Topic: BestChange. Interview 07.2020 (Read 445 times)

Hello, hugeblack!

1.
However pompous it may sound, but focusing on the convenience and safety of clients instead of immediate profit, we enhance our long-term financial potential.

It is common knowledge that we have been using the metamedia model, which has recently become a trend, for over than 13 years. We are a large (in terms of incoming traffic) aggregator of exchange offers for various e-currencies and tokens, but we do not take part in the exchange process, but we sell the traffic to those who do it instead.

It is a common thing among many businesses nowadays: taxi, food delivery, medical and cosmetic services, finding lodging and buying airline tickets. But some take bigger risks and larger profits becoming full-blown aggregators (payments occur on their platform), while some remain an information mediator and get a commission fee from each order fulfilled or the difference between buying and selling traffic.

2.
It was answered in the previous question in part. Yes, in fact, if you make it very simple, we are a platform for publishing offers, but we do not get money for advertising services as it is, so there are no collisions. As to the profitability of one or another advertising campaign, we carry out all kinds of campaigns — they may be repaid from the first click or they may be repaid only through high LTV, while some of them are exclusively related to image. It is like Coca-Cola does not get sales from a particular ad banner in a small town. Ask them why they do it After taking off, a plain cannot completely shut off its engines or it will go down immediately.

3.
Thank you for a positive response! Indeed, we are constantly improving our site for the convenience of our users, but still we notice some difficulties in using our site on some devices so we decided that it is necessary to make lighter versions for mobile devices. At the moment we are choosing professional developers and we are taking the opportunity to ask you to send us your cases and your price to [email protected] if you are involved in developing mobile software.

They actually have, but as their description says that the application is not an official version.
Though, you'll get confused when you check BestChange app on Google Play, because there were actually 2 identical apps existing.


Obviously, not this.


But this.


I was wondering too, their current mobile app doesn't have anything but just plain monitor on exchanges, which I also find it as a fine and simple way of finding the best exchange.
Nevertheless, they clearly stated that this version isn't official yet.
As per the interview, they said they're working on adding more features. So, I guess this time it would be the official version of their mobile app.

I'd put a portion of the blame on how the internet and the media works atm, this projects I'm sure have the time to be interviewed, but they do not want to because of how information given can be twisted and embellished over the internet, you could say one thing when being interviewed and a totally different thing gets published.

@zasad, you publish it exactly the way the interview was conducted, but the projects may not be sure like we are, I think if they trust your interviews to be transparent by seeing the previous ones done, you'd get more projects to interview.

Same as you I didn't know that they are running for that long years, I just notice them here on bitcointalk but they are delivering good service and I presume they are doing good right now since they are still paying their campaign participants for quite long weeks. Also yeah many changes but its good to see that they adopted well in this modern technology and they are still good for running this business.

I actually didn't know that they have been existing for 13 years until I have read it. For those years, a lot of changes were made and they have to move on together with the pacing of the technology and the transition of exchanges from traditional to crypto exchanges.

These are interesting questions and sure many would love to hear the answer of the CEO.

Then this article would not be published soon
I try to look for interesting projects, but I come across the fact that people do not have too much time or they simply do not want to communicate.

I hope that in the near future one more interesting interview will be released.

Thanks for this Interview, although I am announcing them I have some questions.


How do you achieve profits?

Although you have a large number of employees and the site does not primarily work as an exchange platform ( an information pool and we do not participate directly in digital currency deals.)

How to cover expenses on the advertising campaign?

Are they advertising in a second-place? If the answer is no then how did they continue this long without promoting, why did they use this forum, and is the forum ads (Signatures campaign) profitable?

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The design of the site is attractive and simple, all they need is an Android/IOS app despite the possibility of browsing the site on the phone without problems.

Would've been better if you included other similar aggregators in your interview ^{[like in your last one for mixers]}.
^{- I do know their way ahead of others in their field.}

Significant improvement but I didn't like #1/#12 questions since it's already part of their FAQ page and #13/#14 questions for not being related to their platform.
^{- Having said that, I did like the way their CEO responded to question #13.}

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Indeed but I wonder at the same time about its functionality compared to the other version.

In a span of 13 years, sure everything has changed. People has been fond of smart phones for easier access on emails and a quick scan from anything accessible by a mobile phone on the internet anytime anywhere. A user friendly mobile app would be one of the spotlight in launching with the new version of BestChange, considering majority of us has been using smart phones, thus checking on our favorite monitor can be done with more ease in a lighter mobile version than zooming in from an internet browser version in your phone.

I'm sure, a lot of users has been looking forward for this new BestChange feature.

Good day!
I managed to chat with BestChange and publish this article.
I tried to take into account the past mistakes of my interview and prepare useful and interesting material.
If you do not know about BestChange, you should go here:

https://www.bestchange.com/
BestChange on the Bitcointalk
BestChange Signature Campaign

Let's start

1.When did you start BestChange?
"BestChange exchanger monitor was launched 13 years ago, on 19 June 2007.
We are of the same age as the Perfect Money payment system and older than all cryptocurrencies."

2. What prompted you to create the project?
"As far back as 15 years ago, our CEO saw potential in the developing market of e-payments and even wanted to launch his own exchanger. But during the market analysis, he found a problem — at that time there already existed a large number of fraudulent exchangers. This discovery prompted him to envision a website with selected trusted exchangers where users to find the best exchange rates. He was inspired by very young services for exchange rate comparison, and the idea to create a better version of such service was quick to follow. With time, former leaders in this small market closed down, and our monitor became the oldest among the existing ones."

3. How Many people work in your team?
"There is no definite number, we have a lot of employees, but many of them work on a request basis, and only some work full-time. Speaking of key roles which are the backbone of our business, there are 16 team members who are always involved in all processes. If we count those who in this or that way contribute to the developing of our project, the number is hundreds of thousands of people around the world — these are participants of our affiliate network. Recently this number has reached a 1-million mark, but, of course, the number of active partners is much lower."

4. How do you assess your position in the market and how do you differ from your competitors?
"Undoubtedly, we are a leader in our segment. We draw 70 per cent of users of all monitors. However, our competitors are not only other monitors but also websites helping cover the same needs of people that we do: exchanges, p2p platforms, Telegram bots. They all have their pros and contras. What makes us stand out for a wide range of users, is that we are the most balanced solution from the viewpoint of safety, profitability, speed and simplicity of exchanges."

5.To your FAQ, much has been written about the "thorough checking".Tell us more about how this happens?How do you check the ballance of the partners(cash and and money on bank accounts)?
"Our check is first and foremost aimed at exchangers’ reputation. In particular cases confirmation of financial reserves can be skipped altogether, when everything can be seen by the number of transactions and reviews on the Internet, for over 13 years we have learned to see through such details. Obviously, we would never fully disclose the process of checking, but as for the open side of it, we certainly check for how long the exchanger has been operating, what the reviews on the Internet are, if there is a proof for these reviews, how open the administration of this platform is and if they are ready for developing and growing in the near future. We often suggest all new services to preliminary try collaborating with smaller monitors to demonstrate if they are capable of such cooperation, and later on, if their reputation proves to be sustainable, we invite them to join us. This way we can not only make sure of the safety for our users but also confirm the efficiency and performance of the exchanger’s team."

6.   What measures do you take to the exchange partner if he has not paid the money to the client?
"It depends on a particular case. The thing is, there are a lot of fraudsters and competitor wars in the market. Every such claim is analyzed by our moderators separately, they cross-check all the facts. Of course, if analyzing the situation, we find out that the exchanger did misuse its powers, it will be immediately switched off from the monitor until the situation with the user is solved amicably. We can also switch off exchangers if there are several suspicions complaints, even before moderators find out what the issue is. This is done to prevent any possible damage that otherwise can happen when time is spent looking into the matter."

7.   How has the COVID-19 pandemic affected your business?
"We did not notice any changes at all as to the traffic of our website and the revenue. The structure of the demand has also remained the same, Bitcoin is the leader both for buying and selling, and in the same volumes as before the pandemic. As for the team, we as much as possible moved to remote working. This has not affected the quality of work, almost 100 per cent of processes could already be done online or they were completely ready for such a switch when necessary."

8. Can you tell the volume of trading operations per month of all your exchange partners?
"We do not take part in the very exchange process and simply help users find safe and appealing offers on the market. The very exchange takes place on separate websites, we do not collect information about volumes from each and every of more than 400 exchanges."

9.   What is your opinion on the draft Russian law "On digital financial assets"?
"We have many times publicly criticized these draft laws in their current form. We have a strong opinion that such laws are necessary, but the very rules must encourage the development of the industry in the country and not obliterate and forbid any activity of cryptocurrency projects. We are glad that recently the specialized Committee has heavily criticized the whole package of draft laws and sent it back for further improvement."

10.   Do you have cryptocurrency licenses? Do you plan to receive them?
"If you mean a license for working with cryptocurrencies, we do not need it. As already said, we are just an information aggregator and do not directly participate in the deals with cryptocurrency."

11.    What innovations await your customers in the coming year?
"On the whole, we never stopped developing the project, on a weekly basis we launch at least one small improvement of a feature based on the feedback we receive from our users and exchangers. But we also hope to fully overhaul our website. For quite some time now, while supporting our working website, we have been developing a design and functions of a completely new version of the monitor. We cannot promise its launch in the new year, but that is the aim. What we do plan is launching a lighter version of the monitor in the form of a mobile app. We see our customers’ needs and do our best to meet their expectations."

12.   Why should we choose your service?
"You have no choice! But, speaking seriously, we are simply the most convenient and safe tool to look for the best conditions for an exchange. Why crypto enthusiasts choose BestChange:
•   Simplicity of using the service, no special skills needed, intuitive UX: all you need to do is to select an exchange pair and you will be shown all exchangers working with it. Exchanging in the exchange services is as easy as a pie
•   Vast choice of trusted exchangers: 440+ exchangers
•   Vast choice of payment services: not only cryptocurrency, including altcoins and stablecoins, but also all e-payment systems popular in the world, as well as fiat (cash, bank wire, Visa/MasterCard)
•   Useful functions to help choose an exchanger: icons about special conditions of an exchange (for example, no verification required), information page of the exchanger, reviews left by real customers
•   An option to set up notifications about the desired exchange rate/necessary reserves amount"

13.   Advise 3 cryptocurrencies/tokens for investment in the next 1-2 years?
"We can only recommend one cryptocurrency – Bitcoin. Other projects have not yet offered anything conceptually new and just piggybank on the original bitcoin technology. There is a small hope for Ethereum, they started off as a very promising project, special thanks to them for launching the concept of smart contracts. But all the recent updates of the projects are becoming populist by nature and are not aimed at developing the technology."

14.   How much will Bitcoin cost at the end of 2020?
"Of course, we hope for a new ATH, for the price to be not lower than $20k. But we are morally ready for $1000, unfortunately, there are such concerns as well."

Note:
ATH (All Time High) - the highest value for all time. The maximum cryptocurrency rate.
Source

I hope you enjoyed it!
Thanks to BestChange for your time.
Your feedback is very important, they help work on bugs and give strength to new projects.

Disclaimer: This article is educational. Do not consider this material investment advice!

Translations:
Russian

Cheers.