Topic: Forget about exchanger search! Use BestChange! - page 14. (Read 13529 times)

That's still not a reason to hand over KYC documents to many different websites. It's the opposite: share it as little as possible.
I'm not hiding from my bank, nor from my government. I'm hiding from the rest of the internet.

Of course, and this is right. If you pay in bitcoin for goods and services, most often, you won’t be asked to go through KYC-procedures. But if you transfer bitcoin into fiat, exactly at this moment, at the “point of entry”, they are obliged to ask for your data. Here is your choice, either to day in the “world of blockchain” or to go to fiat, but disclose your data.

We don’t see a problem here. We wrote about it higher up.


In order to withdraw pseudo-anonymous bitcoin to the bank card, to open which you told everything about your life? If you don’t buy for cash, we have bad news for you — if somebody gets interested in you, you will be traced by your account details without additional verifications.

I'm not worried about someone using my bank account to order a plane ticket, they'll get caught at the airport.
If, however, someone uses my bank account to buy Bitcoin, the money is gone.
Ordering food or many other items doesn't require any of my documents. I pay, and they ship my order to the address I gave them. That's much less of a privacy invasion than foreign entities that ask for documents without even sharing their own identity.

My computer can't even access social media

I'm still using instant exchangers without KYC, and that works just fine.

I pay with cash most of the times including for food deliveries and anything else, and nobody can ''hack'' my cash payment anywhere.
Only time I buy something with digital fiat money is when I buy stuff from online from other countries and continents.

Sure there is alternative, I can pay anyone with cash or bitcoin without any KYC crap, and there will be no trace who made payments.
KYC leaks on fiat bankster system is  happening much less, but don't you watch they are trying to announce global cyber attacks for some time, so I don't see why would I defend this system in any way.

Not if they don't know identity that is connected with addresses I used, or if I am like CZ kissing ass to regulators.

They won't come for anyone if KYC verification is not done, and I didn't say we should close our eyes, but we shouldn't openly support this narrative.

I gave you one working alternative people use now, but you decided to close your eyes, and made up some excuses, like it's not really decentralized etc.

Do you have a bank account or do you use exclusively cash? Don’t you fly by plane? Don’t you order food delivery etc.? Why do you have such a biased attitude to KYC from crypto projects, although statistically there are more data leaks in other businesses, including from banks themselves or their partners. Not to mention social media and services.

Data leaks of the passed KYC procedures are terrible! But what can you offer as an alternative? “Nothing" is not an answer, it is an unrealizable dream. Today it is the basis of the modern economy. So far, they have not come up with another way to evaluate confidence in counterparties; to say that "we will not go through KYC, because Satoshi Nakomoto bequeathed it to us", these are stupid things or reasoning of young maximalists.


We spoke not about “dirty” bitcoins but about a “dirty” transfer of fiat currency. Although the problem of “dirt” is relevant for both ecosystems. But in the world of fiat currencies, it’s easier to prove your non-participation in a conditional bank robbery, even if you paid with marked bills. In the world of blockchain, you will be blamed for all the crimes that the coin that came to the exchange from your wallet managed to get into.

This is a problem, and it needs to be solved. Ignoring strategy is a stupid one. When the officers of the secret service come to you, it will no longer be possible to close your eyes with your hands and say "There is no ''clean'' and ''dirty'' Bitcoin" so that they simply dissolve.

You criticize existing practices but do not propose a solution except to ignore laws because "crypto is above the law." This does not benefit the community and does not bring us closer to the protected alternative to the outdated KYC.

That's even more reason not to go through KYC. A criminal who gains access could use your own bank account and your own exchange account to buy Bitcoin and disappear.

Bisq is the only real decentralized exchange, because you must download open source software and install it on your computer, there is no middle-man and servers.
This means you can use it for exchanging with other people p2p, and deposit

There is no ''clean'' and ''dirty'' Bitcoin on Bisq, all Bitcoin is equal.
Can you guarantee that FBI or Russian FSB won't break in someone doors using exchangers listed on Best Change website?
This was never reported to happen with Bisq and you can always choose how you want to receive fiat money, face to face cash or something else.

Nobody is forcing you to exchange Bitcoin with fiat money, but Bisq offers freedom to choose whatever you want.

What is a card verification and what’s it for?

The BestChange monitor tries to warn users if this or that exchanger requests verification of a bank card. This demand is not a frequent one, but still, pay attention to it if it is important for you. It’s easy to notice it — a round green mark with a schematic card next to the name of the exchanger.

The card verification is needed to confirm that you are its owner and complicate the life of fraudsters who use other people’s means of payment.

What data you need to provide:

🔑 Card number (at least, the first and the last four digits).

🔑 The name of the holder.

🔑 The photo of the card with the exchanger website or a paper with its URL on the background.

Is it safe? You can send the specified data without worries, they will not give potential fraudsters any benefit, even if they get hold of the photo (for example, in case the exchanger is hacked). You must cover the expiration date of the card and the CVC code on the photo, if it is indicated on the same side as the number, like cards from YooMoney. You don’t need to show the other side of the card.

The duration of the card verification depends on the business of the operators. Usually, it happens during one day.

Thank you for the information about an interesting project, it’s embarrassing, but we haven’t heard specifically about Bisq in the context of DEX. A quick acquaintance with the project showed that they, unlike most DEX, work with fiat currencies. It turns out they are rather not a decentralized exchanger, but rather a decentralized p2p platform? Then the question of trust between knots emerges once again.

Let’s suggest that the system of transfer conformation can be implemented technically in this or that way, but what to do with accessing the safety of fiat transactions? What guarantees are there that the FBI won’t break in my door tomorrow because I received a transfer on my card from a drug dealer or kidnapper who decided to exchange dirty money for clean bitcoin through a conditional Bisq that asks no questions?

We will still keep our opinion that the world of decentralized cryptocurrencies and the world of fiat are two different ecosystems; each has its own rules, norms, risks and procedures. These two different worlds must exist separately from each other and cross only when absolutely necessary. And if a person would want to transfer assets from one ecosystem to another, then they will have to give up "on the threshold" of all the features of the previous system. That is, if fiat is being transferred to cryptocurrencies, you need to forget about governmental legal and financial protection; if cryptocurrencies are being transferred to fiat, you need to forget about anonymity and no censorship.

And trying to transfer the principles of decentralization into the world of fiat currencies is a rather utopian idea of romantics with youthful maximalism and not our "bright future". It is better to develop alternative economics rather than teach bankers to keep our personal data correctly. We would be happy to buy everything only for cryptocurrency had the business in the whole world allowed us to do so!

Undoubtedly, KYC is evil and the crypto community hates it. Me included.

But if you look from the other side. How can exchange service admins organize their work in such a way that there is no fraud and deceit? For example, buying crypto with stolen bank cards.

How would you react if your card details (or close relatives and friends) were stolen and used to buy crypto on the p2p trading alternatives and decentralized exchanges like Bisq that don't have any KYC verification procedures? I don't know if there is any protection against this on platforms like Bisq.

There are p2p trading alternatives and decentralized exchanges like Bisq that don't have any KYC verification procedures.
I understand that running big centralized exchanges like Binance and others is almost impossible nowadays without some kind of KYC, but look what happened with FTX and similar examples.
Documents leaked from ''safu'' Binance, coins got seized from ''trusted'' FTX and who knows what else is happening behind the scenes.

It’s about exchangers in our listing, although the data can be requested by custodial services in which they keep their cryptocurrency. We would like to quote our reply to a similar question asked earlier:


What do you suggest as an alternative to standard KYC-procedures?

What exactly is ''reliable'' exchanger? Ones that are listed on BestChnage website or Binance maybe?!
They don't have to give them directly, they can easily get hacked like Binance did and all information will end up being sold and released in public.
Since many of exchanges listed on BestChange website are already using third party exchanges, risk is much higher if customers send them kyc documentation.
Nobody knows what really happens when documents are sent and if they are being protected or how... no guarantees at all.
If something goes wrong, customers will receive banana apology from safu ''reliable exchanger''  

Do exchangers require passing the KYC procedure?

✅ What is the KYC procedure?
Know Your Customer obliges all financial institutions, including cryptocurrency exchanges, to identify and verify the identity of each client. And this happens before they can conduct financial transactions. This protects companies against the risk of working with fraudsters and terrorists, and provides safety of the client’s assets. Some time ago, this was only the internal policy of each company, but for about 5 years KYC has become established as a clear legal practice.

✅ What about exchangers?
The majority of them do not require passing KYC yet. We are doing our best to track the services which are an exclusion to the rule and mark them with a special icon. Exchangers sometimes change their terms of service, sometimes when creating an order, you may be asked to verify your identity. If you don’t want to do that, simply pick another exchanger for the same direction.

❗Verification is not a way to steal customer data and use it for illegal purposes. This is just a necessity caused by the requirement of the regulators, and a reliable exchanger will never give the customer date to the third persons.

BestChange.com is your reliable partner in your search for the best e-money and cryptocurrency exchange rates.

How can you select a suitable exchanger?

On our monitor, we are trying to consider all the indicators that can be meaningful for the user. The rate is not always the most crucial thing. You also need to take into account minimal limits, reserves, requirements to the user, reputation and a lot of other things.

What you need to pay attention to when choosing an exchanger via BestChange:

✅ Duration of work and the number of positive reviews. We pay special attention to the reviews on our site to make sure they are confirmed by real people and so that representatives of exchangers respond to the claims in a timely manner.

✅ Total reserves. The higher this indicator, the more likely that the exchanger is serious and will work stably.

✅ Rating in payment systems (WebMoney, Perfect Money etc.), as well as the rating of the site in MyWOT.

✅ Statistics — the most popular payment directions in an exchanger and their demand dynamics.

✅ Additional features, the most important of which can be immediately seen in the list in the form of green circles next to the exchanger’s name. Here is the method of processing the order (manual/semi-automatic), the type of commission (fixed/floating), and much more.

Choose attentively, and then your every exchange will be profitable and smooth.

How to make an exchange for cash?

Sometimes it is more convenient to buy or sell cryptocurrency for cash. Thanks to that, you get 100 per cent anonymity, because it is maximally difficult to track the cash transfer than card operations.

To use this exchange option:

👉 You need to select cash in the payment direction on BestChange.com, above the drop-down list, enter your city.
👉 Select an exchanger, taking into consideration the rate, reserve, verification requirements and other parameters, and then go to its website.
👉 Enter the required amount and other details into the field.
👉 Then write to the chat of the exchanger, informing the operator the number of your order. And, most importantly, agree on the date and time of a meeting with the delivery person or visiting the office.

When you visit the office, you will give cash and receive cryptocurrency, or vice versa.
☝ It is important that in this case the rate is fixed at the moment of exchange.
In general, exchangers support the world’s popular currencies — dollars, euro, hryvnias, Belorussian rubles etc. When selecting an exchanger, make sure it does provide this service.

What is a floating exchange rate?

Selecting an exchanger on BestChange, you can notice that some of them have a “This exchanger does not fix the exchange rate in the order” mark. Let’s see what this means for the user.

This mark can be set in two cases:

🔒 If the trading pair is very volatile. In this case, the exchanger sets a short lifetime of the order or a maximal allowable percentage of deviation to insure against sharp fluctuations in the exchange rate. When going beyond these limits, the rate will be recalculated up or down.

🔒 If an order can take a long time — for instance, for cases with cash or during a high load of the cryptocurrency blockchain. In this case, the exchanger recalculates the amount at the rate that took place at the moment of closing the deal.

Some exchangers set a specific time limit (for example, 10 minutes), during which the rate will be fixed. If the order hasn’t been paid for during this time, then the fixing of the rate is canceled. Also, sometimes, the rate gets reviewed only after a considerable change in the market rate of the currency. Say, by 5%.

A decent exchanger must specify the relevant information at the stage of creating an order — conditions for the rate change, the number of the network confirmations for cryptocurrencies, the conditions for rate formation (for example, at the indices of this or that exchange), maximal amount of recalculation of the final amount, etc.

Firstly, we would like to note that the majority of the website elements have explanations. If you hover your mouse over the element and wait a bit, a hint will appear:



And we would like to divide the very question to several points.

1. Any exchanger is present only at the versions of the website the support in the language of which it is ready to provide. Earlier we had written about it:


2. Despite the fact that their profile is still in the catalogue, we do not show them for any exchange direction in cast it has a status different from "Paбoтaeт" ("Available"). Some if the exchangers not shown in usual results due to technical reasons, can be found in the general list, however the websites switched off by our moderators won’t be shown them. It is mainly done so the users could have an option to leave reviews and have a dialogue in claims.

3.  We do not publicly announce the reason for switching off, often it can be a temporality misunderstanding or an active unsettled claim from a user. If there are at least potential risks of not fulfilling obligations in regards of us or users, we exclude exchangers from the listing. And return them in active stated after they have solved the problem and eliminated the reason for the risk.

4. If an exchanger, in our opinion, cannot be restored in the listing, we add a label “Warning! It may be unsafe to use this exchanger. Lots of complaints from clients, no response from the administration.”

I just find the ANN thread of one exchanger monitoring by BestChange, bit-changer.cc
although some things here confuse me. I can't find their name on Bestchange English version site, only on .ru. Ok, maybe that's explainable if they do business only with users from Russia.
on their feedback page with you, there is a mark that they are "oтключeн" (disabled). what exactly does that label mean, given that they are still on the site, and it is also open for users to leave feedback about them?
If for some reason they are disabled by you, why are they still actively on your monitoring and where can we see the reason for their exclusion?


https://www.bestchange.ru/bit-changer-exchanger.html

Order processing modes of exchangers

🔑 There are many factors influencing the speed and reliability of an exchanger. One of them is its principle of processing orders. It can be manual, automatic or semi-automatic. On BestChange you will find all these varieties if they meet the other rules of getting into the listing.

📌 Manual. Each order is manually checked by an operator after which the employee transfers the funds to the specified payment details. This process can take time — up to a day, depending on busyness of operators and exchange rules.

📌 Semi-automatic. After the user has paid for the order, the requested funds are transferred to him to the specified payment details. The speed of a transfer depends on the bank of blockchain network. In this case, the function of an operator is only to manually confirm the receipts of funds and transfer the order to the next stage of the automated transfer system.

📌 Automatic. Works on predefined templates, thanks to which the exchange takes place almost instantly and in a few clicks. The role of operators is only to provide technical support to users. This is the fastest option.

In our monitor, we list both automatic and semi-automatic exchangers. As a rule, information about the mode is indicated in a round mark next to the name of the exchanger in the list. If you notice that the information isn’t correct, please let us know.