Topic: Forget about exchanger search! Use BestChange! - page 21. (Read 12043 times)

It's not easy to create good feedback system with real reviews, and maybe this part should be somehow improved in BestChange to avoid fake review.
If we look what is needed to write a feedback for some exchange you can see that we only need to write our name, email address, our feedback with exchange order number and IP address is recorded and made public.

What can be improved here?

First you would need to prove that you are a real human (without sending any kyc or documentations) and that you are not some bot, then you should be able to add a screenshot proof in addition to order number.
Problem is when certain exchanges (like this HitBTC example) locks your account and they don't allow you to withdraw funds for whatever reasons and there are no order numbers, but you can see issue in screenshot or in Coingecko website.
I can also write other feedback about exchange unrelated to any orders, but it can be about bad customer support, website glitches, high fees etc. and all this needs some proof.

I think this feedback submission form should be improved:

Thanks for taking time to respond. LoyceV raised a legitimate concern. Mine's a bit different, just a few questions and concerns.

Do you think exchangers having control on their very own site and services' reviews is fine? Do you not find any conflict of interest in there?

Also, I am little bit concerned with this:


For me, reviews are there to show the track record of the exchanger. A bad review is a bad review and it should remain there regardless if it has already been addressed or not.

For instance, Client A raised a complaint because his funds are not yet received after a week's time. The exchanger responded and duly resolved the complaint. Case closed and complaint "completely removed from the page of the exchanger." A day later, Client B raised a similar complaint to the same exchanger. Exchanger responded, sent the funds, close the case, and completely removed the complaint from its page. While that was happening, Client C has experienced the same. Exchanger did the same thing. At the end of the day, no client was deprived of their funds. But the delays repeatedly happened.

I'm making this situational up to point out that a review should remain there whether as positive, negative, or neutral, or perhaps as a pending complaint. I guess it is a bit unfair for negative reviews to be changed to neutral or even completely removed simply because they were already addressed. A positive review, for all we know, might not anymore apply days later. Could we, then, change it to neutral as well?

Just my couple of Sats.

The script of an exchanger fixates all the information of an exchange order, including the order number, the sender wallet, and the recipient wallet; this information is sent to the user by mail.

It is supposed that we do not have fraudulent exchangers in the listing that would want to deceive users in such a way. And if any exchanger starts acting strange, we will get to the root of the situation and switch it off in time.

Let's suppose ExchangerE scammed me. I wanted to exchange CoinA for CoinB. I create a review:
ExchangeA responds:
And with this, my negative review doesn't show up anymore.

But: I never received my CoinB. Now it turns into "he said, she said". ExchangerA could even show a txid for the full amount on the CoinB chain, but I have no way to prove that address isn't mine.

Note: this works both ways too: the exchanger could be lying, but the user might also have made an illegitimate complaint.
How would this be handled?

Thank you, everyone, for your questions.

Every day our moderators analyze the reviews, the fake ones are being determined using a dozen of parameters and deleted. An exchanger caught on cheating is being warned. In case of further violations, more serious sanctions come into play.

If a user leaves a claim/complaint, it is highlighted red and requires the immediate attention of an exchanger. An exchanger can neutralize a claim if it is unjust and the funds were sent to the user in full. Our FAQ says:

According to the rules of the monitoring, the user has the right to leave complaints only in cases when the exchanger has not paid the money in due time. After the full amount has been received, the complaint must be taken down (leaving the review and the comments) or completely removed from the page of the exchanger. If you only want to express your opinion on the work of the exchanger, please use the "Comment" type of review.

We would like to point out that moderators follow the disputes and demand the exchanger not to take down the claim if it is just. We can get in touch with the users, and in case unlawful actions from the exchanger are detected, we can switch if off the monitor at all until the issue is resolved.

In the new version of the monitor, not only negative and positive reviews will be shown, but also neutral ones.

it is not necessary to use them but it is good to have information next to and then you can compare the exchange rate from "unknown" exchangers with big players. In my experience, a big difference compared to the big players means that these exchangers haven't small or not enough volume.
it is certainly useful to have such information.

I only checked the first one:

How exactly does this work? It looks like the claim gets cancelled the moment the exchange posts a reply, is that correct? That took first 6 and then 13 minutes only.
I'd love to see an official response on when exactly negative feedback is turned to neutral.

I wouldn't call it a popularity problem. My guess is people who want to use the big exchanges already know where to find them. They don't go through BestChange.

There are a lot of them actually.

Here's from CyberBTC:



Here's one from Magnatus:



Here's from MyCryptoMarket:



A few from ExchangeX:



Basically, these are all negative reviews. That, we cannot deny. However, I now understand that if you drop a feedback, you should specify whether it is positive or a complaint. If you just drop a negative review by way of a comment, which is unclassified as a complaint, it wouldn't appear as a red. It's just a neutral one.


Thanks for pointing this out. Yeah, the more popular ones are usually at the bottom and have 0 positive reviews.


They're all there; Bitfinex, Bitstamp, OkCoin, Gemini, CoinBase, Binance, and so on, although not popular.

I didn't even know the large exchanges are mentioned on BestChange, and I wouldn't use BestChange myself to find rates on one of the large exchanges. I did use it however to find where to exchange a small amount of a "weird" coin, and for that I used BestChange as a source to know the site is at least "a bit" reliable.

I've seen a -1, but my assumption was it got sorted out again later. I do hope this doesn't get censored.
[/quote]

I saw this, even all negatives refer to well-known cex exchanges.



The fact is if you check the top 10 on the list sorted by positive feedbacks



But none of them is not on the most popular exchangers statistics through BestChange monitoring. So, they have the most feedback, although they do not reach even 1% of the total exchanging traffic/popularity. They artificially pushed all those reviews or they have more loyal customers.

Can you share a link to an exchange with a negative review that doesn't show up?

I've seen a -1, but my assumption was it got sorted out again later. I do hope this doesn't get censored.

Just as I thought. But I asked the question nevertheless just to confirm, and because I noticed that there were negative reviews on certain exchangers and yet they've always got 0 under their negative reviews. I even read a few which cried of scam and the like but still it's always 0 over a certain number of positive reviews, some even reaching hundreds. As a matter of fact, I cannot see even a single exchanger which has a negative review. All of them got 0.

It's not really possible to stop fake reviews: even if BestChange would verify the user actually made an exchange, any site that wanted to increase their score could just make an exchange at their own site first, followed by the fake review.

Correct. Hover your mouse, and you'll see a red 0.

I also noticed that there are obviously fake reviews. Apparently, many of those one-liner reviews are fake. But I wonder, does BestChange screen or moderate reviews of their listed exchangers? I doubt they do.

However, the default ranking shown on the site does not tell us anything about the quality of the exchange, right? The rank is according to rates. Those which offer the best ones are on the top.

Anyway, what do the numbers under reviews signify? For example, 0/113. 113 is the number of reviews, right? I suppose the 0 refers to negative reviews? Am I right?

I've used your site many times since years, I think that if memory serves me since 2016 that I use your site and at that time I used your site to buy bitcoin, I no longer remember the sites that were on your site but when I was going to buy bitcoin using my bank account I used your BestChange and did KYC and the funds took 3 days to reach my payza account because at that time payza had this policy of reviewing the transaction for 3 days... but everything always it went very well and I was always satisfied.

even when I exchange paypal for bitcoin, I used sites that were listed on your monitor

in my opinion KYC is not always a bad thing and your monitor has always offered a good service

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a question that came to my mind when two months ago I used your website was:

7money.co is at the top with many positive reviews

but magnatus.com is older than cyberbtc.com and magnatus.com is in the top 7

how do you prevent fake reviews?

We have received the infromation form the exchanger that the user deepftuned has provided the required documentation and was refunded his funds. Please confirm.

We would like to note the KYC FAQ on our page:

Is going through AML/KYC procedure required in exchangers listed on BestChange?

Despite exchangers listed on BestChange not always have a special icon indicating the necessity of verification, a lot of them are obliged to comply with AML/KYC requirements according to which the client can be required to provide a set of documents shall his/her transaction deem suspicious. We advise you to carefully study the terms of service of the selected exchanger. AML/KYC policy is in line with international practices for combating money laundering. Exchangers listed on BestChange use these procedures to comply with AML/KYC requirements and not to abuse customer data or misappropriate their funds.

Here's the AML/KYC policy of the fox.exchange: https://fox.exchange/aml-kyc

The user's transaction was scanned and turned out to be suspicious, hence the request to go through KYC. In most cases when the transactions are scanned negativly for suspiciousness such KYC procedures are not required.

But your homepage say exactly the opposite. Just look at it tell us if there's anything honest about the information there. "Completely anonymous" and KYC/AML can never be on the same side.

And the there is this;

But now you are holding someone's deposit, aren't you?

Such misleading statements on your homepage is what attracts people who hate KYC to use your exchange and then end up falling for the KYC trap. If you are serious about KYC then be very clear about it right from the beginning and also remove the all the information that misleads people
 

Hello, Thanks for inviting us to the discussion.
 
Before you start the exchange there is a big check box that you need to click that you agree to the AML/KYC policy with the link to it. The AML/KYC is very short and clear and everything is stated there.
 
Every order is scanned for AML in order to keep a healthy trading environment and protect our users from receiving coins from suspicious activities.
 
It’s not reasonable that someone will want to trade on an exchange that doesn’t run AML checks and risk by getting coins from suspicious activities to the wallet, the labeled coins can become useless coins and they can jeopardize the other coins in the wallet.
 
We are sorry for the inconvenience but there are no shortcuts in compliance issues.

Had they responded to your queries? I have seen the Fox exchange still on your list. (For side note: there is no search button to find a specific exchange, I just use the browser find option. It would be better to add a search button on the site).

However the below quote drawn my attention,
The victim chose Fox exchange just because of its being monitored by BestChange. So I believe BestChange will take the right decision after discussion with the Fox exchange.

Hello deepftuned,

We have sent a request to the exchanger to clarify the situation and will keep you posted.

Thanks!