WealthChange (wealthchangex.com) is a cryptocurrency trading platform that officially launched in September 2024, dedicated to providing global investors with trading services for mainstream digital currencies, including Bitcoin, Ethereum, Tezos, Cardano, and more. In addition, the platform does not offer services to jurisdictions where it might violate local laws or regulations.
Platform Services
Types of Trades
To meet the needs of diverse investors, WealthChange offers several types of trades, including perpetual contracts, delivery contracts, and spot trading.
- Perpetual Contracts: These are contracts without an expiration date, allowing investors to hold positions over the long term. The price of perpetual contracts is usually closely linked to the spot price of the underlying asset, maintained through a funding rate mechanism. Traders can leverage high levels of leverage, amplifying potential gains or losses, thus bearing both risk and reward.
- Delivery Contracts: Delivery contracts have a clear expiration date, at which point physical delivery or cash settlement takes place. This is an ideal choice for investors wishing to settle assets on a specific date or hedge future price risks.
- Spot Trading: This is the most straightforward type of digital currency trading, where investors buy or sell the actual digital assets at current market prices. Without leverage, the risk is relatively low, allowing investors to directly hold digital currency assets and manage their portfolios flexibly.
Trading Products
WealthChange supports trading of various mainstream cryptocurrencies, providing investors with a wide range of options.
- Bitcoin (BTC): As the first and most influential cryptocurrency, Bitcoin offers a decentralized digital payment method for users worldwide, widely regarded as "digital gold," commonly used for value storage and hedging against inflation risks.
- Ethereum (ETH): Ethereum is not only a cryptocurrency but also an open platform that supports smart contracts and decentralized applications (DApps). Since successfully upgrading to a Proof of Stake (PoS) mechanism in 2022, Ethereum has significantly improved in terms of energy efficiency and scalability.
- Tezos (XTZ): Tezos is a self-amending blockchain that employs on-chain governance and self-upgrade functionality. Through the Liquid Proof of Stake (LPoS), users can participate in network governance and consensus mechanism, promoting active community engagement and sustainable platform development.
- Cardano (ADA): Cardano is a blockchain platform based on scientific philosophy and peer review, using the Ouroboros PoS protocol. It features a layered architecture with a settlement layer and a computation layer, aiming to provide a secure and efficient environment for decentralized applications and smart contracts.
Trading Platform
WealthChange offers proprietary trading software for users, including iOS and Android.
Deposit and Withdrawal Methods
Currently, the platform has not clearly listed on its website the supported deposit and withdrawal methods, minimum deposit and withdrawal amounts, and related fees. It is recommended that investors obtain the latest fund deposit and withdrawal policies through official channels before making any transactions.
Contact and Social Media
In terms of communication with users, WealthChange currently only provides an email address on its website. The platform has not yet established official accounts on mainstream social media platforms such as Facebook, Instagram, or Twitter, and users can only contact the customer service team via email.
Company Background and Regulatory Information
According to official information, WealthChange is a globally compliant cryptocurrency exchange with offices in San Francisco, Malta, Hong Kong, Singapore, Japan, and Korea. The company is committed to providing global users with convenient and secure digital currency trading services, offering a variety of trading tools, visualization features, and professional human support.
The company entity, WealthChange Inc., was registered in Denver, Colorado, USA, on September 28, 2024, with registration number 20248051484. Additionally, on September 29, 2024, the company completed registration with the U.S. Financial Crimes Enforcement Network (FinCEN), with MSB number 31000282582852.
Tips: FinCEN registration mainly concerns compliance with anti-money laundering (AML) requirements and does not equate to obtaining a comprehensive financial regulatory license. FinCEN does not deeply scrutinize the qualifications of registered entities, with its regulatory focus being on preventing financial crimes, offering limited oversight on consumer protection and market manipulation. Given the numerous entities subject to its jurisdiction, FinCEN struggles to conduct comprehensive supervision and inspections of all registered entities.
Additionally, the "Terms and Conditions" page on WealthChange's website states that all terms and agreements are "governed by the laws of the Republic of Seychelles, and the formation, interpretation, content, and execution of this agreement are subject to the relevant laws of the Republic of Seychelles."
Upon inquiry, the Seychelles Financial Services Authority (FSA) website does not display WealthChange's registration information.
Conclusion
WealthChange (wealthchangex.com), launched in September 2024 as a cryptocurrency trading platform, offers perpetual contracts, delivery contracts, and spot trading services for mainstream digital currencies such as Bitcoin, Ethereum, Tezos, and Cardano.
However, the platform's official website has not clearly announced the deposit and withdrawal methods or related fees, with contact limited to the email address provided on the website. Although the company claims that its terms and agreements are governed by the laws of the Republic of Seychelles, no registration information was found on the Seychelles FSA website.
Risk Warning
The cryptocurrency market is highly volatile, and the regulatory environment is not yet fully developed. Such trading platforms may have issues with security, fund risks, and legal risks. Investors should carefully assess the legality and credibility of an exchange when choosing one, fully understand trading risks, and avoid financial loss due to blind investment. It is recommended that investors seek professional financial and legal advice before making any investment decision.
