The well-known instant cryptocurrency exchange Changelly recently announced the addition of the BANKEX BKX token to its extensive list of supported cryptocurrencies.
Although the token has been available on trading markets since January 2018, until now no exchange allowed purchases in euros or US dollars using Visa and Mastercard credit cards.
The BKX token now joins more than 100 altcoins and tokens available on the Changelly exchange and can be traded against any of them. Users who wish to buy bitcoin with BKX or exchange bitcoin for BKX can do so by selecting the two cryptocurrencies in the appropriate fields on Changelly’s website.
Changelly has offered an instant exchange service for several years with one of the lowest fees in the sector: 0.5%. The fintech company reports a monthly trading volume equivalent to around 60,000 bitcoins and serves over two million active users worldwide.
How Changelly Works
Changelly is an instant exchange similar in concept to services like Coinbase, but it focuses on a simplified, immediate, and secure experience for the end user. No euro deposit is required on the platform, and users do not need to leave cryptocurrency on the exchange after a purchase.
Here is how the process works:
- Visit the Changelly website.
- Select euros in the first field and BKX in the second field.
- Click “Exchange!” to proceed.
- Sign in with Facebook, Twitter, or a Google account if required.
- Complete the purchase.
Remember that Changelly does not hold purchased coins or tokens in custody. Instead, it requires users to provide the address of their personal wallet to receive and store the digital assets. This approach is designed to increase security, keeping control of tokens with the customer rather than on central servers.
With this method, euros are sufficient to invest in cryptocurrencies. In a few clicks a user can, for example:
- buy Ethereum with a credit card;
- buy Bitcoin with a credit card;
- purchase XRP.
Impact of the News on BKX
The announcement did not produce an immediate, significant increase in the BKX token price, a result partly explained by the broader market conditions. At the moment, Bitcoin has been strengthening more than many other currencies, though with intermittent movements.
Over the long term, listing on Changelly is meaningful because customers can buy BANKEX directly with euros without relying on South Korean exchanges, where protections for foreign users can sometimes be limited.
What BANKEX BKX Is
BANKEX is a decentralized platform focused on capital markets, designed to provide custody, authentication, and collateralization services. It operates as a bank-as-a-service application that aims to transform various asset classes into digital assets while offering security, flexibility, and privacy.
The development team is working on implementing multiple types of smart assets, including tokenizing value in real estate, supporting water supply projects in Africa, and applications in e-commerce.