Topic: Forget about exchanger search! Use BestChange! - page 11. (Read 13341 times)

Recently, there was a crisis in the Bitcoin network, as fees rose insanely due to the accumulation of unconfirmed transactions, the main cause of which is the greed of miners. The increase in transaction fees on the network has also caused bitcoin withdrawal fees to be raised from platforms including platforms supported by BestChange.
I thought of suggesting adding information regarding fees on any pair in any of the platforms you support. This will help users to determine the best platform to choose and will raise awareness of network traffic, since platforms may raise withdrawal fees without informing users in advance, especially in special circumstances, as happened recently. The same proposal could include platforms that support the Lightning Network as well.

Do you really think that I'm so inattentive to post that without strong observation?
FixedFloat has two option, one charges 0.5% and another one - 1%. On this image, you see 0.5% float rate, even if you choose 1% fixed rate, there is a significant difference in price. Just try yourself, wait more than 15 seconds, wait more than 1 minute and tell me if results match.

It's true that I have to visit the exchanger but when someone sees on Bestchange that FixedFloat has bad rate and isn't on top of the list, they'll ignore that exchange while in reality FixedFloat has better rates than some top ones. Also, I had a case where Bestchange was showing me 1BTC equals 59K XRP on certain exchange and when I visited that exchange, their actual rate was 1BTC = 57K XRP.
I don't know if you want to pretend that that's fair and okay but from an user's perspective, this isn't high quality service. It's a problem that needs to be fixed, I think one should be grateful for me for highlighting that fact instead, not offended.

Yes, it is just you.

Fixedfloat has two options: Fixed rate and float rate, Clicking on each of the two brings 2 different rates and one of the rates is close to what BestChange displays on the monitor. So which on had you choosen?

Secondly, the minimum time bestchange updates the prices is 15 seconds. In crypto exchanges, a lot of price change can happen in 15 secs.

Thirdly, you will still have to visit the exchanger in order to make a trade. Bestchange is just simply a price monitor.

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is it just me, or I am seeing E-scrooge as inactive?

Guys, do you monitor exchange rates and update statistics correctly?
For example, have a look at this:

And now have a look at this:


Images are taken at the same time and before I'd publish them here, I have been monitoring prices on both websites and BestChange definitely has slightly wrong statistics.

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Here you can see that according to your claims, E-Scrooge has two icons that means two highlighted features: This exchange does not fix the exchange rate in the order and the 2nd one - This exchange runs in the manual or semiautomatic mode.


Then there you have another exchange called OpenChange with one different, key icon that means: This exchanger requires registration before creating a request for exchange.


This claim about OpenChange requiring registration to complete exchange is true but so is the true for E-Scrooge while on your website E-Scrooge isn't tagged with that claim/key icon.

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There are a lot of similar mistakes on your website, hope you'll fix them.

Sometimes I think you can never really tell the benefit lying about reserve funds offers to them, you can only wonder. It is not impossible that some exchangers lie about the amount of reserve funds they have but for Bestchange with a very reliable and consistent record over the years, they can be trusted.

To be able to have maintained such an impeccable record over the years and get good organic reviews, nobody needs to be told that Bestchange has been committed to ensuring good conduct and to have ensured that some defaulters along the way have been punished and others have learnt.

As you correctly noted, we cannot have a reliable way of checking this information because even with these powers, there are lots of loopholes to show more serious reserves than they have. We check such data using indirect signs, but we do not have live-time access to accounts and wallets of services in order to confirm the amount of reserves with high accuracy.

Meanwhile, we thoroughly check feedback from our users, and in case of finding out a discrepancy between the data sent to us with reality, moderators check everything and, if necessary, punish the exchanger for the discrepancy. A typical punishment for the mistake in the date is exclusion from the listing from several hours to several days (which means losing clients and money for their business), in extreme cases, we can completely refuse to work with a service that often and deliberately tries to deceive users even in less critical information.

It must be specified that we are not talking about mistakes in the exchange rates. We have more severe punishments for these kinds of mistakes including exclusion from the listing until the difference between the exchange amount and the transferred data is fixed. But as for such insignificant information as reserves, we are more flexible, although we can apply more severe penalties.

However, as Bitcoin_Arena correctly notes, there is no gain to make the real numbers higher, it happens very rarely and does not affect users. Most often, such errors are not intentional but purely technical: due to a delay in updating information about the status of their accounts.

But then, why would an exchanger lie about the amount of reserve funds they have?

Why would someone who has only 5 BTC lie about having a reserve of about 500 BTC?

I am seeing as though the status of your exchanger is active on Bestchange or am I missing something?

We believe an error has occurred, and we're actively addressing the situation.

I saw your exchange as excluded from monitoring on the BestChange service, what happened there?

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I just noticed that there is no possibility of searching for exchangers here. So if I want to find someone specific (not through a trading pair), I can only use the browser to find a matched word for such a search. Maybe it could be added in the next update.

We highly recommend checking out Bestchange if you're looking for an efficient and reliable aggregator to help you get the best rates for your crypto trades as well, as trust to them.

liquidity is very important, considering that the exchangers deliver the data themselves, is there room for manipulation? I mean, is there a reliable method of how you can check the validity of the information they have passed on to you?

We witnessed that some of the largest exchanges manipulated the transfer of funds between themselves in order to show liquidity.
How do you react to such things? Do you want to state it publicly with some consequence or does everything end with just a warning?

Why is it important to monitor exchanger reserves?

Available reserves is a total amount of money in certain currency the exchanger has for further operations.

Absolutely all exchangers timely provide us with the information about the quantity of funds in their reserves, so that the data on our website would be maximally up to date.

👉 It is important to pay attention to the required exchanger reserves, because when you withdraw funds

As a rule, exchangers in the BestChange listing do not have any problems with having funds in reserves.

You can find detailed information about every exchanger on our website: https://www.bestchange.com/

No problem, typos happen 

Sorry about that. My intention wasn't to confuse anyone, in fact it was the opposite, but then I missed out the critical word when I was typing.

I actually wanted to say "I am Not part of BestChange staff but let me try to answer" but the mistake instead made it look even worse like I was some sort of impersonator 

Today we would like to tell all crypto enthusiasts about a prospective business: launching your own crypto exchanger

SPOILER: How much money do you need to open a cryptocurrency exchanger?

26K dollars is the minimum capital for a confident start from scratch

The total costs are made up of:

● Expenses for setting up the site itself: ready-made script $7990 to buy or $275 per month and hosting from $200 per month.

● Creating the necessary stock of cryptocurrencies and fiat for exchange. From hundreds to tens of millions of dollars. But the total reserve for listing in BestChange must be at least $10,000.

● Advertising expenses. From several hundreds of dollars a month for successful work.

Can you spend less? You can start with almost any amount, but you will need at least 10.5K dollars in order to at least "squeak" into the ranks of serious players and start expanding your business with an increase in the number of customers. With smaller amounts, it will take a long time to grow to the required level, but it is also possible.
Website

The first thing you need is the website itself. This includes buying or developing a script, ensuring security, anonymity, automating the exchange process, developing a pleasant design, fine-tuning protection against fraud, spam, hacking and DDoS attacks.

There are two main ways to create an exchange site. The first way is to write the exchanger code from scratch. For these purposes, you will need a qualified programmer who understands how the cryptocurrency market functions. Such a development will cost from several tens of thousands of dollars and will take several months. Although at the end you will have an absolutely original design of the exchanger and a system built for your own needs. But do not forget that you will have to constantly maintain and improve your software from the technical side, so you will have to pay for the work of the developer throughout the existence of such a project.

The second way is to buy a ready-made template of an exchange office. It will cost from $8000. The second way is simpler and shorter, and the functionality of the exchange office will be supported by the script developer, which will save on site support in the long run.

From the experience of our partners, we can recommend the engine from the developer "PremiumExchanger". The software from this developer uses more than 2/3 of the total number of exchangers listed on our BestChange monitor.

► Hosting and domain

We recommend choosing a dedicated server rather than virtual VPS/VDS hosting, and the data center should also have protection against all known DDoS attacks at the network and transport levels of information exchange. Your hosting provider must have activity tracking enabled in the root folder of the site with a notification about downloading or changing files.

Data centers with a questionable reputation should be avoided.

The domain should also be chosen in an area where unilateral division is impossible, and the registrar himself should have a good reputation and be located outside politically biased jurisdictions. In other words, we recommend buying a domain and hosting outside the CIS and only from large, trusted companies.

► Wallets

The next part is setting up wallets for payment systems, bank cards, accounts, registering accounts on exchanges, developing a scheme for storing reserves and general mathematics of the project.

Recommendations: you should not use custodial services (centralized exchanges and payment systems) when working with cryptocurrencies, and if this cannot be avoided, then you should carefully study the sanctions policy of the service used. If you are using an exchange that often freezes transfers for political reasons, you should avoid working with citizens of a country that is at high risk of audits.

Legal part

► Registration

The legal entity does not have to match your location, registration of exchangers in "crypto friendly" countries is a common practice.

The list of such countries is quite wide, for example, Estonia, Malta, Japan, Cyprus, Gibraltar, Mauritius, the United Arab Emirates (namely Dubai), Puerto Rico, the Cayman Islands, Switzerland (namely Zug), Poland, Finland and even Belarus with Slovenia.

Estonia has traditionally been the most popular option for those on a tight budget.

► Trademark

The next item is not mandatory, but it will be a good bonus in possible legal disputes, including with cybersquatters or support in advertising networks. It is worth registering the site name and logo as your own trademark.

► Staff

When hiring staff, special attention should be paid to signing agreements that establish the level of responsibility of employees, including a confidentiality agreement (the so-called NDA). Be sure to instruct the staff that if it is necessary to accept any files from users, these files are uploaded and viewed on devices not related to the workflow of the exchanger, except for bitmap images, this usually happens using the appropriate hosting.

It is worth conducting regular security audits, including an assessment of the financial condition of employees. It may not be superfluous even to conduct tests using a polygraph.

► Marketing part

Contrary to popular belief, marketing is primarily not about traffic, but about the quality of services. The most important link in this aspect of the business is the staff.

The first thing to do is the preparation of instructions for operators, as well as a streamlined process of training and certification of personnel. The instructions should ideally be comprehensive and written for each payment system so that the staff is familiar with all the nuances and can quickly understand the essence of the work of each stage of the transaction, even if everything is automated.

Also important will be the development of "soft skills" of operators, primarily empathy, emotional intelligence (EQ) and good manners. It seems such an obvious banality, but it seems to be neglected by half of all market participants. The staff is the face of your business.

► Reputation

From here, the narrative flows smoothly into securing an excellent reputation. Constant scandals and disputes are "a road to nowhere." An attempt to cash in on mistakes or create cunning schemes will eventually lead to the exclusion of the service from most monitors, that is, traffic will become more expensive for you and there will be less of it.

In general, one of the most important requirements from our monitor for exchangers is an impeccable reputation. We value our own reputation, which we have been developing for more than 15 years, therefore we refuse to work with services that can negatively affect it.

Lack of reputation (a trace on the internet) is also a bad signal for us, most often it indicates a lack of real experience in the activity. Therefore, as part of working with reputation, it is important to have accounts and pages in all popular review sites, monitors and thematic forums. Collecting truthful feedback from real customers should be one of the most important tasks at the initial stage of the work of the exchanger.

► Monitoring competitors

All owners of exchangers monitor the exchange rates in the market and try to set competitive commissions. To do this, many people set up parsing of rates from monitors in order to receive up-to-date rates automatically and be able to keep their rates in certain positions relative to competitors.


But we will warn you in advance that parsing of the pages of our site is prohibited, your script will quickly get banned if it is not previously blocked by DDoS protection. If you need rates from our site, please contact support to request access to a special API designed for this very purpose. In the request, you will need to specify what the rates will be used for, as well as a link to your project.

► Traffic

In order to monetize your by-now finished product, you need effective promotion. There is a fierce struggle for the attention of users in the market and a lot of efforts will have to be made to make your exchanger recognizable and popular.

You will need an experienced marketing team to promote yourself on social networks, telegram channels, YouTube and blogs. To increase indexing in search engines, you will need excellent SEO optimization and organization of interaction with the media, "influencers" and the purchase of advertising space. You cannot neglect the placement of the project on industry forums. You should also consider a referral program. And launching targeted traffic by setting up targeted and contextual advertising is one of the most important tasks until it gets into the BestChange listing.

To increase demand, on the one hand, you need to have the necessary and popular currencies for exchange. But in fact, it is very easy to solve, just open the "Popular exchange directions" tab on our monitoring. On the other hand, expanding the range of exchanged assets is an important competitive advantage. You can make very good money on the exchange of rare destinations that are not represented by competitors. This is access to more profitable commissions, and customers in such areas become permanent.

What's next?

For many, the end point of the process of launching a crypto exchange is getting into the BestChange listing. This does not guarantee success, but on the one hand, it is a sign of involvement in the "elite club" of the largest services with an excellent reputation, and on the other hand, it allows you to get access to our traffic.

We will not describe in detail the conditions for including an exchanger in BestChange, they are described in detail on a special page.

We will only briefly mention a couple of the most important points: we include in the rating only well-known and experienced exchangers that have worked in active mode for at least 6 months; the name, domain and design of the exchanger must be unique, including the same in sound and spelling as other exchangers; and the total currency reserve must be at least $10,000.

But even if all the parameters are met, due to the large number of applications and thorough checks by the integration department, the waiting period for adding can take about a month, in rare cases even more. Therefore, it is important to apply immediately, being completely ready for integration, so that you do not have to finalize some important points for inclusion for many weeks.

If you use our tips, you will definitely succeed in this business!

Of course, there are isolated cases when exchangers, for inexplicable reasons, refuse to join our platform, but the vast majority gladly become part of our community.

Speaking about the reliability of services not in the listing, there is no unified problem. Some are not included due to the fact that they are not yet widely known, although they can be reliable, some are not ethical as partners, but at the same time, service clients without deceiving them. But these are single cases, as a rule, all large services of Central Asia and Eastern Europe have been included in our service or have not yet passed our check yet. In other parts of the world, there can still be exchangers, but our integration department daily works on this question to fix the situation and offer maximally full picture to our clients. If you are aware of some services which are not yet I our list, please send their names to our email [email protected] , we would highly appreciate this information.


We are happy you are in our brand support group on this forum, but please, do not confuse people, you are not a part of our staff. For our staff, there are strict ethical principles and rules for public communication with which you have not been acquainted, that is why BestChange cannot be liable for your messages. Please be careful in your wording when you call yourself a part of the team, this is not exactly so. Thank you for understanding.

I am not part of BestChange staff but let me try to answer  

Some definitely failed to meet the criteria, others might have got removed/suspended for various reasons, and of course there are those that don't bother getting listed on the exchanger.

For example, would Binance bother getting listed? I personally doubt.

As for measure of reliability, maybe to some degree, but it's the reason the platform has a feedback system. Such that users can carry out Due diligence for themselves before they use an exchanger.

It is definitely not an easy task to choose the platforms that can be added, especially since the information about them must be kept updated and not just verified before listing.
Given the large number of platforms in the market, the number of platforms listed on BestChange is relatively limited. Can you explain if the rest failed to meet the listing conditions or are not interested in listing? Can BestChange be considered a measure of reliability?
There is no doubt about BestChange's professionalism. I would just like to discuss it from the platforms angle point of view.

How to write reviews on BestChange correctly?

We thoroughly monitor your reviews and their processing, but what should you do if they are not published? Pay attention to these items:

✅ For a review to be displayed on the website, you must confirm it via email. An unblishished review is stored for a week, and afterwards, it gets deleted. Therefore, remember this nuance. We do it to combat spam.
✅ Insults and offensive words are not allowed in reviews. We also do not publish reviews of an advertising nature.
✅ The review text must not copy that of another one already on the website.
✅ Try always to write respectfully, even if you are leaving a claim. If you have received the funds, simply comment on the service’s work. If you have not received the funds and have left a claim, please lift it after the receipt of the funds, leaving a mark “cancel the claim” in the review’s comment and confirming the receipt of the funds as soon as you get them.

Write the truth calmly and in detail — this will help other users! We always care about the quick feedback on our website.

On what conditions are the exchangers added to the BestChange listing?

There is a large list of criteria we use to select reliable exchangers for adding to the monitor. It includes the duration of the service’s work, its reserves, timely transmitting of the rates, protected connection, and many more. The requirements are quite strict and allow to effectively weed out low-quality exchangers.

We would like to draw your attention to the facts that:

❌ We never accept fees for adding to the listing. If the service meets all the mentioned conditions, it can count on getting listed. There is no one-time fee for adding to the listing.

❌ We also do not accept deposits as a guarantee of reliability from exchangers.

We never get tired of reminding the owners of exchangers that if someone approached you with an offer to quickly add you to the BestChange listing for money, then these are definitely scammers. You must not give in to persuasion.

The priority in our work is the comfort and safety of users. And this can only be achieved by a high-quality selection of services that will be included in the listing.