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ChangeNOW is a major cryptocurrency exchange platform, offering both non-custodial and custodial exchange solutions. When you log in to your ChangeNOW Pro account, you’ll see two swap options in the exchange block: Exchange Crypto and Exchange Pro. Each has its own merits, depending on your needs: from full control over your funds to the faster exchanges and lower fees. Let's break down the differences between these two exchange types to help you make the right choice.
Key Takeaways
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Exchange Crypto vs Exchange Pro: Exchange Crypto offers full control over funds with higher security but slower transactions, while Exchange Pro provides faster exchanges, lower fees, and requires depositing funds on the platform.
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Security and Control: Exchange Crypto is ideal for users who prioritize security and autonomy, as it is non-custodial, while Exchange Pro is better suited for users seeking convenience and quicker, cost-effective transactions.
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Transaction Flexibility: Exchange Crypto supports promo codes and cashback but has higher minimum exchange amounts, while Exchange Pro is designed for faster exchanges with lower fees and a lower minimum exchange amount.
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Advanced Features for Both Options: Both solutions offer features like refunds in case of issues, but Exchange Crypto provides more control, while Exchange Pro ensures quicker transactions with the potential for future cashback features.
Exchange Crypto (Non-custodial Exchange)
What is Exchange Crypto?
Exchange Crypto is a non-custodial solution, meaning that you have full control over your funds. ChangeNOW does not store your funds but simply facilitates the exchange process. This is ideal for users who prefer to maintain control over their cryptocurrency holdings at all times.
Features:
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No Fund Storage: ChangeNOW does not hold your funds. You exchange directly from your wallet to another, ensuring security and autonomy.
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Cashback for Exchanges: When swapping in Exchange Crypto, you get up to 0,2% cashback on each exchange. The amount and limits depends on your ChangeNOW Pro plan. Read more about the benefits of each plan in our previous article.
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Fixed Rate: You can lock the exchange rate at the moment you confirm the transaction. No surprises, no slippage. But you can as well perform the transaction with a standard rate.
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Minimum Exchange Amount: The minimum exchange amount may vary, but typically it’s higher compared to Exchange Pro.
In Advanced Settings section:
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Promo Codes: You can use promo codes to get additional discounts on exchanges, making transactions even more affordable. How to get one? Follow the news in our Twitter and Telegram to not skip the treat!
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Refund Wallet: If something goes wrong during the transaction, ChangeNOW has a refund feature to return funds directly to your wallet. But no worries! Even if you don’t put your refund wallet in, we’ll still refund your assets if needed.
Exchange Pro (Custodial Exchange)
What is Exchange Pro?
Exchange Pro is a custodial solution, meaning that ChangeNOW holds your funds. This option is designed for users looking for faster transaction times and lower fees, making it a great choice for larger exchanges.
Advantages:
- Deposit Requirement: To exchange on Exchange Pro, you first need to deposit your funds onto the platform. Simply click on ‘Top up’ and follow the instructions. Once deposited, your exchange is processed quickly.
- Trustworthy: 100,000 users trust ChangeNOW’s custodial solution for smoother transactions, and the number is growing!
- Lower Minimum Exchange Amount: Exchange Pro typically has a lower minimum exchange amount, allowing you to swap smaller sums with ease.
- Faster Transactions: Exchange Pro processes transactions faster.
- Lower Fees: Because Exchange Pro holds your funds temporarily, it reduces the complexity of the transaction, leading to lower fees. The more you deposit, the more profitable it is to use this option.
- Cashback Coming Soon: Cashback features will be introduced to Exchange Pro soon, offering even more value for users.
- Deposited Coins: All coins available for exchange in Exchange Pro are deposited within the platform.
Useful Tips for ChangeNOW Pro Users
One of the best parts of ChangeNOW Pro is the ability to watch live how your funds making their journey through blockchain worlds:
We do our best to make sure that your transaction will go through smoothly, even if something goes really wrong. Here's how we handle various scenarios:
We Will Process Your Transaction Even If:
- You send a deposit on a network that was not intended, provided the asset is supported by our service.
- You initiate a transaction for a wrong coin.
- You choose one amount but send another one.
- You make more than one deposit for the same transaction.
- You make a deposit a very long time after the exchange has been created or completed.
We May Not Be Able to Proceed on the Initial Terms If:
- You send a deposit for a fixed-rate exchange when the rate has already expired, and during this period of time the rate went down.
- You make a transaction using the wrong contract address.
For such scenarios, we do encourage you to reach out to our support team. The exchange can be continued from there, or you may request a refund if preferred.
How to Cancel an Exchange:
- If you haven't sent funds yet: There's no need to cancel the transaction. Simply create a new one.
- If you have already sent funds: Contact our support team immediately for assistance.
Comparison Table: Exchange Crypto vs Exchange Pro
| Feature | Exchange Crypto (Non-custodial) | Exchange Pro (Custodial) | Real-life Example |
|---|---|---|---|
| Definition | Non-custodial exchange; funds remain in your wallet | Custodial exchange; funds are held by ChangeNOW | Mike uses Exchange Crypto to swap directly from his wallet. Sam deposits funds into Exchange Pro for a fast exchange. |
| Control Over Funds | Full control over funds; ChangeNOW doesn’t store them | ChangeNOW holds funds temporarily | Mike maintains full autonomy over his assets with Exchange Crypto. Sam may withdraw his funds any time. |
| Security | Higher security due to no fund storage | Relies on ChangeNOW's security for fund storage | Sam trusts ChangeNOW’s custodial services for smooth transactions. |
| Transaction Speed | Slower due to direct wallet-to-wallet swaps | Faster transactions as funds are pre-deposited | Sam completes his swap faster in Exchange Pro. |
| Fees | Cashback up to 0.2%; generally higher fees | Lower fees; cashback feature coming soon | Mike enjoys cashback rewards, while Sam benefits from reduced fees. |
| Minimum Exchange Amount | Higher minimum amount | Lower minimum amount | Mike needs a larger amount to exchange, but Sam can swap smaller sums on Exchange Pro. |
| Promo Codes | Supported for additional discounts | Not available yet | Mike uses promo codes to save on his exchanges. |
| Refund Wallet | Supported; refunds processed to the wallet in case of issues | Not needed as refunded assets go directly back to the balance | Mike relies on the refund wallet feature for added peace of mind. Sam doesn’t need to fill in this info, as refunded funds will be sent back to his deposit balance. |
| Target Users | Ideal for users prioritizing security and autonomy | Ideal for users seeking faster transactions and lower fees | Mike values autonomy, while Sam prioritizes speed and cost-efficiency. |
Which Exchange is Right for You?
Exchange Crypto: Best for those people who value control over their money and can wait a bit longer for the transactions to go through. Ideal for those who prefer noncustodial solutions and want to keep their assets in their wallet.
Exchange Pro: Perfect for those who require faster exchanges, lower fees, and are able to deposit their funds on the platform. In general, it is more convenient for frequent or large exchanges.
Ready for faster exchanges and lower fees? Try out Exchange Pro today!
