Listing your tokens on BestRate is a relatively new service that we have recently launched. It gives your users a possibility to buy your tokens for EUR, USD, BTC, ETH and many other cryptos that we support.
There is another service in the market that offers similar options – Bancor Network. However, there are some major benefits that help our product differentiate from the one offered by Bancor. In this article, we are going to compare BestRate and Bancor listing and highlight the features that make our service a much better solution for crypto projects.
Bancor: the service doesn’t charge any setup fee for listing. However, in order to distribute your tokens through the Bancor platform, you are obliged to make a deposit in BNT tokens $100,000 worth. If you no longer want to list your tokens on Bancor you can withdraw this deposit at any time, but with the current market state and BNT price gradually decreasing over the last year you will surely lose a huge sum. The 2% decrease would mean a $2,000 loss.
Also, the trading volume of BNT tokens is low and it would be very difficult to sell it off at a good rate on any exchange.
BestRate: the charges are much lower. The minimum setup fee is $1,000 and the minimum deposit equals to $5,000 in BTC or any other liquid currency.
2. Buy tokens for USD / EUR
Bancor: no. The users have to buy cryptocurrencies on third-party exchange platforms first.
BestRate: yes. The users can buy your tokens with a bank card following a customary procedure that is very similar to usual online shopping. This helps you to significantly increase your conversion.
3. Supported currencies
Bancor: only Ethereum and EOS-based cryptos. There’s no way to buy tokens for the most popular cryptocurrency Bitcoin. Its derivatives such as BitcoinCash and Litecoin are not supported either.
BestRate: 80+ cryptos are supported, including Bitcoin, Ether and EOS.
4. Widget settings
BestRate: the settings of the payment widget are pretty flexible. You can specify the coins for users to pay with, set up ranges and bonuses for huge purchases.
5. The size of the audience
Bancor: according to Similarweb, Bancor audience gradually decreases losing around 100,000 visitors every month. In September 2018, there were 400,000 visitors and 300,000 in November. It seems that the project doesn’t do anything in order to grow its audience.
BestRate: the size of our audience is smaller, we have only 50,000 visitors per month on the average, but we do not sit idle and are constantly looking for new ways to promote our service. Since we also have other B2C products, we have better chances to win the audience attention.
Surely, Bancor is a well-known brand that has been offering its services since July 2017, for about half a year more than BestRate. But the conditions of listing your tokens are far not as good. There’s no way to sell your tokens for FIAT and the list of supported currencies is much smaller.
BestRate is surely not as popular as Bancor, but we strive on growing our audience and constantly develop our product to make it fit into the market requirements. So think twice what is more important for you: the brand or the quality.
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