Instant Cryptocurrency Exchange Comparison — Changelly vs. ChangeNOW
The number of crypto-related products expands every single day. As blockchain technology finds new ways of innovative uses in every sphere of our lives, new crypto services appear at the speed of light. To choose a good and reliable crypto project, you need to do your own research.
To simplify the task, we made this instant crypto exchange comparison between ChangeNOW and Changelly service.
Why Choose Instant Crypto Exchange Services
As the number of crypto exchange hacks is growing every day, it’s not safe to keep cryptocurrency in a crypto exchange account. Ok then, where to exchange crypto? — In instant exchange services such as ChangeNOW or Changelly. What’s important these type of services are non-custodial, which practically means they don’t hold users’ savings, they just implement exchange and send crypto funds to a user wallet.
In this case, another good question is what wallet to choose to store crypto? The best way to save crypto is cold storage.
Changelly and ChangeNOW Numbers Compared
Now, let’s take a look at the main characteristics of two crypto exchange services, namely ChangeNOW and Changelly. We collected their main features in the table below:
*according to Trustpilot
ChangeNOW, a cryptocurrency exchange service, operates with crypto-to-crypto exchanges only and offers its users to exchange cryptocurrencies two different ways: using the floating rate or the fixed rate mechanism.
Initially, ChangeNOW was built on the Changelly API. That is why the interfaces of these two services look pretty similar. However, there are several differences between them.
The ChangeNOW platform has its own NOW token, that has recently moved from Ethereum blockchain to Binance mainnet.
The token serves as the initial cryptocurrency when using ChangeNOW solutions. The service doesn’t require user data besides exceptional cases when a user needs to pass KYC for security reasons.
To date, Changelly is one of the oldest instant crypto exchange services on the market. Since it was found in 2015, Changelly gained the trust of millions of users. According to statistics, most Changelly indicators go hand in hand with other instant exchange services. However, there are distinctive features that make Changelly stand out from the crowd.
Changelly 24/7 customer support
The “secret weapon” of this crypto exchange service is its customer support. It’s no secret that when exchanging crypto, different kind of issues may occur. In most cases, the reason is a human error (mishandling). For example, if a user sends crypto to the wrong wallet address, he or she will likely lose all the sent assets. However, with the help of Changelly support team, there are much more chances that cryptocurrency won’t be lost forever. Every time Changelly customers get into trouble, the customer support is always there to help them, 24 hours 7 days a week.
Changelly crypto purchase solution
The other major advantage is the opportunity to buy crypto with a bank card right inside the service. Not only Bitcoin. All the listed cryptocurrencies are available for crypto-purchase. The supported fiat currencies to buy crypto for are USD, EUR, and GBP. These solutions are provided in collaboration with two Changelly partners — Simplex and Indacoin.
To sum it up, let’s take a look at the comparing table once again. The numbers provided show that both services are easy in use, offer various crypto assets for the exchange, don’t require user’s documents, and provide seamless transactions within 30 minutes. However, some distinctions may seem crucial for some users, namely:
- Changelly has 24/7 customer support
- ChangeNOW has its token for internal operations
- Changelly gives an option to buy crypto for fiat
- ChangeNOW doesn’t require an email
- Changelly doesn’t require the wallet address for repeated transactions
So, think for yourself and choose a service that suits you the best way. Good luck in your further crypto investments!
Originally published at https://changelly.com on July 10, 2019.
Instant Cryptocurrency Exchange Comparison — Changelly vs. ChangeNOW was originally published in HackerNoon.com on Medium, where people are continuing the conversation by highlighting and responding to this story.