Why you should not trust the bestchange.com rating

Everyone who regularly encounters an exchange of cryptocurrencies must have used the bestchange.com aggregator.  A convenient platform with thousands of exchange directions, based on data from exchangers, provides up-to-date information for the maximum profitable “here and now” exchange.  The current rate, exchanger rating, reviews, currency reserve, it would seem, everything is as transparent, convenient and profitable as possible. However, is it really so? Let’s get it right.

Having officially suspended its activity in the Russian Federation by a court decision on July 24, 2018, BestChange entered the registry of Roskomnadzor, since “posting publicly available information on“ electronic currency “Bitcoin <…> is contrary to federal laws and is information disseminated in the territory  The Russian Federation is prohibited. ” Naturally, in the current legislation, BestChange service has no chance to work legally. It turns out that there is no need to control the quality of the supplied information and the legal compliance of the sites. As a result, the entire security system comes down to feedback, and when working with BestChange, risks arise, each of which we will consider separately.

1.Concealment of information about additional own fees of services for sending funds

Far from always in the BestChange service, white is white.  Occasionally, services do not indicate the presence of their own commission, as a result, deliberately false information is received on the aggregator.  Yes, over time, on the basis of feedback, the administration of the service either removes such sites from the rating or requires not to take into account the commission.  However, those who change quickly and almost blindly at the best rate have to deal with de facto.

2.Exchange rate mismatch due to its flexible change

This risk arises when exchanging crypto for fiat and is typical mainly for transactions with Regular confirmation.  Almost all services warn: if the transfer is delayed for a while (more than 30-60 minutes), the course will be automatically revised.  A very good way to manipulate the market when receiving services with large amounts of delay. We give the most profitable courses but pay for others, which, incidentally, cannot happen when exchanging through alternative services with fixed rates.

3.The discrepancy in the processing time of the application for the exchange of what is specified in the rules

Work with exchangers is voluntary.  And here, as in ZhES, you will not complain.  Of course, you can leave a negative review on BestСhange, but in fact, even for transactions that lasted for a day, no one does this.  To receive a fiat only in a day means to provide it for using the Service for your own needs. For example, to increase turnover in the period of the “green” market.  Here the services are scalping well since they are already paying out the funds at the “old” quotes.

4.Non-compliance with work status 24/7

Despite the declared “24/7”, not all services follow a round-the-clock mode of operation.  This is due to both the human factor and the desire to increase income during the peak season.  Therefore, do not be surprised if the processing of your request is delayed in the night or morning time in the chat of the exchanger.

5.Lack of online payment search

You sent a fiat, but did not receive cryptocurrency on your account?  Was the longing waiting for several hours? You worry, write in support since it is not possible for you to track all the ends of the transaction.  And now you, together with the operator, carefully study the logs, and he finally agrees that the funds have arrived, and promises to send you coins in the near future.  Time spent, the course has grown, you are upset.

6.Lack of customer loyalty system and bonuses

This item is an option rather than an actual minus. Customer retention for the exchanger – an important issue, but not paramount.  Realizing that more than half of the traffic comes from aggregators, exchangers have long reviewed the behavior strategy.  Now the emphasis is on providing the most profitable courses at the current time. Single services are ready to offer a cumulative discount or a discount for registration.  And, as a rule, the terms of exchange on such sites are obviously losing, and even the bonuses received are not able to radically change the situation.

7.Restriction on the exchange of own funds and the mandatory lower bar exchange

Exchangers are like people.  There are rich, and there are not very.  And when you try to exchange a large amount in a direction that is not very demanded, you may encounter an unpleasant situation: not a single exchanger from the aggregator can fully satisfy your request, or exchangers are ready to do this from the basement at obviously losing rates.  Then it remains either to wait, or to change parts, losing time and money on transaction commissions, or to seek alternative options for help.

Also, an unpleasant surprise for exchanger policies can be for those who plan to exchange a small amount, for example, 0.004 BTC.  In 90% of exchangers on BestChange, you will go denial. And you will learn about it only when you fill out all the fields and click the “Start Exchange” button.

8.The requirement to enter personal data for the transaction

With the aim of informing the user about the status of the transaction, exchangers always require an email address and sometimes even a full name and a mobile phone number.  However, we cannot be sure that this data will not be sent to DMP marketers (at best), to scammers or to the FSB. Therefore, despite the apparent anonymity, most transactions are not.  Therefore, to preserve anonymity, it is better to resort to those methods and exchange services where your privacy cannot be violated.

9.Hidden information about additional verification at the first payment by some means of payment

A violation of confidentiality is also present in this case.  Some exchangers, when accepting or sending funds to some payment systems (QIWI, Skrill, Payeer), warn that the transaction may be delayed for the first time for 24 hours, and the service has the full right to request additional information for your verification.  Moreover, this will be done after you send the money, and you, whether you like it or not, will have to comply with the requirements of others.

10.Scam multi-course management

A new, invisible to the eye method of manipulating exchange rates for exchangers.  Trying to push competitors to set the “necessary” rates for the resale of hung assets, as well as to manipulate the trust of potential customers, exchangers in areas with a critically low reserve set obviously inflated rates.  As a result, the following situation arises: you cannot buy cryptocurrency in the exchanger at a favorable rate due to the lower exchange limit, which does not cover the reserve of funds available for the exchanger in this direction.

The most interesting thing is that often at the top of the aggregator list there can be up to 10 such exchangers-gaskets.  Finding, as a result, a site with a suitable reserve, the user can be upset: the exchange rate there will be extremely unprofitable.

Thus, BestChange, like other aggregators, contribute to the monopolization of the cryptocurrency exchange market, since they can independently remove objectionable sites from the rating.  There are interesting aggregators, where the list is completely represented by a hundred sites on the same engine, but with a different design and different courses. It is easy to guess that they all belong to one owner who competently manipulates courses, hiding behind an honest aggregator.  There is only one way out of this situation – the use of direct exchange or anonymous exchange services with fixed rates.

Article sponsor: Saleer Service

More information about exchanging with Saleer can be found in the instructions.  You can conduct your first exchange in the Saleer service here: https://t.me/SaleerBot