Changelly vs ChangeNOW (2026): Fees, KYC & Refunds

Short answer: Changelly publishes a clearer price on floating-rate swaps (0.25% of the amount you receive, plus the network fee), and its refunds for failed floating swaps usually take 1 to 7 business days. ChangeNOW lists more assets on more chains and has a fixed-rate safeguard if the market moves 3% or more. However, it does not publish a fee percentage, it charges $50 for refunds caused by user error, and its terms make KYC mandatory for residents of the EU, US and several other countries. Both are custodial-for-a-moment instant swaps with risk-based holds, and both hold a SwapRaven grade of C. Most people will get a better deal by comparing both against a few better-graded alternatives before sending.

Changelly and ChangeNOW are two of the oldest and best-known no-account swap services. They look almost identical from the outside, so the differences that matter are in their fee pages and terms of use. This comparison is drawn from both services' own published terms, FAQs and AML/KYC policies as of October 2026, plus SwapRaven's listing data. This is general information, not financial or legal advice; terms change, so re-check before a large swap.

Changelly vs ChangeNOW at a glance

Fees: which is cheaper?

On paper, Changelly is the easier one to price. Its fee page states 0.25% of the output amount on floating-rate swaps, plus the blockchain's network fee. Fixed-rate swaps carry what Changelly calls a "dynamic fee" that covers volatility. It does not give that as a percentage, so you can only judge it by comparing the final quote.

ChangeNOW doesn't publish a percentage at all. Its terms say its cut "is included in the final rate". For fixed-rate orders it adds a reserve to the rate you see, and its FAQ is honest that a fixed rate can come out better or worse than a floating one.

The practical takeaway is that neither headline fee tells you what you'll receive. Request a quote for the same pair and amount on both, at the same moment. Compare the amount you will receive, not the advertised fee. An aggregator such as Trocador or SwapSpace does that comparison for you and often includes both services. For background, see fixed vs floating rates and typical instant swap fees.

KYC and account holds

Neither service asks for an account or ID on an ordinary swap. Both run deposits through risk scoring, and both can pause a swap that gets flagged:

• Changelly's AML/KYC policy says a flagged transaction "will be put on hold". You're then asked for a government ID through its verification provider, and accounts that fail verification can be blacklisted. There's no fixed deadline for resolving a hold.
• ChangeNOW's terms say it may freeze an exchange "for any period of time necessary" during an investigation. A verification link it sends stays active for 3 days. Separately, its terms list countries whose residents must always complete KYC, including the EU and the US. If you live in one of those places, ChangeNOW isn't a no-KYC option for you, whatever a third-party list says.

That is why both are rated "KYC likely if suspicious" on SwapRaven rather than "no KYC". If avoiding ID checks matters to you, filter the directory by KYC policy and read the no-KYC swap checklist. If your coins have passed through a mixer or a flagged address, read how to avoid AML flags before choosing either service.

Refunds and mistakes

Refund rules are where these two differ most:

• Changelly says refunds for failed floating-rate swaps usually take 1 to 7 business days, minus fees, once you confirm a refund address. Reusing a one-time fixed-rate deposit address can push that to about 20 business days. It also notes that deposits from SegWit BTC addresses can only be refunded in BTC.
• ChangeNOW treats completed exchanges as final. It refunds only to the original or a specified refund address, and charges a $50 fee on refunds caused by user error, such as a wrong network. On fixed-rate orders, if the market moves 3% or more before your deposit lands, you can choose between the new market rate and a refund. After a failed KYC check, funds go back to the sending address minus network fees.

Most refunds come from avoidable mistakes such as the wrong network, a missing memo or tag, or sending outside the quote window. Our guide to common instant swap mistakes covers each one. Always fill in a refund address if the form offers one.

Coins and features

Both cover the mainstream coins and a long tail of tokens. ChangeNOW advertises 1,000+ assets on 110+ blockchains, and SwapRaven's listing tracks more than a thousand of them. Changelly states between 1,000 and 1,200 cryptocurrencies across its pages. Both offer mobile apps, an API and fiat on-ramps through partners. ChangeNOW is also widely used as a back-end liquidity source by other swap sites, so you may be using it already without knowing it.

Where you can use them

Changelly's terms list the United States (including all territories), the UK, Germany, Japan, India and Turkey among its restricted countries. ChangeNOW's main terms bar citizens and residents of the UK, the US, India and Russia. US users can use the service after creating an account under the ChangeNOW Pro terms. Check the current list for your country before you send anything.

Which should you use?

• You want a clear floating-rate price: Changelly, because its 0.25% floating fee is stated up front.
• You need a rare token or an unusual chain: ChangeNOW usually has the wider coverage.
• You live in the EU or US: read the restrictions above first. ChangeNOW requires KYC for you, and Changelly lists the US as restricted.
• You want the best rate either way: use an aggregator, or compare both with the alternatives below.

Better-graded alternatives

Both services are graded C on SwapRaven, mainly because of their KYC-on-flag policies and open-ended holds. If either is a concern, consider these instead:

• Trocador (A): an aggregator that shows a KYC rating for every partner and adds no fee of its own.
• SimpleSwap, StealthEX and LetsExchange (B): large no-account exchanges with broad coin coverage.
• PegasusSwap (A): states a never-KYC policy.

We also compare FixedFloat vs ChangeNOW, list Changelly alternatives, and rank the best crypto swap exchanges overall.

FAQ

Is Changelly or ChangeNOW safer?

Both have operated for years, which is a good sign, and neither holds your funds beyond the swap itself. The real risk with either is a compliance hold on a flagged deposit, which both terms allow without a fixed time limit. Test with a small amount first and check each listing's uptime. See how to tell if a swap exchange is legit.

Does Changelly or ChangeNOW require KYC?

Not for a normal swap, unless you live in one of the countries where ChangeNOW's terms make KYC mandatory. Both can ask for ID if their risk system flags your deposit.

Can I use Changelly or ChangeNOW in the US?

Changelly lists the US as a restricted country. ChangeNOW's main service excludes US residents, but its terms allow US users with an account under ChangeNOW Pro.