Today I will review a project called ChangeNow , tell you how it works, problems, solutions and will shed light on the ICO.
What is ChangeNow?
ChangeNow is a platform that allows users to exchange cryptocurrencies without a registration, in just a few simple and easy steps. So, for example, if you want to change your Bitcoin into Ethereum, you would be able to use ChangeNow to do this easily and efficiently. This service is extremely desirable for large volumes of people because many people like to quickly exchange one type of cryptocurrency for another. This is either to make quick reactions to changing market conditions, or simply because people prefer one cryptocurrency over another.
The White Paper explains the details in a lot more depth and is certainly worth a read.
Problems
Centralization: There is so many centralized services dominating users’ share. That is s, centralized exchanges and hosted wallets accumulate users’ funds, keeping the holders at risk.
Security issues: Alot of projects that store user funds are at risks of being hacked and projects can still suffer from the human error or technology failures.
Lack of transparency: Most services still lack transparency in their internal operations and mechanisms not minding the strive by cryptocurrencies to improve transparency of operations and transactions between users.
Poor customer service: There is long response times and canned responses with no real help to the end user due to detachment of support team from the developers
Solutions
- ChangeNOW is working towards decentralizing the sector and giving the users’ more control over their funds.
- ChangeNOW has gone through various penetration tests to ensure it has perfect security. The use of the best technologies helps in reducing the chances of human error.
- ChangeNOW will ensure there is transparency in all important steps in the operations and implementation.
How ChangeNow Works
ChangeNOW is a platform that is different from the other exchanges as it requires no registration and has no limits. Transactions on the platform will take about five minutes. You begin by selecting the currency that you want to exchange and the one you want to exchange to. If you are comfortable with the amount of the other currency, you proceed to the next step.
You enter your wallet address of the new currency. If you don’t have one, you can create one with the company’s partner services. If all the information is correct, confirm the transaction. ChangeNOW will then generate a deposit address that you will send your Cryptocurrency to. The exchange will then proceed and consider the best rate on the ten integrated exchanges and send you your preferred Cryptocurrency within a few days.
Why ChangeNow Exchange Should Be Used
- It is a decentralized blockchain, it makes it possible for users to be in full control of their funds, thus limiting the case of hacking as there is no central holding for the funds.
- There is high level of security to protect the whole transactions since it would be involving money and to prevent the case of human and technical errors, various testing has been done which confirmed the security level.
- The platform has a very active customer support system which will put users through whenever when there is any hassle at all and works 24/7 all to help the smooth accessing of the platform.
- There is an increase in transparency which will put users mind at rest as all activities going on about their funds will be available to them.
ChangeNow Features
Anonymity: ChangeNOW doesn’t store your personal information, so there’s no need to create an account on the platform before you exchange cryptocurrencies.
Easy to Use: You can deposit your own cryptocurrency into the exchange, or buy crypto using your Visa or Mastercard.
Fair: ChangeNOW claims to pick the best exchange rate for you. All fees are clearly listed before you exchange.
Token & ICO Details
Token Details
Token Symbol: NOW
Full name: ChangeNOW Token
Type: ERC20 Token
1 NOW ≈ 0.2 USD
Tokens Amount: 200 000 000 NOW
Market Cap: 40 000 000 USD
Decimal: 8
Minimum investment: $ 50,000
Maximum investment: $ 500,000
Important – NOW tokens will be listed on major trading platforms by August 2018
Allocation
Conclusion
Consists of a team of experienced blockchain developers, Roman Lapin, CEO, has 12+ years of development experience on the edge with management skills. Sergey Sokratilin, Product Manager. Having a degree in physics, Peter Sergeev, Lead Developer, is a blockchain enthusiast, he has experience in software development for 10+ years to mention but a few .
ChangeNOW wants to help. You pay a premium exchange rate for ChangeNOW’s services, but you get to buy, sell, or trade cryptocurrencies in an anonymous way. The service appears to be reputable and is designed to be easy to use.
WEBSITE: https://changenow.io/
TELEGRAM: https://t.me/NOWtoken_Bounty
TWITTER: https://twitter.com/ChangeNOW_io
FACEBOOK: https://www.facebook.com/ChangeNOW.io/
MEDIUM: https://medium.com/@changenow_io
Author: belushiiwuzeree
My BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=2191289
ChangeNow's transparency and anonymity claims need to be double-checked. It will be good that they be less vague and make their rules and policies clear. You cannot claim anonymity and ask for personal information from some users for KYC check claiming the transaction was flagged by the system. This actually happened happened to a user who now has 11BTC stuck with them. That's a serious scam accusation that they still have not resolved: More information in the accusation here: https://steemit.com/exchange/@johnycomelately/scam-changenow-io-evercode-lab-lapin-sokratilin-stole-100-bch-11-btc-usd70-000
ReplyDeleteThere is nothing transparent about ChangeNow, after the 11BTC case surfaced, they started doing everything to look legit. Apparently they have even changed the names of CEOs/Founders on the original white-paper for their NOWtoken, as well as moved their Russian office, where it was originally listed before the 11BTC scam case came alive. People who cannot stick to one face of a company, how can one trust them. Hiding behind a false pretence, and taking clients funds. Latest updates about the case can be found here: https://www.reddit.com/r/CryptoCurrency/comments/8wsgir/changenowio_scam_fraudsters_have_stolen_100_bch/
ReplyDeleteMy own with this is case is that ChangeNow have confessed that they did anonymous transactions for customers before. But now they are no more doing this type of transactions. Since the 11btc man, and the privcoin people did their business with them when the company is still doing anonymous transactions, then it is bullshit that the company ask for ID from both of them, because that time, they said the do anonymous transactions, and that is when both of them transact with them. It is because the money is big form this two customers that they want to steal it for their own.
ReplyDelete