What is ChangeNow?
ChangeNow is a crypto exchange where you can instantly change one currency into another. With this service it is possible to swap almost any coin into another with a click of the button. In this review, nearly all aspects of ChangeNow will be covered so make sure to read it.
How to use ChangeNow?
Swapping coins in ChangeNow probably is one of the easiest things to do in crypto. Let's say I want to swap 1 NEO to ETH. I go to ChangeNow.io and select the correct coins and amounts. The site instantly shows an estimated price.
FeesYou can also select the fee rate. As you can see we have a classic rate and a fixed one. I wasn't able to find a formula for either one but it seems like the classic rate is the best option in most cases. Percentage wise I don't think the fees are too high. Swapping 2.5 USD worth of BTC to USDT would give you 1.925 USDT. That's 57.5 cents for swapping and the ETH network costs. However when exchanging 25 USD worth of BTC you pay 1.27 USD in fees. When swapping 245.40 USD worth of BTC you pay just 2.2 USD in fees. So percentage wise your fee decreases when you swap more crypto.
As far as I've seen, the fixed rate is only lower when you are exchanging serious amounts of crypto and even then it is not always the cheaper option. You can play around with it to see which option works best. Once you press exchange you enter the page below where you enter YOUR address. So in this case an ETH address.
When you press next you go the the next screen where you just confirm the transaction.
And after you confirm you enter the final screen where you get a deposit address for the NEO and a progress bar showing where you are in the process.
And you are done. You have successfully changed your NEO into ETH.
ChangeNow supports nearly all popular coins and they are adding more coins as they expand. I've yet to find a coin which I frequently trade which was not listed on ChangeNow. Moreover, the minimum for swapping is around 2 USD with no upper limit. So you can swap anything you want, as low or as high as you want.
The observant reader might also have seen how I did not mention an account or passing KYC. That is because an account is optional and you don't need a KYC. You can just enter the site and swap your crypto. It is even possible to buy crypto without passing a KYC. However, the fees are around 15% and it is via a third site party so I passed on trying it. Regarding an account, it is easier to get contact with customer support if you do have one. It also logs your transaction in case you need it.
The exchange also has it's own token. Holding the token has certain benefits such as lower trading fees, priority when contacting support, better conditions when being an affiliate partner and much much more.
Other products of ChangeNow
One of the many other features of ChangeNow is NOWPayments. With this program, online vendors can easily accept cryptocurrencies as a payment method. For a mere .5% of the transaction volume, vendors can join the program and even pick the coin which they accept. Moreover, the coins are instantly transferred to your personal wallet. So as a vendor you are not dependant one someone else when you want to access your funds. Integrating NOWPayments should be very easy with a simple API. However, if you are stuck the technical support is more than happy to help you.
Another service of ChangeNow is NowNodes, a simple service where you can host your nodes via them. However, information is not easily available on the site so this needs some work. A very positive thing to note is that running/hiring a personal node is free.
Besides the the aforementioned products, they also run a lightning node and have a cryptocurrency academy with various articles which explain everything about crypto. They will also come with a ChangeNow Premium very soon. However this requires a KYC which is a turnoff in my opinion.
To summarise, ChangeNow is more than just an exchange, it is a platform. You can hire your own nodes or accept cryptopayments with them. Besides that, they are also working on new features such as the ChangeNow Premium. ChangeNow seems very promising and I for one cannot wait to see with what they will come. If you want to try it for yourself, please consider using my referral link. Even though you do not need an account, you help me out by using my link. Referral link: https://changenow.io?link_id=5ca20d51ffce23