From its obscure beginnings back in 2009, Bitcoin has exploded into a global phenomenon, by introducing a world of opportunities and the possibility of a democratized financial economy.
Bitcoin has become a widely adopted currency to contend the traditional financial mechanisms. Already Bitcoin can be used to pay for a multitude of goods and services, with many online platforms and even various local stores accepting it as a legitimate means of payment.
You can buy Bitcoin via several methods. The most popular method is to purchase from a cryptocurrency exchange, like Binance and Coinbase for example, or brokerage companies like eToro. However, buying Bitcoin this way is by no means cost effective, with fees of up to 1.49% (Coinbase) and 5% (eToro) for purchase and then again for trading. Furthermore, the use of these platforms can be intimidating and complicated, particularly for new crypto users.
Change on the other hand, is a blockchain-based finance app that offers the same ability to directly buy, trade and sell bitcoin and other cryptocurrencies, minus the fees. With a basic and familiar bank transfer functionality, users can add money to their Change wallet and use those funds to then buy Bitcoin directly from the app.
The amount of money deposited into your Change account is safe from the crypto market’s volatility until you actually purchase a cryptocurrency. For example, say you deposit 100 EUR, this exact amount will appear in your Change account as ‘uninvested’ and held invariably secure. This is made possible with EUR₮, a stable coin that is pegged to the Euro.
While depositing funds via a bank transfer is completely free, the speed of the transfer is subject to your existing bank capabilities – alas it is not instantaneous. Accepting debit and credit cards will solve this issue, and Change will be integrating this feature as an alternative option soon.
Furthermore, the user-friendly Change app allows new crypto users to confidently enjoy the benefits of bitcoin and cryptocurrency, without fear of losing money due to common errors, encountered by confusing and complex user-interfaces. Ease-of-use is a key element that makes Change so valuable and will lower the barrier-to-entry for the next wave of cryptocurrency adoption.
In congruence with the user-friendly nature of the app, Change will be releasing a cryptocurrency-friendly card that will enable users to make purchases with any of their wallet’s supported cryptocurrencies at any one of the participating online and offline locations around the world. Make sure to keep your app updated by downloading the latest version on App Store and Google Play.
Change is licensed under EU regulations, hence the application is available and free to use now within the EEA, with imminent plans to expand globally upon approval of further licensing as the fintech company expands.
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