How is the rate formed in exchangers?
When you use the monitor, you can notice that each exchanger has a slightly different rate than the others, and also that all the rates are corrected every several seconds. That is why in different moment either one or another exchanger’s rate will be more profitable. What does the currency rate depend in exchangers? We can single out several factors.
✅ Rate on an exchange. For fiat, as in the case with cryptocurrency, there are trading platforms where the price is formed based on demand and offer. The exchanger takes the rate on this or that exchange as the basic one, and on different platforms the price is always slightly different.
✅ The exchanger’s commission. Usually it is not shown separately but is simply included in the rate. On average it totals to 2–5%.
✅ Additional commissions for a specific payment direction. Commissions for a specific amount are also possible, in this case, since BestChange doesn’t know what amount you are going to exchange, we request the exchangers to show rate taking into account the highest commission possible.
✅ Payment method. Payment systems and banks do have their charges. Use the Calculator feature on BestChange to calculate the exchange considering all commissions.
This brings us back to the fact how important it is to use BestChange on the constant basis: an exchanger that was the most profitable a week ago, is not necessary such now, and you would have extra losses. The relevant information, on the contrary, helps to save up.