Topic: Forget about exchanger search! Use BestChange! - page 14. (Read 13341 times)

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.

Why are user reviews sometimes deleted?

The exchanger monitor’s administration reserves the right to remove some reviews in the following cases:
👉 if the review contains foul language, offending information;
👉 if the review is a copy of another one;
👉 if the reviews contain calls for war action, separatism, racism, class animosity, etc.;
👉 if the reviews contain advertising materials or were written by the user to gain some kind of profit;
👉 if the review contains any kind of information about smoking, alcohol, usage of drugs;
👉 if the reviews contain false information or user's untrue speculations.

We care about our users and are always very attentive about what you write. BestChange moderators work round the clock, studying each case and each issue. We welcome your reviews about exchangers you use. This is invaluable help to other users!

Additional features of BestChange

Today we are going to tell you about several useful features of the monitor that will help you in your work. You can use them after you have selected an exchange direction. Please pay attention to the buttons on top of the exchanger table:

💸 Inverse exchange. That is an instant change of exchange direction to the inverse one (for instance, you selected an Ethereum to Bitcoin direction, and clicking this button you will get a Bitcoin to Ethereum direction).

💸 Save. This button adds a direction on the top of the list that can be found in the tab “Popular” on the left. It is especially relevant if the direction is rare — you won’t need to waste time to find it each time.

💸 Discrepancy. A form to contact us will open and you can use it if you have found discrepancies between rates/reserves specified in the monitor and factual ones. Also, you can indicate here other discrepancies, for example, with manual/automatic exchange. Please write to us, it helps us become better.

💸 History. All your last visits of the exchanger websites. Rates and reserves that took place at the time of transition are indicated.

Finally, the “Settings” button will help you configure the appearance of the table to your liking: you can adjust the refresh rate, select the font, decimal separators, etc. Use the settings to make the site comfortable for you.

Why can you come across exchangers in our listing that have been working less than six months?

Let’s look at this situation in details. Many of you know that we have a number of rules which exchangers must meet when they are added to the monitor’s listing — https://www.bestchange.com/wiki/add.html

However, some exchangers fall under the exception:

- exchangers for which vouches an acting reliable partner of BestChange. It is important that it has positive reputation in our rating;
- exchangers that come from an an owner of a large internet-project, for instance, crypto exchange, p2p platform or a mining company.

That is why if you see a “young” exchanger in our listing, be sure that it has gone through a thorough diligence check. All potentials risks from their listing are smoothed by vouching for them by services with many years of excellent reputation.

BestChange.com cares for its users!

Thank you! This is a really handy function, it would be great to give an opportunity to “change their mind” to those who set the notifications with a large term. We will definitely pass on your request to the development team. We will implement it in the new version of the website.

I think that you have to manage everything else through the Telegram application. mute/disable etc... but this also seems fair to me, if the required deadline is really met when the notifications are stopped.
all unnecessary notifications can be very annoying and often needlessly distract attention.

I understand what happens with email option, but how exactly notifications work for telegram, and how can they be stopped?
You don't want to have people having notifications all the time, so they should know how to control them, enable and disable.
I see there is option to enable them on website and add specific time period, but maybe you should also add DISABLE option to cancel all notifications.

Why is the monitor the best helper for exchanging cryptocurrency?

Cryptocurrency is very volatile, its rate sometimes changes for the dozens of per cent in just hours. To always exchange at the most pleasant price possible, we suggest you use the BestChange monitor. Why it is convenient:

📈 A visual list of safe exchangers for each payment direction. We carefully select services worth adding to the listing. You can’t get here just by paying.

📈 Straightforward interface, all you need to do is to indicate the direction of exchange to see all the possible options and chose the most profitable out of them.

📈 On top of popular payment systems and cryptocurrencies, our monitor allows finding exchanger with more rare directions.

📈 Additional information. Every exchanger in the list has specified peculiarities, if it has them: for example, card verification requirement, obligatory registration, floating rates etc.

📈 The system of reviews and claims for every exchanger. In case a claim appears, the representatives of an exchanger must get in touch and solve the problem.

Haven’t found the rate or reserves you are looking for? Set notification s— we inform you by email or Telegram when a relevant offer appears.

BestChange monitor is your best helper in exchanging cryptocurrency and e-money. Here’s a few examples why it is indeed convenient to use our site.

- Almost all cryptocurrencies are highly volatile, sometimes their rate changes by dozens of per cent in a few ho
- All exchangers are thoroughly picked and pass due diligence check.
- Intuitive interface allows to quickly understand the site and immediately see possible options for an exchange.
-  If you need rare exchange directions, you can rely on us.
- In case of a claim, exchanger must quickly get in touch and solve the issue,

 If you haven’t found a satisfying rate or sufficient reserves, set up notifications for your email or Telegram as soon as a profitable offer appears — BestChange.com

No, of course, there are no such guarantees. In practice, such icons (or their absence) only indicate the degree of probability AML checks. That means if there is such an icon, the probability of it is very high or even 100%, and if there are no additional icons, it means that the checks are no systematic, i.e. they are carried out selectively under certain specific conditions (for example, based on the results of an express assessment of transaction sources).

As for mentioning in the website rules — this is a required condition both from a legal viewpoint and our position. If the exchanger hasn’t clearly specified in the rules the conditions of carrying out checks, they do not have the right to demand them. In practice, it doesn’t happen, usually exchange services bring their “website rules” in accordance with general standards.


Your claims are well-grounded, but they are not about the necessity to follow international norms. The fact that lots of companies around the world use very mediocre protection, store user data in unencrypted form, and most importantly do not bear any serious responsibility for leaks, is a topic for a separate discussion.

Until the world has come up with an alternative to the standard KYC procedure (although something interesting is happening around Polygon ID if it will be "fine-tuned" and scaled in the future), one has to take such risks, as with any other financial services around the world.

What about data leaks from banks, insurance companies, mobile operators, trading platforms, and payment systems? Quantitatively, there are even more of them than there are leaks from crypto exchanges and their counterparties, simply because the crypto industry is obviously more advanced and is "obsessed" with protection, and the organizations themselves are much smaller.

But we are in no way defending Binance and others, they took on the obligation to store the most valuable thing that their customers have, but they did not cope with this and should have been held accountable to the fullest extent. But the world has not yet rebuilt under the concept that personal data is most valued, for about the last 20 years inside Web2.0 it has been the hottest commodity, and until the mass adoption of Web3.0 principles, the safety of our data will be neglected, this is a fact.

However, all of the above is not a reason to ignore the principles of working with finance accepted by the world community. You do not prove to the bank that they do not have the moral right to check your passport in order to open an account? Motivating, for example, by the fact that Capital One was hacked in 2019.

So can you guarantee the exchange won't ask customers for any kyc verification documents if there isn't icon like this, and if there are no verification rules mentioned anywhere on exchange website terms?

We saw what happened with ''trusted'' centralized exchanges and how they keep customer documents ''safu''.
Didn't Binance leaked millions of customer passports with personal images that later ended up on some darknet forum, available in public for everyone to see.
In this case customers should trust one more third party, so there is much higher risk, because both of them can now leak information.

Do exchangers require KYC?

KYC (Know Your Customer) check is a widespread requirement of regulators which are trying to fight money laundering with the help of cryptocurrency. For sure, you have noticed that during the last 2–3 years this check has been introduced in more and more crypto services, including exchanges and wallets. And what about exchangers?

The majority of them do not yet require passing KYC. The BestChange monitor is trying to trace the services with an exception and mark them with a special icon. However, an exchanger can sometimes change their terms of service, so when creating an order for this or that payment direction you can be asked to verify your identity. If you don’t want to do that, simply select another exchanger for the same direction.

❗❗ We would like to remind you that it is important to read the terms of service of exchangers you use. This will help you avoid any surprises.

At the same time, we need to note that the verification in no way is a way of stealing the client’s data and using it illegally. This is just a necessity caused by the requirement of regulators, and a reliable exchanger will not give the information about the user to a third party.