NonCustodial, Transparent and Secure: #ChangeNOWExplained

NonCustodial, Transparent and Secure: #ChangeNOWExplained

By insidetrader | HODL the Universe | 14 Jul 2020


The fundamentals of today's cryptocurrency world have gained recognition by adapting "blockchain" technology into our lives, as well as by making them seen as currencies that can be bought and sold. Even when buying cryptocurrencies, we give up our USD or fiat money and buy them. As a result of this situation, cryptocurrency exchanges have taken an important place in our lives especially in the last 10 years. However, these exchanges, which cannot be "decentralized" as opposed to the technology behind them, are now directing us to find alternative solutions because of the various problems they cause. The existence of a system that would not be needed for the stock market has become inevitable because of both "overloading" the system, the "stock market hacking news" which are not interrupted and the tertiary extensions offered to the users sometimes lead to "irreversible losses". "ChangeNow" has rolled up its sleeves to fill the gap at this point. Let's go over the details together.

 

What Is ChangeNOW?

ChangeNOW, registered in the country of Seychelles, has been operating for 2 years. It is a cryptocurrency exchange where losses that can occur due to volatility or low-liquidity pairs are minimized and it's possible to use it without any registration process and having to complete KYC. Through ChangeNOW, which is in operation with the purpose of operating without being connected to any person or organization, we have the chance to easily handle all transactions that we can perform in cryptocurrency exchanges such as Binance, such as OKEx, which we can characterize them as classic ones. It is possible to trade more than 200 cryptocurrencies, swap 4 different cryptocurrencies, and also to purchase cryptocurrencies through MasterCard and Visa.

 

Why Was ChangeNOW Founded?

The 3 most basic titles in the current crypto ecosystem; "security", "being transparent" and "decentralization" were created as a result of the fact that the concepts could not be developed by the traditional cryptocurrency exchanges in favor of their users and began to become chronic problem all over the world.

ChangeNOW is not backed by any person or institution, also the lack of feature to be kept in the same wallet of all funds makes it decentralized. Against possible hacking and other attacks effect on funds due to a lack of confidence makes it secure. That could be seen by any person in terms of the entire process aims to achieve the characteristics of being transparent. In this way, it aims to reach more users and contributes to the development of cryptocurrencies all over the world.

 

How To Use ChangeNOW

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The pictures you see above are the "registration" pages that we are normally used to seeing, which we must complete before starting to trade in any stock market. Even though it has become commonplace, it still means an important overtime for some of us. However, we don't see this kind of registration steps on ChangeNOW. In fact, here is one of the most important features of the stock market: you don't need to complete these stuffs, which are seen as unnecessary waste of time! We don't have to do any of this shift anymore, and ChangeNOW offers us this opportunity.

Step 1: After clicking on ChangeNOW, all you have to do on the next page is to choose which pair of cryptocurrencies you want to trade with. (For example, I choose USDT / ETH. That means I'll send the USDT and get the ETH.)

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At the top of the page, there are 2 different options: "Classic Rate" and "Fixed Rate". The classical rate is the part where you can see the cryptocurrencies that are sent and intended to be received according to the rate at which the transaction will take place. There may be a small decrease or increase in the amount you will receive if you do such operation.

ChangeNOW offers you the opportunity to trade at a fixed rate if you are going to trade in higher amounts. So unlike the one in the picture, the odds are fixed for a transaction of 500$ or more. In other words, it creates an advantage for you at the time the price rises, otherwise it creates an advantage for the market. With the fixed rate, the amount you will get will come as what it says.

Step 2: It's necessary to write our own wallet address in the space on this page. The cryptocurrency we want to buy will come to the wallet address we're going to write to.

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After typing the desired wallet address, a "verification" screen with all the information is displayed. From here, we make final checks and make sure the information is correct, and then we move on.

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Step 3: The screen will now contain the wallet address and QR code you need to send. We send the amount to the specified address and are waiting for our transaction to be completed. On average, within 10 minutes, the exchange process is performed and your crypto is sent to your wallet.

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Here, it's that simple.

 

What Are The Advantages Of Using ChangeNOW?

  • Allows you to quickly swap between cryptocurrencies without logging in.
  • Does not ask you to complete any authentication or KYC procedures unless a suspicious situation arises.
  • It allows you to trade even with the lowest limit of 2$, which is mostly 0.001 BTC in the exchanges we are used to. So it helps you to grow your little crypto.
  • As with P2P or OTC platforms, it does not cause you to have trust problems with the person/institution in front of you.
  • It aims to reach everyone, not a certain audience, by opening cryptocurrencies that are not listed even on some exchanges.
  • Referral and partner programs, a variety of products, large and always active community are the main mechanics to become a player in today's crypto world.

 

What Are The Features That Need To Be Developed In ChangeNOW?

  • When using the classic rate, the pairs of 5$ and lower cryptos can be corrected in favor of the user.
  • When using the fixed rate, the minimum swap amount is approximately 10 times higher than when using the classic rate. Also this rate can be arranged in favor of the user.
  • When swapping units of the same token on different chains, the user can directly go to swap screen. So the website must show a warning about it.

 

Is there any token specific to ChangeNOW?

Yes, the ChangeNOW exchange formed the NOW token with a total supply of 100,000,000 in the ERC20 chain on May 21, 2018. Nearly a year later, on 19 April 2019, they moved half of the total supply onto the BEP2 chain. It is currently possible to buy and sell NOW via both IDEX and BinanceDEX. You can also read WhitePaper to access details about the NOW token.

While using now token; users

  • Can vote for the next cryptocurrency to be listed on the ChangeNOW exchange,
  • Accept now tokens for payments in your business through NowPayments,
  • You can have a "LightningNode"on the Lightning Network.

 

Is it possible to generate revenue through ChangeNOW?

It is also very easy to generate revenue through the staking or lending features of the well-known cryptocurrency exchanges. As far as cryptocurrency is concerned, there is currently no active stake system for ChangeNOW or NOW Token. But the referral program is available for ChangeNOW and through this page anyone who wants to  create their own reference link can create an API code and generate as much as 0.4% of the transactions from the invited users. In the regular exchanges, if he/she trades at $1000, the commssion be around 1$ and your income will vary approximately between $0.2– $0.25. However, when a referral makes a $1000 transaction thorough ChangeNOW, it is recorded as a 4$ income directly to your account. As can be seen here, there is a 20-fold difference in referral income.

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If you moderate more than 100 or 1000 users, you can have a privileged place in the ChangeNOW world through the Affiliate Program.

Another way to gain is to set up your own stock market. Yeah, you didn't hear wrong! In ChangeNOW, you can create your own stock market in 3 steps and profit from the transactions. The necessary steps are detailed on the relevant page.

 

ChangeNOW Is Everywhere!

As well as on its iOS and Android-powered apps, you can use all the exchange features via Telegram. Also, if you are an iOS user, you can participate in the currently ongoing giveaway on the official Twitter page.

 

It's All For The Community!

We've all heard of people in the cryptocurrency world who invest in hearsay information and then get frustrated. A blog has been prepared to prevent these and similar events, to educate the community on cryptocurrencies at a basic level and raise awareness. Keep up with the latest news and interesting articles and to get a chance to win$ 500 worth of ETH with a 5-Week event. Don't forget to look at the details of the latest article!

 

Note for ChangeNOW Team…

As a native Turkish-speaker, I must say that the Turkish translation of the website is quite bad and also have lots of spaces without any translated words. As you know the percentage that people know cryptocurrency in Turkey is one of the highest scores. So, please let us to trade via our language or remove the incomplete translation...

 


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This article contains direct translation of that Medium article which I'm the real owner of it.



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