Forget about exchanger search! Use BestChange!

[Best_Change]

.
Maybe it would be a good idea to report all this apps to google, and you can also make some notification warning on your website stating that you don't have any official BestChange apps or browser extensions like THIS for example.

We agree and we've made a notification about it in our FAQ: https://www.bestchange.com/faq.html

"We would like to draw your attention that at the present moment BestChange does not have official apps in Google Play and App Store. We recommend users to be vigilant and do not use imposter apps. We are planning to launch official apps in the future. The links to them will be provided on our website."

Thank you for your vigilance!

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[LoyceV]

We know that the need of KYC or the absence thereof can be a decisive factor when choosing an exchange platform, and a long time ago we implemented icons that inform users whether an exchanger requires verification:

Is this KYC-icon no longer active?

Requests/suggestions:
Add Bitcoin Lightning Network, several instant exchanges support it already.

I'd love to have some options to toggle, such as only showing exchanges I can use without sending them copies of my documents. I like my privacy, especially when dealing with unknown companies.

Can you add the option to choose the amount to trade, then sort based on that? Because of the differences between network transaction fees and exchange fees, sorting based on a 1 BTC trade is likely to give a different suggestion than sorting based on a 0.002 BTC trade.
It would be great to be able to enter the amount to trade, and get a comparison based on that. Exchanges with a higher minimum can be omitted. It doesn't make sense to show "give 9 Doge" if that's under the minimum.

Or can you make it possible to sort by minimum transaction amount?

The "max" amount is only shown under the "min" when I hover my mouse. Can that be shown by default too? It took me a while to find it.

Can you add BCH-A, it would be great to have an easy way to get rid of that Forkcoin.

[Best_Change]

Hi LoyceV, thank you for your input and suggestions.

We have relayed them to the development team and will look into them. It should be said that we are currently working on a new version of the website.

As for KYC icons, those exchangers that do not have "verification" icon next to them usually do not require verification. The key word here is "usually". You can read in our FAQ, the answer to the question
"Is goind through AML/KYC procedures required in exchangers listed on BestChange"  is

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.

But it should be noted, that the exchanger with the "verification" icon require KYC in any case, whereas those that don't have this icon would require it in extraordinary cases. The idea to sort exchangers based on this criteria has been also relayed to the team.

Can you add the option to choose the amount to trade, then sort based on that? Because of the differences between network transaction fees and exchange fees, sorting based on a 1 BTC trade is likely to give a different suggestion than sorting based on a 0.002 BTC trade.
It would be great to be able to enter the amount to trade, and get a comparison based on that.

If we get you right, the Calculator function should be able to solve this question: simply select the "Calculator" over the table of exchangers and enter the amount you are interested in (either in giving or receiving) and the list will be sorted based on that amount.

Thank you again for all your ideas and valuable input!

[LoyceV]

If we get you right, the Calculator function should be able to solve this question: simply select the "Calculator" over the table of exchangers and enter the amount you are interested in

That is indeed what I was looking for, and it excludes exchanges that don't accept my amount. Thanks!

[deepftuned]

Hi Bestchange,

I made a post yesterday explaining the issues im facing with Fox.exchange (https://bitcointalk.org/index.php?topic=5318850) and i also added a complaint in fox.exchange's profile on Bestchange (https://www.bestchange.com/foxexchange-exchanger.html). I would like to ask if you can do something about it cause they're ignoring me for 10 days now (https://i.imgur.com/8tQumbN.png).

It doesnt seem fair that even though you can clearly see on Etherscan that my address is a BINANCE one and i also sent them proof that i have verified my BINANCE account with personal ID and KYC related stuff and they still try holding my coins without replying to me or without forwarding me to their owner so i can explain the issue and make them refund me.

Also i think it would be good if there was a KYC icon before people exchange funds and trust me im sure fox.exchange will remove their KYC/AML policy right away since when they added that policy they didnt notify anywhere on social media, telegram, their blog.

Thanks a lot

[Bitcoin_Arena]

Hi, BestChange.
It looks like these fox.exchange owners are fooling people. First on their landing page they claim that they don't require any form of registration, email or identification documents apart from only one's crypto public address but then go ahead to ask for KYC




They also claim they they don't hold customer's deposits which they did


What they are doing is not OK according to what's advertised on their website

Archived: https://archive.vn/urydY

[examplens]

Hi, BestChange.
It looks like these fox.exchange owners are fooling people. First on their landing page they claim that they don't require any form of registration, email or identification documents apart from only one's crypto public address but then go ahead to ask for KYC

I remember them because of his logo ^{similar to MetaMask} and some of the scam accusations against fox.exchange. I find one of them like https://bitcointalk.org/index.php?topic=5104721.msg54422442#msg54422442

User paz-1991 introduced himself as part of the team, he also claimed here that there was no KYC in this exchanger.

Where are you registered? Are you requiring kyc from your customers?

No KYC required, we do not require any documents and we do not have registration. fox.exchange is in the process of licensing its services in one of the crypto advocate countries.

[Best_Change]

Hi Bestchange,

I made a post yesterday explaining the issues im facing with Fox.exchange (https://bitcointalk.org/index.php?topic=5318850) and i also added a complaint in fox.exchange's profile on Bestchange (https://www.bestchange.com/foxexchange-exchanger.html). I would like to ask if you can do something about it cause they're ignoring me for 10 days now (https://i.imgur.com/8tQumbN.png).

It doesnt seem fair that even though you can clearly see on Etherscan that my address is a BINANCE one and i also sent them proof that i have verified my BINANCE account with personal ID and KYC related stuff and they still try holding my coins without replying to me or without forwarding me to their owner so i can explain the issue and make them refund me.

Also i think it would be good if there was a KYC icon before people exchange funds and trust me im sure fox.exchange will remove their KYC/AML policy right away since when they added that policy they didnt notify anywhere on social media, telegram, their blog.

Thanks a lot

Hello deepftuned,

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

Thanks!

[The Cryptovator]

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

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,

I only trusted them because they are being monitored at bestchange site. I do not trust them with my private documents. I hope bestchange admin will remove this scammer from their website to save other people from getting scammed.

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.

[paz-1991]

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.

[Bitcoin_Arena]

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.

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;

Unlike most other exchanges, we don't hold customer deposits. Like this, your funds don't suffer custodial risk

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
 

[Best_Change]

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.

[Slow death]

[...]

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


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?

[Darker45]

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?

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?

[LoyceV]

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.

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.

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?

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

[Darker45]

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?

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

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.

[LoyceV]

I noticed that there were negative reviews on certain exchangers and yet they've always got 0 under their negative reviews.

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

As a matter of fact, I cannot see even a single exchanger which has a negative review. All of them got 0.

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

[examplens]

As a matter of fact, I cannot see even a single exchanger which has a negative review. All of them got 0.

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.

[LoyceV]

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.

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.

[Darker45]

I noticed that there were negative reviews on certain exchangers and yet they've always got 0 under their negative reviews.

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

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.

~snip~

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

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.

I didn't even know the large exchanges are mentioned on BestChange...

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