Topic: Forget about exchanger search! Use BestChange! - page 18. (Read 13598 times)

as far as I have noticed so far, it is more than important for all exchangers to have a good reputation there. "Expired" as the possibility to clean up their biography will perhaps force them to work more carefully and treat new customers better within that certain period of time.


I believe that all non-existent pages lead to the home page.
here there will always be exchangers who will present themselves as Bestchange's partner. I believe that few users check the truth of this statement before the exchange itself.

@Best_Change, May I make a suggestion.

On the website, you may create an announcement section for exchanger listings and delistings just like what you see on exchanges (announcements for coin listings) rather than making partnership announcements only on Bitcointalk. This would be very helpful in knowing and tracking when an exchanger was listed and delisted not only to members in this forum but also outsiders who may not know about the partnership announcements here.

I see so many exchangers bearing the BestChange logo, but it's hard to know whether they were listed or delisted before. Some could just be scams using your logo.

Like in this example (Crypto-go.com), the exchanger even has a link embedded under bestchange logo, but it just leads to the homepage of bestchange
Link

I think this isn't the first time that BestChange's review or feedback system is put into question. There must have already been a discussion on this sometime ago. It's just that I cannot remember if changes or improvements were made after that. But if the exchangers still have that ability to remove negative comments until now, then I guess not much has changed.

For transparency's sake, why put expiry on negative comments? It is enough that the exchange could reply "Resolved!" to that comment. And if that response is fake, then the user can also reply. If the exchange has greatly improved through the years, then that negative comment would be buried in positive comments. If nothing has improved, then similar comments would surface and a pattern is formed. But this is always good for the welfare of BestChange's clients.

Let me bump this thread.

What do we conclude from the Openchange drama? I would say that BestChange needs to think about two much-needed improvements on its platform.

obviously, the rating system is not well resolved, and the removal of comments by exchangers is not the happiest solution. maybe we could discuss here the possible best feasible solution for that.
For example, I would introduce orange marks for conflicting but resolved trades. Also, maybe the red mark can have a time limit, so if the exchanger does not make any more negative "mistakes" within years or two(just for example), he will be removed. in theory, it can be considered accidental.

what you should definitely think about is the ANN thread here on the forum for all of your exchangers. So, in addition to all the conditions you set before them, force them to have a thread here as well as a communication channel. (I remember that it used to be a condition for every coin that wanted to be listed on CMC)
it can get you out of the awkward position of an intermediary.
it might even make the rating system easier for you because there would be an uncensored discussion somewhere.

Formally, yes, the majority of exchangers use custodial wallets to receive the funds from the clients. And such services oftentimes have AML-checks, because they work, inter alia, with dollars and euro. This is not some kind of exception, this is a common practice for the entire OTC segment, it is rare to see the use of non-custodial wallets without automatic conversion to stablecoins, this is contrary to common sense in the principles of exchange services.

I still don't get it. Does this mean Janyiah sent his Bitcoin to a third party, and not to OpenChange? Who thought this is a good idea?

It’s correct, every bitcoin token is equal to any bitcoin token. But you are missing one important detail.
You are talking about decentralization in the context of centralized services. This is a substitution of concepts and a false idea. When it comes to bitcoin within the cryptocurrency ecosystem, no one will ever, under any circumstances, be able to censor (cancel, freeze, reject) your transactions in non-custodial wallets. But when it comes to trying to exchange bitcoin for dollars and/or buying something in KYC jurisdictions, you will have to follow the laws that apply to dollars and those jurisdictions. Bitcoin loses its decentralization as soon as you send tokens to a custodial service operating in this or that jurisdiction.


In this case “the exchange” is a custodial service which uses OpenChange to receive funds. That’s why although practically the funds were transferred within crypto wallets, but the accrual to the inner balance of OpenChange in this custodial service didn’t happened because of the highest AML-risk.




Thank you for having paid attention to this problem. But we would like to remind you that we don’t have “negative reviews”, we only have “financial claims”. This is why we have an automatic system that switches the exchanger off when it has several active claims. We understand that this is a somewhat old-fashioned scheme of work with financial claims, but it was implemented for the sake of protection from "consumer terrorism" in the absence of our moderators.

Currently, our staff number has increased sufficiently to process the majority of these cases manually, that’s why we are already working on changing this system — soon exchangers will have a very limited number of attempts to lift a claim on their own, without our interference. Please wait for this update, we are already thinking about all the details.

This needs to be changed asap and it's impossible that rating system is showing only positive feedback from all customers for all websites, that is not happening even for best exchanges in ideal situations.
From my observation I could only found total of 9 exchanges with negative feedback from 245 exchanges, and most negatives are for big centralized exchanges (Kraken, Binance, Okex, Bittrex, Hitbtc) that don't care to reply anything.
This is unacceptable, and in my opinion openchange deserves negative feedback because they don't want to refund coins without kyc.

I remember I used bestchange a year ago to exchange something from one if the sites they publish.  The site didn't send my money for a day so went and put a bad review after that the site came replied my review then automatically the bad review is gone.
All it takes to remove a bad review is just the site owners to respond no matter what automatically it will be gone.
So i guess the op is correct from my experience too.

Question @Best_Change:
Is this true? If so, that makes the review system worthless, but it does explain why there are no persistent negative reviews on any of the exchanges you've listed.
If this is indeed true, can you publish this as a warning in bold on the review page? It seems misleading to omit this.

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Second question @Best_Change: Can you clarify the bold part in your comment?
From Janyiah's feedback:
Who is "the exchange" who didn't receive the funds but froze it anyway? You make it sound as if the exchanger doesn't own the deposit address they ask the user to send funds to (but again: they froze it anyway).

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.