Thanks. The rate is not bad just N130 less than the current rate on P2p Exchanges but it's quite manageable. What part does Bestchange play against scam on these exchanges?
BestChange monitors their business, and reserves also for each exchanger's reputation on BC is significant. Regardless, no one can guarantee that a service did not turn into an exit scam at some point.
And why are these exchanges requesting for KYC? Thought they're unregulated exchanges.
If fiat is one of the currencies part of the swap process, you have already done some kind of KYC, since a bank account is needed to receive/send currency (in your case, NGN). A good number of instant exchangers are registered, mostly in crypto-friendly zones, but certainly, they are legal entities. Therefore, they have to operate within certain limits.