ChangeNOW: Instant Exchange for Easy Crypto Swaps
ChangeNOW.io is a non-custodial cryptocurrency exchange platform that processes quick, smooth, and limitless digital coin swaps online.
The ChangeNOW company is registered in the Central American country of Belize with a postal address located in the Netherlands. Furthermore, ChangeNOW team members have a background in blockchain development.
This exchange has collaborated with some of the biggest names in the crypto sector, including Kraken, Poloniex, Binance, Bitfinex, Bittrex, and Binance, among others.
Problems in Crypto Exchanges
The ChangeNOW team explained that the crypto space is evolving at a breakneck pace, and related projects need to keep up with that speed. One of those projects is ChangeNOW, who believe that the whole industry will go one notch higher if some of the difficulties the scene is facing will be resolved. Here are some of those problems.
Centralization – Most cryptocurrencies, including the pioneer Bitcoin (BTC), promotes the decentralization of at least financial transactions. ChangeNOW found it ironic that a number of exchanges handling cryptos centralize the authority themselves.
Security – There is a greater risk for users when they leave to these centralized exchanges the responsibility of keeping the funds secure. For one, the customers would lose direct control of their funds, even in just a short while. In addition, a successful hack at a centralized exchange would most likely compromise every digital coin the platform holds
User Experience – ChangeNOW noticed that most crypto service providers have rather difficult–to-navigate user interface, given how young the scene is. This complicated UI, however, could turn away users from trying crypto trading out.
Solutions Through Services
ChangeNOW aims to provide some of the best—if not the best—crypto exchange services that would provide convenience to its customers, and at the same time, would solve some of the problems mentioned above.
To swap cryptos, coin holders must first determine the amount and type of digital currencies involved in the transaction. According to ChangeNOW’s website, customers can choose from 168 coins available in the exchange, including Bitcoin (BTC), Bitcoin Cash (BCH), and Ethereum (ETH), as well as the fiat US dollar (USD).
Users do not need to register an account to exchange their coins in this exchange. However, ChangeNOW once claimed that transactions deemed suspicious by a certain algorithm would trigger an investigation, which might require users to send additional information.
Afterward, ChangeNOW will show the expected exchange rate to its customers. The estimated numbers are pooled from the rates offered by trading platforms collaborating with ChangeNOW.
Then, users must input the crypto address that will receive the coin. ChangeNOW will suggest a selection of crypto wallets for those without one.
Finally, clients must send the crypto they want to swap to an address generated by the exchange. ChangeNOW would want to remind its users that it does not hold any of their user funds at any point, meaning that they have total control of their cryptos all of the time.
The overall design of the website is purposefully made simple for the benefit of new and inexperienced crypto traders.
Dominate the Crypto World
ChangeNOW stated that one of its major goals is to help promote the benefits of instant exchanges over the centralized ones by offering excellent and user-friendly services. The exchange admitted that the latter was currently ahead in the market. However, ChangeNOW believed its user-friendly and fast services—together with technological advancement in the crypto and blockchain industry—would push instant exchange to the top of the market.