Comparison of Wazirx vs Changenow [ 2024 ]

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

Your expert: Alejandro Borja

wazirx

Wazirx

  • Threenvest valuation: 3,9/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

changenow

Changenow

  • Threenvest valuation: 3,4/5
  • US legal: Yes
  • Security: High 4/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

0,20%

Earns

No

Customer service

4/5
hidden

Fees

Yes

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold

Yes
No

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with additional rewards for using the native token.
4.0 – Competitive fees with a focus on instant crypto swaps.

Level

0,20%
hidden

Brief explanation

WazirX structures its commissions to be competitive within the cryptocurrency exchange market, particularly appealing to Indian traders. The platform charges a flat fee of 0.2% per transaction, which applies to both makers and takers. This straightforward, no-tier fee structure makes it easy for users to understand exactly what they will pay per trade, without any hidden complexities. Additionally, deposit fees are free for cryptocurrencies, but there may be small charges for fiat transactions depending on the method used, and withdrawal fees vary by cryptocurrency, reflecting network fees rather than platform charges.
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.

Wazirx

wazirx
Read wazirx review
  • Year founded: WazirX was established in 2017, quickly becoming a key player in the Indian cryptocurrency space, demonstrating robust growth and longevity in a highly volatile market.
  • Security methods: WazirX employs a comprehensive set of security measures, including two-factor authentication (2FA) and regular security audits, ensuring a secure trading environment for its users.
  • Volume managed and trading volume and liquidity: Since its acquisition by Binance, WazirX has seen substantial increases in its trading volumes, benefiting from Binance’s high liquidity pools which enhance trading efficiency and price stability on the platform.
  • Reputation and Reviews: The platform is well-regarded in the Indian cryptocurrency community, known for its user-friendly interface and reliability. Its strategic partnership with Binance further boosts its credibility among users.
  • Customer service: WazirX offers a dedicated support team and has a comprehensive FAQ and support section that addresses common issues and guides new users through the trading process, contributing to a supportive user experience.
  • Pros
  • Supports numerous cryptocurrencies.
  • User-friendly interface.
  • INR deposits and withdrawals.
  • Cons
  • Occasional technical glitches.
  • Slow customer support.

Read wazirx review

Changenow

changenow
Read wazirx review
  • 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.
  • Pros
  • User-friendly, intuitive interface.
  • No registration required for exchanges.
  • Supports a wide range of cryptocurrencies.
  • Cons
  • Higher fees than some competitors.
  • No custodial services offered.

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Product selection

Native token

Token WRX
No

Earns

No
Yes

NFT marketplace

Yes
No

Cripto/debit card

Yes
No

Company information

Full name

Zanmai Labs Private Limited
ChangeNOW International Ltd.

Regulation

Not regulated
Not regulated

Year founded

2018
2017

Founder

Nischal Shetty
Unknown

Payment methods

Transfers

Yes
No

Mastercard

Yes
No

Wire transfer

Yes
No

Card

Yes
No

Comparative table

Wazirx FEATURES Changenow
WazirX allows users to begin trading with relatively small amounts, making it an accessible option for beginners and those looking to test the waters without significant initial investments.
Minimum Trade
ChangeNOW allows users to trade small amounts of cryptocurrencies, accommodating users who prefer to trade minimal quantities.
WazirX charges a flat fee of 0.2% on all trades, which is competitive; however, a lack of fee tiering can deter high-volume traders who typically benefit from reduced rates in other exchanges.
Trading and Transaction Fees
While fees are competitive, they can vary and be higher for certain routes or less popular coins.
The platform supports a broad array of cryptocurrencies, providing users with ample opportunities to diversify their portfolios with both popular and less mainstream tokens.
Number of Cryptocurrencies
Supports over 200 cryptocurrencies, providing a wide selection for trading.
Offers a substantial number of trading pairs, which is beneficial for traders looking to capitalize on market movements across various cryptocurrencies.
Crypto-to-Crypto Trading Pairs
Offers a vast array of trading pairs, allowing direct swaps between a diverse range of cryptocurrencies.
Generally, WazirX maintains a transparent approach with visible fee structures and trading terms; however, improvements could be made in the visibility of wallet safety and fund security protocols.
Website Transparency
Generally transparent about fees and trading processes, but could improve accessibility of detailed information on the backend processes.
WazirX lacks an exchange card, limiting flexibility in utilizing crypto assets for everyday transactions and benefits.
Credit/Debit Card
Does not provide its own exchange card for in-store purchases or benefits.
Provides robust storage options with an emphasis on security; includes both hot and cold wallet solutions to ensure the safety of user assets.
Storage Offering
Provides a secure, non-custodial service that doesn’t store user funds but could enhance security features or options.
While WazirX offers staking options, the variety and rewards rates are less competitive when compared with larger platforms that specialize in staking and yield farming.
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 well-designed, offering intuitive navigation and comprehensive functionality that meets the needs of most traders.
Mobile App and Desktop
Both mobile and desktop interfaces are user-friendly, facilitating easy and efficient trading on any device.
The platform’s customer service is an area needing improvement, with reported delays in response times and issues with the effectiveness of the solutions provided.
Customer Service
Customer service is available but has room for improvement in terms of response times and support quality.
Deposits and withdrawals are processed efficiently, especially for INR transactions. However, the platform could expand its support for additional fiat currencies to enhance user convenience further.
Deposit and Withdraw
Facilitates easy and fast deposits and withdrawals but could expand the variety of accepted payment methods.

Key features

Analysis tools

Basic charting tools
No significant tools, mainly a swap service

Mobile APP

Yes
No

Security

High 4,6/5
High 4/5

Additional features

Staking, WazirX token (WRX) rewards, WazirX Earn, fiat on/off ramps
Instant crypto swaps, NOW token rewards, fiat on/off ramps, ChangeNOW API

Anonymity

No
Yes

Key points

Available cryptocurrencies

100+
200+

User-friendliness

WazirX provides 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.
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

Provides good value for money with competitive fees and a wide range of supported cryptocurrencies, making it an affordable choice for Indian users.
Offers good value for money with competitive fees and a straightforward swapping service, making it an easy option for quick trades.

Countries of operation

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

Best for

Ideal for Indian investors seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.
Ideal for traders looking for a straightforward and quick cryptocurrency swapping service with competitive fees.

Base currencies available

INR, USDT
BTC, ETH, USDT (varies by transaction)

Account

Trading

WazirX is one of the largest exchanges in India, offering a wide range of cryptocurrencies and easy fiat integration. It has competitive fees and a user-friendly platform but has faced regulatory challenges.
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

WazirX is one of the largest exchanges in India, offering a wide range of deposit methods. Withdrawals are processed quickly, with competitive 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

WazirX offers a straightforward and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient and typically takes less than a day to complete.
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
No

Customer Service

WazirX offers extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, making it reliable for users in India.
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

WazirX offers comprehensive security measures, including 2FA and cold storage. It is regulated by Indian authorities, ensuring high security for investors.
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-analista-de-brokers.webp

Alejandro Borja

As one of the experts reviewing WazirX, I recommend this platform for Indian users looking for a straightforward entry into the world of cryptocurrencies. Its integration with Binance enhances liquidity and provides a robust range of trading options, which is beneficial for both novice and experienced traders. However, be mindful of occasional technical issues and prepare for potential delays in customer service response times. Overall, WazirX stands as a solid choice, especially if you value an easy-to-navigate interface and a wide selection of crypto assets.
Xavier-tarraso-mascarell.jpg

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.

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