ChangeNOW has recently integrated Dash into their online exchange that offers users the ability a more semi-confidential way to trade cryptocurrencies.
https://twitter.com/ChangeNOW_io/status/1098899757337071617 ChangeNOW proclaims themselves as a “limitless instant crypto exchange service” since they “allow for seamless quick swaps of more than 160 cryptocurrencies in just a few simple steps, no registration required”. To increase their liquidity they “work with several big exchanges, most notable being Binance, Bittrex, and Bitfinex” and utilize an algorithm to select the best rates from the various exchanges. ChangeNOW does not add on an additional exchange service fee for themselves. They also offer most users a way to trade without any form of registration, but this is not applicable across the board of all their users.
Their motivation to deliver enhanced services to consumers aligned well with their decision to integrate Dash.
“Dash is a really awesome crypto with a great community and a lot of potential, so we have been working really hard to integrate it ASAP. And here we are!“
Changing landscape of confidential trading
ChangeNOW requires no registration for cryptocurrency trading and only requires email registration if a consumer/trader wishes to move into and out of different fiat currencies. However, there is the possibility that the system will flag a transaction and place it on hold until the consumer/trader completes the KYC/AML requirements mentioned below.
- “A high-quality photo of any identification document valid in their country or internationally;
- A source of deposited funds (a screenshot or a file, but not links);
- A selfie of the client holding their ID document and a print-out of the note which will be provided by the support team.”
Nevertheless, ChangeNOW gives the consumer/trader the option to choose not to comply with the KYC/AML information and they will refund all money back to the sender’s address and that address will be blacklisted from using the exchange.
ChangeNOW’s KYC/AML non-certainty is an improvement over the increasing rate of coin exchanges that are introducing mandatory KYC/AML registrations or “membership” registration in the case of Shapeshift. ChangeNOW also offers a better service than other exchanges where there have been stories that accounts will become locked for KYC/AML issues and consumers/traders are unable to access their funds until they become complaint. ChangeNOW at least offers the possibility of no AML/KYC registration and if it is required, the consumer/trader then has the option to walk away with their money.
Dash helping individuals stay private
Dash historically started out as a privacy-oriented coin, but later shifted more towards everyday digital cash while still retaining many of its privacy features through PrivateSend. This has turned out to be beneficial since privacy cryptocurrency does little good to help keep consumers’ purchasing/selling habits confidential if they are limited in the number of areas where it is spendable/accepted. Dash is quickly amassing merchants that accept Dash all over the world and cataloging them to easily be found via DiscoverDash.
Additionally, while mobile cryptocurrency privacy features have historically been hard to attain, Dash’s PrivateSend is about to become possible on SPV mobile wallets while also being trustless through the Dash Masternode network with the latest version 0.13 upgrade. Currently, there is a Dash PrivateSend feature available on mobile through MyDashWallet, but it does require the user to trust MyDashWallet’s nodes when initiating the PrivateSend mixing. These improvements will further help consumers retain privacy by being able to mix on the go, at merchant locations, and make it less necessary to securely and privately move between different coins on exchanges.