Why Do Some People Think We are Scam?
When we consider using a new cryptocurrency service, the first question we ask ourselves is — can we trust this platform? We’ve all seen the news about crypto scam, and some of us have even experienced it ourselves.
ChangeNOW has drawn a lot of attention in the past years, and just as any other service, we were claimed to be scam multiple times. People who say it have their reasons: sometimes technical difficulties cause lags in transaction times that upset our users. From time to time, rapid exchange rate fluctuations make some of our customers receive less money than expected, and they are right when criticizing us. This is a sign that we have things to improve rather than an indication that we are engaged in fraudulent activity.
This article will shed some light on how our service operates.
Is ChangeNOW Reliable?
Clients usually judge the legitimacy of a service based on two factors: their user feedback and numerous indirect signs of reliability. Let’s look at both of them.
Most of the negative reviews are related to poor transaction time or lengthy response by the support team. We acknowledge that our users sometimes encounter such situations. It is worth remembering that as an on-chain service, we are dealing with a volatile market and complex IT architecture. Some of these lags are caused by tough market situations (e.g. high Bitcoin network congestion), while some — by our own weaknesses. We always acknowledge such cases (like here), learn our lessons and strive to get better for our clientele.
Here are some facts about ChangeNOW: how we work, where we are based, and some more. They might help you draw your own conclusions.
- ChangeNOW has been operating since 2017. For the cryptocurrency market, this is quite a while: the service was founded long before many platforms that are popular now. We entered the market even before the crypto boom of 2017. If someone is considering ChangeNOW as a scam, here’s an argument: by 2021, any fraudulent service founded in 2017 would have probably been dead a long time ago thanks to the unsleeping vigilance of crypto professionals and millions of enthusiasts.
- Many outstanding crypto projects partner with ChangeNOW. Cryptocurrency exchanges that provide us with liquidity include Binance, Bitfinex, and OKEX. Wallets as Atomic and Cake Wallet use ChangeNOW as their built-in exchange tool. We also partner with Ledger and Trezor wallets, Coinswitch, Simplex, Coinify, and many other reliable projects and platforms.
- We do not store your funds and never ask you for your private keys or any other private information. When we ask you to deposit your funds for the exchange, that means we only need them to perform a quick swap and send the exchanged coins back to you.
- We have developed apps for iOS and Android that have been downloaded and reviewed by thousands of users.
- We take our measures to fight crime in the crypto space. Since 2017, we have returned over $1.5 million of funds that were stolen on other services and were tried to have been laundered through our service. Our risk-management system stops suspicious transactions, and we ask their senders to undergo a proper KYC check.
- We are based in Seychelles — a country with regulations favorable to crypto. Anyone who’d want to file an official complaint or report a crypto scam if we are alleged has the tools to do so.
Why Do Users Choose ChangeNOW?
There are two types of unreliable services: fraudsters and honest projects that are just poorly made. Fraudsters don’t usually bother themselves with a lot of coding: they spend minimal resources to create a product that will attract users and then perform an exitscam. Poorly made platforms are sometimes hacked.
ChangeNOW has created a quality product that has been drawing users’ attention for 4 years so far. And, as said above, there’s just nothing to hack and steal — we don’t store your funds and private info.
Here are our main features and perks:
- We allow for swapping 200+ cryptocurrencies without registration. On ChangeNOW, you can swap any coin anonymously in just 4 simple steps, and it will take you 5 minutes on average.
- We are a non-custodial service, so we don’t control your funds and never ask for your private keys.
- Our fees are about the mean average on the market which is around 0.5%. We state openly that the exchange rate fluctuations can affect the outcome amount.
- Fiat exchanges are possible: you can buy 200+ coins with your Visa or MasterCard and sell popular cryptos like Bitcoin or Ethereum.
- The website is available in almost 30 languages.
- Our support team is available 24/7 and quickly resolves both standard and complicated cases.
Is ChangeNOW Trustworthy?
In this article, we tried to list some statements to persuade you that our service is among legit exchanges. If we’ve achieved our goal, we’re happy and welcome you to try swapping your coins now. However, you may have your own criteria of reliable exchanges and trustworthy financial services that we haven’t covered. In this case, feel free to read reviews on Trustpilot or try your own exchange with a small sum.