CryptoNow is an instant cryptocurrency exchange that allows you to swap crypto-to-crypto and fiat-to-crypto on a single platform.
In this article, we explore the ChangeNOW platform, how it works, and features.
Origin of ChangeNow
The exchange was launched in 2017, with offices in Amsterdam, Netherlands. The company behind the exchange is registered as ChangeNOW International Ltd in Seychelles.
ChangeNOW platform overview
ChangeNOW lets you swap cryptocurrencies seamlessly without going through the complex process of using an exchange.
The platform is available on the web via the website, on iOS and Android mobile devices, and a Telegram bot. Further, the exchange is available as an integration in third-party applications.
Getting started with ChangeNOW does not require any accounts or sign-ups. This allows you to exchange cryptocurrencies anonymously. However, if a user is trading very large amounts, they may be asked to verify their identity.
During this review, we looked at the web application and iOS mobile app. The web app is very easy to use with a straightforward interface that is beginner-friendly. You get direct access to the swap function on the homepage. Users can easily select from different cryptocurrencies they want to swap and initiate the transaction.
On the other hand, the mobile app comes in handy for users who prefer to trade on their smaller devices. It is also as simple as the web app.
Another important feature of the ChangeNOW exchange is that it is non-custodial. Cryptocurrency apps like wallets and exchanges that are non-custodial do not store your funds. Instead, you only make a deposit to a wallet address when making a swap.
The platform combines data and volume from several exchanges to give users the best exchange rates. According to ChangeNOW, it combines rates from top exchanges like Binance, Bitterex, OKEx, and Poloniex.
Further, ChangeNOW is built into other applications. These integrations allow users to enjoy the utility of other applications while using their favorite service on ChangeNow. For instance, a popular cryptocurrency wallet, Guarda wallet, supports ChangeNOW swaps.
Supported payment methods
At the time of writing, you can swap over 200 cryptocurrencies on the ChangeNOW exchange. This includes popular cryptocurrencies like bitcoin, ethereum, ripple, binance coin, and tether USD. Also, newer altcoins like FTT token can be swapped too.
Fiat currencies can be used to purchase cryptocurrencies on ChangeNOW. You can use a Mastercard or VISA card to make a purchase via Simplex. A 7% fee is charged for fiat-to-crypto transactions.
ChangeNOW fees and limitations
ChangeNOW does not charge any direct fees. The exchange fees are built directly into the amount paid during a swap. There are no withdrawal fees on the exchange since the platform sends funds directly to your wallet.
There is no trading limit. You can trade as many times as you want. ChangeNOW is available globally. However, users using the platform must not be from the USA, Bolivia, Bangladesh, Crimea, Iran, Syria, Sudan, North Korea, and Cuba.
What is NOWToken?
The ChangeNow platform built a utility token called NOWToken that gives users special features. Currently, NOWToken is used as a means of payment for ChangeNOW’s asset listing Campaign and the platform’s own stakeable token.
According to the instant exchange, staking NOWToken comes with a 25% ROI per year. The staking mechanism is such that the longer you hold your tokens, the higher the rate of rewards from staking.
The NOWToken was the first token to be issued on the Binance Chain, bringing a lot of press and popularity. You can trade the NOWToken on several exchanges, including ChangeNOW.
ChangeNow offers great customer support, providing assistance via different channels. You can get help via email or the Telegram community chat.
If you are looking for a reliable platform to make instant crypto-to-crypto swaps, ChangeNOW is a great tool to use. Transactions are anonymous and inexpensive for smaller volumes. If you intend to trade very large volumes, you may want to review the cost.