Every exchange is a celebration with BestChange

[Fivestar4everMVP]

There are plenty of different options for further payment implementation for AML checking. For now, we're focusing on accumulating feedback and proposals from the community to review it in the future.

Yes, that's true there are so many payment options for AML checking but I believe the coins with good marketcap and fast transfer speeds should be preferred. I'm sure in future BestChange will have many new payment options for AML checking and I'm sure the proposals from community will be considered.

When it comes to choosing coins for payment options, I will agree with your opinion, coins or tokens with large market cap are best since they've (through their large market cap) gains strength to atleast, absorb some of the market volatility, and this simply means that they are likely to have a more stable price, more than 50x more than those coins with very low market cap.
And high market cap can sometimes also translate to high liquidity, which is what customers need to be able to easily buy and sell the coins.
And also, not to forget the area of low transaction cost and speed, this is very important to ensure customer's satisfaction at all times.

[examplens]

And also, not to forget the area of low transaction cost and speed, this is very important to ensure customer's satisfaction at all times.

In addition to cheap transactions for paying for AML verification, it is very important that it is possible to pay for it with some of the coins that offer a higher degree of privacy. It seems quite bad to compromise one address for the sake of checking another because it is obvious that such tools serve users to check their funds and their AML score.

[SamReomo]

And also, not to forget the area of low transaction cost and speed, this is very important to ensure customer's satisfaction at all times.

For low transaction cost and speed I can think of no other coin than Solana. I have made many transactions with that coin and all those transactions were cost-effective and they were completed within minutes or even in one minute.

[Wiwo]

When it comes to choosing coins for payment options, I will agree with your opinion, coins or tokens with large market cap are best since they've (through their large market cap) gains strength to atleast, absorb some of the market volatility, and this simply means that they are likely to have a more stable price, more than 50x more than those coins with very low market cap.
And high market cap can sometimes also translate to high liquidity, which is what customers need to be able to easily buy and sell the coins.
And also, not to forget the area of low transaction cost and speed, this is very important to ensure customer's satisfaction at all times.

Well for me it all depends on the stage of the token in the market and how many exchanges those coin or tokens are listed on, yes it is true that low cap coin and tokens that are listed on multiple exchanges may have difficulty pumping easily when the bull market happens,  and some of them will only do a few percentage movement during event of crypto market bull tenacious.

This is what make it hard for low cap coins and tokens to pump easily in some cases, but for those that have low cap with high potential and only single exchanges listing are giving their holders some stable and consistent market volatility market realities,  and also lower risk.

To me, trading volumes and market capitalization matters alot for me and that is what determine the quality of the exchange, or coin vs tokens.

[Fivestar4everMVP]

And also, not to forget the area of low transaction cost and speed, this is very important to ensure customer's satisfaction at all times.

For low transaction cost and speed I can think of no other coin than Solana. I have made many transactions with that coin and all those transactions were cost-effective and they were completed within minutes or even in one minute.

I agree that Solana is indeed one of the fastest blockchain around right now, I've done several transactions on Solana and I can tell you for sure that there are several of them that got completer within a few seconds, not actually up to a minute.

And another blockchain that is that fast, or has the potential to be that fast is renec blockchain, which was built on the Solana code, though this blockchain is not yet known to many or majority, but when it comes to cost effective and fast blockchains, I can't make a list without including Renec blockchain, transaction fee in this blockchain is around $0.00001

[Husires]

I thought that AML check happens when you deposit Bitcoin or some good altcoins, but it is rare to use some many altcoins for purposes other than trading, who will uses BSC tokens to launder money.

And another blockchain that is that fast, or has the potential to be that fast is renec blockchain, which was built on the Solana code, though this blockchain is not yet known to many or majority, but when it comes to cost effective and fast blockchains, I can't make a list without including Renec blockchain, transaction fee in this blockchain is around $0.00001

Create a topic about Renec blockchain. Getting various options with low fees is always good.

[dkbit98]

In addition to cheap transactions for paying for AML verification, it is very important that it is possible to pay for it with some of the coins that offer a higher degree of privacy. It seems quite bad to compromise one address for the sake of checking another because it is obvious that such tools serve users to check their funds and their AML score.

That is why I already suggested Bestchange to add monero payments and other privacy preserving options.
I would never use non-privacy coins to pay for this aml check, but I guess some people don't care at all.

For low transaction cost and speed I can think of no other coin than Solana. I have made many transactions with that coin and all those transactions were cost-effective and they were completed within minutes or even in one minute.

It also has zero privacy, it's 100% centralized, and God only knows how many times this ''blockchain'' stopped working and went offline. 

[examplens]

The not-so-desirable result of the AML check with Bestchange over their partners comes from the exch.cx exchanger. Can we get an explanation from the representative of Bestchange, what is this about?
It's pretty disappointing to rely on anything that came out of Whitebit, which has long been known to be dubious, to say the least.

Warning to WhiteBit and Bestchange users who also use eXch:

Ukrainian service AMLBot and exchange WhiteBIT (registered in Lithuania with ukrainian and ex-russian citizen shareholders) have decided to start a malicious campaign against eXch.

Now any funds outgoing from eXch wallets 0xf1da173228fcf015f43f3ea15abbb51f0d8f1123 and bc1qu2dq8w8lv8v3l7lr2c5tvx3yltv22r3nhkx7w0 will be marked as "high risk" by the ukrainian risk-screening service "AMLBot" and therefore any services using them, that are gladly a vast minority on the entire market: the WhiteBIT exchange and around 50% of the Bestchange-affiliated exchangers.

It is widely known that eXch wallets 0xf1da173228fcf015f43f3ea15abbb51f0d8f1123 and bc1qu2dq8w8lv8v3l7lr2c5tvx3yltv22r3nhkx7w0 contain only funds that are considered "clean" (in Bitcoin enemies terminology) and it is absolutely no chance that "high-risk" funds would enter these addresses due to our robust coin filtering mechanism that helps us to maintain two types of coin pools.

However, since AMLBot (and therefore WhiteBIT) teams don't like the fact our team knows many details about their shady past, they decided to attack our exchange in this specific way in attempt to influence other exchanges/risk providers which ain't going to work.

Full statement: https://bitcointalk.org/index.php?topic=577207.msg64389731#msg64389731

[BestChange]

The not-so-desirable result of the AML check with Bestchange over their partners comes from the exch.cx exchanger. Can we get an explanation from the representative of Bestchange, what is this about?
It's pretty disappointing to rely on anything that came out of Whitebit, which has long been known to be dubious, to say the least.

Warning to WhiteBit and Bestchange users who also use eXch:

Ukrainian service AMLBot and exchange WhiteBIT (registered in Lithuania with ukrainian and ex-russian citizen shareholders) have decided to start a malicious campaign against eXch.

Now any funds outgoing from eXch wallets 0xf1da173228fcf015f43f3ea15abbb51f0d8f1123 and bc1qu2dq8w8lv8v3l7lr2c5tvx3yltv22r3nhkx7w0 will be marked as "high risk" by the ukrainian risk-screening service "AMLBot" and therefore any services using them, that are gladly a vast minority on the entire market: the WhiteBIT exchange and around 50% of the Bestchange-affiliated exchangers.

It is widely known that eXch wallets 0xf1da173228fcf015f43f3ea15abbb51f0d8f1123 and bc1qu2dq8w8lv8v3l7lr2c5tvx3yltv22r3nhkx7w0 contain only funds that are considered "clean" (in Bitcoin enemies terminology) and it is absolutely no chance that "high-risk" funds would enter these addresses due to our robust coin filtering mechanism that helps us to maintain two types of coin pools.

However, since AMLBot (and therefore WhiteBIT) teams don't like the fact our team knows many details about their shady past, they decided to attack our exchange in this specific way in attempt to influence other exchanges/risk providers which ain't going to work.

Full statement: https://bitcointalk.org/index.php?topic=577207.msg64389731#msg64389731

We have reviewed the information in the link you shared (thank you for that).
We are not aware of any instances where funds have been blocked by the exchange service listed on BestChange.
We checked the addresses mentioned in the message and found no high-risk flags. The verification was conducted using various AML services. Of course, the situation could change, but as of now, the addresses provided by eXch are categorized as "OTC."

[examplens]

We have reviewed the information in the link you shared (thank you for that).
We are not aware of any instances where funds have been blocked by the exchange service listed on BestChange.
We checked the addresses mentioned in the message and found no high-risk flags. The verification was conducted using various AML services. Of course, the situation could change, but as of now, the addresses provided by eXch are categorized as "OTC."

Thanks for the clarification.
Do you have insight or knowledge of which AMLcheck methods are used by the partners under your supervision?

As far as I know, for now, you only have badges with information that some exchangers may require KYC. How do you feel about completing this information, whether the partner has its own AML check method or depends on a third party? Obviously, this topic is becoming more and more prevalent and such information could be useful.

[BestChange]

We have reviewed the information in the link you shared (thank you for that).
We are not aware of any instances where funds have been blocked by the exchange service listed on BestChange.
We checked the addresses mentioned in the message and found no high-risk flags. The verification was conducted using various AML services. Of course, the situation could change, but as of now, the addresses provided by eXch are categorized as "OTC."

Thanks for the clarification.
Do you have insight or knowledge of which AMLcheck methods are used by the partners under your supervision?

As far as I know, for now, you only have badges with information that some exchangers may require KYC. How do you feel about completing this information, whether the partner has its own AML check method or depends on a third party? Obviously, this topic is becoming more and more prevalent and such information could be useful.

Exchange services listed on the monitoring website may use various AML analyzers; we do not recommend any specific set of tools.
In general, the vast majority of AML services provide similar information, with only minor differences in details. Therefore, the choice is usually based on the convenience of the AML service itself rather than its functionality (to reiterate, the functionality is generally the same across the board).

You are likely referring to the tags displayed on the BestChange website next to the name of an exchange.
Information about these tags can be found in the FAQ section. Here’s a direct link: https://www.bestchange.com/wiki/labels.html.

The tag for cryptocurrency exchanges is rarely used, as every listed exchange initially complies with AML/KYC/KYT procedures, as stated on the exchange service’s website.
Lastly, the monitoring site provides a corresponding disclaimer for all cryptocurrency directions, as shown in the screenshot.
The notification is below the main exchange services list for the selected direction.

[BestChange]

What to do if the exchanger has suspended the exchange after an AML check?

The AML&KYC policy plays a key role in ensuring the security of financial transactions and preventing illegal activities. This is because financial crimes and terrorism pose a serious threat to the world.

All exchangers included in the BestChange monitor automatically follow these requirements, which apply to all financial services in the world.

If the funds in the transaction sent by the client of the exchanger have a high level of risk or are associated with illegitimate sources, i. e.  have high-risk marks: Dark Market, Stolen Coins, etc., the exchanger can block the transaction and request data to complete the KYC procedure.

This information is needed exclusively to comply with the AML&KYC requirements and the subsequent unblocking of funds.

To avoid blocking funds and the need to undergo verification, it is recommended to familiarize yourself with the regulations of the selected exchanger on its website in advance.

- It is useful to check the wallet address from which you plan to send funds for high-risk tags marks AML analyzer — https://www.bestchange.com/report/ , AMLBot, GetBlock and others.
- After receiving the results of the check, it is better to check with the exchanger’s support service whether the identified risk level is acceptable for the exchange.

Any questions left? Ask them in the comments below the post!

[dkbit98]

The AML&KYC policy plays a key role in ensuring the security of financial transactions and preventing illegal activities. This is because financial crimes and terrorism pose a serious threat to the world.

Give me a break please, no real terrorist would ever use Bitcoin for any illegal activities, your KYC/AML policies will not stop any real attacks and they wont make anything more secure.
I am ok with you using KYC if you are forced to do it by government but please stop promoting it all around as something good.

[BestChange]

The AML&KYC policy plays a key role in ensuring the security of financial transactions and preventing illegal activities. This is because financial crimes and terrorism pose a serious threat to the world.

Give me a break please, no real terrorist would ever use Bitcoin for any illegal activities, your KYC/AML policies will not stop any real attacks and they wont make anything more secure.
I am ok with you using KYC if you are forced to do it by government but please stop promoting it all around as something good.

Thank you for sharing your opinion. The question of which assets (traditional fiat currencies or crypto assets) are used for illegal activities remains a topic of debate. In practice, it's evident that any asset can be used, with differences mainly in quantity and the complexity of use.

It is important to note that regulatory procedures are increasingly being implemented in the cryptocurrency industry. We understand that opinions may vary, and we respect all viewpoints. Rather than making value judgments, we aim to provide information that can be practically useful.

We want to inform users about the possibility of obtaining data on their address and the address of a potential counterparty. Whether or not to use this information is entirely up to you.

[God Of Thunder]

Hi BestChange,

I did not have any plan to ask this question in this thread but on another forum. But your new reply just popped up in the thread in front of me and I thought it wouldn't be a bad idea to ask here since it is related to your platform. I have been seeing new platforms coming up and creating their ANN on another forum and their website claims they are a partner of Bestchange. But after checking the exchanger list of BestChange, I found out some of them are not listed on bestChange but those exchanges claim to be your partner. In this case, do you guys take any actions against those platforms? Do they have the right to use your fame to promote their business without any business deal with you guys?