As cryptocurrency continues to get integrated into the fabric of global finance, crypto exchanges, where users can buy and swap assets, become more significant.
While the digital asset industry is still relatively young, there are a multitude of exchanges out there, each with particular qualities that can make choosing the right one a daunting task to newcomers and experienced users alike. In this article, we are going to take a look at one of the biggest crypto exchanges out there, ChangeNOW, focusing on its features, accessibility and pros and cons.
What you'll learn 👉
About ChangeNOW
ChangeNOW was launched in 2017 with the objective of serving as an easy-to-use exchange for cryptocurrency users of all experience levels. The platform is a non-custodial exchange, meaning that it does not control user assets, protects user data, and provides easy ways to buy, sell and swap crypto.
Since its launch, ChangeNOW has grown into one of the biggest crypto exchanges on the market with a massive user base. This rise can be attributed to the platform’s ease of use, speed, low fees and wide selection of supported digital assets. ChangeNOW only employs KYC measures in cases where there is a clear risk of illegal activity, making it an attractive option for those looking to make crypto transactions without having to run through all the hoops that they have to on other exchanges.
Features
Since its inception, ChangeNOW has grown into a comprehensive digital asset hub, offering users a number of benefits, including:
No transaction limits
There are virtually no limits for users in terms of the amount of assets they can exchange. Minimum exchanges are just around $2 and there are no ceilings, meaning that a user can exchange as much as they want without any hassles. There are also support structures in place that ensure that even if a user makes a transaction without selecting the right network or right coin, their transaction will still go through. The ChangeNOW support team has a 99% success rate of processing user errors.
Competitive fees
Fees vary on ChangeNOW, depending on the asset being used and the volume of a given transaction. The platform’s fees are generally competitive with other leading cryptocurrency exchanges, with all costs disclosed upfront and no hidden charges, offering users the potential for better payouts.
Additionally, the platform has its own, native NOW token, that, when used, unlocks special, low fees.
Fast crypto transactions
As a major crypto exchange, ChangeNOW’s bread and butter is providing users with the opportunity to exchange, buy and sell a wide variety of digital assets. Currently, ChangeNOW supports over 1,000,000 cryptocurrency pairs, a list that includes all the major digital assets along with a plethora of key and lesser-known altcoins.
The transaction process is simple and user-friendly. All a user has to do is select the currencies that they want to swap and then make a deposit (if they haven’t already) by just confirming their details and sending the funds to the address provided by the exchange. With that done, they will receive their assets in a short amount of time. The user-oriented interface includes asset trackers that clearly show users the value of their assets as they change in real-time.
One of ChangeNOW’s major upsides is that it is one of the fastest exchanges on the market. The average transaction time on the platform is 5 minutes, which is highly competitive for a non-custodial exchange of its size. Users of the platform are given all the transaction details, allowing them to track their moves in real-time. Additionally, users can make permanent exchanges on ChangeNOW, giving them the opportunity to further automate their financial operations.
Fiat purchases
ChangeNOW has always been user-oriented, with an emphasis on making the exchange process as simple as possible. One of the keys to its success in this sphere has been opening up a variety of fiat-to-crypto on-ramps. ChangeNOW users can get digital assets using a number of different fiat-based bank cards and services, including Visa and Mastercard, as well as Apple and Google Pay.
Non-custodial access
This platform provides its users with a non-custodial service, which means that it does not control user assets. Instead, users are able to maintain complete control over their funds, only having to send them to an indicated address in order to make their transactions.
As a non-custodial exchange, ChangeNOW has no KYC requirements for using its services. However, the platform does have robust security measures in place to ensure user safety. These security measures include KYC requirements if a transaction constitutes a clear risk of illegal activity.
Standalone app
While ChangeNOW is available on desktop via changenow.io, it also offers users a standalone app that is available in the AppStore, on Google Play and for all Android devices. This means that users can enjoy everything the exchange has to offer from the comfort of their mobile devices, ensuring that they have the ability to exchange, buy and sell anywhere and anytime.
ChangeNOW Pro
This platform offers users the chance to create free accounts and gain access to a number of rewards for their activities. The benefits include cashback on every transaction, discounted fees on off-chain swaps, free AML address checks and the chance to unlock more benefits by upgrading user level. Additionally, with ChangeNOW Pro, users can store their assets directly on the exchange platform and withdraw them whenever they want, without having to top up their balance, which allows them to capitalize on market movements.
Supported assets and countries
ChangeNOW currently supports over 1,000,000 exchange pairs, including all of the major cryptocurrencies and a wide variety of ERC-based tokens, as well as altcoins and key DeFi assets. Additionally, the platform supports 60+ fiat currencies, with easy on-ramps for users looking to acquire crypto for fiat.
ChangeNOW is available worldwide, provided that users are not from a small list of high-risk countries, which are listed in the platform’s Terms of Service.
Pros
- ChangeNOW is completely non-custodial and can be used instantaneously without any sign-ups.
- The platform is simple and easy to use, even for newcomers to the crypto space.
- Exchanges are very fast, with most happening in 2 minutes. The platform’s average transaction speed is 5 minutes.
- ChangeNOW has a comprehensive list of over 1,000 supported cryptocurrencies and 60+ fiat currencies, making it a convenient tool for users all around the world.
Cons
- While transaction fees are low on the exchange, they vary based on assets and can be more expensive for larger transactions.
- There are relatively high fees on purchases of crypto for fiat.
Conclusion
Looking at all the platform’s offerings and how easy it is to use, ChangeNOW offers users, especially newcomers, a great opportunity to enjoy the best that crypto has to offer without having to deal with many of the complexities they will find on other similar services. With a comprehensive list of supported assets, fast transactions, low fees and strong security, ChangeNOW constitutes an all-in-one hub to take advantage of all the opportunities in the crypto space.
