More than 600 different crypto currencies are available in the cryptocurrency world. They have a combined market value of over $2 trillion. A number of platforms exist to facilitate the trading of these digital currencies. Investors all over the globe are keen to participate in the rapidly growing space.

Everybody who wants to trade, buy or trade cryptocurrencies must choose the right platform to meet their requirements and goals. There are many platforms on the market and more in development. The question now is how can you stand out in this highly competitive industry with so many options.

Mike Ermolaev is the head of public relations at ChangeNOW and explains why crypto platforms are thriving.

A Non-Custodial Crypto Service

ChangeNOW is a user-friendly platform for instant, limitless, and registration-free cryptocurrency exchange, founded in 2017. There are currently around 320 currencies available for trading on the platform. As the platform is non-custodial and doesn’t store funds, users are safe from hacks and fraud.

Ermolaev explained that the company’s priority was to create an environment for customers, providing a wide range of tools and services. The company is currently working on ten different projects, and Ermolaev is pleased with the company’s results.

ChangeNOW has released the NOW Tracker official app for cryptocurrency exchange. Users can add any cryptocurrency to their portfolios and track the rates at all times, manually or automatically.

The NOW Tracker and any third parties do not store or collect personal data. Privacy is paramount to the company. All data remains on a given user’s devices, so only they can control it.

Ermolaev explains that scaling the business and expanding the ecosystem are the company’s next steps. Their goal is to release a wallet that will allow customers to store cryptocurrency within the ChangeNOW ecosystem.

Market Demand Diversity

CoinMarketCap rates 302 top-performing exchange platforms, with numerous exchanges not making the list. Although it may seem difficult to grab attention in this highly saturated market, and build a large user base, it is possible.

Ermolaev does not believe that big market players are the solution to innovation.

“Why is the crypto market requiring yet another cryptocurrency exchange service?” Diversity is what every market requires, in my view. If you have only one big service, it doesn’t push the industry forward and only in rivalry and in the competition you can see the real move,”
mused Ermolaev.

Ermolaev says crypto is in a pivotal moment. Ermolaev argues that, despite occasional fluctuations in market value Ermolaev believes the market is on the rise in general. Cases of mass adoption are emerging, such as El Salvador adopting as currency, despite protests and associated risks.

It is precedent. That was what we waited for for so long. For example, you can see the necessary reactions. The official reactions to other countries, such as Cuba or Central American nations, are also visible. It is essential for both mass adoption and the future of crypto,”
emphasized Ermolaev.

ChangeNOW’s future goals include increasing crypto adoption. The product could help to increase mass adoption by collaborating with other non-crypto FinTech entities.

On The Flipside

• As the crypto exchange market is highly saturated, ChangeNOW will have to fight for its spot in the light.
• Higher numbers tend to be attracted by the more well-known exchange platforms.
• It is difficult for users to differentiate the value proposition of different cryptocurrency service providers due to an overload of information.

Why Should You Care?

It is the rise of crypto-exchange platforms that has prompted increased competition. ChangeNOW is an exchange platform without registration and that does not require clients to be custodial.

Watch the full interview next week here.

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