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BYNEX review: is it a safe exchange or scam? (04.2024)

What do we know about BYNEX? According to the data we possess, it appears to be a quite reputable, quite respectable, well established, promising exchange service. It's a broker successfully operating for about 3 years and 6 months. BYNEX supports some of the popular crypto. BYNEX operator is regulated, licensed financial company fully compliant with the local and international regulation, etc.

Clients from 252 countries & territories are welcome here, regrettably, registrations from United States where you are located are currently not allowed, but there are good alternatives! Due to regulatory restrictions, US citizens and residents are not served by the exchange. Unfortunately we couldn't yet collect enough data about the order processing speed from the actual customers, maybe you know how fast BYNEX processes the orders? If you do, please share the knowledge! Thanks a lot! You will be required to verify your identity (ID Verification, Phone Number Confirmation are commonly requested) to be approved doing exchange operations here.

Starting from 2020, bynex.by is trying its best to earn the trust from the community. Despite that, our users hasn't yet rated or reviewed broker. Have you ever used the BYNEX? If you did, please spend a minute to leave your valuable feedback, we really appreciate it and put our trust on you. Thanks! Despite the fact hadn't yet collected enough data to list these guys among the rest of the approved exchange services (more information below) and therefore can't yet assign the rating to this broker, we can propose a preliminary evaluation: 100/100. Looks impressive!

So, what's our opinion so far? Based on the information we currently hold, BYNEX should be a fairly legitimate and most likely, very safe site to swap Bitcoins; an auspicious service with a remarkable reputation on the market, the one we are hopeful and optimistic about! Let's appraise everything in details...

Overview: is BYNEX safe?

BYNEX operates as the Broker. A project had started up in October 2020.

So what we'll decide, how safe is BYNEX?

BYNEX wasn't rated yet. What does it mean, is it secure to use this broker? Despite bynex isn't yet fully listed and has no rating @ ExchangeRates.Pro, it doesn't mean it's a scam website , is a bad broker, whatever. We are very careful with new additions to our listing, especially for less regulated Brokers and (among all other procedures) postpone the decision until we receive at least a few reports from real users that we can verify.

This ordinary takes rather a long time; we already have 37 well-examined websites in our listing, nevertheless, we never rush to add more. With 9,840 ways to buy and sell BTC worldwide, including 46 local ones for United States, why urge? For now, we can already state that although it's a bit early to make conclusions, BYNEX most likely will be included in our approved services list (if we don't receive any negative reviews of course). Let's keep an eye on it! 100/100, the proposed rating for the bynex.by so far says that it should be safe enough to do business here as we trust. Now let's break down our assumed rating for BYNEX, how it was calculated:

Time in the business: 3 years 6 months
Feedback count: 0
Business model: licensed, fully compliant

Altogether, the preliminary rating for BYNEX is 100 / 100

Research: best alternative to BYNEX

By reason of we can't (yet?) endorse the bynex.by, you may feel safer choosing the website we've already appraised and checked in full. Therefore we took the liberty to research the market and suggest a viable, well-known, 100% trusted alternative exchange platform. How we did it? Let's explain! Makes sense to start from figuring out what exactly we are looking for:

A glance at the service specifics confirms that BYNEX employs the business model of a Broker; exchange started the business October 2020 and up-to-date operates for 3 years and 6 months. It received some reviews and seems to be known on the local market. There is no information available about the company doing business as BYNEX, etc. Please note that it's just a super-small snapshot of what we've discovered, details about the business model are available in the "what we already know about bynex" section. Considering all the abovementioned, we were looking for another broker allowing registrations from United States with a flawless reputation and the best rating and found a perfect match: TransCoin! Let's figure out what makes it the safest choice:

TransCoin user interface: the home page in English

TRANSCOIN is also a Broker; exchange started to provide the services in May 2018. It is a really trusted, surely a respectable, well established, interesting exchange platform (broker) that supports 1 cryptocurrency: you can This is what we value the most about this great exchange service:

  • It is a respectable financial company; the firm holds required license(s) and is fully compliant with the regulation
  • The business model of an exchange broker doesn't require to store the customers' money, there are no accounts, etc. The crypto (or fiat) payment will be instantly delivered to a wallet (bank or fiat payment system) of your choice
  • The exchange runs the business for a long time; project was started 5 years and 11 months ago
  • Customers' testimonials are top notch, 100% (5 out of 5) wrote about the positive experience doing business with TransCoin.

So, let's conclude: the best alternative to BYNEX is

TransCoin, a perfectly safe and trusted broker, rated 100/100. Such score is really, really hard to get, only very exchange services managed to get such a high rating! Let's break down how the transcoin.me exchange could get such a scoring.
Time in the business: 5 years 11 months
Feedback count: 5
Reviews: 5 positive, 0 negative, 0 neutral
Business model: licensed, fully compliant

Overall scoring for TransCoin: 100 / 100

BYNEX fees, limits, verification, etc.

Even though we still consider if we should add BYNEX to the list of approved exchange platforms and are in process of gathering and evaluating the information, we've already collected some data worth sharing. The business appears like a pretty stable and reliable broker running almost flawlessly from Oct 2020. The operator of BYNEX is a regulated entity, a financial company holding all the licenses and permissions required by the law; it's fully compliant with the regulation in the country of business registration. BYNEX definitely stands out of the (most of the) competition; unfortunately, the majority of the Brokers have much less solid business model.

bynex.by is a broker, sort of "crypto exchange bureau" online. Buying and selling aside, there's usually not much to do on such a website; but isn't it exactly what we are looking for? On a positive note, the brokers don't hold the clients' funds and typically require less trust, etc.

Dealing with a reputable service of the sort (that seems especially correct for the BYNEX case) is virtually risk-free, especially if you don't send a lump sum at once.

Fees & Limits at BYNEX

We normally analyze the fees and limits even for the exchanges that are not yet listed but are in the "watch list", while we are considering if we should add these sites or not. Unfortunately, due to some technical issues the integration with BYNEX is not yet set, and therefore we can't state anything about the fees and purchase limits at this broker. Please accept our apologies!

BYNEX account verification

The broker demands the clients to verify their identities in process of an account verification. Being a financial institution, the Firm has certain obligations to the regulatory bodies and won't be allowed to operate without complying to the AML and CTF framework. The following identification procedures are required to complete before the user will be able to convert funds:

  • ID verification: submitting a passport, national ID, etc.
  • Phone confirmation: most often you'll need to receive a code by SMS

As for the estimation how long does it takes to verify an account at BYNEX on average: we must apologize, our platform still haven't collected enough feedback from the real users of a broker. By any chance, if you know how fast bynex.by is with an account verification, kindly let us know too. We really appreciate your commitment!

Supported countries

The website allows the user registrations from 252 countries. The following countries and territories are in the supported list:

  • Afghanistan (AF)
  • Aland Islands (AX)
  • Albania (AL)
  • Algeria (DZ)
  • American Samoa (AS)
  • Andorra (AD)
  • Angola (AO)
  • Anguilla (AI)
  • Antarctica (AQ)
  • Antigua & Barbuda (AG)
  • Argentina (AR)
  • Armenia (AM)
  • Aruba (AW)
  • Ascension Island (AC)
  • Australia (AU)
  • Austria (AT)
  • Azerbaijan (AZ)
  • Bahamas (BS)
  • Bahrain (BH)
  • Bangladesh (BD)
  • Barbados (BB)
  • Belarus (BY)
  • Belgium (BE)
  • Belize (BZ)
  • Benin (BJ)
  • Bermuda (BM)
  • Bhutan (BT)
  • Bolivia (BO)
  • Bosnia & Herzegovina (BA)
  • Botswana (BW)
  • Bouvet Island (BV)
  • Brazil (BR)
  • British Indian Ocean Territory (IO)
  • British Virgin Islands (VG)
  • Brunei (BN)
  • Bulgaria (BG)
  • Burkina Faso (BF)
  • Burundi (BI)
  • Cambodia (KH)
  • Cameroon (CM)
  • Canada (CA)
  • Canary Islands (IC)
  • Cape Verde (CV)
  • Caribbean Netherlands (BQ)
  • Cayman Islands (KY)
  • Central African Republic (CF)
  • Ceuta & Melilla (EA)
  • Chad (TD)
  • Chile (CL)
  • China (CN)
  • Christmas Island (CX)
  • Cocos (Keeling) Islands (CC)
  • Colombia (CO)
  • Comoros (KM)
  • Congo - Brazzaville (CG)
  • Congo - Kinshasa (CD)
  • Cook Islands (CK)
  • Costa Rica (CR)
  • Côte d’Ivoire (CI)
  • Croatia (HR)
  • Cuba (CU)
  • Curaçao (CW)
  • Cyprus (CY)
  • Czech Republic (CZ)
  • Denmark (DK)
  • Diego Garcia (DG)
  • Djibouti (DJ)
  • Dominica (DM)
  • Dominican Republic (DO)
  • Ecuador (EC)
  • Egypt (EG)
  • El Salvador (SV)
  • Equatorial Guinea (GQ)
  • Eritrea (ER)
  • Estonia (EE)
  • Ethiopia (ET)
  • Falkland Islands (FK)
  • Faroe Islands (FO)
  • Fiji (FJ)
  • Finland (FI)
  • France (FR)
  • French Guiana (GF)
  • French Polynesia (PF)
  • French Southern Territories (TF)
  • Gabon (GA)
  • Gambia (GM)
  • Georgia (GE)
  • Germany (DE)
  • Ghana (GH)
  • Gibraltar (GI)
  • Greece (GR)
  • Greenland (GL)
  • Grenada (GD)
  • Guadeloupe (GP)
  • Guam (GU)
  • Guatemala (GT)
  • Guernsey (GG)
  • Guinea (GN)
  • Guinea-Bissau (GW)
  • Guyana (GY)
  • Haiti (HT)
  • Heard Island and McDonald Islands (HM)
  • Honduras (HN)
  • Hong Kong SAR China (HK)
  • Hungary (HU)
  • Iceland (IS)
  • India (IN)
  • Indonesia (ID)
  • Iraq (IQ)
  • Ireland (IE)
  • Isle of Man (IM)
  • Israel (IL)
  • Italy (IT)
  • Jamaica (JM)
  • Japan (JP)
  • Jersey (JE)
  • Jordan (JO)
  • Kazakhstan (KZ)
  • Kenya (KE)
  • Kiribati (KI)
  • Kosovo (XK)
  • Kuwait (KW)
  • Kyrgyzstan (KG)
  • Laos (LA)
  • Latvia (LV)
  • Lebanon (LB)
  • Lesotho (LS)
  • Liberia (LR)
  • Libya (LY)
  • Liechtenstein (LI)
  • Lithuania (LT)
  • Luxembourg (LU)
  • Macau SAR China (MO)
  • Macedonia (MK)
  • Madagascar (MG)
  • Malawi (MW)
  • Malaysia (MY)
  • Maldives (MV)
  • Mali (ML)
  • Malta (MT)
  • Marshall Islands (MH)
  • Martinique (MQ)
  • Mauritania (MR)
  • Mauritius (MU)
  • Mayotte (YT)
  • Mexico (MX)
  • Micronesia (FM)
  • Moldova (MD)
  • Monaco (MC)
  • Mongolia (MN)
  • Montenegro (ME)
  • Montserrat (MS)
  • Morocco (MA)
  • Mozambique (MZ)
  • Myanmar (Burma) (MM)
  • Namibia (NA)
  • Nauru (NR)
  • Nepal (NP)
  • Netherlands (NL)
  • New Caledonia (NC)
  • New Zealand (NZ)
  • Nicaragua (NI)
  • Niger (NE)
  • Nigeria (NG)
  • Niue (NU)
  • Norfolk Island (NF)
  • Northern Mariana Islands (MP)
  • Norway (NO)
  • Oman (OM)
  • Pakistan (PK)
  • Palau (PW)
  • Palestinian Territories (PS)
  • Panama (PA)
  • Papua New Guinea (PG)
  • Paraguay (PY)
  • Peru (PE)
  • Philippines (PH)
  • Pitcairn Islands (PN)
  • Poland (PL)
  • Portugal (PT)
  • Puerto Rico (PR)
  • Qatar (QA)
  • Réunion (RE)
  • Romania (RO)
  • Russia (RU)
  • Rwanda (RW)
  • Samoa (WS)
  • San Marino (SM)
  • São Tomé & Príncipe (ST)
  • Saudi Arabia (SA)
  • Senegal (SN)
  • Serbia (RS)
  • Seychelles (SC)
  • Sierra Leone (SL)
  • Singapore (SG)
  • Sint Maarten (SX)
  • Slovakia (SK)
  • Slovenia (SI)
  • Solomon Islands (SB)
  • Somalia (SO)
  • South Africa (ZA)
  • South Georgia & South Sandwich Islands (GS)
  • South Korea (KR)
  • South Sudan (SS)
  • Spain (ES)
  • Sri Lanka (LK)
  • St. Barthélemy (BL)
  • St. Helena (SH)
  • St. Kitts & Nevis (KN)
  • St. Lucia (LC)
  • St. Martin (MF)
  • St. Pierre & Miquelon (PM)
  • St. Vincent & Grenadines (VC)
  • Sudan (SD)
  • Suriname (SR)
  • Svalbard & Jan Mayen (SJ)
  • Swaziland (SZ)
  • Sweden (SE)
  • Switzerland (CH)
  • Syria (SY)
  • Taiwan (TW)
  • Tajikistan (TJ)
  • Tanzania (TZ)
  • Thailand (TH)
  • Timor-Leste (TL)
  • Togo (TG)
  • Tokelau (TK)
  • Tonga (TO)
  • Trinidad & Tobago (TT)
  • Tristan da Cunha (TA)
  • Tunisia (TN)
  • Turkey (TR)
  • Turkmenistan (TM)
  • Turks & Caicos Islands (TC)
  • Tuvalu (TV)
  • Uganda (UG)
  • Ukraine (UA)
  • United Arab Emirates (AE)
  • United Kingdom (GB)
  • Uruguay (UY)
  • U.S. Outlying Islands (UM)
  • U.S. Virgin Islands (VI)
  • Uzbekistan (UZ)
  • Vanuatu (VU)
  • Vatican City (VA)
  • Venezuela (VE)
  • Vietnam (VN)
  • Wallis & Futuna (WF)
  • Western Sahara (EH)
  • Yemen (YE)
  • Zambia (ZM)
  • Zimbabwe (ZW)

Does BYNEX allow the users from United States (US)?

USA flag

It's a shame, but BYNEX still can't carry on any operations with the citizens or residents of the United States. The reasons behind are the complications with obtaining the required permissions and licenses and/or the complexity of the regulation, etc. Even so, please don't get stressed out, we could encounter several sites worth checking, including the services of Broker type particularly. All of those welcome the American people! Some examples:

Customers' testimonials

please let us know how do you like BYNEX?

We still hadn't received any reviews of bynex.by we could verify. We'd love to know what our valued visitors think of this website; based on that we'll decide should we approve the Broker or not. If you've already tried this service or know someone who did we are counting on you! What do you think about this exchange? Please share your experience, your thoughts... even just a few words testimonial is a great help!

FAQ about BYNEX

Does BYNEX holds my funds?

It does not! One of the best things dealing with the brokers is that unlike most of other exchanges, such businesses instantly deliver your funds to your own wallet after the payment clearance.

Is BYNEX a good broker?

Seems BYNEX is a very good broker! We can say so based on the score the exchange got at our platform. The details are explained in this review and we break down a score in the overview section.

Is BYNEX licensed? Does it hold e-money license?

Bynex exchange holds no special licenses, but the regulation does not require this either.

Is BYNEX a ripoff?

BYNEX is certainly not a rip-off; our analysis confirms that it's a trustworthy exchange. Read more in our conclusion: is BYNEX a legit exchange or scam

is BYNEX a legit exchange?

It is! According to the data we possess, BYNEX is a legitimate, trustworthy service. Our proposed rating score is 100 | 100, feel free to read more about what does it means and how the scoring is calculated.

Can I trust BYNEX with my money?

BYNEX seems very trustworthy and is trusted by the community, "5 stars" rating our platform proposes for the broker requires years of successful operations and much more, read why we preliminary assess the 100/100 result for the exchange. As far as we know, the community trusts broker almost blindly, so you likely won't regret believing them. And remember, whatever service you use, it never hurts to test it with a smaller amount first!

Is BYNEX instant?

Exchange with BYNEX is not instant, although as far as we know, the broker operators execute all the orders in minutes; it feels almost like a fully automated service.

BYNEX vs other exchanges

In case you prefer to deal with a broker that was already fully checked and rated by our reviewers, algorithms, and the actual clientele, we took the liberty to compile a list of alternative sites you may use instead of BYNEX. There are similar exchanges providing more or less the same services; let's see what else is available right away and compare it to the reviewed business! Besides, we found platforms having similar rating that are popular in United States particularly and North America in general. And by the way, if you are eager to pick an exchange basing on a rate and fees mostly, our price comparison platform always finds the most reasonable exchange rates in United States!

BYNEX vs WMexpress

A comparison of the key features and the principal facts about WMEXPRESS versus BYNEX; just take a glance to decide if WMexpress will be the optimal choice for you or at least if it's worth checking our full study:

  • WMexpress is a broker The way bynex.by website functions fits the broker format, both following the same approach to the business.
  • WMexpress had launched the service August 2015 BYNEX started the project October 2020 (WMexpress is operating for 5 years and 1 months longer).
  • WMexpress operates without any registration or no information is available about the legal entity BYNEX obtained all the required permissions, got licensed, etc. (BYNEX 's approach to the business made it a safer and more stable solution).
  • WMexpress allows users' registrations from 255 countries; and we are glad to say that the people from United States are welcome You are permitted to register at the BYNEX being a resident of any of 252 countries; but users from United States are not allowed, sorry (BYNEX green-lights some less countries).
  • When the client needs to pass through the KYC process at WMexpress, they usually ask to provide some (it depends on various factors) documents and / or specific procedures In most of the cases, it takes about a day or two, as per the actual clientele survey results The process of Customer Identification at BYNEX typically involves 2 individual procedures: the ID Verification, Phone Number Confirmation. (BYNEX would likely require you spending more time and efforts to verify your account).

So, is WMexpress a better alternative to BYNEX? Such a conclusion by any means can't be drawn by us instead of you, but we'll try to assist with the matter. Since the WMEXPRESS exchange service got a lower rating at our platform: 71 versus 100 that BYNEX accomplished, our advice is either to go for BYNEX, or, even better to look into few others first; particularly the ranked "best-of-the-best" TransCoin!

Like reading? In fact, there are more exchanges worth comparing to BYNEX, such as:

BYNEX vs chby

A comparison of the key features and the principal facts about CHBY versus BYNEX; just take a glance to decide if chby will be the optimal choice for you or at least if it's worth checking our full study:

  • chby is a broker The way bynex.by website functions fits the broker format, both following the same approach to the business.
  • chby had launched the service July 2018 BYNEX started the project October 2020 (chby is operating for 2 years and 2 months longer).
  • chby operates without any registration or no information is available about the legal entity BYNEX obtained all the required permissions, got licensed, etc. (BYNEX 's approach to the business made it a safer and more stable solution).
  • chby allows users' registrations from 255 countries; and we are glad to say that the people from United States are welcome You are permitted to register at the BYNEX being a resident of any of 252 countries; but users from United States are not allowed, sorry (BYNEX green-lights some less countries).
  • When the client needs to pass through the KYC process at chby, they usually ask to provide some (it depends on various factors) documents and / or specific procedures In most of the cases, it takes about a day or two, as per the actual clientele survey results The process of Customer Identification at BYNEX typically involves 2 individual procedures: the ID Verification, Phone Number Confirmation. (BYNEX would likely require you spending more time and efforts to verify your account).

So, is chby a better alternative to BYNEX? Such a conclusion by any means can't be drawn by us instead of you, but we'll try to assist with the matter. Since the CHBY exchange service got a lower rating at our platform: 70 versus 100 that BYNEX accomplished, our advice is either to go for BYNEX, or, even better to look into few others first; particularly the ranked "best-of-the-best" TransCoin!

Like reading? In fact, there are more exchanges worth comparing to BYNEX, such as:

BYNEX vs 100monet

A comparison of the key features and the principal facts about 100MONET versus BYNEX; just take a glance to decide if 100monet will be the optimal choice for you or at least if it's worth checking our full study:

  • 100monet is a broker The way bynex.by website functions fits the broker format, both following the same approach to the business.
  • 100monet had launched the service December 2014 BYNEX started the project October 2020 (100monet is operating for 5 years and 9 months longer).
  • 100monet operates without any registration or no information is available about the legal entity BYNEX obtained all the required permissions, got licensed, etc. (BYNEX 's approach to the business made it a safer and more stable solution).
  • 100monet allows users' registrations from 255 countries; and we are glad to say that the people from United States are welcome You are permitted to register at the BYNEX being a resident of any of 252 countries; but users from United States are not allowed, sorry (BYNEX green-lights some less countries).
  • When the client needs to pass through the KYC process at 100monet, they usually ask to provide some (it depends on various factors) documents and / or specific procedures The process of Customer Identification at BYNEX typically involves 2 individual procedures: the ID Verification, Phone Number Confirmation. (BYNEX would likely require you spending more time and efforts to verify your account).

So, is 100monet a better alternative to BYNEX? Such a conclusion by any means can't be drawn by us instead of you, but we'll try to assist with the matter. Since the 100MONET exchange service got a lower rating at our platform: 67 versus 100 that BYNEX accomplished, our advice is either to go for BYNEX, or, even better to look into few others first; particularly the ranked "best-of-the-best" TransCoin!

Like reading? In fact, there are more exchanges worth comparing to BYNEX, such as:

BYNEX vs 1-online

A comparison of the key features and the principal facts about 1-ONLINE versus BYNEX; just take a glance to decide if 1-online will be the optimal choice for you or at least if it's worth checking our full study:

  • 1-online is a broker The way bynex.by website functions fits the broker format, both following the same approach to the business.
  • 1-online had launched the service February 2017 BYNEX started the project October 2020 (1-online is operating for 3 years and 7 months longer).
  • 1-online operates without any registration or no information is available about the legal entity BYNEX obtained all the required permissions, got licensed, etc. (BYNEX 's approach to the business made it a safer and more stable solution).
  • 1-online allows users' registrations from 255 countries; and we are glad to say that the people from United States are welcome You are permitted to register at the BYNEX being a resident of any of 252 countries; but users from United States are not allowed, sorry (BYNEX green-lights some less countries).
  • When the client needs to pass through the KYC process at 1-online, they usually ask to provide some (it depends on various factors) documents and / or specific procedures In most of the cases, it takes about a day or two, as per the actual clientele survey results The process of Customer Identification at BYNEX typically involves 2 individual procedures: the ID Verification, Phone Number Confirmation. (BYNEX would likely require you spending more time and efforts to verify your account).

So, is 1-online a better alternative to BYNEX? Such a conclusion by any means can't be drawn by us instead of you, but we'll try to assist with the matter. Since the 1-ONLINE exchange service got a lower rating at our platform: 67 versus 100 that BYNEX accomplished, our advice is either to go for BYNEX, or, even better to look into few others first; particularly the ranked "best-of-the-best" TransCoin!

Like reading? In fact, there are more exchanges worth comparing to BYNEX, such as:

BYNEX vs Newline

A comparison of the key features and the principal facts about NEWLINE versus BYNEX; just take a glance to decide if Newline will be the optimal choice for you or at least if it's worth checking our full study:

  • Newline is a broker The way bynex.by website functions fits the broker format, both following the same approach to the business.
  • Newline had launched the service March 2016 BYNEX started the project October 2020 (Newline is operating for 4 years and 6 months longer).
  • Newline operates without any registration or no information is available about the legal entity BYNEX obtained all the required permissions, got licensed, etc. (BYNEX 's approach to the business made it a safer and more stable solution).
  • Newline allows users' registrations from 255 countries; and we are glad to say that the people from United States are welcome You are permitted to register at the BYNEX being a resident of any of 252 countries; but users from United States are not allowed, sorry (BYNEX green-lights some less countries).
  • When the client needs to pass through the KYC process at Newline, they usually ask to provide some (it depends on various factors) documents and / or specific procedures In most of the cases, it takes about a day or two, as per the actual clientele survey results The process of Customer Identification at BYNEX typically involves 2 individual procedures: the ID Verification, Phone Number Confirmation. (BYNEX would likely require you spending more time and efforts to verify your account).

So, is Newline a better alternative to BYNEX? Such a conclusion by any means can't be drawn by us instead of you, but we'll try to assist with the matter. Since the NEWLINE exchange service got a lower rating at our platform: 65 versus 100 that BYNEX accomplished, our advice is either to go for BYNEX, or, even better to look into few others first; particularly the ranked "best-of-the-best" TransCoin!

Like reading? In fact, there are more exchanges worth comparing to BYNEX, such as:

Conclusion: is BYNEX legit or scam?

Seems it's time to finalize the report, to make a judgment call. Is BYNEX a scam or is it a legitimate exchange? How secure the bynex.by website is? Can you trust BYNEX with your money? And (in our case) the most frequently asked question: Why the broker is not yet ranked at ExchangeRates.Pro? Let's start by answering the last question and, you'll see, the replies to the rest will follow. Can't wait? Help yourself jumping to the final verdict!

Why we hadn't yet ranked and fully listed BYNEX and what does it mean?

The routine for adding a new exchange, especially if it's a Broker, to ExchangeRates.Pro listing is rather a long process and it depends on few factors we don't control directly. Our approach to the process is «better be safe than sorry»; we already have 37 well-tested platforms providing similar to BYNEX functionality. 22 different exchange websites of broker type are among those and additionally, there are 4 peer-to-peer marketplaces. 9,840 exchange offers are available right away; these cover almost all the payment systems and local banks available in United States and North America for buying and selling BTC, cryptos, and tokens with , US Dollars, EURos, whatever. Hence, we never hurry to add more websites until we are 100% sure we did everything we could to verify the data and test every service well ourselves. It takes time. Moreover, there are two circumstances that are out of our direct control:

  1. All the exchange services, most notably the broker type ones are staying in the "pending approval" state until we collect at least a few reviews from the genuine customers, the ones we can actually verify. In addition, we monitor the clients' testimonials at the trusted review platforms, social networks, etc., and postpone the approval until we find enough evidence that the broker has no unresolved complaints and there are enough convincing users recommendations.
  2. We receive the new applications daily and like over 90% are from the other Brokers. It consumes a lot of time to check each and every one; there's a large queue and we have to be selective when choosing which applications to process first.

Exceptions from these two rules may happen only in very rare extraordinary cases. As you can see, we move forward with listing new exchanges slowly and the queue for Brokers is the largest one, but as a consequence, only the best brokers are getting approved. Although we can't endorse BYNEX and hadn't rated it (in full) yet, we believe that it should get approval if we won't receive any complaints.

So is BYNEX a legit exchange or a fraud?

BYNEX's profile really impresses! The scores look just like the ones for proven industry leaders, the service is provided by a licensed and regulated financial company, we are fascinated! Should we add that it's definitely not a scam? We consider this broker to be listed among approved websites soon and can recommend you try it yourself; you shouldn't be disappointed! And please, don't forget to post a testimonial after your exchange will be completed.

Suggested rating for BYNEX: 100 / 100

Alternative solution: how to find the best rate to exchange BTC & crypto in United States and North America

There is another way of finding the most worthy alternative to BYNEX that will work best for you. What if instead of opposing the features of various exchanges we'll compare the terms of the specific offerings that all the marketplaces, brokers, dealers, and even individual exchangers provide? That's exactly what our platform does! We assist you in choosing the most appropriate deal considering:

  • The fees and rates provided at the moment by 21 exchange websites of a "Broker" type and 9,840 other offers.
  • BTC/ exchange rate at those or BTC/USD, etc; the availability of service for the residents of United States (and the support).
  • Which local banks & payment systems out of 154 serving US are the fastest, most convenient and cost-efficient personally for you.
  • Amount you need to swap: say, the conditions for exchanging 1.01 will be significantly different from the terms of $62,591.0 conversion.
  • And of course, you see the rating, users reviews (up-to-date 529 real clients testimonials), etc. for all the offers available!
Buying and Selling BTC in United States

Our platform could find 46 offers to buy, sell, exchange BTC available to users from United States, and 37 of these are for the US Dollar currency. There are totally 27 exchange services supporting US. Some of those are providing the access to USD|BTC market, including such types as e-wallet, P2P Marketplace, Trading Platform, etc. 5 exchanges has active offers for these currencies right now; you can buy/sell using 20 local and international payment systems & banks! The local dealers and exchanges are mentioning the support of 16 local banking institutions and the payment systems. According to the latest data we have, the lowest fee to purchase BTC with USD locally is available for Etana, that's a local payment system. The most popular domestic options for purchasing BTC @ US:

Our software couldn't get an access to the data what's available at bynex.by for the clients from United States, however we are sure that you'll find a worthy alternative on one of 36 exchange websites we compare the rates at! Check out what the local dealers and platforms are offering: currently there are 16 domestic banks supported. Besides, you may find something interesting browsing 9,840 offers available with 20 ways to pay internationally, either to neighboring countries in North America or to any other part of the world.