- Have you ever swapped your Crypto tokens Instantly?
So, today I have brought something interesting for you which I have found accidentally and think that you may benefit from the same. Well, this happened a few weeks ago when I was trying to exchange some altcoins and was looking for a method where I can do it quickly.
During this exploration, I came across ChangeHero which helped me to exactly do the same instantly.
So, after sufficiently using the platform, I have shared my views about ChangeHero with you.
ChangeHero Review- Instant Non-Custodial Exchange
ChangeHero is an instant Non-Custodial Exchange that requires no registration and performs your transactions at a fast pace. Further, Non-Custodial means that ChangeHero does not have access to your private keys or your funds. Only the user can have access to his or her private keys.
Further, there is no need for KYC documentation (though KYC is needed for some exceptional transactions which we will discuss shortly). For Example, all you have to do to buy Bitcoin is to enter the amount of the sum you want to exchange, your wallet address, and click Confirm.
ChangeHero was established in 2018. The company is incorporated in HongKong. There is not much information about its formation and the founders’ background, the exchange claims to have been backed by a distributed team with sufficient experience in the crypto industry.
Nevertheless, my experience transacting with the exchange was satisfactory and quick. Popular crypto wallets like Exodus, Trezor and CoolWallet S have already integrated the ChangeHero exchange API to provide their users with the instant exchange of cryptocurrencies within the wallet.
So let us understand what exactly this exchange offers to its users.
Features of ChangeHero Exchange
ChangeHero is idle for beginners and for experienced users alike. They don’t have a mobile app yet, but their web app is full of features that you may need from a quick crypto swap service.
Let’s have a look at some of the top features of ChangeHero:
- You can buy crypto with a credit or debit card. Further, you can sell crypto for fiat (USD, EUR, RUB, and many more). Please note that the platform uses a third-party solution and does not support Paypal.
- ChangeHero is integrated with some of the largest crypto exchanges such as Binance and Huobi. This provides you with the best price available for a token in the market.
- ChangeHero is a non-custodial service provider, i.e. the exchange does not have access to your private keys or your funds
- ChangeHero has an option where it provides a fixed rate of exchange – Bitcoin value changes often due to the market conditions and other cryptocurrency prices also vary continuously. Fixed-rate enables you to avoid fluctuations in the market. The exchange finds a good exchange rate for the selected pair and freezes the rate for 15 minutes. The final amount you receive will be the same as the estimated amount.
- No requirement of user registration on the platform
- KYC is required for only the transactions flagged by the system
- A user can stay connected with the updates being made by the exchange through their social media accounts as follows:
ChangeHero Transaction Fee
The fee for transacting on the exchange is 0.5% of the transaction value.
What are ChangeHero KYC Requirements?
- For smaller transactions, ChangeHero does not require KYC.
- 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.
- ChangeHero may share the information received as a result of the AML (Anti Money Laundering) /KYC procedure with the legal authorities if provided a legitimate official request.
- The transaction limit for purchase of Cryptocurrency with Fiat currency
- Without verification – up to 300 Euros
- With verification – up to 10,000 Euros per month
- The transaction limit for the sale of Cryptocurrency in Fiat Currency
- Without verification – up to 300 Euros
- With verification – up to 15,000 Euros per month
Benefits of transacting through ChangeHero
The major benefits that will force you to transact through this exchange can be as follows:
- The exchange has a very interactive and a user-friendly interface
- The exchange provides 24/7 customer support
- The service provided by the exchange is a non-custodial service
- No KYC requirements for most of the transactions
- The transactions are anonymous and quick
Limitations of ChangeHero
As an instant swap service, ChangeHero is pretty solid. Well I was trying to find certain cons or limitations of this service, and I could think of some of the limitations such as:
- Other exchanges like Binance and FTX have better liquidity and price competitiveness, which may be idle for huge transactions.
- The exchange has relatively large crypto buying fees, which may be seen as negative for budget constraint users. However, the instant swap feature with no KYC covers up this feature.
- The exchange lacks a mobile app
- Transactions that are flagged for KYC requirements cannot be kept anonymous and could be a hassle.
Conclusion – ChangeHero Review – 2021
After using ChangeHero exchange for a while, I think that the exchange is beneficial for quick transactions, especially for Altcoins which are not available on a specific exchange. The user interface is easy to use and integrated with big exchanges.
At the same time, the transaction fees are 0.5% which is not idle for a large volume of transactions, and in such cases, you are better at using one of the best crypto exchanges where fees are lower.
Harsh Agrawal is the Crypto exchange and bots expert for CoinSutra. He founded CoinSutra in 2016, and one of the industry’s most regarded professional blogger in the fin-tech space.
An award-winning blogger with a track record of 10+ years. He has a background in both finance and technology and holds professional qualifications in Information technology.
An international speaker and author who loves blockchain and crypto world.
After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.
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