ChangeNOW Introduces Improved Fixed Exchange Rates
DailyCoin
Published Sep 13, 2021 08:12AM ET
Updated Sep 13, 2021 08:30AM ET
ChangeNOW Introduces Improved Fixed Exchange Rates
ChangeNOW has announced an update for the fixed rate functionality on their cryptocurrency exchange platform. The changes involved interface, transaction time, exchange limits, and the size of the rates during a fixed rate exchange.
The fixed rates exchanges will now be processed with enhanced speed, without any security cutback for each of the 29 crypto assets that support the fixed rate functionality, Bitcoin, Ethereum, USDT, Cardano, Doge, and Ripple among them. ChangeNOW is going to keep adding new coins to this list.
The update also touches upon several interface adjustments. Once a ChangeNOW customer agrees to a fixed rate, the clock is set for 2 minutes to create a transaction, and for 20 more minutes to send a deposit after the transaction is created. Now the time is indicated right in the calculator above the final exchange amount box. A small lock icon in this box enables ChangeNOW users to choose whether they want to use the fixed rates option or stay with floating rate. Same icons on the supported currencies page mark all 29 currencies available to proceed with fixed rates exchange.
According to Mike Ermolaev, head of PR at ChangeNOW, this move will give users more freedom of choice in exchanging their funds:
“Prices and fees in the crypto world are always unstable. Coins can turn bullish or bearish at any moment, even while a transaction is occurring. That’s why when exchanging one coin with another crypto or fiat, the average user only has an approximate idea of their total sum following conversion. The final sum can be bigger or less than expected depending on market behavior.
Fixed exchange rates are a means of changing this situation and making the whole process more comfortable for users. This newly updated feature lets ChangeNOW users know the exact sum they will get in the currency into which they are exchanging. After a user selects a fixed rate option, they are hedged against the market volatility, as ChangeNOW takes all the rate-related risks and protects them from the rate fluctuations. However, this feature is optional, we will leave it up to users to decide whether they want fixed or floating exchange rates on transactions.” As of now, this update is available both for the Android and iOS versions of ChangeNOW, as well as the web. The new perks also work through our API v2 and v1.
EMAIL NEWSLETTER
Join to get the flipside of crypto
Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.
[contact-form-7] You can always unsubscribe with just 1 click.
Continue reading on DailyCoin
Get The News You Want
Written By: DailyCoin
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.