- Innovative cryptocurrency exchange service
- Extensive array of cryptocurrency assets
- Zero fees or commissions
- Users can stay anonymous
- New exchange service
- Limited support options
- Not regulated
BestRate is a unique kind of cryptocurrency exchange that aggregates the prices from a variety of well-known cryptocurrency exchanges and provides their users with the best available rates on crypto assets. Traders with BestRate benefit from the cheapest market rate and deep liquidity provided from the top cryptocurrency exchanges in the market. Essentially, BestRate is simply matching their users with other users from a variety of exchanges in a decentralized manner. The crypto exchange process happens directly between the buyer and the seller, with no direct involvement from BestRate. Another unique aspect of the BestRate crypto exchange service is its ICO payment tool. This ICO payment tool is a widget in which companies who run ICOs can use to accept payments from over 80 different cryptocurrencies and a variety of fiat currencies. This widget helps to enable these ICOs to effectively distribute tokens to BestRate users.
The BestRate cryptocurrency exchange and ICO service was only recently established in 2018. The company consists of 14 team members, has 4 company partnerships, and aggregates prices from 7 large exchanges. The company is based in the United States with their headquarters located at 68 Willow Rd, Menlo Park, California 94025, U.S. BestRate is not a regulated cryptocurrency exchange or money services business, as with most cryptocurrency companies of this kind. Since BestRate is so new and has yet to build up a viable reputation in the cryptocurrency industry, how are their services and can they be trusted? Find out in the following review where we delve deep into all aspects of this unique cryptocurrency exchange and ICO service company and discover the services they offer and if they can be trusted.
BestRate does not provide their users with a conventional crypto exchange trading platform, but rather features a simple web-based interface for buying or selling cryptocurrency. Below we’ll be explaining exactly how the BestRate platform works through our step by step guide.
Step 1: Choose Coins
After creating an account and signing up with BestRate, simply navigate to the “Exchange” tab on the BestRate.org website. Simply enter the currency or cryptocurrency, the amount you would like to exchange, and the cryptocurrency you want to exchange it for.
Step 2: Choose Service Provider
Now, choose the best rate from the list of available crypto exchanges. Users receive the same rate as if they were trading with the exchange directly, only they benefit from receiving the best rate, and trust and security from BestRate.org.
Step 3: Send Your Coins
Simply follow the steps to send your crypto or fiat currency directly to the exchange you chose to deal with. The funds go directly from your wallet to the exchange wallet.
Step 4: Receive Crypto
Enter in your personal crypto wallets receiving address and the coins from the exchange will go directly into your personal crypto wallet. The entire process is super simple, easy, and fast.
BestRate deals both in the established cryptocurrency markets and the new and upcoming ICO (Initial Coin Offering) markets. Users can buy and exchange over 80 cryptocurrency assets from the BestRate exchange interface. The only fiat currency supported by BestRate is US Dollars (USD). US Dollars can only be used to buy cryptocurrencies via BestRate, cryptos can not be sold for USD. However, cryptocurrencies can be exchanged for other cryptocurrencies.
As for ICOs, companies who partner with BestRate allow any cryptocurrency user regardless if they’re a BestRate user, to buy into their ICO with over 80 different cryptocurrencies. Therefore, because of BestRate people have better access to all of the ICO that partner with BestRate.
Fees and Commission
BestRate charges zero fees and commissions to their users. Users only pay the same fees as the exchange they interact with charges. Therefore, it’s the same as if they were dealing directly with the exchange they deal with through BestRate. The way BestRate makes money is through their ICO widget tool, in which the ICO companies pay a fee to BestRate for using their service.
Security and Fairness
BestRate appears to be a very safe and secure crypto exchange service as users do not have to entrust their funds with any exchange. Funds go directly from the users wallet to the exchange, and the exchange send the crypto directly to the users wallet, so it is never stored on the exchange. Also, BestRate is only partnered with viable and trustworthy cryptocurrency exchanges. Another thing, registration is not obligatory, so users can stay anonymous. The only worrisome thing about BestRate is that they are a very new and unregulated business. Therefore, they have not stood the test of time and built up a viable reputation.
BestRate provides their customers with support via an online contact form. As well, customers can reach out to support via various social media channels including Facebook, Twitter, LinkedIn, Reddit, Telegram, and GitHub. The BestRate website also has an extensive FAQ page and a blog where customers can learn useful information.
BestRate is a very interesting cryptocurrency exchange service that provides their users with the best possible rate available on a number of reputable cryptocurrency exchanges. The service is very fast, simple, and secure. BestRate allows users to exchange over 80 cryptocurrency assets, all while staying completely anonymous. BestRate charges zero fees for their exchange service and appears to be quite reputable. However, only time will tell as BestRate is still a fairly new business.
The following are the common questions that customers inquired about BestRate.
Is BestRate regulated?
No, it is not regulated by any reputable regulatory authorities.
Is BestRate a scam?
No, BestRate appears to be a legit exchange service.
Where is BestRate based?
BestRate is based in the United States at 68 Willow Rd, Menlo Park, California 94025, U.S.