Topic: Bitsar.com -Lightning Cryptocurrency Exchange. No KYC & No Registration Required - page 3. (Read 1251 times)

Hello, Thanks for your inquiry and supportive recommendation. We appreciate you bringing this to our notice. May I know exactly what limits are you pertaining to? Is it about the limit order, or the restrictions?






Hello, I appreciate your reply and your kind suggestion. Our thread is all about our main page which is the Cryptocurrency Exchange, therefore, we don't require users to register or get verified in our site. We focus on this function, and only provide other page functions. It is up to you to decide whether to use it or not. Not your keys, not your coins, this is what our team recognizes, and we hope our users will also recognize it. This is not false advertising. We firmly believe that users are conscious of protecting their assets, rather than keeping funds out of exchanges. Although we also provide such services, it does not affect our suggestion that users keep coin tickets by themselves.  If you want to use other features in our website, such as Buying Crypto coins using fiat currency, registering an account and KYC is a required. Your feedback is greatly valued!




Hi! We are happy to know that you are using our platform. If you need some questions, you may use our live chat. Let us know and we'd be happy to assist you.

I'm trying to make a deposit on my bitsar account



currently still pending,



I will edit back and revise my experience of depositing and withdrawing at Bitsar

continued above, my deposit confirmation took less than 2 hours, that's because I used the fee with the lowest fee lol

after confirmation, I immediately traded with the TRX/BTC pair and the fee that was charged was not up to 1 trx



I proceeded to withdraw TRX directly to my another TRX wallet and everything was confirmed without me needing to do KYC.

The amount of hipocrisy coming from a single person just in a single thread is overwhelming.

You say you don't need KYC then you say you need KYC.

Also, using the "not your keys, not your coins" expression in marketing content writing for a custodial service is a most dishonest marketing ever.

Please clean up your thread and rewrite what you actually advertise here. I also suggest to remove the "NO KYC" part from your thread's title, since you have clearly stated you are a "taint proclaiming" service and require KYC.

I see you're also doing spot trading, what are the limits for it?

I can't seem to find any information for this. It appears there is no help center for self-help articles (aside from the FAQ) which I highly recommend doing so as it would cause less strain to your support team.

Hello, Thank you for your warm welcome.

1. We do not have a so-called headquarters, our team are in distributed offices, just like most digital currency exchanges.

2. We weren’t against KYC. We require KYC once it involves legal currency trading.

3. We apologize that we cannot inform you of the total amount of our reserve currency due to some reasons.

4. Most of our transactions are completed within a few minutes. If there is fraud, we won’t be able to cover it up. Everyone is keeping an eye on us. In addition, we also have a twitter small channel and other contact information.

The floating exchange rate is different from the introduction of the exchange rate. Because of our current activities, the price of the floating exchange rate is momentarily reduced, and we hope that more users can try to use our services.

We apologize for the errors. As per the maintenance of the website, we still continue to put a lot of effort into doing better and enhancing our website.

Thank you for your interest and inquiries

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Hello, Please accept my apology for the inconvenience. You may please visit our official website www.bitsar.com. Thank you so much for your interest! In case you have additional concerns and/or questions, let us know and we'd be happy to assist you.

It would be nice if you could add the website link to your post OP. It took me a while to find it, and I'm assuming you don't want that.

Welcome on this forum Nice to see another company but I have some questions.
1. Where is your headquarter located? Where do you have offices?
2. What kind of license do you have? Because I can't imagine saying no KYC when you hold a license to operate exchange.
3. What are your financial reserves (How much bitcoin/altcoins do you hold)?
4. Why should I trust this exchange?

On website, I see that Float rate is 0.35%, on your FAQ page I read the following:

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There are some other errors that need to be fixed on FAQ page. One advice that I can give you right now is to change font family on Trade page, I don't know if its only me but I find it hard to read numbers on orderbook, they look very bold and harsh.

Hello, Thanks for getting back.

Since the topic of our post is the website's home page, the Currency Exchange (converter), we don't require users to register or get verified in our site. You can exchange without registering an account. KYC is not required.
 
Legal currencies are fiat currencies. If you plan to use other features in our site, like buying crypto coins, registering an account is a must. Why? We must perform KYC verification for users purchasing and selling coins due to legal restrictions, to make sure you don't use our website to engage in illicit activities like money laundering.  If you need to use fiat currency to purchase a cryptocurrency, it can only be used after the KYC verification is completed.

If a non-registered user uses our home page, and the order fails to be converted successfully, we will return your funds to the original way. In this case, you may please provide your order number so we can help you. Live chat on the website is also available, and other contact details are also provided. Non-registered/verified users can message.

Please be aware that once a transaction has been initiated and the system accepts it, it cannot be canceled. Please confirm and double-check that the order is correct before proceeding with the transaction. The instant exchange function transaction cannot be canceled as long as you successfully transfer to the account you provide. If you haven't transferred the money, just stop the transfer or get a new order. Old orders can be ignored. I hope this helps.

The idea is still vague, given that the user is not required to register or verify his account. What exactly do you mean by "legal currency"? As far as I can see, the platform works on exchanging between cryptocurrency pairs. In simpler words, how will the user be contacted if any problems occur in the exchange process, given that he is an anonymous user who does not have an account registered on your platform? Perhaps I did not understand your answer well, but I still see my questions as legitimate, especially since the service is new and still needs a lot of effort to gain the trust of the community.

Hello, We are happy to hear from you. What we want to do is to exchange coins and coins. We will not force customers to verify their identities if legal currency is not involved. If legal currency is involved, we will ask customers to verify before proceeding with the transaction. There will be no after-deposit There is no problem with the audit of funds. As for the maintenance of the forum section, we are still working hard to do better, thank you for your valuable suggestions.

This point may not be clear enough because there are possibilities that I do not know if you have taken into account. Since the platform does not require identity verification procedures, can you explain to us how your system will act with deposits that come directly from Mixer platforms or from any source that can be considered suspicious? If you do not take this into account, then your system itself may turn into a mixer for cleaning suspicious funds, and not just trading.
Also, in cases of refund, how will the client be contacted if he deposited from an address that is not owned by him or directly from a trading platform or any other site?
By the way, this announcment thread for the platform is very poor, and I advise you to hire a professional manager t manage professional ads campains then to display more details in a beautiful way, and I do not know if you have a marketing strategy here on the forum.

Hello, My apology for not quoting your question in my response, and we are so glad we heard back from you.

Because this is a hypothetical problem, it did not actually happen. Kindly describe clearly which function you encountered when using kyc? Because depending on the situation and the use of different sections, (e.g. flash exchange on the homepage, buy and sell coins, wealth management, and currency deposits are traded in the standard market), the corresponding solution plans are also different. If you just use the lightning exchange on the homepage, there is no KYC.. (Please see quote #5 for additional reference)

I am going to quote myself once again because you haven't responded to this query and instead chose to respond to others.


We would love to know what you would do when such a scenario comes up because believe me, it does come up as the grip of mandatory KYC verification keeps getting tighter with different centralized exchanges.

Hello, We're glad to hear back from you. The Instant Exchange feature on the homepage does not require you to create an account. However, you have to sign up in order to use the Spot Trading.

Understood. I have also noticed that none of your app links work properly, they're all redirecting to this page:


Where there is nothing but a list of trading pairs.

It's also unclear whether you provide spot trading or not. it looks like you do, but the "fees" and "about us" pages make it sound like you only have the instant exchange.

Hello, Thank you for your attention to us. You can try a small exchange first. It is convenient for you to quickly understand our transaction process. If you encounter any problems during the period, you can get help through the online customer service.




Hello, please don't worry, we don't have this problem. All your trading liquidity is provided by us. There is no third party situation. Moreover, the exchange is automatic and timely. There will be no stuck situations. If you have any worries, you can try a small conversion to understand our transaction status.



Hello, We want to express our heartfelt gratitude for your attention and suggestions. Your feedback is greatly valued! We will try our best to do better. And the forum activities will continue. Have a nice day!

OP I got to know about this exchange and announcement thread through a well known manager (yahoo62278) and if it came to this platform through him them be rest assured of your project but this exchange does looks more like a DEX  wit no KYC which I think members would definitely indicate interest in it. I like the outlook of the exchange and it is unique. The UI is quite alright and the exchange features are quite numerous as one can swap for any coin or token of their choices but I will advise a a new exchange here is the right place for publicity and as such, you would make it very high and huge but in other to achieve that, you1month advertisement and publicity would not be enough to cover the campaign because this is an exchange and as such would need constant publicity. Do well to extend your campaign lifeline for a longer period so that members would not be sceptical about your presence here.
You can use bestchange as an example. They have long been in existence here and are still running their campaign with their exchange recording numerous successes. You can achieve that too only if you extend your campaign and already you have a reputable manager in charge of your campaign.

I think what Jerome was trying to ask is whether you're using a third-party service to provide liquidity, or all of the funds are yours, and if you've built this from scratch yourself.

If you are using a third party, this would mean that they are the ones processing the transactions so if they decide to ask the user for KYC, the users have to comply. Correct? An example to give for this is wallets with built-in exchanges like Exodus, atomic wallet, etc. They have zero control over the swap feature, so if any issues arise, the wallet provider can't do anything and the user has to contact the third-party service.

I saw the exchange platform from the signature campaign that one of us yahoo62278 dropped today, and from there I checked the website to see the content of the exchange and when I enter the site omen, I was first thinking that it is a mixer. It does not look like an exchange. I don't know why exchange that are coming now are difficult to understand. Binance, Busa, Ramitano and others that I have used is not like this. Those ones that I listed are very simple to use. Even mixer, I have not seen a simple mixer to use. All mixers I have been trying to use, have one issue or the other.

Hello, We truly appreciate your message about our service.
 The instant exchange function on the home page does not require KYC. Because it does not involve legal currency. There will be no audit issues. If you need to use the credit card to buy coins, you need to go through KYC verification. We encourage customers to use their own wallets. Perform currency exchange. The coins are all in your own wallet. So there is no such audit problem. Because the transaction is automatically processed by the system from time to time.