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 exchange, move the funds to cold storage, and seize funds from users in banned countries. EU, US, Canada, Japan, Australia and other residents must pass KYC. An automated system screens every transaction and can demand ID.
The Terms require residents of the EU, the USA, Japan, South Korea, Singapore, Hong Kong, the UAE, Australia and Canada to complete mandatory KYC before using the Services, and say failure to do so blocks access. On top of that, an automated risk management system checks every transaction and can stop an exchange for identity verification, and ChangeNOW reserves the right to demand ID documents and proof of the origin of funds at any time.
KYC is mandatory if you live in the EU, the USA, Japan, South Korea, Singapore, Hong Kong, the UAE, Australia or Canada. For everyone else, their automated risk system can stop a transaction and start KYC when a deposit looks unusual, when a fraud or stolen-funds report comes in, or when a fiat partner asks for it. They ask for a government ID and documents on where your money came from, handled by the verification provider Sumsub; you get 3 days to complete it. If you refuse, they refund the transaction, but if they suspect the funds are linked to illegal activity they can freeze them for as long as the investigation takes.
Warnings
If law enforcement is investigating you, or if they have other reasons to hold funds, ChangeNOW states it cannot guarantee a refund. The same applies if a coin is delisted or loses its value.
For account holders, ChangeNOW reserves the right to convert any remaining balance of a delisted asset into a stable asset of its choice, at the last market rate and without prior notification.
For registered and verified users in the EU and a long list of US states, crypto-to-crypto exchanges are processed by third-party payment processors, and those firms' own terms govern the transaction.
How the score was reached
Privacy13/100
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.
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 let ChangeNOW ask for identity documents and information about where your funds came from during an AML/KYC check.
“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.”
Terms, changenow.io
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 allow ChangeNOW to hold your funds for up to a year and to move frozen funds into its own cold storage.
“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.”
Terms, changenow.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.
The AML/KYC Policy lists demands from third-party providers used for fiat services as one of the triggers that can start identity verification.
“requests from third-party providers involved in fiat-related services;”
Terms, changenow.io
Risk-based refund on AML flagprivacy -4
Refund behaviour on AML flags depends on the transaction risk score. Low-risk deposits are returned; high-risk deposits may require KYC.
If their risk system stops an exchange, refusing verification gets you a refund, but a transaction they suspect of links to illegal activity is frozen instead.
“The verification time window is 3 days, and the User can refuse to pass the procedure; in that case, the User will be provided with a refund. In limited cases (if the transaction is suspected of being connected to illegal activities) we reserve the right to freeze your exchange transaction”
Terms, changenow.io
Service termination policytrust -4
The provider can terminate access at any time, without notice, at its discretion.
They can cut off your access for any reason, immediately, with no notice and no liability, and without explaining why.
“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.”
Terms, changenow.io
Data sharingprivacy -3
Personal data may be shared with authorities or third-party providers for compliance.
Your data, including your IP address, can be handed to business partners and government bodies, and to law enforcement or regulators.
“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.”
Terms, changenow.io
May freeze or seize fundstrust -3
Internal monitoring may freeze or seize funds flagged for suspicious activity, stolen or sanctioned sources.
They can freeze a transaction for as long as an investigation takes and move the frozen coins to their own cold storage.
“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.”
Terms, changenow.io
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 ones are put on hold pending clarification or documents.
“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.”
Terms, changenow.io
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.
Using the exchange on the website does not require creating an account or logging in.
“The Users don't need to create accounts: you don't need to register or log in to use the Website.”
Terms, changenow.io
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 it picks.
“ChangeNOW may seize any funds from the Users in these jurisdictions and donate them to a charity at ChangeNOW's sole discretion.”
Terms, changenow.io
They can freeze your exchange for as long as an investigation takes and move the frozen coins into their own cold storage.
“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.”
Terms, changenow.io
Residents of the EU, USA, Japan, South Korea, Singapore, Hong Kong, the UAE, Australia and Canada must pass KYC before using the service or they cannot use it.
“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.”
Terms, changenow.io
If you refuse verification or do not hand over the requested documents, they 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).”
Terms, changenow.io
On a theft report they can stop a transaction, and they return the funds only after a law enforcement authority sends a written request, including a hard copy by post.
“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.”
Terms, changenow.io
They can pass user data, including IP addresses, to business partners and government bodies on request, and share documents with the verification provider Sumsub.
“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.”
Terms, changenow.io
You agree not to use a proxy, a VPN or any other tool that hides your IP address while using the service.
“you shall not use proxy and VPN or other software for concealing your IP-address.”
Terms, changenow.io
In some cases they hold your funds, and after one calendar year they no longer guarantee that unclaimed funds are kept safe. You pay the fees for any return.
“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.”
Terms, changenow.io
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