Topic: Forget about exchanger search! Use BestChange! - page 14. (Read 12043 times)

Please check my threads:

SCAM EXCHANGE: Openchange (Openchange.cash)

and

SCAM EXCHANGE MONITOR: BestChange

Unfortunately, it does threaten the integrity of Bitcoin.  Lack of fungibility is corrosive to confidence in a currency.  If some units of currency have “taint”, others don’t, and the only way to tell the difference is to pay for the “analysis” of corrupt private companies that are essentially enemies of Bitcoin, then the currency just is not very useful as money.  In the long term, this is one of the biggest existential threats to Bitcoin’s value—even to its basic viability.

But don’t take my word for it.  Here is a good explainer of fungibility from a February 9, 2014 talk by Dr. Adam Back, the CEO and co-founder of Blockstream:

https://youtu.be/3dAdI3Gzodo?t=47

Dr. Back later speaks of Bitcoin, then of “taint”:

https://youtu.be/3dAdI3Gzodo?t=1379

This video is old, and much of the technological information is outdated.  But the basic issues remain the same.

I rarely cite a video, but this is a good one; and the link helps to avoid a lengthy tangential exposition in your thread.  Here, I will simply conclude that “coin taint” is an illusion.  If you believe that such a thing exists, then you have been bamboozled.  Avoid services that pretend there is such a thing as a “tainted” bitcoin—and in the long term, please support any competent efforts to add to Bitcoin what Dr. Back says on one of his slides:

“Idealized cryptographic ecash aims to enforce fungibility via indistinguishability rather than law... trust in mathematics over law”.

Calculator function on BestChange — how to use it to find the best deals

The monitor offers a convenient option of a calculator — you can use it if you want to get familiar with the rates and other conditions of the exchanger. Firstly, select a payment direction (the currency you give and receive). Then select the tab “Calculator” over the table.

Further steps are very easy and straightforward:

✅ Select the option “Receive” or “Get”. It depends on what currency you need to learn the result.

✅ Enter the amount of exchange you have in mind.

✅ From the drop-down list, select the suitable option — whether or not to consider the commissions of the payment systems. We recommend considering the commission, this way you will receive a more accurate calculation.

After clicking the Calculate button, in the table, you will see specific amounts you will need to give to conduct a deal. This way you can count on finding the most profitable exchanger than without the calculator, that’s why we recommend using it. We always keep up the relevance and timely updating of rates/reserves of exchangers so that you don’t miss a convenient moment for your deal.

All about BestChange notifications

We decided to elaborate about BestChange notifications — it came to our knowledge that not everyone knows about this convenient option and use it. Meanwhile, you can considerably increase the profitability of your exchanges if you set up notifications about profitable conditions. We give an opportunity to set specific rates and reserves, and when a relevant offer appears, we will receive a notification in Telegram or email.

The main situations when it’s handy:

🔔 For the exchange direction you need, there are currently no available exchangers, and you would like to be notified when they appear.

🔔 You are in no hurry but would like to make an exchange at the most profitable rate.

🔔 Exchanger that suits you by all parameters does not have enough reserves at the moment.

Also, exchanger owners use this option to monitor rates that their competitors have. Notifications come to Telegram from the account @bestchange_bot, or by email from [email protected]. We recommend you add these addresses to the contact list so that the messages won’t get blocked by antispam at a critical moment.

Please understand that AML does not threaten the integrity of the bitcoin ecosystem as such, but it only limits the work with gateways between the traditional financial system and the crypto world. Whether you like it or not, but if you want to exchange bitcoin to dollars, you need to kindly follow the rules for handling dollars, and they mean a tough policy of AML legislation in many countries of the world. With that, if you are making deals within a crypto community, then nobody and never will be able to censor your operations, this is the essence of decentralization.

But you want to shift the principles of decentralization to centralized services, such as exchanges, exchangers and simple shops operating in KYC-enabled jurisdictions. Such a position is quite popular and understandable but fundamentally wrong.

Instead of a conclusion: you can use bitcoin within the community and not try exchanging it to fiat currency, then you won’t have to complain about “AML-discrimination”.

It is rare to find a company that survives for that long, and yet it is still developing.

This means that your team is cohesive and has a good background in administrative, marketing and technical matters, so I congratulate you and hope to see your presence there for as long as possible.

What are the big changes that the company has gone through over these years, 15 years is not a short period, and this means that you are ready before Satoshi writes the white paper, and what is your view of the coming period, especially with the economic pessimism about a possible recession.

On June, 19 our company celebrated a bright event — its 15th anniversary!

We would like to express our gratitude for your support, for recommending our service, for its wide-scale promotion, and for your activity. It’s hard to over-evaluate the input into the service development by anyone who has at least once used it. We would like to congratulate all partners, colleagues and social network subscribers. The success we are proud of would be impossible without your assistance.

Over the years, thanks to your support, we have made a worthy alternative to crypto exchanges and p2p platforms, which we are incredibly happy about. On behalf of the entire BestChange.com team, we wish you good luck, self-confidence, perseverance to reach new heights, great successes, colossal achievements, more ups, fewer falls, so that you are always favored by a fair wind!

Witty.  The “NF” in “NFT” stands for Non-Fungible, so you clearly are not so thoughtless about this as some people.

Regardless, everyone needs to be informed that the absurd notion of so-called “taint” is an existential threat to Bitcoin.

It literally means that 1 BTC ≠ 1 BTC.

Best_Change, I am not inclined to open a debate about this in your thread.  I’m not here to start an argument with you.  I hereby express no opinion either way about your service in itself, which I have not evaluated.

I speak out because the “coin taint” delusion is a cancer which continues to grow, as long as people give no pushback.  People need to boycott services that peddle the “coin taint” lie; such services are untrustworthy and destructive to Bitcoin.  People need to speak out, as I am doing here.  “Coin taint” is only taking hold because its perpetrators are skilled propagandists, who make an obscene pretense of having some sort of moral high ground.  The “tainting” of coins is wrong—it is outrageous—someone needs to call out the Emperor‘s New Clothes here.

The exchanger doesn’t transfer money — when is it time to worry?

Exchanging money, especially large amounts, the user quite rightly worries if they do not receive them within a few minutes. It’s understandable, but we would like to relieve you a little bit — not always a delay means you have faced a scammer.

For starters, please wait a little bit. If you are exchanging cryptocurrency, in particular, bitcoin, then the speed of the payment entirely depends on the blockchain load. In this case, the transfer can take up to an hour, but in the end, you will receive your money. Moreover, pay attention to the working hours of the exchanger. Not all operate around the clock, some have breaks and days off. Accordingly, you will have to wait until the start of the working day.

If quite some time has passed, but you still haven’t received the payment (and you are absolutely sure that you have specified the correct details), then write to the exchanger support. They will definitely help, and you will receive your hard-earned money. The majority of exchangers have a built-in chat which is very convenient, you don’t have to send an email. Please pay attention that operators also reply only during in-office hours.

⌛ And lastly: if you have chosen an exchanger through the BestChange monitor, there is no reason to worry — the problem will definitely be solved, we add only high-quality services to the listing. You can write a complaining review, and the exchanger representatives will respond to it. The claim will be lifted only after you receive your money.

This idea was discussed within the framework of long-term development, but it won’t be implemented in the near future for sure. As Bitcoin_Arean rightfully pointed out, we are not an aggregator in the financial sense, we work on the principles of “search aggregators” - we only provide the possibility to compare offers on hundreds of sites in real-time, but we do not participate in financial transactions.

Possibly, we will implement something similar in the form of “express exchange” much later on, but for this, a substantial fine-tuning on the very exchangers will be needed. This is a long and time-consuming task, certainly not for the coming years. But thank you for your interest, we will keep it in mind that such a request from clients exists on the market.

The difference is Changelly.com is an exchange or sort of exchange, while BestChange is just an exchanger monitor. They are not involved in any form of exchanging assets, except displaying and comparing different exchange offers.

So it would defeat the whole purpose of BestChange if it offered services like Changelly's

I would say it would be a much more complicated path. The biggest advantage of BestChange is that you can easily see the relationship between the two currencies you change, but at the same time on 250+ exchangers. Plus other info like yes or no KYC, rating etc...
a widget like you suggest would have to be very bulky. For any information, the user should have additional action.

Are there any plans to include direct transfer between cryptocurrencies? A Widget (GUI) allows the user to directly exchanges using APIs, then choose the platform and transfer instead of visiting the platform link.

Something like what changelly.com offer with many wallets like exodus and trust wallet

Advantages of exchangers for buying and selling currency

You can buy and sell digital currency in several different ways — with the help of trading exchanges, peer-to-peer platforms, wallets, and payment systems. But, without a doubt, exchangers are the most popular method for quick and profitable transactions in any direction.

Why is it so?

✅ It is maximally easy. Especially if you use the BestChange monitor, which will track all rates and reserves, you will only have to select the best option out of offered ones.

✅ It is anonymous. Almost nowhere identity verification is required, sometimes there is card verification.

✅ It is quick. While on an exchange it can take a lot of time to transfer and withdraw funds, exchangers instantly transfer money from their own accounts.

✅ It allows to save up. There are profitable discount systems, as well as additional opportunities to earn through a referral program.

With the development of cryptocurrency, exchangers are even in higher demand — today, it’s cryptocurrency directions that are the most popular. BestChange statistic shows that most often, users exchange Bitcoin to Visa/MasterCard USD and vice versa.

In most cases, the issue is connected with unavailability for our parser to access the file containing exchange rates the exchanger produces. There are many possible reasons for such situation to occur, but all of them lay upon the exchanger's or hosting's side (considering the fact that the other 400+ exchangers continue to display exchange rates correctly). In case our software is unable to correctly access the exchanger's website or to process the information produced, we do not display such data and set its status to "unavailable", although the website itself may remain accessible to users.

Is this technical issues on your side or something is wrong with original exchange website?
I tried contacting support for one of the websites that was unavailable on BestChange website and I couldn't get a clear answer from their support.
Maybe they don't speak english language very well, but I asked them a clear question, so there is no reason to avoid answering me.

⚠ Types of fraud in online exchangers

Unfortunately, there are a lot of threat actors on the internet who dream of getting hold of others' money. First and foremost, of those inexperienced ones who have not yet learnt how to tell a legit service from a fraudulent one. How can you get scammed in an exchanger? There can be several scenarios.

❌ The most straightforward one – simply not send you the funds. Such websites receive payments to anonymous wallets and disappear from the radar. Naturally, in some time, there appears a lot of negative reviews about them, and the flow of clients runs dry, and then they simply create a new domain and continue their activity.
❌ Set too high rates. The market rates of currency, especially cryptocurrency, change every second. It is hard to track them, and this is what fraudulent exchangers use. They take significantly more than the stated commission, hoping for the user's inattentiveness or gullibility.
❌ Promise the moon. Some threat actors prefer using the people's wish to earn. They promise to earn on currency exchange, using an insignificant difference of rates in different payment systems, but as a result, the user is fooled.
❌ Catch with the help of phishing. It's enough to make a website that looks like a popular exchanger or an exchanger, the domain with a similar name, and because of inattentiveness, a person can enter there their data from real accounts.

How can you protect yourself? BestChange monitor guards the interests of users. For many years we have been gathering accurate information about legit exchangers, tracking rates for all payment directions. We urge users to use the monitor for each exchange to not miss out on the benefits.

The exchangers in our monitor can have the following statuses:

Disabled – if the monitor has switched off the exchanger due to some reasons, including technical issues.

Not active – if the exchanger administrator switched the exchanger off the monitor due to this or that reason.

Unavailable – when the rates of an exchanger are temporarily unavailable due to technical issues.

We recommend that you use exchangers with the status “Active”.

Thank you for your suggestion. We will consider it and may implement it in the future. Thank you for your contribution to making our service better!

Can you please tell me what does it mean when some exchange is showing UNAVAILABLE status on your website, but their website is working fine at the same time?

My suggestion for changing your website is to add additional settings option in Exchange Monitor, if I want to track only specific payment methods interesting to me, and hide everything else.

Thank you for your suggestion, we may implement this feature in the future.

We are constantly improving our service that is why your opinion is very important for us.

Thanks for your comments, you are helping make our service even better!