Frequently Asked Questions
Recently, most central exchanges delisted any/all privacy coins, such as Monero (XMR), Zcash (ZEC), Dash (DASH), etc. Here you can easily exchange between over 177 different tokens without going through KYC or additional registration. The software is able to quickly swap between more than 170 coins without charging any hidden fees.
We have partnered with changenow.io and NowNodes.io which is integrated into multiple cryptocurrency trading platforms, including Binance, Bitfinex, Huobi, OKEx, and KuCoin. At the time of the trade, background process queries the nodes and selects best exchange rate offered through the liquidity pool, hence often times providing significant savings compared to any individual exchange.
We have staff available around the clock to assist you with any potential problems. More importantly, with the exchange process being fully automated, you always remain in control of your funds, making it impossible for anyone else to access your assets. Complete automation is the reason we do not ask for any personal information and have utmost respect for your privacy.
The processing speed ranges from approximately two to twenty minutes, depending on how long it takes for a block to form on the network. Most orders process in just a few minutes. At times larger transactions (1 BTC or greater), may take a little longer, depending on the size and capacity of the block. Having the entire flow automated as well as the ability to interact across a number of blockchains, we offer the highest exchange speeds on the market thanks to our trading algorithms.
Cryptocurrency wallet address is a unique combination of numbers and letters ranging from 26 to 35 characters in length. It usually looks something like this: 17bkZPLB4Wn6F347PLZBR34ijhzQDUFZ4ZC.
When you decide which crypto coin you would like to acquire, find a reliable wallet. Each cryptocurrency has a unique address structure, yet we’re seeing more and more wallets, which offer at times the ability to hold over 100 different digital assets. You can find a detailed comparison and reviews of top wallets available on the market today. It can be found under the resources menu along with many other reviews and recommendations. When you create a wallet, you automatically get an address and a private key. Keep your private key to yourself and don’t show it to anyone, even if they ask.
For security reasons, we will never ask you for your private keys and nobody should.
If you want to buy a cryptocurrency, you need to have it sent to a specific crypto wallet. Each coin has its own address. The recipient address is your wallet, to which your crypto is transferred after the exchange.
Transaction hash (also referred to as “TX”) is the unique identification code that registers every transaction in the blockchain. This unique code allows you to verify its status and validity in the blockchain.
Blockchain operations are irreversible. If the funds are sent, the transaction cannot be canceled by anyone. Therefore, thoroughly check all the payment details before sending funds to anyone, including us or anyone else. This is generally the biggest challenge faced by anyone entering the cryptocurrency arena. For most, any hesitations are quickly balanced by realizing the ability to have full control over your finances, ultimately rendering conventional banks useless.
It takes some time to process transactions. Due to the high volatility of cryptocurrency, speed is crucial, however, the final exchange rate can differ both in the positive or negative direction. What we guarantee is the best rate at the very moment of an exchange operation.
The process of exchanging crypto consists of many different steps, and during those steps, various fees are charged. These are the possible ones: – network fee for the deposit transaction from a customer’s wallet; – network fee for transferring coins to our liquidity provider; – trading fees that our liquidity providers charge; – network fee for sending the exchanged funds to the customer. The fees vary depending on the currency and the exchange amount. For every swap, our algorithm finds the fastest and most user-profitable way to execute an exchange. It is crucial to us that the final amount you receive is as close to the estimate as possible. That’s why we calculate all the possible fees for every transaction very thoroughly and include them in the estimate.
Transactions on NowNodes usually take from 5 to 30 minutes. If your transaction takes more time, it may be due to various issues:
- DDoS attacks. Unfortunately, such problems happen from time to time, but we are always happy to help you and solve any issues;
- Cryptocurrency updates. We may update the client and disable some coins. As soon as we turn them back on, you will get your funds right away;
- The blockchain is overloaded. Too many transactions are waiting to be included into the blockchain, and yours may wait for its turn, too. Sometimes you might have to wait a little longer.
There is no upper limit for cryptocurrency exchanges carried out across NowNodes infrastructure. However, there are lower limits: they are different for each coin and range from ~$1.7 to $20. We’re working on lowering the minimal exchange amounts for all the coins available, and will announce any significant changes. If the deposit you’ve sent us is less than the minimum exchange amount, we will not be able to finish the exchange and guarantee a refund.
If you send in an asset that is not supported on our exchange (full list of supported assets is available prior to the transaction taking place ), unfortunately, we won’t be able to guarantee a refund. Please keep this in mind to make sure your funds are safe at all times.
A classic rate cryptocurrency exchange is an exchange performed at the current most profitable rate on the market. An expected rate is the current exchange rate you will get. However, the cryptocurrency market is highly volatile and you should account for that.
During the classic rate exchange, each transaction may have its own unique exchange rate because of price fluctuations, market conditions, and network fees. The rate might change at any moment; as a result, you might receive more or less than you thought you would. Any slippage is generally less than what one would pay on a centralized exchange.
The expected rate is the rate at this exact moment. You must understand that it takes some time to send the deposit and confirm the transaction so, with the market volatility, you might get a bit less or more than you thought you would.
A fixed rate crypto exchange is an exchange performed at the same rate which is displayed to the client at the beginning of an exchange, regardless of subsequent rate fluctuations.
In some cases, fixed-rate exchanges have lower rate but the opposite is also possible.
During the сlassic flow, each transaction may have its own unique exchange rate because of rate fluctuations, market conditions, and network fees. The rate might change at any moment; as a result, you might receive more or less than you thought you would.
Implementing fixed rate exchanges leads us to lay down a small reserve to guarantee your safety from exchange rate fluctuations. It’s included into the rate you will see at the beginning of the exchange, no other fees included.
Because of the rate risks we take, the fixed rate may differ from the сlassic flow’s rate. However, it gives our customers confidence in the amount they will receive.
After you’ve picked the Fixed Rate flow, you create an exchange and make a deposit. You have 20 minutes to deposit your exchange funds; during that time, we guarantee that the rate won’t change in any way. You will receive the exact amount that was displayed to you.
You may choose the fixed rate flow if you would like to be certain that the amount of crypto you’ll receive will stay the same, no matter what. With fixed rate exchanges, our users enjoy the stability of their conversions and are safe from sudden rate drops.
In some cases, fixed-rate exchanges have lower rate but the opposite is also possible.
It means exactly that — exchanges of certain trading pairs are carried through our partners. These exchanges aren’t much different from regular exchanges, however, there are a few things you might want to keep in mind:
- In these cases we don’t carry out any KYC checks on our side. However, they might be carried out by our partners;
- Please be aware that other services that we are partnered with might have KYC policies that are different from ours;
- However, us carrying out exchanges through third party services does not mean we forfeit our responsibility for the exchange. If you run into any issues during the exchange, just let our support team know and we’ll help you out in the shortest time possible.
Customers don’t need to create any sort of accounts.
However, there are some exceptions.
NowNodes uses an automated risk management system to check all transactions. Each case will be considered individually. According to European AML directives, KYC regulations, and platform requirements, we will ask you to provide a scan of your ID document valid in your country, as well as some additional information on the funds’ origin.
The Bitcoin Cash hard fork has resulted in creating multiple chains. However, as they are not secured by replay protection technologies, there is a chance of double-spending affecting both chains (BCH/BSV or BCH/BCHA). It means that transactions made with one of these coins may be replicated for the other.
In such a case, please contact our support team at firstname.lastname@example.org. We will do our best to refund you within 24 hours. Still, we have to warn you that in some extremely rare circumstances there may be no chance of getting the funds back. The best way to avoid it is to split your coins: please make sure you did prior to arranging the transaction.
Please keep in mind that our deposit addresses for BTC conform to the SegWit standard. It’s technically impossible for us to withdraw any coins except for BTC from SegWit BTC addresses since neither BCH, LTC, or BSV support SegWit at the moment. When it comes to refunds, note that NowNodes team and technical department is able to refund only BTC from SegWit BTC addresses. No other crypto assets, including but not limited to LTC, BSV, BCH sent to a SegWit BTC address could be refunded.