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NOW Token

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This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is NOW Token?

The ChangeNOW Token (NOW) is a hybrid-network utility token introduced by ChangeNOW, a leading instant crypto swap service. It serves as an internal currency for various products within the NOW ecosystem, including asset listing fees, staking, and cashback rewards. NOW Token is available on multiple blockchain networks, including Ethereum (ERC20) and Binance Smart Chain (BEP2), and can be staked to earn up to 12.5% yearly ROI. The token is designed to provide utility and value to users and businesses, with regular quarterly burns to increase its value.

How is NOW Token used?

The NOW Token (NOW) is the native digital asset of the ChangeNOW ecosystem. It serves as a utility token, offering various benefits and use cases within the platform. Here are some key ways the NOW Token is used:

  1. Payment for Asset Listing Fees: NOW Token is used to pay for asset listing fees on the ChangeNOW platform.

  2. Staking: Users can stake NOW Tokens to earn up to 6.25% annual revenue. The longer the stake is held, the greater the rewards.

  3. Cashback: Users can receive cashback in NOW Tokens when using ChangeNOW and NOW Wallet services.

  1. Accelerated Support: NOW Token holders receive accelerated support for various ChangeNOW products and services.

  2. Participation in Giveaways: NOW Token users can participate in giveaways and win prizes.

  3. Unlimited Opportunities: NOW Token holders can access special offers and benefits across the ChangeNOW ecosystem, including 24/7 support, best rates, and fixed-rate and standard flows.

  1. Swapping: NOW Tokens can be swapped on the ChangeNOW platform for other cryptocurrencies or between networks such as ERC20 and BEP20.

  2. Payment Gateway: NOWPayments, a crypto payment gateway, allows merchants to accept NOW Token payments and donations, providing a convenient way to integrate crypto payments into their businesses.

These use cases highlight the versatility and utility of the NOW Token within the ChangeNOW ecosystem.

How do I store NOW Token?

To store NOW Token (NOW) tokens, you have several options:

  1. Hot Wallets: You can store NOW tokens in hot wallets, which are online wallets that allow quick and easy access to your crypto assets. Hot wallets are provided by exchanges like ChangeNOW and Uniswap, as well as third-party wallets like NOW Wallet, Guarda, Trust, Zelcore, Trustee, Edge, and D’Cent. To set up a hot wallet, you need to create an account, complete the know-your-customer (KYC) requirements, and deposit your NOW tokens.

  2. Paper Wallets: For offline storage, you can use paper wallets. Paper wallets are low-tech options that involve generating private and public keys and printing them out. This method is more secure but less convenient for frequent transactions.

  3. Cold Storage: For large amounts of NOW tokens, you can use cold storage methods like hardware wallets, which are highly secure offline storage devices.

  1. NOW Wallet: The NOW Wallet, specifically designed for NOW tokens, offers staking and cashback features. You can earn up to 6.25% ROI yearly by staking your NOW tokens in this wallet.

  2. NOWPayments: NOWPayments is a crypto payment gateway that allows merchants to accept NOW tokens as payment. It integrates with various tools and provides a convenient way to process crypto transactions.

Regardless of the storage method you choose, ensure you follow the necessary security measures to protect your private keys and keep your NOW tokens safe.

How to buy NOW Token?

To buy NOW Token (NOW) tokens, follow these steps:

  1. Find a Reliable Centralized Exchange: Look for a trusted centralized exchange where NOW Token is listed. You can refer to CoinMarketCap to find the list of exchanges that support NOW Token.

  2. Set Up a Crypto Wallet: Download and set up a crypto wallet like Trust Wallet, which supports the Ethereum network. Ensure you keep your seed phrase safe and note your wallet address.

  3. Buy ETH as Base Currency: Buy Ethereum (ETH) as your base currency on a platform like Binance. If you are new to Binance, refer to their guide on buying your first cryptocurrency.

  1. Transfer ETH to Your Wallet: Transfer the purchased ETH from Binance to your Trust Wallet. Make sure to set the network to Ethereum and provide your wallet address.

  2. Choose a Decentralized Exchange (DEX): Select a DEX that supports your wallet, such as 1inch. Connect your Trust Wallet to the DEX using your wallet address.

  3. Trade ETH for NOW Token: On the DEX, select ETH as the payment and NOW Token as the coin you want to acquire. If NOW Token does not appear, find its smart contract address on Etherscan and paste it into the DEX.

  1. Complete the Swap: Once you have set up the trade, click the Swap button to complete the transaction. Be cautious of scams and ensure you have the official contract address.

Remember to carefully consider your investment experience, financial situation, investment objectives, and risk tolerance before making any investment decisions. Cryptocurrency prices are subject to high market risk and price volatility.

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History of NOW Token

The NOW Token, introduced by ChangeNOW, is the native digital asset of the instant exchange platform. It serves as an internal currency for various products within the NOW ecosystem. The token is used for payment of asset listing fees on ChangeNOW and is also a stakeable token, allowing users to earn up to 6.25% ROI yearly by staking in NOW Wallet.

The token has seen significant price gains, with over 80% growth in the last year, making it the only top coin to test its historical high during the same period. The all-time high for the NOW Token was recorded on September 15, 2020, at $0.4324, while the all-time low was on June 24, 2020, at $0.0007746.

The token is listed on several popular exchanges, including ChangeNOW and Uniswap, and is supported by various wallets such as NOW Wallet, Guarda, Trust, and others. The token is also available on multiple networks, including Binance Smart Chain, Polygon, and TRON, with plans for further expansion.

ChangeNOW conducts regular quarterly token burns to increase the value of each token, and the vesting plan for the token involves releasing a certain percentage of tokens to team members and advisors over time to prevent market price drops.

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How NOW Token works

The NOW Token (NOW) is the native cryptocurrency of the ChangeNOW platform, a non-custodial instant exchange service. It operates on two networks simultaneously: Ethereum (ERC20 Standard) and Binance Chain (BEP2 Standard). This allows users to swap NOW tokens between these networks without fees, ensuring flexibility and convenience.

Key Features and Uses
  1. Internal Currency: NOW tokens serve as the internal currency for all products within the NOW ecosystem. They provide users with additional perks such as better exchange rates, faster customer support, special offers, and voting rights for asset listings.

  2. Staking and Rewards: Users can stake NOW tokens to earn up to 6.25% annual ROI. The longer the stake is held, the larger the reward. Staking amounts can be increased at any time without losing the multiplier.

  3. Token Burns: ChangeNOW conducts quarterly token burns to increase the value of each token. The tokens burned are those received for ChangeNOW services, and the burn dates and amounts are announced in advance.

  1. Multi-Chain Support: NOW tokens exist on both Ethereum and Binance Chain, allowing for seamless swaps between these networks. This feature enhances the token's usability and accessibility.

  2. Payment Gateway: NOW tokens can be accepted as payments and donations through the NOWPayments gateway. This service provides merchants with tools to implement crypto payments on their websites and stores.

  3. Listing and Storage: NOW tokens are listed on several popular exchanges, including ChangeNOW and Uniswap. They can be stored in various wallets, such as NOW Wallet, Guarda, Trust, and Ledger, depending on the network they are on.

Allocation and Vesting

The total supply of NOW tokens is 200 million, divided equally between Ethereum and Binance Chain. The allocation is as follows:

  • 30% for gradual airdrop to exchange users and affiliates
  • 10% for private investors
  • 12% for project advisors and evangelists
  • 12% for the reserve fund for project developers
  • 12% for the reserve fund for project marketing
  • 10% for the reserve fund for risk prevention
  • 14% for the founding team bonus

The vesting plan ensures that team members and advisors receive their tokens over time, preventing a sudden dump on the market that could impact the token's value.

Overall Functionality

The NOW Token is designed to enhance the user experience within the ChangeNOW ecosystem. Its multi-chain support, staking rewards, and token burns work together to create a robust and deflationary token economy.

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NOW Token's strengths

The token NOW Token (NOW) has several strengths that make it an attractive option for investors and users within the ChangeNOW ecosystem:

  1. Progressive Rewards: NOW Token offers a progressive reward system for staking, where the longer you hold the stake, the greater the rewards. This incentivizes long-term investment and encourages users to hold their tokens for extended periods.

  2. Dual Chain Operation: NOW Token operates on both the Ethereum and Binance Smart Chain, allowing for fast and secure transactions. This dual chain functionality also enables users to switch between chains freely, enhancing the token's versatility.

  3. Staking Flexibility: Users can stake from 10 to 100,000 NOW tokens, providing a wide range of investment options. Additionally, the staking amount can be increased at any time without losing the multiplier, giving users full control over their investments.

  1. Quarterly Burns: The token undergoes quarterly burns, which help to reduce the total supply and increase the value of each token. This mechanism can lead to a more stable and appreciating token value over time.

  2. Wide Use Cases: NOW Token is integrated into various products and services within the ChangeNOW ecosystem, including NOW Wallet, Lightning NOW, NOWNodes, NOWPayments, and NOWTracker. This broadens its utility and potential for adoption.

  3. Strong Development Team: The team behind NOW Token has extensive experience in the cryptocurrency space, ensuring that the token is well-maintained and continually updated with new features and use cases.

These strengths collectively contribute to the token's value and potential for growth within the cryptocurrency market.

NOW Token's risks

The financial risks associated with NOW Token (NOW) include:

  1. High Price Volatility: The value of NOW Token is highly volatile due to market forces of supply and demand, making it more susceptible to significant price fluctuations compared to traditional fiat currencies and commodities.

  2. Legal Risks: The legality of NOW Token transactions, trading, and possession may not be clear and may vary under different jurisdictions, which could impact its value and usability.

  3. Limited Supervision: NOW Token operates in largely unregulated markets, which means there is no centralized authority to protect its value or adjust its supply in times of crisis.

  1. Irreversible Transactions: Due to the decentralized nature of NOW Token, transactions are irreversible, which means that any errors or losses cannot be recovered.

  2. Risk of Forks: The blockchain networks on which NOW Token operates may temporarily or permanently fork, potentially affecting the token's viability or value.

  3. Dependence on Internet: NOW Token transactions rely on internet connectivity, which can be affected by hardware and software failures, leading to potential losses.

These risks highlight the importance of careful consideration and thorough understanding before investing in NOW Token.

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NOW Token's ecosystem

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NOW Token’s team

  • NOW Token Team: The team behind the NOW Token has extensive experience in cryptocurrency. The vesting plan for key members accounts for 14% of the total supply, with tokens released in chunks over time.

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