Today we’d like to introduce our colleagues from the Changelly – instant cryptocurrency exchange service. They have been working in this business field for four years already and proved themselves as a convenient and reliable service. Hence, today we’ll be happy to share some facts as well as tips on the process of exchanging cryptocurrency through Changelly instant cryptocurrency exchanger.
Let’s start by analyzing the current crypto market state. There is no certain price trend in the cryptocurrency market at the moment. The price fluctuates in the range between $9,500 and $10,500 per BTC. However, at the beginning of 2019, the BTC price was around $3700, which is 5 times less if to compare with the same period of 2018 when the father of crypto reached its highest mark of $20000. What can you do in that unstable & somewhat unpredictable situation?
Bitcoin Volatility Index (BVI) showing that we’re stable comparing to the situation in December ‘17 when Bitcoin hit its All-Time-High of ~$20,000. Source: btcvol.info
First Scenario – Buy at the Bottom & Sell at the Top
Wait for the price drop to the lowest level possible in this price range mentioned above. Buy as much as I can and wait for the price to rise at least 30%, cause I have to pay my order fees and additional fees to withdraw earned coins to my wallet and be sure to leave my initial stake at the exchange in order to make a profit again in the future.
In this case, it’s better to keep your funds on a cryptocurrency exchange with the lowest commissions on the market (see the latest announcement on fees from HitBTC, who actually pay traders with high monthly volume). However, crypto exchanges are yummy targets for hackers, so make sure to secure your account with 2FA, complex passwords, and encrypted e-mail services like ProtonMail.
If you’re not an experienced trader and not going to make a career in this field, you better go to Changelly (or any other exchanger, if you wish) and simply buy / exchange coins when you see the price is low and sell when you’ve made enough money out of exchange rates difference.
In the case with Changelly, you don’t need to worry much about the security of the exchange (if it’s not a DEX of course) as they do not store users’ funds. On top of that, you don’t need to share your winnings with the exchange when you put your orders and wish to withdraw. Changelly’s commission is fixed to 0.25% per crypto-to-crypto transaction, the lowest among competitors.
Second Scenario – Simply buy & HODL
The goal is to buy at the best exchange rate possible and store it for a long time on your personal crypto wallet. The exchange is not the best option for me, as you have to register and deanonymize yourself through passing a boring KYC procedure. I’d choose a local market with a person-to-person exchange process and hope the person I’ve chosen isn’t a scammer. Most of such platforms require you to verify your personality, which is also no good if you wish to cut some tax expenses or stay anonymous, right?
To cut the risks, it’s way better to use trustworthy exchange service like Changelly:
– No KYC/AML if your coins aren’t publicly marked as illegal;
– 5-30 minutes and your coins went to your wallet,
– And again – 0.25% fixed fee is currently the lowest one on the market.
Also, it’s not necessary to create an account, if you wish not to. Safe & sound, right?
Well, what else to say about Changelly?
1. They have a mobile application on Android to exchange coins on the go. The iOS version is coming in hot very soon.
2. They also make their customers happy with exclusive promotions – for example, they offer the opportunity to buy Stellar at a lower price with your bank card.
3. The most favorable exchange rate officially! Just look at the comparison table below or check for yourself right now.
4. Earn with Changelly. Check out their cool exchange widget you can put on your website or a blog’ sidebar and earn a share of their profits passively. Check out more information on their affiliate program terms and conditions.
Changelly’s Exchange Widget
Changelly is fast, beneficial and convenient. Doubt it? Try to buy or exchange cryptocurrency assets for yourself. See you soon on Changelly!