changeNow.io is widely known for its instant, account-free, no-limit exchange service, however, there are other useful services that changeNOW provides for its clients. Examples include the NOW Nodes, NOWPayments, Token Swap, etc. In this report, we are going to look at changeNOW's token swap service and use Atomic Wallet Coin (AWC) for demonstration.
About changeNOW Token Swap
changeNOW render this service to blockchain projects seeking to migrate their token on to their mainnet.
Most projects in the initial stages issue their token on blockchains they don't own like Ethereum and later when their mainnet is ready, they migrate the tokens. In such cases, holders of the underlying token would be required to swap their token for the new coin issued on the mainnet.
This is where changeNOW comes in to make the process of swapping seamless and hustle-free. Coins/tokens like Binance Coin (BNB), Atomic Wallet Coin (AWC), NOW, Credits (CS), and many more were first issued on Ethereum blockchain. Several months or years down the line these assets had to migrate to a different blockchain for specific reasons.
Why You Should Choose changeNOW
- ChangeNOW has been in the system for close to two years and has successfully helped Binance, Atomic Wallet and NOW users swap their tokens.
- Flexible migration terms. You get to decide how you want the swap process and changeNOW will make sure they comply.
- Reliable service with 99.99% uptime and 24/7 support service
- Formed alliance with reputable projects in the space like Ledger, Binance, OKEx, Simplex, Atomic Wallet, CoinSwitch, and many more.
- Co-promotion about the migration via changeNOW's social medial channels (Twitter, Facebook, Medium, Publish0x, etc)
How to Swap
As promised we are going to use AWC for this tutorial. However, the same procedure can be observed in order to successfully swap any other token/coin on changeNOW
Fifty percent - 50,000,000 of AWC total supply was burnt on Ethereum blockchain and re-issued on Binance Chain. Thus, we have ERC20 and BEP2 tokens. In this guide, we are going to learn how to swap your ERC20-AWC tokens to BEP2-AWC tokens without hassle!
See also: Atomic Wallet Coin ($AWC) Token
Reason Why Someone Might Want to Swap AWC
Secondly, the BEP2-AWC is also needed for the Atomic Wallet Membership program where users receive up to 1% cashback in AWC tokens for using the exchange service in Atomic Wallet.
Go to https://changenow.io/swap/atomic and complete the form. Specify the amount of ERC20-AWC you would want to swap at a 1:1 ratio. This means if you send 5 ERC20-AWC you get the same amount in BEP2. Click on the "Exchange" button when you are done.
Open Atomic Wallet and find your BEP2-AWC token address which should begin with "bnb".
Copy and paste your BEP2-AWC address from Atomic Wallet into the "Recipient Wallet" field and click on the "Exchange" button if you are sure everything is OK.
The "confirmation" page provides you with a summary of your transaction and the estimated arrival time. Proceed by click on the green "confirm" button.
Now go back to Atomic Wallet and send the exact amount of ERC20-AWC to the address provided by changeNOW. In our case, we will have to send 1000 ERC20-AWC to 0x6CD20Ab55479F8c8B813c6650Ce55C619B4EF3cD and wait for the transaction to be confirmed
With our exchange ID and link https://changenow.io/swap/txs/8a6ecc8db9bdfc, we can track our transaction at any time to know if our swap is complete.
Eventually, the status of the swap transaction will automatically change once the transaction is confirmed on the Ethereum network.
Congrats! We are done swapping our tokens. From the image above, our exchange took 13 minutes to complete. This time around, we used a higher gas fee contributing to the quick confirmation of the transaction.