The true definition of an instant exchange.
Instant exchanges are becoming the in thing with users wanting to quickly change one cryptocurrency to another very quickly without having to go through the process of setting orders on a custodial exchange.
In this era of speed, users need a service that is quick, reliable and, most importantly, cheap. Yes, no one wants an exchange with hidden fees.
With all this in mind, there are two major instant exchanges that operate upon the same concept: Instant swapping between two cryptocurrencies without high fees. These two exchanges are Changelly and ChangeNOW. Let's see why ChangeNOW is flat out better.
First off is the minimum amount required to swap. Let's take BAT as an example.
On Changelly, you need a whopping 122.5BAT to exchange from BAT to ETH, and a whopping 300BAT to go from BAT to BTC. Say you're a Publish0x writer who wants to convert his earnings for the week to ETH. You won't be able to do it with Changelly because of the high barrier to entry. And it's the same with many other cryptocurrencies.
ChangeNOW on the other hand has a limit of just 15BAT. That's right, you don't need over 100BAT tokens to use ChangeNOW. This in itself is a major reason why I switched to ChangeNOW from Changelly. Because not everyone wants to change such large amounts of cryptocurrency. I myself have been in a situation where I needed to change a small amount of a cryptocurrency to another one, and it wasn't fun not being able to do it instantly.
The barrier to entry is much, much lower with ChangeNOW, and that's one of the reasons I prefer it over Changelly.
Second is the ease of creating an account. To be honest, I have never seen an instant exchange, or any exchange for that matter that doesn't require a password to create an account. You can literally just click "create account", and you're done.
This was, by far the easiest account creation procedure I have ever encountered in my life. Setting up my wallet was harder.
Once you sign up, you are provided with a password. You can of course change this password later, but that password would be all you need to sign into your account to exchange cryptocurrencies if you're on another device.
And that is just for people that want to have affiliate links. You literally do not need an account to use ChangeNOW. You simply choose the currency you want to change from, choose the currency you want to change to, input the amount and you're good to go. No account creation required.
Not to say that Changelly has a tedious account creation procedure, but the procedure for ChangeNOW is just so simple that it's much better than Changelly's.
THINGS THAT CHANGENOW JUST DOES RIGHT
This section isn't a comparison, but it's just some of the things I feel that ChangeNOW absolutely kills it in.
- Fees: The fees are extremely low and very, very transparent. You see the fees you pay, and there are no hidden charges anywhere in the exchange procedure. It truly works like a charm.
- Fixed rate and Fluctuating rate: I love this feature very much, and it's something I use whenever I'm exchanging with ChangeNOW. You get the option for fixed rate, which means that the rate of the exchange would not be affected by tumultuous market conditions, and there's also fluctuating rate to take advantage of market swings that may get you more of the cryptocurrency you want from the exchange. Both options have their obvious advantages and drawbacks, but all in all we're given the choice. And choice is good.
- The interface: It's just so good and easy to understand. Very clean and minimalist design, and I really enjoyed the subtle animations in the Android app. The fact that you don't need to sign up for an account makes it super easy to just open up the exchange on any of your devices and instantly exchange cryptocurrency. And there's dark mode as well!
- Ease of use: The exchange is super easy to use. It's 100% foolproof, and if you've ever gone through the mental and physical torture of using something like IDEX, you'd appreciate the beauty and simplicity of ChangeNOW.
- Integration with websites: ChangeNOW has an API for those people with their own private websites. Coupled with their amazing affiliate program, a user can put an instant exchange widget anywhere he wants on his own website, and whenever someone makes an exchange, he makes a percentage of the fees the person paid. It's a win win as the user has access to the best instant exchange, while the owner of the site makes money and keeps the site running.
- An amazing support team: ChangeNOW has the fastest support team I have ever spoken to. In my testing, I didn't even need any help with anything, but the support personnel didn't get angry at my stupidly obvious questions, and were very patient with me. They also answer extremely quickly via email, and the livechat option is amazing as well. This is contrary to Changelly that only gives support via email, and may take a few moments to respond.
- NOW TOKENS: An initiative made by the company behind ChangeNOW, and can be used for payments within all NOW products. These tokens would be very valuable as ChangeNOW picks up steam in the instant exchange world, and the tokens have already been listed on IDEX, the world's largest decentralised exchange. It's a beautiful thing ChangeNOW is building.
WHY CHOOSE CHANGENOW OVER CHANGELLY?
- Faster support response time with live chat features: Especially important when you need urgent help.
- Lower barrier to entry
- Anonymity is enhanced because of the lack of personal details required to use the service.
- It's a true instant exchange. No sign-up required.
I really like the ChangeNOW instant exchange. It's fast, reliable and cheap to use. It's also extreme easy to use, and the support has been wonderful. I really love the design and the idea behind NOW tokens, which would be much more valuable than they currently are.
If you enjoyed the post, consider supporting my blog by using my partner's link here to perform your swaps. I know you'd love the exchange as much as I did.
Thanks for reading.