Secure BTC exchange: what every user needs to know
However, the routine nature of converting bitcoins to dollars comes with the risk of falling victim to scammers, and familiarity with the process only worsens the situation by lulling users into a false sense of security. How can you exchange bitcoins for dollars without losing your funds? There are several simple rules to follow.
1. Choose the exchange service carefully
Regardless of which bitcoin withdrawal method is used, it's essential to choose the platform carefully. Whether it's an exchange, an exchanger, or a Telegram bot — any of them could turn out to be a scam project.
The best approach is to check the history and reputation of the platform, as well as read user reviews. A high number of users, unfortunately, isn't always a good sign: inflating statistics is relatively easy, for both Telegram bots and websites.
Monitoring services such as BestChange can significantly help in selecting a secure exchanger. First, exchangers undergo thorough checks before being listed. Second, BestChange allows users to easily read reviews and get an idea of how a particular exchanger operates.
Additional signs of reliability should also be considered. One of them is a user verification system, especially for large amounts. Serious exchangers request at least minimal personal data, which shows transparency and an effort to comply with legal requirements.
Moreover, trustworthy exchangers lock in the exchange rate at the time of the request. This is especially important in volatile markets: a transparent fixed rate protects users from hidden losses.
Another important indicator is whether the exchanger has sufficient reserves. If reserves are low or missing, it may indicate low trust among users.
Finally, responsive technical support is also crucial. Reputable platforms provide fast communication channels, promptly answer user inquiries, and assist in case of problems.
2. Watch out for phishing
Phishing websites visually replicate well-known exchanges or exchangers, with only minor differences in the domain name.
Phishing is currently the most widespread method in cybercrime. According to a Verizon report, 36% of all data breaches from 2022 to the end of 2024 were caused by phishing attacks. IBM reports that phishing accounted for 16% of financial losses from cybercrime in 2024.
To avoid phishing attacks, always verify the website address you use to exchange bitcoins. This should be done every time — even familiar links may be swapped with phishing ones.
Mobile users are especially vulnerable to phishing, as browser address bars are often hidden or shortened on smartphone screens. Attackers exploit this via messengers and ad networks.
It's also a bad idea to store exchange and wallet links as bookmarks in your browser unless you're sure the device is secure — malicious browser extensions can silently replace saved links.
Another protective measure is enabling two-factor authentication (2FA) and using hardware wallets. Even if an attacker obtains your login and password, they won't be able to complete transactions without the second authentication factor. This significantly reduces the risk of theft.
3. Follow general "internet hygiene" rules
Viruses and other types of malware are also widely used by crypto scammers. New malware developments appear regularly.
For example, in March 2025, Microsoft released a report on the discovery of a new trojan, StilachiRAT, which has been spreading online since November 2024. The trojan collects vast amounts of data from infected devices — from logins and passwords to clipboard contents. Among other things, it scans systems for credentials to two dozen popular crypto wallets. Using alternative operating systems doesn't reduce the threat level — MacOS users are targeted by a similar trojan called XCSSET.
More advanced bitcoin-stealing viruses were exposed in a recent Kaspersky Lab report. A whole group of malware for Windows, Android, and iOS analyzes device screenshots. AI is then used to extract seed phrases from the images to restore access to crypto wallets.
Therefore, it's highly recommended to use antivirus software to protect your devices. Naturally, sensitive data such as seed phrases, logins, and passwords should never be stored in easily accessible formats, especially not as screenshots.
4. Stay vigilant with every action
The estimated volume of cryptocurrency stolen in 2024 ranges from $2.2 to $3 billion. As of the end of 2024, the number of lost-access bitcoins alone was estimated at 3.7 million, worth approximately $380 billion.
When performing any operations with digital assets, remember that cryptocurrency transactions are irreversible. If a user makes a mistake in the recipient address and sends BTC to the wrong destination, it cannot be retrieved.
Don't underestimate the risk of manual address entry errors: a single incorrect character can result in permanent loss. Using QR codes or built-in exchanger forms reduces this risk, but even then, double-checking all data before confirming a transaction is essential.
Additionally, when sending large amounts, it's a good idea to perform a small test transaction first. This simple but effective step ensures the address is correct and the recipient controls the wallet.