Frequently Asked Questions
What is CryptoChanger?
CryptoChanger is an easy, fast and secure cryptocurrency exchange platform which provides competitive crypto to crypto exchange rates on the market.
How does CryptoChanger work?
We get best available exchange rate from our partner and display the estimated rate on our app. The rates stay estimated until the point when the exchange is really made on the blockchain. The exchange rate at the time of a transaction may differ slightly from the estimated rate that you see when you begin a transaction.
Why does not CryptoChanger fix rates?
We do not fix crypto currency rates and never have due to the volatile nature of cryptocurrency, where the rate of any crypto currency can change each moment. This is the reason the last rate might be somewhat higher or lower than anticipated toward the finish of an exchange.
Keeping the rates fixed would require us to cover market risks and crypto currency unpredictability, which thus would influence our commission fees to considerably higher. Rather, CryptoChanger charges a commission fee (2.5%) and offers the best accessible rate right now the exchange is finished.
What is the wallet address?
A wallet is a software program where crypto currency are stored. To be technically accurate, Crypto Currency are not stored anywhere; there is a private key (secret number) for every Crypto Currency address that is saved in the Crypto Currency wallet of the person who owns the balance. A wallet address is a unique combination of digits and letters that holds crypto currency. You use the address to receive and send crypto currency.
CryptoChanger does not provide wallet addresses service and never stores user deposits. To exchange crypto currencies on CryptoChanger, you have to give a wallet address where you can receive your exchanged crypto currency.
How do I get a wallet address?
Simply make sense of, what crypto coin would you like to purchase and look for a stable wallet version. When in doubt, each coin has its official wallet client.
Note that every wallet has its one of a kind address or a tag with a private key that is required to restore your wallet if lost. CryptoChanger never asks your private keys. Store them in a secure place and never disclose anybody. When private keys are stolen, your wallet with all the coins will be lost forever.
Whats the recipient's address?
There is always a sender and a recipient. The recipient’s address is the wallet address that will receive crypto currency you want buy. For example, if you want to buy Ripple (XRP), you should specify an XRP wallet address in the recipient field.
In general, the recipient’s wallet address is a customer’s address CryptoChanger will send coins to once a transaction is complete.
What is a hash?
A hash (or txn ID) is the unique address of a transaction in a blockchain that acts as a record or proof that the transaction has taken place. Usually, the hash is a combination of digits and lowercase letters (uppercase in the case of Ripple). Whenever you make a payment in crypto currency, you receive a hash displayed in your wallet. It looks like this: 357964f3776819c189e475b31c3b884448d232b6ad05d5e98f3c827d91f047c6
Every hash should be located in a blockchain. If you have any issues with a transaction on our platform, our support team may ask you to provide the hash for the transaction in order to find your payment and resolve the issue.
What is the maximal/minimal amount?
CryptoChanger does not have set amount restrictions. However, there are some cases when a minimum amount applies:
If an amount is very low, make sure that it will cover all network fees network fees required by a blockchain. This means that the amount you are going to send and the amount you are going to receive should be enough to cover input and output network fees taken by a blockchain.
Please follow the amount recommendations we provide. Otherwise, there is a high risk that your transaction will go through and your money will be lost.
What are network fees?
Each time any amount of cryptocurrency is sent or exchanged, the currency goes through a blockchain. This process requires a small fee called a ‘network fee’. The network fee is a commission that a blockchain takes from the amount sent in each currency. It is critical to make sure that the amount you want to exchange on CryptoChanger is enough to cover the exchange fees for both the process of sending your original currency and receiving the new currency you want to buy. If the sent amount is too low to cover the fees of the network, the transaction will not go through and your funds will be lost.
How do I cancel my transaction?
Unfortunately, blockchain transactions are irreversible. Once a transaction is made (money is sent to a particular wallet address), it cannot be rolled back. So, if you are going to exchange cryptocurrency, be sure to double check all payment details carefully before sending.
Why is my final amount different?
All transactions take time to be processed (usually 5~30 minutes). Given the volatility of crypto currencies, the exchange rate is subject to change during the processing time, which means the final rate may be slightly different from what you expected. This happens because CryptoChanger does not fix currency rates.
When should I receive my money?
CryptoChanger transactions take 5~30 minutes to be processed. If a transaction is large (worth over 1 BTC), processing may take longer, depending on the size of your transaction and blockchain capacity.
Why is my wallet address recognized as invalid?
CryptoChanger supports most wallets. If your wallet address is recognized as invalid, it is usually for one of the following reasons:
- You confused Dash (DASH) with Dashcoin (DSH). These are two different coins with two different values.
- You confused Factom (FCT) with Fantomcoin (FCN). Again, these are two different currencies.
- There was a typo or character missing in the address you provided. Make sure that the address you specify matches the actual address of your wallet.
Why does my transaction take so long?
As a rule our transactions take 5~30 minutes to be processed. It your transaction takes longer, this could be due to a variety of factors, including:
- Blockchain overloaded. There are many transactions waiting to go through, including yours. This issue occurs on the Bitcoin and Bitcoin-based blockchains. Unfortunately, the only thing to do is wait it out. CryptoChanger has no control over a blockchain overload.
- Coin updates. We may turn off some coins to update a client. This can take some time. You will get your money as soon as we turn it back on.
- DDoS attacks. Every platform is subject to such attacks. Unfortunately, in this case the only thing to do is wait it out.
Why is my transaction still waiting for payment if Ive already paid?
There are several reasons this might be happening:
- The transaction hasn’t been included to a blockchain. Cryptocurrencies are not stable, so minor errors sometimes occur. If this happens we will either refund you your money or push the payment through if you can provide the hash (a tx ID) of your transaction.
- ETC and ETH confusion. The addresses of Ethereum (ETH) and Ethereum Classic (ETC) have the same structure. If you send ETC or ETH, make sure that you have selected the appropriate transaction type on CryptoChanger. For example, if you create an ETH to BTC transaction, make sure that you send ETH, not ETC. Otherwise, your transaction will get stuck.
- Wrong XEM message. While sending XEM, make sure that you have put the correct message. It is indicated here and looks like a combination of digits and letters. Messages like ‘Hey how are you’, ‘I love CryptoChanger’ etc. are lovely but won’t work, unfortunately.
- Other internal errors. Even our well-made system can lag or experience internal issues.
What does 'Not yet redeemed' mean?
In the DASH, DOGE or other Bitcoin based blockchains, you may see the status of your transaction as ‘Not yet redeemed’. It means that your transaction is complete, but it hasn’t been used as input for another transaction. In other words, your coins are received, but you haven’t spent it yet. You need to update and sync your wallet in order to see the coins reflected in your wallet.
What is a memo?
A memo is a combination of digits and letters required to assign STEEM to a certain Steem wallet user. Memos are used in Steem wallets and indicated right here: 397829504658
What is a destination tag?
Each payment can specify a source and destination tag. These tags facilitate identifying the purpose of payments and allow a single address to be utilized by multiple users. Additionally, these tags enable the return of payments.
What is a message?
A message is an additional tag required for XEM transactions. Whenever you send or receive XEM, make sure that you input a message. You can find the message in your wallet.
What is a payment id?
Payment ID is generated on the crypto exchange where you want to send the money. You should check your exchange account to find it.
What currencies does CryptoChanger accept?
At the moment we support deposit in more than 70 cryptocurrencies only. We do not accept fiat currencies.