Well-known cryptocurrency exchange platform launches applications for both Android and iOS.

The well-known exchange platform, Changelly, has recently released its latest application, marking the second revamp for Android users and the long-awaited debut on iOS.

Changelly states that its software is available on Google Play and Apple's App Store, and adds:

It offers a fixed-rate mechanism to reduce the risk of market fluctuations when exchanging cryptocurrencies. A fixed fee is charged for conversions between cryptocurrencies.

Changelly claims this to be one of the lowest fees in the market today. The method involves integrating a small reserve into the exchange rate when displaying the final figure to users to achieve this fixed rate.

This approach allows consumers to be confident that the funds they expect to receive upon delivery are accurate. Given the unpredictability surrounding cryptocurrencies, Changelly hopes this certainty will increase confidence in the cryptocurrency market for everyone.

It utilizes a sophisticated trading algorithm that searches exchanges to find the best rates when a user wishes to exchange one cryptocurrency for another. This technology has also been integrated into large and reputable trading platforms.

For example, when someone wants to convert XRP to Dogecoin and there are no trading pairs between the two cryptocurrencies on traditional platforms, two conversions must be made: first from XRP to Bitcoin, then from Bitcoin to Dogecoin. Apart from delaying the transaction, this also doubles the fees associated with completing the trade.

Changelly's unique selling point is ensuring this one-time conversion happens instantly and charging a low commission fee only once.

Educating the Public

Changelly also mentions that one of the main barriers for the general public to adopt cryptocurrencies is the lack of full understanding of their potential, let alone the basic principles of blockchain technology and the latest trends. Therefore, the platform has developed crash courses to help beginners learn more about cryptocurrencies.

In addition to providing a comprehensive explanation of types of crypto assets, it also distinguishes between hot wallets and cold wallets, and clearly explains the different payment methods available for purchasing cryptocurrencies. It even offers breakdowns of the differences between decentralized and centralized exchanges, as well as detailed information on common fraud and risks associated with trading.

This industry is not as mainstream as traditional markets, so it is crucial for those within the industry to find ways to bring more people in, considering the fact that the pie is currently too big for us to finish alone.

Further Reading

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• AEternity to conduct blockchain voting pilot project in Uruguay

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