ChangeHero Zero Confirmations: Fast Crypto Exchange

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Crypto as a young industry is still figuring out the ways to reach wide user adoption. The key to this might be ease of use and reliability. Trying to guess how to buy crypto fast, a user may go to a crypto exchange. But traditional exchanges are not exactly suited for fast crypto exchange: before even starting trading, a user needs to create an account, go through a KYC (identification) procedure and make a deposit. This is why instant crypto exchanges such as ChangeHero came to be, as a simplified and more accessible version which provides a fast crypto exchange experience. Besides, these platforms are the best way to exchange Bitcoin fast! But finding the best crypto exchange for that is still an issue in itself. Let us explain how one of our features, zero-confirmation option, makes us a worthy pick.

Why is Zero-Confirmation Option Useful?

Making a card payment on a computer — Source: @rupixen on Unsplash

To reach worldwide adoption, crypto services also have to offer a user experience similar or better than modern online shopping does. As there are thousands of coins these days, a fast crypto exchange would be as important in the ecosystem as an instant cryptocurrency payment gateway.

Speaking of more short-term goals, cryptocurrencies at the moment are extremely volatile, so performing a crypto exchange fast is also vital. Most instant exchanges now take dozens of minutes to process a swap, and the rates may change even in such a short period of time. As a result, you may miss a profitable opportunity. Users might ask themselves, how to buy crypto fast, then? This is why ChangeHero introduced zero-confirmation service to the platform to solve this.

How Does It Work?

Crypto is the industry at the cutting edge of fintech. As a result, the issue of how to buy crypto fast can be solved with sophisticated mechanisms.

For starters, for a transaction to be recorded on a blockchain, a certain number of block confirmations from miners or validators is necessary. It takes time but in the end, the transaction is recorded in the blockchain immutably. To make crypto exchange fast, special services that analyze the transaction parameters use machine learning to understand if a transaction is going to be included in the next block.

ChangeHero is offering the users fast crypto exchange experience. By eliminating the need to wait for the funds to arrive at our deposit address, we perform a swap even before an incoming transaction has arrived. This can save a lot of time, because in Bitcoin and its forks, for example, a target block time is 10 minutes. It means that for a transfer just to become visible on the blockchain, it can take up to 10 minutes, and this does not guarantee that a block will not be orphaned yet. ChangeHero offers a way to overcome this.

Which Pairs are Supported?

At the moment, only the most popular currencies support this feature on ChangeHero. Over time, though, we plan to include more opportunities for fast crypto exchange.

Let’s take Bitcoin for example. How to make a Bitcoin exchange fast, when the network is busy, and for a transaction to even leave the mempool, dozens of minutes are required? Since the transfer is already there, an assessment of whether it will be included in the next block can be made. Thus, the whole waiting process can be circumvented, which can make a Bitcoin exchange fast. Same goes for other currencies, which makes ChangeHero a truly instant service, and a really fast crypto exchange in comparison with the other players or exchanges.

How the Users Benefit?

A person holding a wrist watch — Source: @saffu on Unsplash

Why exactly using such technology can make for the best crypto exchange experience?

ChangeHero is the best crypto exchange in terms of speed. On average, the transactions take less than twelve minutes to process wholly, and about a third of those take less than 5 minutes, according to our stats;
ChangeHero is more reliable. The exchange result is less prone to volatility;
Think of all the time that is saved!
By keeping the crypto exchange fast, ChangeHero gives users more opportunities to make a trade for the actual price.

Conclusion

If you were asking yourself how to buy crypto fast, look no further. On ChangeHero, thanks to the Zero-Confirmation feature, you can make a truly fast Bitcoin exchange (and swap other currencies in a few minutes, of course!). We are always working on delivering great and fast crypto exchange experience to every user of the platform. You can always keep up with our progress by subscribing to our blog and social media handles: Twitter, Facebook, Reddit and Telegram.