Ukraine's shadow or black currency market has always existed, but it has been growing rapidly over the past few years. Its key advantage is a favorable exchange rate, which allows you to save money when exchanging large amounts of money. On the black market, you can buy and sell without the participation of any licensed institutions, only individuals.

The black market instantly responds to changes in the country, which is important in a war and unstable situation. This exchange platform is intended for a fairly wide audience. Anyone can visit the black market, just use the Internet. There is no need to prepare a package of documents. In such an exchange, you need to be very careful and prudent, because you can run into a fraudster.

What determines the dollar exchange rate on the black market?

The exchange rate can be affected by various factors:

• Official exchange rate in banks and on the interbank market (state) - it reflects the overall economic situation.

• Demand for foreign currency among the population.

• The commercial exchange rate in exchange offices, which fluctuates depending on the supply and demand for currency.

• Economic situation in the country and actions of the NBU.

• A currency deficit or surplus - for a currency that is more difficult to obtain, the black market rate is much higher.

The price of currency on the black market reflects the real demand among the population. The exchange rate also reflects speculators' expectations about the development of events.

How to make deals safely and avoid fraudsters when exchanging currency on the black market?

The black market can offer much better conditions than a bank or exchange office. However, the modern financial market is saturated with various offers from unofficial exchange offices and fraudsters who can easily leave a client without money. Therefore, we recommend that you read reviews and search for information before making a transaction.

Since the black market is not regulated by the state in any way, no one can give you a guarantee that you will not be deceived.

How to buy currency on the black market safely?

Here are some simple recommendations on how to find a favorable exchange rate on the black market and buy currency without risk:

• First, you need to monitor the course on the Internet and find an offer that will be profitable.

• Call an exchange office to find out the real exchange rate and availability of currency.

• Check the official website and physical addresses of the exchange points, if any. The best guarantee is a personal exchange.

You should buy currency in fairly crowded places and count the required amount very carefully. This way, fraudsters won't confuse you and won't plant counterfeit bills.

How to safely sell currency on the black market?

Sellers are also not protected from fraudsters. Before making a transaction, you need to study each segment well and consider the benefits of such a shadow exchange. To make a black market transaction safe, we recommend selling currency in trusted places, but not at home. A place near a bank will be good. This way, you can immediately check the currency you bought. You can also come to a meeting with a colleague.

There will be no restrictions on the volume of purchases or sales on the black market. There is also no commission. You can exchange currency at no additional cost. On the other hand, this method is illegal, and there will always be certain risks. A safe alternative to black market exchanges is electronic services where transactions take place online.