Where is the best place to sell or buy cryptocurrency? Comparative analysis of the rates

Today we will consider the resources on which you can buy or sell cryptocurrency, we will evaluate their security, anonymity, functionality, reserve, the variability of payment methods and the exchange rate itself. There are a lot of options for exchanging cryptocurrencies, so we settled on 5 leaders in various niches in order to fully reflect the advantages and disadvantages of the entire segment.

Comparative analysis of the rates

As a comparative direction for all methods of buying and selling cryptocurrencies, we use the BTC/MasterCard USD exchange.

Classic Internet Exchangers

There are a lot of typical Internet exchangers, so we tried to analyze the exchanger with a high reserve of cryptocurrencies and fiat, which is in the top 10 according to reviews on Bestchange.ru. Our choice fell on paybis.com – a universal Internet exchanger working with three fiat currencies – USD, EUR, GBP. Despite the Paybis.com high rating reviews on TrustPilot (4.6/5.0), the system sins with a lack of exchange directions, which is rare for Internet exchanges, the absence of the Russian ruble, the presence of a huge number of pixels and codes on the web page, tracking user behavior. Mandatory registration with mail confuses, as well as the possibility of authorization through mail or social networks.  A definite advantage is high levels of limits in almost every direction, the presence of a referral program and a bonus system.

As you can see, as of December, 10 (17:00 GMT), the exchange rate of one bitcoin was 7011,3 USD, which is significantly lower than the actual rate of 7311,1 USD.

Advantages of classic online exchanges:

⁃ large reserves up to $100,000;

⁃ high upper limits up to $5000 for the first exchange;

⁃ available lower exchange threshold of $50;

⁃ functionality;

⁃ a variety of exchange directions;

⁃ the presence of referral programs and a bonus customer loyalty system.

The disadvantages of classic Internet exchangers:

⁃ dubious security;

⁃ lack of anonymity (pixels, counters, codes, personal data);

⁃ unprofitable exchange rate due to the commission of the exchanger and a possible change in the actual rate already upon the exchange;

⁃ long exchanges when buying a cryptocurrency (up to 25 hours on the first exchange).

Cryptocurrency exchanges

As an example, let’s consider the Exmo cryptocurrency exchange with its fairly loyal client verification policy (KYC) and favorable cryptocurrency exchange rates to fiat. In fact, after the sale of BTC on the exchange for USD, it is possible to withdraw funds in the following directions:

1. Payeer

2. Perfect Money

3. AdvCash

The current exchange rate on the Exmo exchange on November 23 (17:00 GMT):

However, when withdrawing funds in the amount of 760,2 USD from an exchange of 0.1 BTC, we pay a commission of 1.5%, and upon subsequent transfer to any USD card, or when removing from an AdvCash USD card, you must be prepared to lose at least 3% more and payment system fees 0.5%. In total, the final exchange rate will be 7262,92 USD.

Advantages of cryptocurrency exchanges:

⁃ lack of an upper limit of exchange;

⁃ available lower threshold;

⁃ profitable exchange rate;

⁃ functionality;

⁃ high security;

⁃ the presence of affiliate programs.

Disadvantages of cryptocurrency exchanges:

⁃ limited areas of withdrawal to fiat;

⁃ lack of anonymity (KYC, deep personal data);

⁃ Losses upon actual receipt of funds in the necessary fiat system.

Telegram bots

A fairly new phenomenon in the world of cryptocurrency exchange, which has a huge number of features. Let’s take SaleerBot as a reference with its simple and intuitive interface. Such an exchanger works on the principle of a guarantee in p2p transactions between two anonymous users. All transactions occur only inside the Telegram messenger, which allows achieving absolute confidentiality. Since the cost of supporting such a bot is minimal, and it is almost autonomous, the owners’ commissions are set close to zero. To avoid risks, here you can be attached to the exchange sources of exchange rates, and change only when an offer that suits you on the part of the buyer or seller of the cryptocurrency has appeared.

To see current exchanges and SaleerBot rates, just select “Sell” – “Bitcoin” – “Card to Card” – and select the number of coins to be sold.  After that, you can see the best offer, or optionally see all current offers in this direction:

Considering that you do not pay a commission when selling BTC, the entire amount in USD indicated during the exchange is credited to your account.  The actual rate is 7480,78 USD.

Telegram bot advantages:

⁃ complete anonymity;

⁃ profitable rate;

⁃ the ability to choose the lower and upper limit;

⁃ functionality and intuitive simplicity;

⁃ high security;

⁃ a variety of exchange directions;

⁃ the presence of referral programs, bonuses, and contests.

Disadvantages of Telegram bots:

⁃ 1% commission for cryptocurrency buyers;

⁃ inability to exchange a large amount in the absence of an offer;

⁃ possible absence of an online seller.

Licensed Services

Licensed cryptocurrency exchange services are somewhat similar to cryptocurrency exchanges, as they operate absolutely legally in accordance with the laws of the resident country. However, for the better, they are distinguished by functional flexibility and the ability to output directly to the card with all accompanying documents that will help to avoid tax burden for you. Such services are bitchange.online, operating in the legal field of Estonia and the EU, and bitpay.com, operating in the legal field of the United States.  BTC to USD exchange rate at bitchange.online:

Advantages of licensed services:

⁃ high upper limit of exchange;

⁃ absolute legality of all transactions;

⁃ profitable course;

⁃ high security;

⁃ the presence of affiliate programs.

Disadvantages of licensed services:

⁃ limited areas of withdrawal to fiat;

⁃ low functionality

⁃ lack of anonymity (personal data, pixels, retargeting scripts);

⁃ lengthy identity check (KYC).

P2P exchange services (for offline exchange of cryptocurrencies for cash in person)

You can exchange bitcoin for cash at the best rate in specialized P2P services or in various exchangers. However, the constant blocking of such resources, the regular change of domain names, mirrors, the complete lack of reviews and contact information makes us doubt the need to use such services, so we will refrain from recommendations. As a rule, the exchange rate is lower than the weighted average. As of December, 10 (17:00 GMT), it was equal to 6980 USD, while the average exchange rate was equal to 7311,1 USD.

Advantages of p2p cryptocurrency to cash exchange services:

⁃ flexibility of exchange conditions;

⁃ the opportunity to receive cash for an exchange.

Disadvantages of p2p cryptocurrency to cash exchange services:

⁃ high risks;

⁃ complete illegality of transactions;

⁃ low rate;

⁃ lack of anonymity.

Conclusion

The best result to conclude our article is to compare the actual exchange rate for exchanging BTC to MasterCard USD in various services:

Actual rate: 7311,1 USD;

Classic Internet Exchangers: 7011,3 USD;

Cryptocurrency exchanges: 7262,92 USD;

Telegram bots: 7480,78 USD;

Licensed Services: 7207,55 USD;

P2P exchange services: 6980,00 USD.

Telegram bots win with a clear advantage when exchanging BTC for Mastercard/VISA USD. The advantages of SaleerBot and other services of anonymous p2p exchange in Telegram and other exchange directions will be similar. If you need the absolute legality of transactions with cryptocurrency with all accompanying documents, then use the licensed services.