A growing number of organizations are coming up with ways to make cryptocurrencies more accessible and mainstream to users. Joining the bandwagon is Change, an organization established in Singapore and headquartered in Estonia. The ‘customer first company’ Change was launched in 2016 with a funding of $200,000 by an angel investor.
Recently, Change introduced their mobile app known as ‘Change Wallet’ in a bid to simplify financial experiences. Change wallet allows users to make transactions in the wallet without a physical bank account.
All customers are required to have an account in the app to be able to trade between the currently supported Bitcoin [BTC], Ripple, Litecoin [LTC] and Tether [USDT], with zero commission fees involved.
Currently, cryptocurrency brokers demand a price that would go beyond an average of 5% of the transaction which is not an ideal scenario for customers wanting to deal in blockchain technology. Therefore, the zero commission feature is executed by the wallet.
The CEO of Change, Kristjan Kangro, in an interview with the BBC World News said:
“Cryptocurrencies will soon be used just as much as traditional currencies by the masses when paying for good and services.”
Roger Crook, the former CEO of DHL Global Forwarding, an angel investor, and an advisor in the blockchain disruption space among other things, with regards to this announcement, said:
“I’m backing this project because I think it’s got an extremely great future, and I see that Change is going to have challenges going forward. I have no doubt that this business is going to thrive and grow globally over the coming years.”
In their whitepaper, Change has explained at length their purpose in introducing the Change Wallet. The features of which are as listed below:
- Multi-currency wallet: Not only has Change included Bitcoin, Ether, Litecoin and Ripple to their list of cryptocurrencies [ERC20 and Change tokens to be introduced in the near future] but they are also allowing the sending, storing and receiving of fiat currencies like Euros and US Dollars.
- Mobile First – Change does not have any physical branches of their own because they believe in a mobile-only application accessible to anyone from anywhere around the world. This move will re-conceptualize the concept of traditional banking where customers are required to hold an account in a physical bank where transactions could be made.
- Converting currencies – The most important of all the features of this Bitcoin application is the fact that it bridges the existing gap between fiat currencies and cryptocurrencies as they will now come to exist in the same space. Currency conversions are now only a click away.
- Global onboarding – With the intention of reaching a worldwide audience who will be involved with the exchanging and buying of cryptocurrencies, they have made themselves accessible more than ever.
The app is presently available for download on Android and iOS devices for consumers living in the European Economic Area.
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