Digital assets are gaining popularity in the world. According to CryptoProGuide.com, as of August 28, 2022, the total capitalization of all cryptocurrencies was $1.008 trillion. Market participants use them for investment, trading, international transfers and other purposes. Also, digital currencies allow you to remain anonymous online. However, not everyone knows how to buy and sell them for fiat money. Often, online exchanges are used for this purpose. One such is PrideChange. It allows customers to exchange digital assets for fiat and vice versa. And users of the service remain anonymous.
PrideChange working conditions
The exchanger appeared in 2020, registered in Ukraine. By August 2022, it had more than 430 positive reviews from customers. Online exchanger PrideChange works from Monday to Saturday from 9:00 to 19:00 Moscow time. Sunday is a day off. All requests are automatically processed within 5-10 minutes.
The advantage of PrideChange is the absence of mandatory registration and verification. When making exchanges, users specify only their card number and e-mail address. E-mail is needed to send notifications about the status of transactions. But the exchanger reserves the right to demand documents from the client in case of suspicious actions on his part to prevent money laundering or fraud.
Available currencies and payment systems
The service offers customers a variety of exchange destinations. It supports banks in Russia and Ukraine, as well as major electronic payment systems. Full list:
- Russian banks – Sberbank, Alfa Bank, Tinkoff, Promsvyazbank, VTB24.
- Ukrainian banks – Privat24, Oshchadbank and Monobank.
- Payment systems – Yandex.Money.
In August 2022, PrideChange exchanger supported 4 cryptocurrencies: BTC, BNB, ETH and USDT (ERC-20 and TRC-20). Other altcoins are likely to appear in the future. The service also offers users a rare option – selling digital currencies for cash.
| Currency | Service availability (city) |
|---|---|
| RUB – Russian rubles | Moscow |
| USD – US dollars | Moscow, Kiev, Dubai |
| AED – UAE dirham | Dubai |
Commissions
PrideChange platform does not take commission directly. It is built into the conversion rate. For example: On August 28, 2022, the price of BTC on the Binance crypto exchange was $20.1 thousand (~ ₽1.217 million). If you sell 1 Bitcoin through PrideChange with money credited to Sberbank, the client will receive ₽1.216 million. The commission will be less than 0.1%.
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The amount of the fee depends on the direction of the exchange. For example, when selling bitcoins for USD cash, the commission will be up to 5.5%.
Loyalty program
PrideChange exchanger offers users to earn on invitations of new clients. Under the terms of the affiliate program, the referrer receives from 0.1 to 0.5% of the amount of profit from their exchanges. The percentage of income increases with the number of clients invited. To participate in the referral program, you will need to create an account. In your personal cabinet there will be a link, which should be used to register new users.
Tech support
The support works according to the schedule of the service. It is not available to users on Sunday. For August 2022, there are 3 ways to contact tech support:
- Online chat. There is a “Send us a message” box in the bottom right corner of the website. Here you can ask questions to the online exchange operators. Usually the response comes within a minute.
- Feedback form. PrideChange users have a separate tab “Contacts” where they can ask questions. In the form you need to enter your name and e-mail, and then describe the essence of your request. The answer will be sent to the specified e-mail.
- Telegram. You can also contact the technical support staff via messenger. It is enough to go to Telegram using the link on the site and ask a question in the chat.
How to sell cryptocurrency for rubles
The main task of the PrideChange platform is to provide tools for exchanging digital assets for fiat money and vice versa. As of August 2022, it was possible to sell cryptocurrency for RUB, USD, UAH, and AED. UAE dirhams are received only in the form of cash, and UAH are credited to Ukrainian bank cards. To sell coins for rubles, you need:
- Go to the site of the online exchanger.
- In the “Giving” field, select the cryptocurrency, and in the “Receiving” – the payment system or bank.
- Specify the number of coins.
- Click “Exchange”.
- Specify details (card or account number) and e-mail. After that they should be double-checked. The exchange service is not responsible for incorrectly specified details.
- Accept the user agreement and press “Next”. After that, the application will be created.
- Transfer the cryptocurrency to the proposed wallet address.
- Press “I paid”.
The system will automatically send the money after confirming the transfer in the blockchain. In the case of Bitcoin, funds will arrive within 30 minutes to the specified details. Other networks will process transactions even faster.
Exchange or exchanger
Another popular way to sell cryptocurrency for rubles is through trading platforms. But exchanges often adhere to the KYC/AML policy. It is introduced in order to combat money laundering. One of its tools is user verification. Each client of a major exchange is required to confirm his identity to access a certain part of the functions. And this contradicts the idea of the cryptocurrency market.
The advantage of exchanges is the ability to maintain anonymity. Most of them do not even require you to register. The only purpose of creating an account is to participate in the referral program. And verification will be required if there are suspicions of fraud.
Other ways to sell cryptocurrency for fiat
In addition to exchangers and exchanges, there are less popular methods of converting digital assets into money. Their comparison in the table below.
| Exchanges | Exchanges | Crypto-machines | Wallets | |
|---|---|---|---|---|
| Anonymity | ||||
| Convenience for beginners | ||||
| Referral programs | ||||
| Commission |
Summary
PrideChange exchanger deserves the attention of cryptocurrency market participants. It offers favorable exchange rates in most directions. The platform gives customers the opportunity to sell cryptocurrency for rubles and hryvnias. There is support for USD and AED. If necessary for digital assets, customers can get money in cash. It is enough to fill out an application on the website of the online exchanger.
In case of problems and questions, users can contact the support team. For this purpose, there are online chat, feedback form and Telegram. The first way is the fastest. Usually, operators respond within 1 minute.
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Author: Saifedean Ammous, an expert in cryptocurrency economics.
