacy-focused cryptocurrency that provides enhanced anonymity.
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.
The Terms state that you do not have to register or log in to use the website.
“The Users don't need to create accounts: you don't need to register or log in to use the Website.”
https://changenow.io/terms-of-use/changenow-terms
Non-custodial protocoltrust +3
The protocol never takes custody of the user's funds during an exchange.
Legally registeredtrust +2
Legally registered as CHN Group LLC in Estonia.
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 are in a banned country, ChangeNOW can take your funds and give them to a charity of its choosing.
“ChangeNOW may seize any funds from the Users in these jurisdictions and donate them to a charity at ChangeNOW's sole discretion.”
https://changenow.io/terms-of-use/changenow-terms
While it investigates you, ChangeNOW can move your frozen coins into its own cold storage. There is no stated time limit on the freeze.
“While the investigation is ongoing, ChangeNOW reserves the right to transfer the frozen funds to a cold storage. It would be done to ensure their safekeeping.”
https://changenow.io/terms-of-use/changenow-terms
If you live in the EU, US, Japan, South Korea, Singapore, Hong Kong, the UAE, Australia or Canada, you must pass identity verification before you can use the service at all.
“If you are a user whose country of residence is located in the European Union (EU), the United States of America, Japan, South Korea, Singapore, Hong Kong, the United Arab Emirates (UAE), Australia, or Canada, you must satisfy the mandatory KYC requirement before using the Services.”
https://changenow.io/terms-of-use/changenow-terms
An automated system reviews transactions. If it flags yours, ChangeNOW stops the exchange and sends you a verification link; the link works for 3 days.
“If a User's exchange has been stopped for a KYC check due to an alert from ChangeNOW's risk-management system, ChangeNOW provides the User with a link where they can pass the verification procedure in a safe and secure manner.”
https://changenow.io/terms-of-use/changenow-terms
If you refuse the checks or do not hand over the requested documents, ChangeNOW can refuse to carry out your current and all future transactions.
“If you refuse to pass through the AML/KYC procedure or don't provide ChangeNOW with the requested documents and information, ChangeNOW has the right to refuse to execute your transactions (current and future).”
https://changenow.io/terms-of-use/changenow-terms
On a theft report ChangeNOW can stop the funds mid-trade, and it only releases them after a law enforcement authority sends a written request.
“In order to return such funds, ChangeNOW will need a request from a Law Enforcement Authority, which clearly states that the mentioned funds should be returned.”
https://changenow.io/terms-of-use/changenow-terms
If law enforcement is investigating you, or ChangeNOW has other reasons to hold the money, it does not promise a refund.
“Additionally, if a user is under investigation by law enforcement agencies or there are other reasons to withhold funds, we cannot guarantee refunds.”
https://changenow.io/terms-of-use/changenow-terms
ChangeNOW can pass user data, including IP addresses, to its business partners or to government bodies on their request.
“We are entitled to transfer some User's data (including IP-addresses) to our business partners or governmental bodies at their request to facilitate the prevention and disclosure of prohibited or illegal actions.”
https://changenow.io/terms-of-use/changenow-terms
You promise not to hide your IP address with a VPN, proxy or similar tool, and ChangeNOW may read your IP and refuse service based on it.
“you shall not use proxy and VPN or other software for concealing your IP-address.”
https://changenow.io/terms-of-use/changenow-terms
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