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ChangeNOW: Crypto Exchange Platforms Should Focus on Transparency, Security, and Ease of Use

If you are a regular crypto trader, you know that staying on the safe and easy side is crucial. Choosing the right digital asset exchange platform can be challenging, but the industry is growing, and exchange platforms are rapidly advancing.  

ChangeNOW is a non-custodial crypto processing and exchange platform that also offers a comprehensive ecosystem of other crypto products and services. 

Users can swap crypto-to-crypto or crypto-to-fiat through the ChangeNOW website, as well as via dedicated apps on iOS and Android mobile devices. 

ChangeNOW doesn’t require registration, allowing anyone to freely access it and swap as much crypto as they want in just a few clicks.

The platform is transparent about exchange time and fees. It mentions all possible fees, including network fees and routing costs, which might not be common among other cryptocurrency exchange services that offer lucrative rates to entice new users. 

Together with enhanced security and availability, ChangeNOW offers general ease of use. 

“We keep pace with an ever-growing crypto industry, scaling our innovation efforts to develop new features and products. We strive to become a one-stop for any crypto need our users might have. All this makes ChangeNOW an ideal choice for crypto beginners and veterans alike,” 

Mike Ermolaev, the head of PR at ChangeNOW, emphasized during an exclusive interview with DailyCoin. 

ChangeNOW Continues Developing Its Product Ecosystem

In early September, ChangeNOW released a full version of its portfolio tracking app, NOW Tracker, after the successful completion of its beta testing. The company also recently launched NOW Wallet and will shortly roll out the cashback mechanic, which will be closely related to ChangeNOW’s long-existing product, the NOW token.  

“What’s more, we’re creating a custody and brokerage service. We want to develop a full-fledged financial cryptosystem with a fiat gateway, where the user can do whatever they need with crypto without leaving the ecosystem,”

Ermolaev said.

The wallet has already been released, the cashback is to come out before December 2021, and the broker will hopefully see the light of day by the end of the year. 

“At the same time, we don’t stop supporting and developing existing products in line with the interests of our users. The community-first approach is central to everything we do at ChangeNOW,”

Ermolaev added.

DeFi Is the Future of Finance

People are often let down by traditional financial institutions, and here’s where DeFi comes in with an alternative that is preferable in many aspects. It is revamping the world’s financial system, creating a market environment that, in theory, should be more secure, transparent, and easily accessible. DeFi has grown explosively and it’s very likely to rise further. 

Ultimately, the competition between Ethereum-based and non-Ethereum-based DeFi will prove to be useful for the market. Meanwhile, high gas prices are sending coins like Cardano, Solana, and others to ATHs. All these coins are very popular among the users of ChangeNOW, Ermolaev explained.

Despite the obvious profitability of financial innovation, many large institutions are still reluctant to enter the market due to the lack of regulations, and this can significantly impact DeFi adoption. 

Compliance, according to some, is the only way forward, and while regulation may lead to some centralization in DeFi, projects that comply will survive in the long run. Others think DeFi should self-regulate, and that the community must decide for itself what’s best for its future. The relationship between institutions and DeFi will be crucial to its growth.

Aware of Money Laundering Issues

ChangeNOW exists under the jurisdiction of Seychelles, therefore it’s not subject to any external regulation. However, the company cooperates with various government authorities to combat money laundering and fraud. It also provides assistance to the FBI, CIA, and Interpol whenever they ask for it, and always returns the stolen money. 

However, there have been some instances of lost money, Ermolaev shared:

“Recently, we assisted in returning about $15 million to Compound that was mistakenly gone out to its user due to Compound’s upgrade bug. We use our best efforts to dispel the perception of a crypto exchange as a place where money can be laundered.”

Meme Tokens Are Gaining Popularity

Dogecoin and other clones, as well as meme coins, are gaining great attention. This means the community has a strong influence.

As for the regional breakdown, there’s a lot of activity in Europe and Southeast Asia. Germany is Europe’s most active crypto country, ChangeNOW statistics say.

“We see a growing number of people stepping into the crypto world to buy and exchange cryptocurrencies as they lose trust in traditional financial institutions and want to diversify risks. We think this is a significant step towards financial literacy, and crypto only benefits from it,” 

ChangeNOW’s head of PR concluded.

On The Flipside

  • Large crypto exchange platforms are still dominating the industry, with smaller ones often being overlooked.

Why You Should Care?

ChangeNOW promotes the adoption of crypto among mainstream audiences and aims to provide a safe, private, and user-friendly environment as part of a broader effort to propel crypto into the future.

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    This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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    ChangeNOW is an instant crypto exchange service that provides fast and registration-free crypto-to-crypto and fiat-to-crypto swaps. ChangeNOW’s ecosystem includes a wide range of products such as NOWTracker, NOW Wallet, Telegram Bot, Mobile Exchange app, NOW Nodes, etc. The platform’s team is happy to share news about their service and their independent views regarding the crypto market on DailyCoin.