Comparison of Phemex vs Changenow [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Phemex vs Changenow comparison!

Your expert: Alejandro Borja

Phemex

Your expert: Xavier Tarrasó

Changenow

Main points

Fees

0,10%

Earns

Customer service

3/5

hidden

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.1 – Low fees with a focus on derivatives trading.

4.0 – Competitive fees with a focus on instant crypto swaps.

Level

0,10%

hidden

Brief explanation

Phemex implements a transparent and competitive commission structure, which is one of its standout features. The platform offers zero-fee spot trading for premium members, a unique model that encourages active trading and enhances affordability. For non-premium users, the fees remain competitive with the industry average. The fees for futures trading are also attractively low, with maker and taker fees structured to incentivize liquidity provision on the platform. This setup allows traders to manage their costs effectively, which is especially beneficial in a market where margins can be tight.

ChangeNOW simplifies the process of trading cryptocurrencies by imposing a straightforward fee structure that varies depending on the transaction and the currency pair used. Typically, ChangeNOW integrates a service fee directly into the exchange rate, which means the rates you see already include the fee, ensuring transparency and avoiding unexpected charges. The platform does not charge a separate service fee, but network fees, which are payments to miners, still apply and are necessary for the transaction to be processed on the blockchain. This fee structure makes it easy for beginners to understand the total cost of each transaction without having to navigate complex fee schedules.

Phemex

Robust Security Measures: Phemex employs comprehensive security protocols, including cold wallet storage, two-factor authentication, and advanced encryption technology to protect user assets and data.
High Trading Volume and Liquidity: With significant daily trading volumes, Phemex offers high liquidity, facilitating quick and efficient execution of trades without significant price slippage.
Transparent Withdrawal and Deposit Policies: Phemex provides clear and concise policies regarding withdrawals and deposits, ensuring users understand the terms of service and any associated fees clearly.
Strong Reputation and Positive Reviews: Since its launch, Phemex has built a strong reputation in the cryptocurrency community, supported by positive user reviews that praise its reliability, customer service, and platform stability.
Effective Customer Service: Phemex offers responsive and helpful customer support, ensuring that users' queries and issues are addressed promptly, which is crucial for maintaining trust and user satisfaction.

Changenow

Security Methods: ChangeNOW employs robust security protocols, including non-custodial transactions that ensure users retain control over their private keys, enhancing overall security.
Customer Service: Despite some feedback about needing improvements, ChangeNOW is committed to enhancing its customer support services, with initiatives aimed at providing quicker and more effective responses.
Reputation and Reviews: The platform has received positive reviews for its user-friendly interface and quick swap features, establishing a solid reputation in the cryptocurrency community.
Trading Volume and Liquidity: With support for over 200 cryptocurrencies, ChangeNOW offers high liquidity, ensuring that transactions are executed swiftly and at competitive rates.
Transparency: ChangeNOW is transparent about its fees and processes, providing users with all necessary information upfront, which helps in building trust.

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Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

Phemex Financial Pte. Ltd.

ChangeNOW International Ltd.

Regulation

Not regulated

Year founded

2019

2017

Founder

Jack Tao

Unknown

Payment methods

Transfers

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Phemex	FEATURES	Changenow
Phemex allows trading with relatively low minimums, making it accessible for beginners who wish to start small.	Minimum Trade	ChangeNOW allows users to trade small amounts of cryptocurrencies, accommodating users who prefer to trade minimal quantities.
Offers competitive fees with several fee-free options for premium members, though slightly higher for regular users.	Trading and Transaction Fees	While fees are competitive, they can vary and be higher for certain routes or less popular coins.
Supports a wide range of cryptocurrencies, providing ample trading opportunities for users.	Number of Cryptocurrencies	Supports over 200 cryptocurrencies, providing a wide selection for trading.
Extensive selection of trading pairs, allowing users to diversify their trading strategies.	Crypto-to-Crypto Trading Pairs	Offers a vast array of trading pairs, allowing direct swaps between a diverse range of cryptocurrencies.
The website provides essential information, although some users may find details on fees and terms could be clearer.	Website Transparency	Generally transparent about fees and trading processes, but could improve accessibility of detailed information on the backend processes.
Phemex does not provide an exchange card for in-store purchases. It focuses on trading features and derivatives.	Credit/Debit Card	Does not provide its own exchange card for in-store purchases or benefits.
Offers secure cold storage options, enhancing safety for user funds against potential cyber threats.	Storage Offering	Provides a secure, non-custodial service that doesn’t store user funds but could enhance security features or options.
Provides staking options with competitive rewards, though options are more limited compared to specialized staking platforms.	Staking and Rewards	Limited options for staking and rewards compared to other platforms that offer comprehensive staking services.
Both the mobile app and desktop platform are highly user-friendly and robust, suitable for trading on the go.	Mobile App and Desktop	Both mobile and desktop interfaces are user-friendly, facilitating easy and efficient trading on any device.
Generally responsive customer service with multiple channels available, but some reports of delayed responses during peak times.	Customer Service	Customer service is available but has room for improvement in terms of response times and support quality.
Offers multiple deposit and withdrawal methods, but some users have experienced delays and higher fees for certain methods.	Deposit and Withdraw	Facilitates easy and fast deposits and withdrawals but could expand the variety of accepted payment methods.

Key features

Analysis tools

Advanced charting tools, technical analysis

No significant tools, mainly a swap service

Mobile APP

Security

High 4,9/5

High 4/5

Additional features

Margin trading, futures trading, staking, Phemex Earn

Instant crypto swaps, NOW token rewards, fiat on/off ramps, ChangeNOW API

Anonymity

Yes

Key points

Available cryptocurrencies

Primarily derivatives, few direct cryptocurrencies

200+

User-friendliness

Phemex provides a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.

ChangeNOW offers a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Value for money

Offers good value for money with competitive fees and advanced trading features, suitable for both retail and institutional traders.

Offers good value for money with competitive fees and a straightforward swapping service, making it an easy option for quick trades.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

Suitable for both retail and institutional traders interested in derivatives trading with competitive fees and advanced features.

Ideal for traders looking for a straightforward and quick cryptocurrency swapping service with competitive fees.

Base currencies available

USD, BTC, USDT

BTC, ETH, USDT (varies by transaction)

Account

Trading

Phemex offers extensive trading options including spot, margin, and futures trading. It provides advanced tools suitable for experienced traders but might be overwhelming for beginners.

ChangeNOW is a non-custodial exchange known for its fast and anonymous transactions. It offers a wide range of cryptocurrencies but lacks advanced trading features and tools.

Deposit and withdrawal

Phemex supports multiple deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low fees.

ChangeNOW is a non-custodial exchange known for its fast transactions. It supports various deposit methods, and withdrawals are processed quickly with low fees.

Account opening process

Phemex offers a seamless and fully digital account opening process. Users need to submit personal information and verify their identity. The process is quick and usually completed within a day.

ChangeNOW provides a simple and quick account registration process. Users need to submit personal details and verify their identity. The process is fully digital and usually takes less than a day to complete.

KYC required?

Yes

Customer Service

Phemex offers extensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance.

ChangeNOW offers support through email and live chat. The response time is quick, but the support team is not available 24/7, which may be a drawback for some users.

Security

Phemex provides extensive security measures, including 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some users.

ChangeNOW provides strong security with 2FA and encryption. However, it lacks regulation from major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

As one of the experts reviewing cryptocurrency exchanges on our website, I find Phemex to be a highly compelling choice for traders. The platform impresses with its robust security features and a wide array of trading options, catering to both newcomers and seasoned traders. Personally, I appreciate the platform’s user-friendly interface and the fact that it offers high liquidity, which is crucial for executing trades swiftly and efficiently. I would recommend Phemex to anyone looking to dive into the world of cryptocurrency trading, especially those who value security and a diverse range of trading instruments.

Xavier Tarrasó

As a cryptocurrency analyst at our website, I’ve spent considerable time exploring and using various exchanges, and ChangeNOW stands out for its remarkable simplicity and efficiency. From my personal experience, this platform is especially well-suited for those who are new to the cryptocurrency world or those who prefer straightforward, quick crypto exchanges without the hassle of lengthy registrations. ChangeNOW’s focus on user privacy and security, without requiring personal information, provides peace of mind, making it a top recommendation for users valuing anonymity alongside ease of use. Whether you’re looking to swap small amounts or engage in more significant trades, ChangeNOW facilitates it all with commendable ease and speed.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.