I believe most of us have had experience with cryptocurrency exchanges once or more in our crypto journey. How was the experience when you first traded on an exchange and what exchange platform was it?
We would all attest to the fact that it was a nice but complicated experience. It could be even worse with decentralized exchanges (DEXs) as most people have complained about their ease of use. However, new DEXs have worked tirelessly to improve their user interfaces (UI) making trading more appealing.
The advent of instant crypto exchanges has taken usability and user-friendliness of exchanges to another level. This has made it much easier for people of all kinds to trade crypto will less or no directives.
changeNOw is one of the popular instant exchanges in the market today and we are going to look at how we can make use of their platform to swap our cryptocurrencies.
changeNOW is an instant crypto exchange that allows users to conveniently swap their coins and tokens without having to create an account and enjoy limitless exchanging. changeNOW also supports the purchasing of crypto with bank cards and the service can be accessed on their multiple platforms.
With the help of its liquidity providers, changeNOW is able to assist its users in exchanging their crypto with the best rates in the market.
What coins/tokens are Supported?
changeNOW supports most of the top cryptos including Bitcoin. Ethereum, Litecoin, Bitcoin Cash, Ripple. Stellar, Monero, Basic Attention Token, Loopring, DAI stablecoin and many more
Why use changeNOW?
- changeNOW is easy to use as you don't need to create an account and the platform has been designed to support usability with less or no technical knowledge.
- No KYC and limits on transactions
- You can exchange as low as $2 worth of tokens and it comes with no hidden fees.
- The service is available in a web application, mobile app and Telegram bot making is easily accessible by all and offers users multiple ways to exchange their crypto.
How to Exchange on changeNOW
Below is a step by step guide on how we can swap one crypto for another using the changeNOW platform
Go to changeNOW. On the landing page, We have three buttons you can switch between depending on what you want to do. The first two from left (Classic Rate & Fixed Rate) are used for exchanging but work differently. The last which is the "buy Crypto" as the name suggests is used when you want to buy crypto with your bank card.
In this tutorial, we are going to stick to the "Classic Rate" and will cover the others in another post.
After selecting the "Classic Rate", immediately below is the field to enter the amount of crypto we want to exchange. Next to it, is a drop-down button with a list of supported assets. Click on the down-down button, search and select the coin/token you have in your wallet and wanting to exchange.
We trying to exchange BAT for ETH so choose BAT and choose ETH as the receiving currency.
Enter the amount of BAT you want to exchange and the system will automatically calculate the amount of ETH you going to receive which is dependent on the current market price. You would realize the expected amount keeps on changing after a refresh. This is what makes the "Classic Rate" different from the "Fixed Rate". It relies on the live market price to calculate the expected amount until an order is submitted. Click "Exchange" to proceed to the next stage.
Enter your Ethereum address and click on "Next"
the next page is the order "Confirmation" page where you find details of your transaction such as the amount to be received and the recipient address, the estimated time you are going to receive your ETH. Click on the "Confirm" button to proceed to the next step.
We will have to send exactly 10 BAT to the address provided. You can also scan the QR code with your wallet and approve the transaction. Using the QR code saves you from having to copy the ETH address manual and it auto inserts the amount of BAT due.
We then have to wait for the transaction to confirm on the blockchain and are wallet will be credited accordingly.
With the "Classic Rate" option, the final amount of ETH you are going to receive might vary from what was displayed on your screen in the course of exchange. This is as a result of the exchange rate influenced by factors such as price fluctuations, market conditions, and network fees.
changeNOW is a very good tool for day to day crypto exchanging needs. It has made it much easier to swap coins and tokens with just a few clicks. The platform has been skillfully designing for intuitive navigation. The platform supports over 200 cryptos with periodic integration of new assets. Customers of the service have 24/7 customer support at their disposal.