What is ChangeHero?
ChangeHero is a cryptocurrency platform based in Hong Kong. It launched in 2017.
ChangeHero is more of a window into other exchanges' order books than anything else. Primarily Binance and Huobi. You could view it more as a broker than a regular cryptocurrency exchange platform. When you access the platform, you input certain information in the platform's interface. That information you need to provide differs dependent upon if you would like to purchase crypto with fiat, exchange crypto, or sell crypto for fiat. After you have provided the relevant information, you press "Exchange", and the platform presents you with the best offers out there right now.
As advantages with the platform, ChangeHero mentions six different aspects. They highlight that they have 24/7 support, that the transactions are very fast (14 minutes on the date of first writing this review - 27 August 2021), and that the user does not need to undergo registration in order to trade at the platform. They also emphasize that they have a lot of supported cryptos, good rates and that the transactions are safe seeing as the platform is non-custodial.
On the date of first writing this review (27 August 2021), these were the daily statistics presented on ChangeHero's website:
ChangeHero does not allow US-investors on its exchange. So if you’re from the US and would like to engage in crypto trading, you will have to look elsewhere. Luckily for you, if you go to the Exchange List and use our Exchange Filters, you can sort the exchanges based on whether or not they accept US-investors.
ChangeHero Trading View
Every trading platform has a trading view. The trading view is the part of the exchange’s website where you can see the price chart of a certain cryptocurrency and what its current price is. There are normally also buy and sell boxes, where you can place orders with respect to the relevant crypto, and, at most platforms, you will also be able to see the order history (i.e., previous transactions involving the relevant crypto). Everything in the same view on your desktop. There are of course also variations to what we have now described. For instance, at ChangeHero, they focus more on simplicity and speed than on availability of different trading tools. Here's the swap interface at ChangeHero:
It is up to you – and only you – to decide if the above swap interface is suitable to you.
ChangeHero Trading fees
Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Many exchanges divide between takers and makers. Takers are the one who “take” an existing order from the order book. Makers are the ones who add orders to the order book, thereby making liquidity at the platform.
ChangeHero does not have taker and maker fees, as they don't have takers and makers. There are just people using the service to trade. When a user wants to exchange crypto, they come to the website, select the pairs and send us the crypto. The platform executes the swap quickly and then returns the output funds to the user's wallet address. For this, they charge a fee of 0.50% if the user chooses to use a "Best Rate Transaction", and 0.70% if the user chooses to use a "Fixed Rate Transaction".
ChangeHero Withdrawal fees
This platform doesn't really have any withdrawal fees, seeing as you never actually trade on this platform. The platform never holds custody of your assets to begin with, so they can't charge fees for a transaction they can't execute. Accordingly, we have marked this platform's withdrawal fees as 0.
In order to trade here, you must have cryptocurrency to begin with. The only asset class you can use to trade at ChangeHero is cryptocurrency. However, if you really like ChangeHero but you don’t have any crypto yet, you can easily start an account with an exchange that has “fiat on-ramps” (an exchange where you can deposit regular cash), buy crypto there, and then transfer it from such exchange to this exchange. Use our Exchange Filters to easily see which platforms that allow wire transfer or credit card deposits.