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Announcements [ANN] / Re: Every exchange is a celebration with BestChange
« on: November 03, 2023, 01:13:39 PM »
Ranking rate and exchange rate are important notions when working with cryptocurrency and fiat currency exchanges
On the BestChange website, to determine the place in the ranking of exchangers, a special exchange rate is used. This rate was created to ensure an honest and just ranking of exchangers, considering the individual features of each exchanger.
How is the ranking rate calculated?
Everything starts with determining the minimal exchange amount. Here, the minimal amount of $300 is used or its equivalent in other currencies. Also, the maximal exchange amount offered by an exchanger is taken into account, as well as the reserves the exchange has for this specific exchange direction.
First, the average exchange amount is determined. It will be used for further calculation. The base exchange rate is then applied to this average amount, as well as additional fees set by the exchanger. This value is divided by the exchange amount, which is displayed on the monitor by default.
Another important point: when exchanging cash, the minimum exchange amount increases from $300 to $10,000. The increase is due to the typical size of exchange amounts when dealing with cash. This approach allows exchangers to charge fixed commissions in case of large amounts, without significantly affecting the final “ranking rate” displayed on the monitor.
Anyhow, BestChange users can get exact exchange rates for the amount they are interested in using the Calculator functions. We wish you smooth exchanges, dear friends!
On the BestChange website, to determine the place in the ranking of exchangers, a special exchange rate is used. This rate was created to ensure an honest and just ranking of exchangers, considering the individual features of each exchanger.
How is the ranking rate calculated?
Everything starts with determining the minimal exchange amount. Here, the minimal amount of $300 is used or its equivalent in other currencies. Also, the maximal exchange amount offered by an exchanger is taken into account, as well as the reserves the exchange has for this specific exchange direction.
First, the average exchange amount is determined. It will be used for further calculation. The base exchange rate is then applied to this average amount, as well as additional fees set by the exchanger. This value is divided by the exchange amount, which is displayed on the monitor by default.
Another important point: when exchanging cash, the minimum exchange amount increases from $300 to $10,000. The increase is due to the typical size of exchange amounts when dealing with cash. This approach allows exchangers to charge fixed commissions in case of large amounts, without significantly affecting the final “ranking rate” displayed on the monitor.
Anyhow, BestChange users can get exact exchange rates for the amount they are interested in using the Calculator functions. We wish you smooth exchanges, dear friends!