FAQ: Fiat Ramp Service, Registration, Accounts, Supported Currencies, and More

The following is a comprehensive repository of information regarding Changex’s proprietary fiat on- and off-ramp, which answers questions related to the service, user accounts, the KYC procedure, availability, and more.


What is Changex’s fiat on- and off-ramp service?

Changex’s proprietary fiat on- and off-ramp service is a feature available in the Changex app that allows users to seamlessly buy and sell cryptocurrencies with fiat currency, all within the secure environment of their non-custodial wallet.

Can I both buy and sell cryptocurrencies using the fiat ramp?

Yes, you can both buy and sell cryptocurrencies to EUR without leaving the app or switching to another service.

What cryptocurrencies can I buy with fiat using the Changex ramp?

Initially, you can purchase BTC, CHANGE, HYDRA, ETH, USDT, and USDC using the fiat ramp. As we strive to expand our offerings, more currencies will be gradually added in the future.

What cryptocurrencies can I sell to EUR?

For the time being, you can sell USDT (ERC20), USDC (ERC20), and ETH to EUR.

How can I sell my cryptocurrencies for fiat using Changex?

All you need to do is to link your existing bank account directly to the Changex app and easily sell your cryptocurrencies for fiat. The proceeds from the sell transaction will be deposited directly into the bank account of your choice. Scroll down to find a detailed explanation of the process.

What payment methods are supported for fiat transactions?

Currently, the fiat ramp supports bank transfers only. We are actively working to introduce bank card purchases in the near future.

What currency transactions does the fiat ramp support?

Currently, the fiat ramp supports transactions in EUR. We are also working on introducing USD support to enhance accessibility and convenience for all users.

What are the commissions associated with using the fiat ramp?

The commissions Changex charges may vary between 1% and 5% depending on the cryptocurrency pair and market conditions (such as depth and volatility). It is usually around 2-2.5%, and 30% of the net profit of Changex goes for a buy-and-burn mechanism of the CHANGE token. We are also in the process of implementing a tier-based system with preferential fees for CHANGE stakers in the future.

Is the fiat on- and off-ramp available globally? Are there any limitations?

The fiat on- and off-ramp service offered by Changex is exclusively accessible to users within the Single Euro Payments Area (SEPA) and is currently limited to transactions conducted in Euros (EUR) only. Residents of the United States of America (USA) and individuals residing in countries subject to sanctions imposed by the U.S. Office of Foreign Assets Control (OFAC) may not use our fiat-crypto and crypto-fiat services.


Are there any sign-up fees for the fiat ramp?

Signing up for the Changex fiat ramp is completely free of charge.

How do I sign up?

To sign up for the fiat ramp and start using Changex’s proprietary fiat on- and off-ramp service, you need to follow these steps:

  1. Download the Changex App: First, you need to download the Changex app from the respective app store for your mobile device (iOS or Android).
  2. Create or Import a Wallet: Once you have the app installed, you’ll need to create a new wallet within the Changex app if you don’t already have one. Alternatively, if you have an existing compatible wallet, you can import it into the app.
  3. Create an account: Changex supports both personal and business accounts.
  4. Complete KYC for the Ramp: In order to use the fiat ramp and access the full functionality of buying and selling cryptocurrencies with fiat, you’ll need to complete the Know Your Customer (KYC) verification process. This step is essential for compliance with regulations and ensures a secure and trustworthy experience for all users. To do this you can either initiate a buy or sell transaction in the app under the “Trade” tab, which will automatically take you through the process, or you can go to Settings Manage Fiat Account and follow the steps there.
  5. Make a buy or sell order: After completing the KYC process, you can then proceed to placing your first buy or sell order in the Changex app.

Please note: It is necessary to register and verify your account yourself, and we advise you to apply good practices when creating a password. A robust password should have 6+ characters (preferably more), using random combinations of numbers, lowercase and uppercase letters, and special symbols.

I’m not receiving the 6-digit code required for email verification. What should I do?

If you don’t see the email with the 6-digit code, please first check your Spam folder and, if using Gmail, also check the “Promotions” and “Social” tabs. If the email still doesn’t show up after retrying to send it again, please get in touch with our support team at [email protected].

Can I have more than one account for the ramp?

You cannot have more than one individual profile on our platform. When you create a new account and retry verification, the new profile will be rejected and deactivated.

Where can I find my order history?

You can see your order history in the mobile app, in the “Trade” tab, where you would normally go to buy and sell using the ramp. The history includes information such as order number, status, crypto amount, rate, order type, EUR amount, and date of the transction.

Can I get a document for my orders?

If you need a contract or invoice for a transaction, contact us at [email protected] to hammer out the details.

How do I delete my account?

Send us an email with your request to [email protected]. No special form is required, you just need to be clearly identified, i.e. to contact us only from the registered email address associated with your account in our system.

Please note that your information can only be deleted if you have not made any transactions through our platform. Otherwise, we are required by law to store your data for a period of 5 years after closing your account.

Can I edit my own data?

Once you log in, you can review your data. To change your email address or update some of your personal information, please contact our customer support team at [email protected].


How do I get verified?

We offer two types of accounts and verification: individual and corporate. Please scroll down to see the prerequisites for corporate identification.

For individual verification

The verification of individual users takes place through an automated solution, which you can access through the Changex app, either through the “Trade” tab by initiating an order, or through the “Settings” tab where you then click on “Manage fiat account”. The verification process only takes a few minutes and consists of three steps – pictures of a valid official ID, a video selfie, and a short questionnaire. 

Once you complete all the steps, you will receive a notification within a few minutes that your account has been verified or that you need to go through one of the steps again (for example, your ID is not clearly visible and you need to retake the picture).

Why is it mandatory to get verified?

As a regulated entity, we have a responsibility to prevent financial crimes like money laundering and terrorist financing. These obligations are in accordance with global Anti-Money Laundering (AML) regulations and Know Your Customer (KYC) requirements. As part of these obligations, we must verify the identity of all our clients.

What’s the advantage of getting verified?

After successfully passing our KYC procedure, you will be able to take advantage of:

  • Buying and selling cryptocurrencies via bank transfer in a DeFi wallet;
  • Some of best rates for buying and selling cryptocurrencies;
  • Mobile application with which you can trade cryptocurrencies wherever you are;
  • Robust security rooted in blockchain technology;

I can’t complete the verification procedure. What could be the reason?

There can be several reasons for a failed verification:

Related to your ID:

  • Not all edges of your ID card/passport are fully visible;
  • The document has already expired and is not valid;
  • You attach selfies with the ID, instead of just a photo of your ID card/passport;
  • Your pictures are of poor quality;
  • You see that a trash can icon appears on your photos;
  • You think there is a problem with the document, and you do not continue;
  • The delete option is available so that you can remove files uploaded by mistake. If you’ve uploaded a correct image if yourt ID, you do not need to take any additional actions, and you can safely continue.

Related to your video selfie:

  • Your eyes are not looking directly at the camera;
  • You do not follow the instructions that the procedure requires and provides as guidelines.

When do I have to fill in a source of funds declaration and what do I need for it?

You have to complete a Source of Funds declaration whenever your total trading volume on our platform surpasses EUR 15,000 within a rolling 120-day period. 

If an order you place is set to push your turnover beyond this limit, our system will alert us. Consequently, we will provide you with the necessary declaration form along with instructions on how to complete it.

Please note, the Source of Funds declaration must be supported by appropriate documentation that verifies the declared source of your funds. These documents can range from bank statements to salary slips, or documents proving asset sales, depending on your individual situation.

How do I verify my corporate account?

To verify your corporate account, you would need to provide certain fundamental documents. These include:

  1. Certificate of Incorporation: This document confirms that your company is legally recognized.
  2. Articles of Association: These outline your company’s purpose, managerial and administrative structure, as well as the responsibilities of its directors.
  3. Register of Directors and Shareholders: This document lists and contains details of your company’s directors and shareholders.
  4. Extract from the Trade Register: This provides information about your company’s current status from the public register.
  5. Personal Identification Documents: For the company’s directors and shareholders, we need valid identification, such as copies of passports or national ID cards.

In addition to these, on a case-by-case basis, we may require additional documentation depending on the jurisdiction in which your company is incorporated, the nature of your business, and its structure. This is to ensure compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations, and to fully understand the nature of your business.

Cryptocurrency trading

How can I buy crypto?

1. Log in to your account or create an account if you don’t have one already. Go to the “Trade” tab in your Changex app from the bottom of the home screen.

2. Click “Buy crypto”

3. Click “Bank Transfer”

4. Select the cryptocurrency you want to buy from the drop-down menu.

5. Enter the desired amount in EUR and click on “Preview order”. The displayed amount includes the additional transaction fees.

6. If you have an account, you will see the details of the order and can then proceed to finalize it. If you have not set up your account yet, you will be prompted to create a new one.

7. Here you can review a summary of your order, including the selected cryptocurrency, payment method, payment amount, and wallet in which you will receive the purchased quantity.

8. Tap the “Next” button to review your order before registering it. Here you will once again see summary information about the selected cryptocurrency, payment method, payment amount, and wallet in which you will receive the purchased quantity.

If everything looks good to you, click the “Place an order” button to finalize.

Finally, on a new screen and via email, you will receive full payment instructions.

The processing time of your order may take anywhere between a few hours and a few days depending on when the bank transfer has been made. For example, settlements of transfers by the banking system are only done during business hours on bank workdays. As soon as we receive the payment, our system will process the order at the current rate, and the status will change to “Processing”. Finally, our system will send the purchased cryptocurrency and will complete your order automatically.

How do I sell crypto?

1. Log in to your account or create an account if you don’t have one already. 

2. Go to the “Trade” tab in the Changex app.

3. Click the “Sell Crypto” button.

4. Click on “Bank transfer”.

5. Pick the currency you want to sell: currently you can sell ETH, USDT (ERC20), and USDC (ERC20) to EUR. 

6. Click “Continue”.

7. Enter the bank account number where you want the proceeds from the sell order to arrive in the corresponding field.

8. On the next screen, you will see a summary of the transaction: the cryptocurrency amount, the estimated amount to receive in your bank account, the receiving IBAN, among other details. 

9. If all looks good, you can proceed and confirm the blockchain transaction from your non-custodial wallet.

As soon as we receive the payment, our system will process the order at the current rate, and the status will change to “Processing”. In a few minutes, our system will send the purchased cryptocurrency and will complete your order automatically.

Can I cancel a cryptocurrency purchase?

Once a transaction is initiated, and if the bank transfer has not been made yet, it will not be finalized until payment has been made. If you change your mind and do not initiate payment, the transaction will be automatically canceled after 7 days.

What happens if there’s an issue during the transaction? 

In case of any issues, contact our support team at [email protected] and we will assist you promptly.

What rates can I expect when I use the fiat ramp?

The rate at which the orders are executed is always the rate at the time payment is received, not when the order has been made. 

  • For sell orders, as soon as a transaction reaches the blockchain mempool (that’s the queue for still unconfirmed transactions on the blockchain), the status of the order will be changed to “Paid”, locking in the exchange rate at that time. 
  • For buy orders, the rate will be calculated at the time when the bank transfer arrives to Changex. Keep in mind that bank transfers are not received immediately and in some cases the rate might change between the time you make the order and when we receive the payment. If the rate has gone down, you will receive more crypto than the initial amount. If the rate has gone up, you will receive less crypto than what was initially indicated.

What is the minimum amount I can buy/sell using the fiat ramp?

You can generate an order for a minimum amount, which is set in our system in the respective cryptocurrency, as follows:

Bitcoin – 0.003 BTC


Ethereum – 0.05 ETH

HydraChain – 100 HYDRA

USDT (ERC20) – 100 USDT

USDC (ERC20) – 100 USDC

Is there a maximum value for a single order?

The maximum value of an order is limited to EUR 15,000, as above this threshold, you need to fill in a source of funds declaration. After you fill it in and submit a supporting document, you can make larger orders that correspond to the trading volume stated by you in the declaration.

Where can I receive the proceeds from a crypto sale?

You can receive the proceeds from your sell transaction via bank transfer to a bank account that supports SEPA transfers, and that is under your own name.

After I sell crypto, how long does it take for my funds to arrive to my bank account?

After the blockchain transaction is confirmed, we will send the EUR amount to your bank account. The speed with which you will receive the money depends on the banking system, but usually the funds are either available on the same or next business day. Please note that there might be delays for various reasons, e.g. bank holidays, compliance issues or others and Changex is not responsible for any delays in bank transfers. If you need the funds urgently, please plan ahead.

Will I receive a confirmation of receipt of payment?

Every time the status of your order changes, you receive a notification by email or on your mobile device, if push notifications are enabled.

When you sell cryptocurrencies, you receive an email that your order has been paid out. The timing of the receipt of your funds depends on the chosen payment method, you can receive them immediately or expect a bank transfer.

When you buy cryptocurrencies, you receive an email that your order has been paid – this means that our system has detected your payment and will transfer the purchased amount of cryptocurrency shortly.

We will continue to update the FAQ with additional information if so required.

Thank you for reading,

Team Changex

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1 comment
  1. I used the fiat ramp to purchase some BTC. It was really easy to use and worked perfectly. I’ll probably use it as my go-to ramp from now on.

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