It is no secret that 2018 has become a harsh year for the crypto market. Bright expectations faded away with the Bitcoin price going down from $19,909 to $7,099 in just one month at the very beginning of the year. But the blockchain industry didn’t lose the momentum and lots of developments meant to boost crypto adoption have been made. A huge role in pushing the crypto mass adoption forward played instant exchange services and crypto payment gateways.
Why Quantity has a Quality all its Own?
The Cambridge Centre for Alternative Finance (CCAF) recently published a report which says that the number of verified users of cryptocurrencies almost doubled in the first three quarters of the year, rising from 18 million to 35 million users.
These figures are crucial for the whole crypto community as they indicate the rising interest of the public to go in for crypto. Even when the market is going down, the community interest grows. This could show the way out of the bearish market and point out the development direction for the whole industry.
Cooperation as a Key to Success
What catalyzes mass-adoption of something new and innovative, let’s say cryptocurrency? The answer is — bringing it (crypto) into something familiar, that has been mass-adopted already.
That is exactly how Changelly contributes to cryptocurrency mass-adoption by bringing the crypto-payment option to one of the biggest payment gateway CoinPayments. And here is where all the magic of mass adoption begins. Thanks to this cooperation now users have the opportunity to buy goods from thousands of stores with more than 100 cryptocurrencies.
“2018 was harsh for the crypto market — it has lost more than 700 billion of capitalization, however, the number of people involved in the blockchain industry has grown. Now when world crypto-community is becoming the most valuable asset of the industry, it is crucial for us to justify people’s credibility. Together with CoinPayments Changelly team is happy to contribute to the mass adoption of cryptocurrency.” — Changelly CEO, Ilya Bere admits.
“… On our end, where we are as a company (on the payment processing side), our volume is growing and our transactions per month are also growing, even though the market is slumping. This tells me that adoption is growing. Usage of cryptocurrencies as a payment continues to grow worldwide, which makes me very excited.” — Alex Alexandrov, CEO of CoinPayments addressing the ongoing topic of “mass adoption” on Bad Crypto Podcast.
Easy to Buy, Easy to Sell
The process of buying is smooth and simple. All a customer needs to do is to go to CoinPayments Store Directory, choose a store to his/her taste, pick a product and buy it with a crypto asset. There is no need to visit a third party website to exchange one crypto for another as Changelly’s API, integrated into CoinPayments, allows merchants to accept a good variety of tokens and coins.
Moreover, CoinPayments and Changelly provide a handy tool not only for those who want to buy something for crypto but also for those who want to sell something for it. Shopping Cart plug-ins, Point of Sale interfaces, Donation and Shopping Card Buttons — merchants of all sizes are welcome to use these instruments.
Earn without Market Volatility
Changelly’s conversion capabilities enable CoinPayments auto-sweep functionality on the platform, giving merchants the ability to settle all of their incoming transactions into a stable, non-volatile coin (such as USDT, GUSD or TUSD), thus minimizing risk due to market volatility.
Despite what we saw on the crypto market last month, the blockchain industry is up to the mark. The key to making things even better and to recovering of the market is the mass adoption. Without millions of people using cryptos every day, it will be almost impossible to keep the industry afloat. The silver lining is that mass adoption is almost there. Especially, when companies like Changelly and CoinPayments partner up in their will to provide users with the best tools for everyday usage of crypto.
For most people, the word “blockchain” is closely associated with cryptocurrencies and the world of digital finance. Indeed, since the appearance of the Bitcoin whitepaper in 2010, over the past 8 years, thousands of cryptocurrencies have appeared, thousands of whitepapers have been written, dozens of crypto exchanges have been created that allow anyone to enter the crypto market. However, cryptocurrency instead is just a measure in the blockchain industry. If to talk about blockchain technologies more globally, today we can safely admit that its usage has long gone beyond the financial sector. The range of blockchain-based applications is expanding every day. Centralized institutions begin to realize how blockchain can improve areas and industries that, at first glance, have nothing to do with the world of crypto technologies. One of such areas is charity, which is the main subject of discussion in today’s material.
Why Blockchain-based Donations
According to the corruption level of many centralized authorities, blockchain technology comes to the rescue. Now that people had enough of rolling on a volatility roller coaster of the crypto market, it’s time to think about the real benefits we can bring to society and our entire planet with the help of blockchain. To date, there are countries that have already adopted cryptocurrency for the purpose of decreasing taxes for benefactors. Thus, in this range of countries, cryptocurrency donations are as legal as fiat. The obvious advantage of blockchain technology is that it eliminates data theft or fraud. The blockchain is primarily designed to eliminate corruption and non-transparency from areas that are difficult to control due to a large number of participants.
The other serious argument for blockchain donations is the ability for benefactors to track the donation life-cycle. In other words, whether a person donated $10 or $10000 in cryptocurrency equivalent, he or she can monitor the routing of funds from the moment of donation creating until it reaches the destination address.
Blockchain can completely change the principles of charitable platforms, allowing NPOs (non-profit organizations) not to waste energy on accounting, but to provide real help to those who need and restore donors’ credibility about how their money is being spent.
Proven Charity Cases
A high level of social responsibility, large amounts of money, complicated bookkeeping, and work with documentation — all this complicates the activities of any organization. Therefore, many charitable foundations around the world have already adopted the blockchain and achieved their first results:
The Internet Archive is a non-profit with a huge mission: “Universal Access to All Knowledge”. Based in San Francisco, CA, with servers and bookscanners around the world, the Internet Archive building the digital library of the future — a place where anyone can access the books, web pages, audio, television, and software of our shared human experience, forever. For free. To date, the Internet Archive has fixed more than 6 million broken links on Wikipedia using the archives of the Wayback Machine. You can Donate to the project in Bitcoin, Bitcoin Cash, Ethereum and Z cash. And if you don’t have the listed crypto assets that is not a problem, as you can choose the “Donate with Altcoins” button and exchange any crypto or even fiat for BTC in just a few clicks using Changelly built-in exchange widget.
“We’ve been accepting Bitcoin since 2011. Last year over 30% of our donations came from cryptocurrency.” — says Katie Barrett, development manager from Internet Archive, — “I believe that the ability to donate with all kinds of altcoins provided by Changelly will allow us to expand.”
Blockchain Charity Foundation (BCF) is a not-for-profit organization dedicated to the advancement of blockchain-enabled philanthropy towards achieving global sustainable development. BCF aims to transform philanthropy by developing the world’s first decentralized charity foundation to build a future where blockchain technology can be used to end all forms of poverty and inequality, advance sustainable development and ensure that no one is left behind. The foundation is initiated by Binance — the world’s largest cryptocurrency exchange by trading volume, headed by Helen Hai, UNIDO goodwill ambassador, with Marie-Louise Coleiro Preca, President of Malta as the Chair of its senior advisory board.
The British blockchain platform Alice.si is a social tool, that allows charitable organizations to increase donations and at the same time demonstrate the impact of donors by letting them monitor where their money actually went. In the title Alice.si the “si” abbreviature means social impact. Using Ethereum-based smart contracts, Alice.si freezes donations until charitable organizations can demonstrate concrete results that are verified and confirmed by an independent third party, which means that the donation is guaranteed to reach its goal. If not, the money gets returned to the donor.
“A lot of non-profits are doing great work, but need easier, more immediate ways to feed their impact back to donors, and our tool is one way for them to do that,” — said Raphaël Mazet, CEO of Alice.si, in the interview for CNN.
In 2013, American Connie Gallippi founded BitGive, which became the first registered NGO using bitcoins for a donation procedure. The user directing the cryptocurrency to charity can monitor in real time how it is used.
Code to Inspire (CTI) was established in Afghanistan in 2015. The Foundation organizes classrooms for Afghan women who are interested in educating programming and online business. CTI opened the first school in Herat, Afghanistan, and trained approximately 50 women daily. Since its inception, the organization has achieved significant results — hundreds of Afghan women have received technical education.
The Common Collection is a Canadian organization that uses Bitcoin donations to help refugees and people in need. Many of the individuals listed on the Common Collection website have suffered from the effects of natural disasters.
The Obstacles to Crypto-charity
The biggest obstacle of blockchain-based charity, as well as the whole crypto industry, is the lack of cryptocurrency mass-adoption and the need for convenient laws and regulations in this area. That is the reason why so few charity organizations are ready to receive donations in crypto to date.
The other valid point that prevents charity authorities from adopting blockchain as well as preventing donors from contributing funds is lack of knowledge in the field of blockchain.
The blockchain is at about the same level as was the Internet in the year ’95. It is evident that mass adoption of the World Wide Web was not achieved in 1995 yet, though there has already been a lot of hype around the Internet at that time.
People have already heard a lot about blockchain, they can imagine the overall picture of what blockchain and cryptocurrency are all about. However, they still need more convenient instruments to enter the market and more understanding of the subject.
The Promising Statistics
Though blockchain mass adoption hasn’t come yet and, unfortunately, to date, there’s still lack of statistics on charitable crypto, those available numbers of cryptocurrency that has already been contributed to charity aims are encouraging.
One of the most extraordinary charity cases that merit attention is Pineapple Fund, which started as an experiment in philanthropy with cryptocurrency wealth. The project was launched in December 2017 by an anonymous donor, whose crypto funds worth 5104 BTC, timed with the 2017 crypto bubble, turned into $55 million for 60 charities.
How to Donate
Another tricky thing preventing many people from making donations in crypto is that many of them don’t actually know how to implement such kind of donations.
If you think that blockchain in charity worth existing, all you have to do is follow a range of simple steps to make your first and hopefully not the last crypto-donation:
First, you need to get yourself a crypto wallet where you will store your crypto later. Here’s the article about some worthy multi-currency wallets.
The easiest way to get yourself some crypto is to buy it for fiat with a credit card using special tools which are created to simplify the whole process of entering the crypto world for a newbie.
Now that you already have a wallet with some crypto-asset in it just choose a Charity blockchain-based organization you truly believe in and open the donation section on their website. Usually, you will have to copy the bitcoin address where to donate and send your funds for charity purpose to that address.
After the sending, you can monitor the ‘donation-life-cycle’ to be sure your contribution is used properly.
However, what to do if you already have crypto you want to donate, but it doesn’t match the crypto accepted by the charity fund? The best option, in this case, is to exchange your crypto asset for the needed one in just a few minutes using instant cryptocurrency exchange service.
Let’s say you have some XRP, but the charity foundation accepts donations only in BTC. Thus, you need to exchange your XRP for BTC. And the easier this process will be — the better.
Open Changelly service main page, set the amount of XRP you want to donate. Choose BTC as the final asset. You will see the estimated amount of BTC you get after the exchange. Click the exchange button.
You will be redirected to the exchange page. The whole process consists of 5 steps and will take from 5 to 30 minutes of your time.
Now that BTC transferred into your crypto wallet, you can use it for the donation purposes!
In the digital age, every crypto enthusiast has the opportunity to take part in shaping the future we all dream of — a future where a person does not depend on centralized bank institutions and can freely dispose of his funds for both: personal and charitable purposes, along with the ability to see how these funds work for the benefit of those who are in need.
On the first working week we at Changelly are glad to announce our work on the new blockchain project — Tezos — a self-amending blockchain network which incorporates a formal, on-chain mechanism for proposing, selecting, testing, and activating protocol upgrades without the need to hard fork. XTZ, Tezos native token is already available for exchange on Changelly. To go a bit deeper into the Tezos philosophy read the article below.
It’s Baking Time
Baking for Tezos is very similar to mining for Bitcoin. While in the Bitcoin network, the right to publish a block is related to the solution of the proof-of-work (PoW) tasks, Tezos uses a proof-of-stake or PoS algorithm. Its block makers are called “bakers,” and the baking process itself is, in fact, block validation. The right to publish a block in Tezos can be compared to a victory in the blockchain lottery. The chances of a baker winning are proportional to the number of XTZ tokens belonging to him, plus the number of XTZ delegated to him by other Tezos users. After baking, the block must approve 32 nodes of approval, endorsement.
Tezos team focused on “baking” a blockchain that can change and adapt through community consensus with as little network disruption as possible. The protocol achieves this through two mechanisms: internal management (the user suggests changing the code, the owners of the nodes decide whether to accept the update or not — if 80% agree, the code automatically changes) and the self-correcting system. Internal management democratizes making decisions about protocol changes, while the self-correction system allows Tezos to make changes without hard fork (dividing the network into two blockchains). To get a deeper understanding of Tezos working principles read this article. Below is the visualized version of Tezos governance mechanism:
How to exchange Tezos (XTZ) on Changelly - YouTube
The Power of Community
Another distinguishing feature of Tezos is the cohesion of its community, which is entirely expected, given the fact that community members themselves can bring changes to the blockchain without the need of its split. It is the Tezos community that is the strength and trump of its network. Here’s what Tesos-enthusiasts write about the company they believe in.
What is your favorite positive crypto development from 2018? We are crowdsourcing our year-end @TheBlock__ update!
« The goal of shielding a transaction is to provide verifiable proof that the transaction took place without divulging any information about the transaction, such as the associated accounts, balances, or amount of the transaction. » #Tezos#Crypto#ZCashhttps://t.co/SLFxV1meXR
Onward and upward! These’re the keywords for the article we want to introduce you beneath!
Changelly is a popular instant exchange platform that allows to swap over 200+ cryptocurrencies and purchase them with a bank card!
Operating since 2015, Changelly has attracted over 2M registered users from around the world. Currently, the service has the monthly turnover of around 60K BTC!
But let’s follow the way how Changelly project was growing and gaining the trust of customers on the crypto space. Let us tell you more about all the great features that make our users happy and how have we started!
That’s what we have achieved for the first 1 year of our work.
1st Year – Gained Trust of 100 000 Customers
During our 1st year work, Changelly reached more than 100 000 active users all over the world. Stats have shown that once used Changelly, users come back. We try our best to provide good customer service, profitable rates and low entrance barrier. Back that time, we supported over 30 cryptocurrencies available to convert into each other and buy for USD/EURO. We still charge the lowest commission fee and guarantee the best cryptocurrency rates on the market.
There are myriads of blockchain startups on the fast growing cryptocurrency market. But only a few of them are truly breaking through.
Changelly has selected and partnered with the most prospective projects that provide ultimate solutions based on blockchain.
Our API is integrated in large wallet platforms, such as the official NEM/XEM wallet, Coinpayments, Freewallet etc. A user may top up all these wallets with any coin.
Also Changelly supported initial coin offerings (ICO) of such well-known platforms as DECENT and Wings.
Changelly has listed 10 new high demanded cryptocurrencies including NavCoin and Waves, Steem, XEM, ethereum tokens: Augur, Golem, Swarm, Zcash, Stratis,Gulden. Labour hour tokens of Chronobank are coming up.
Created Dream Team with Charlie Shrem
Starting small, with a tiny team of 5 members, in only 1 year Changelly has increased the number of employees to 15. One of those is Charlie Shrem himself!
Charlie is the most well-known person in the bitcoin community (at least, Wikipedia says :). Founder of Bitcoin Foundation has assured that Changelly is an instant cryptocurrency change to trust. Having inspired, Charlie became our business development adviser. We couldn’t be happier to get such a partner!
Made Interface Even Better
From the very beginning, Changelly was one of the kind providing the smoothest user interface. Now we made the exchange process way easier! We let you know about each step your transaction is on, so you don’t need to worry about your funds anymore. Also, now we’ve been providing step hints that help you out with creating a transaction properly. No more lost destination tags and missing messages!
Keep thinking big
We won’t stop there as keep constantly looking for revolutionary things to be integrated into. Changelly provides an API and widgets for merchants, wallets, trading platforms and other blockchain projects. Feels like we’ll have a fruitful partnership? Contact firstname.lastname@example.org and suggest your ideas!
Thanks to our customers and partners for making us better!
The crypto industry as a whole is full of techy and complicated things that may confuse you. Some of the 200+ currencies we support require different measures to take before exchanging them. Over 70% stuck transactions happen due to the negligence of these measures. We will take a closer look at common mistakes happening during the exchange process and sort out the possible aftermath. Let’s look into issues occurring with XRP destination tags, NEM’s messages and memos in Steem, Stellar and Decent.
Destination Tags, Memos and Messages
If you’ve ever sent XRP, Steem, Stellar, Decent or XEM to Changelly, you are likely to know about Destination tags, Memos and Messages. These are short combinations of digits and letters that help us determine your payment and send exchanged money to a ‘recipient’s address’ you put in when creating a transaction. If they are specified incorrectly, your transaction may get stuck in Limbo or go to another Changelly user.
Destination tag is used in XRP transactions. It is the most tricky thing you should be extremely careful with. If you send XRP to Changelly, you should specify a destination tag when sending. The generated tag is tied to the recipient’s address, so that Changelly automatically sends money to that address, once it gets confirmation from the blockchain. If you mix up digits in the tag or put in a random combination, you may encounter quite frustrating issues. Your money will be sent to Changelly, but your transaction won’t go through due to the error, and you will have to contact our support team and ask them to process your transaction manually. Another, and the worst, the scenario is that you may occasionally send your XRP to an unknown person whose recipient’s address is already tied to the tag you specified. In this case, we can’t help you out.
John is about to exchange XRP to Bitcoin. Let’s say his transaction is already created and he should send us XRP to exchange them. He sees a screen below:
John opens his wallet app, puts in our wallet address. And then, when putting in the destination tag, John is like: ”Ah, whatever, I’ll put 12345 instead! Anyway, it’s still Changelly’s address. The tag is unnecessary stuff.”
This is the very moment John makes a terrible mistake because 12345 is the tag tied to a wallet address of another Changelly user who is obviously not John! Once XRP is sent it will go to the wallet address provided by that user, and John will lose his money forever! The worst thing is that we can’t help John in this case, since we don’t control funds sent to our customers.
Poor John. Don’t be like him and always send XRP with a correct destination tag. Only in this case, your transaction will pass through in the right way.
The NEM’s message as such is quite confusing. While sending XEM to Changelly, some of the users omit it or take too literally sending something like ‘I love Changelly’, ‘Greetings from Germany’ or ‘This is my first salary’. Instead, the NEM’s message represents a combination of letters and digits shorter than a wallet and works the same way as XRP destination tag. If you omit it or specify incorrectly, your transaction will not pass through. You will have to send to our support team a request so that we can process your stuck transaction manually.
This is how the message looks like.
Don’t omit it, don’t confuse it, and you’ll always get your transaction done.
The Memo is unique supplementary information used in transactions with a range of cryptos listed on Changelly, such as Stellar, Steem and Decent. Although Memo works similarly in all these platforms, it is important to mention that they utilize different algorithms. For all of them, entering the Memo is a mandatory measure. When sending either, you must indicate your memo, so that our machine will know that the transaction comes from you. If the memo is omitted or incorrect… well, now you know the outcome. Changelly will have to process your transaction in a correct way. It requires you to report us about the issue.
Stellar memos look like the combination below. So do memos of Steem and Decent.
Please bear in mind that the screenshots above are just an example. All Destination tags, Messages and Memos are unique for each our user. Never use the given examples for your own transactions.
Recipient’s addresses of XRP, NEM, and Stellar
Similarly, when buying XRP, NEM, Stellar, Steem or Decent on Changelly, make sure if you need to input either a Destination tag, Memo or Message to receive your coins to a recipient’s wallet. Always provide this information, if required. Otherwise, your money will be sent as an unassigned transaction to your wallet provider, and you will have to contact their support team trying hard to prove that the transaction belongs to you.
Have any questions? Feel free to ask us at email@example.com
Bitcoin Cash appeared occasionally as the Bitcoin fork. It was launched on August 1st and made a great noise ever since. For all those who want to exchange their BCH and buy the original currency that keeps skyrocketing, here is our step-by-step guide.
1. So you’re on the homepage. Choose the amount of BTC you wanna exchange. On the right you see the estimated BTC rate. Press ‘Exchange!’
2. Check the information. Change it, if needed, and proceed to the next step.
3. Specify your BCH wallet where you want your funds to be sent to. If you still don’t have one, learn how to choose the best.
4. Check attentively all information you’ve entered. Note that the amount in field ‘You get’ is estimated which means it remains volatile while the exchange process. Confirm and make payment only in case you agree with it.
5. Send your coins to the address below in one transaction. To do it, copy the address or scan the QR-code with your wallet app. Also please take into account, that you have 24 hours to send your funds, otherwise the transaction will be cancelled automatically.
6. Go to your BTC wallet and paste the address into the corresponding field.
7. Almost done! Wait until the transaction is finished.
8. Here you go! The transaction is completed, and now you can check your ZEC wallet. Note that although the transaction is finished, in some cases your wallet needs for additional confirmations to display your received funds. All you should to is to wait until your finds are displayed.
Bitcoin Cash, Bitcoin ABC, BCC, BCH, BTCC, Bcash – all is the same. The currency locked in on August 1st, making a great noise ever since. Many of cryptocurrency users still cannot tell the difference between two coins. In this article, we are about to explain what Bcash stands for and what the buzz is all about?
In order to increase the blockchain scalability, the Bitcoin community decided to initiate SegWit2x, a mandatory blockchain update requiring over 95 % of miners to support. At the same time, 1% of total number of miners declined the update and separated into another Bitcoin fork named Bitcoin ABC starting at a zero block. Now the currency with its own updates functions in parallel with original Bitcoin.
What it represents?
Basically, Bcash is a replicated and slightly modified Bitcoin blockchain with the same history containing all previous Bitcoin transactions. The Bcash blockchain has blocks increased up to 8 megabytes which, in theory, make transactions process faster. In fact, currently the block mining remains slow, so the processing time may take several hours. The main difference is that all future transactions are considered as separated and the blockchain has a record that all the Bitcoin owners received a relevant amount of Bcash. Unlike many Bitcoin copycats created from scratch, Bcash is based on the Bitcoin core blockchain. The coin attracted a lot of attention by giving literally free money to Bitcoin owners. Another smart move that made Bcash so prominent is that the coin has been launched exactly by the time of the hard fork. These two factors heat discussions that increase the demand for the currency.
However, being largely discussed and hyped, Bitcoin Cash has suddenly fallen. It is believed to have new potential and advantages over Bitcoin including improved scalability. Currently, the coin is trading at around $305, a coin. Chances are, its rate may increase, provided that it will be competently promoted and supported by large cryptocurrency services.
Who support Bitcoin Cash?
Although Bitcoin Cash causes controversies in crypto community, there are many wallets and exchanges that support it.
Not only crypto services but also banks gradually include coins to sell them to customers. For example, Falcon Private Bank already offers Bitcoin Cash to buy and hold.
What about Bitcoin?
After Bcash separation, Bitcoin rates skyrocketed to record figures of $4500 for 1 BTC which is far beyond an ounce of gold. The rates started rising most likely due BCH being massively exchanging to BTC. The rate boost causes special interest among investors that also influences its behavior on the market and seems to be unpredictable.