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Cryptocurrency Trading / Re: Fall of P2P platforms, what's your opinion?
« on: April 26, 2024, 11:26:03 PM »The only external P2P platform that I've ever used was Localbitcoins and it was far back when they weren't even asking for KYC verification and stuff, later when Binance started its P2P services, I moved to Binance because I was already making my trades on the platform and it was more convenient because I didn't have to withdraw the funds to the external platform to sell them for fiat as I could do that directly within Binance.Well, I also used Localbitcoins when I first entered the crypto market. That's where I bought my first satoshi. Its interface is quite user-friendly, although not as modern as Binance P2P. Besides, Remitano is also a place I used when I was in Vietnam, it was also very popular in 2018. Unfortunately, they currently do not serve users in my country so I can no longer use them.
So somehow, I also agree that after the emergence of in-exchange P2P services, the platforms that were providing P2P services alone started fading away, this was the basic reason why Localbitcoins closed shop because they weren't getting enough users after Binance and other exchanges started providing P2P services.
Binance P2P has become a better choice for me and my friends: very good liquidity, good support and very easy to use. I think new P2P platforms will find it difficult to compete with the P2P services of leading CEXs. I would never try using a new P2P platform, it could be a scammer's trap.