Fall of P2P platforms, what's your opinion?

[Findingnemo]

Myself using Paxful for P2P trades before that I was using LBC for years because I used to be a day trader that gave me decent profits but now things changed exchanges have their own P2P integrated for example Binance P2P integrated with Binance exchange itself.

The emergence of exchange's P2P also increased the p2p scammers because they simply go with the reputation of exchanges which is irrelevant when we are doing P2P trades. Even the existing P2P platforms whether it's centralized like Paxful or decentralised like Bisq/Robosats, etc lacking liquidity for fish to crypto and vice versa.

Do you still use p2p platforms or exchange's P2P?

[Charles-Tim]

Even the existing P2P platforms whether it's centralized like Paxful or decentralised like Bisq/Robosats, etc lacking liquidity for fish to crypto and vice versa.

Do you still use p2p platforms or exchange's P2P?

I understand what you are trying to communicate but do not differentiate exchanges like Paxful which is only about P2P to exchanges like Binance P2P. They are all centralized exchanges.

The real P2P are decentralized exchanges like the ones that you mention last which are Bisq and Robosats. What I like about both these exchanges is the use of Tor, and IP address usage discouragement.

[armanda90]

Myself using Paxful for P2P trades before that I was using LBC for years because I used to be a day trader that gave me decent profits but now things changed exchanges have their own P2P integrated for example Binance P2P integrated with Binance exchange itself.

The emergence of exchange's P2P also increased the p2p scammers because they simply go with the reputation of exchanges which is irrelevant when we are doing P2P trades. Even the existing P2P platforms whether it's centralized like Paxful or decentralised like Bisq/Robosats, etc lacking liquidity for fish to crypto and vice versa.

Do you still use p2p platforms or exchange's P2P?

Looking for trusted seller on P2P exchange platform actually not difficult, check firstly how fast respond before making transaction with them and looking the realistic price of their order. I think some one easily get scam when making transaction trough P2P  because looking for lower transaction rate and its easily how the seller scam us.
In my P2P community, there are has trusting score with trust seller and making transaction there faster and need to check with their respond first before making transaction if want get delay transaction.

[SamReomo]

Do you still use p2p platforms or exchange's P2P?

I used to use p2p platforms for purchasing of Bitcoin in old days but now I don't even visit those sites.

I still use an exchange's p2p trading function and that has been a good experience for me so far.

I personally use Binanace's p2p trading and even with 100's of trades, I have never faced any major issues or got scammed by anyone.

[Zed0X]

The fall of no KYC P2P platforms is the price we have to pay for wanting BTC and crypto to be mainstream. More competition arises and platforms with less budget for development/improvement and advertisement won't be noticed by new traders. Less liquidity is a result of that.

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Do you still use p2p platforms or exchange's P2P?

When it come to converting crypto to fiat, seldom.

[Findingnemo]

Do you still use p2p platforms or exchange's P2P?

I used to use p2p platforms for purchasing of Bitcoin in old days but now I don't even visit those sites.

I still use an exchange's p2p trading function and that has been a good experience for me so far.

I personally use Binanace's p2p trading and even with 100's of trades, I have never faced any major issues or got scammed by anyone.

This is what I am talking about, users probably bought their first Bitcoin in LBC back in 2017 then deposited then on exchanges for trading activities but now even who used them are not using their anymore and the purpose of this thread might be finding out the reasons behind their fall.

Is it due to the convenience offered on exchange's P2P?

[Gladitorcomeback]

Myself using Paxful for P2P trades before that I was using LBC for years because I used to be a day trader that gave me decent profits but now things changed exchanges have their own P2P integrated for example Binance P2P integrated with Binance exchange itself.

The emergence of exchange's P2P also increased the p2p scammers because they simply go with the reputation of exchanges which is irrelevant when we are doing P2P trades. Even the existing P2P platforms whether it's centralized like Paxful or decentralised like Bisq/Robosats, etc lacking liquidity for fish to crypto and vice versa.

Do you still use p2p platforms or exchange's P2P?

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.

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.

[Rruchi man]

Do you still use p2p platforms or exchange's P2P?

I make use of exchange P2P just because it is what I am used to, but I am very careful of traders I trade with due to the consciousness of scammers  and usually take note of the traders I have traded successfully with.

[MrSpasybo]

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.

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.

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.

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.

[UNIVERSE]

Do you still use p2p platforms or exchange's P2P?

I've done this before using P2P, because in the past the fees for transactions were so large. However, it has been several years since I have not used P2P or P2P platforms individually with friends. Well here, there are actually pluses and minuses to using P2P. However, if it's in my country and it's a very large amount of money, I really don't recommend using P2P to withdraw money with a very high nominal value via P2P. because in my country it will become a problem. and are considered not paying taxes and the fines and sanctions will be heavier. because there are already tax provisions for transactions via local exchange here. So it's better to just play it safe.

[yhiaali3]

I think that p2p platforms are suitable for exchange and not for trading. I mean when you want to exchange one coins for another or fiat, p2p platforms are very good, especially decentralized ones. As for using them for trading, I do not think that it seems like a good idea, especially with the lack of liquidity and the long wait until it finds a buyer.

Personally, I use p2p platforms when I want to convert my coins into fiat. Otherwise, I don’t remember using them.

[jeraldskie11]

The emergence of exchange's P2P also increased the p2p scammers because they simply go with the reputation of exchanges which is irrelevant when we are doing P2P trades.

The real P2P carries a higher risk because there is no guarantee that you will receive what you want in exchange. However, P2P in exchanges is the best P2P since the funds of the buyers and sellers are in the hands of the exchanges, and if you try to defraud him/her, you will be discovered because he has the right to appeal. Your main concern is whether the exchange can be trusted.

[Mr. Magkaisa]

        -      Right now Yes, I'm still using p2p in a centralized exchange and maybe I've been doing it for more than 1 year, because the transaction is fast and I don't have to go through the bank instead of the local wallet apps that are sent directly.

So this is really a big thing for many communities here, honestly speaking, but I have not tried to perform a transaction on a decentralized platform.

[akeemqaz]

I don't think P2P platforms are still doing well and there is no sign of falling. Although, some platforms are banned in some regions but others are still working smoothly. Like when Binance P2P got banned in Nigeria, other exchanges Like Bitget and Bybit are working smoothly there with high numbers of P2P traders. Another thing is using P2P is the best way to sell your crypto asset to fiat.

[Faisal2202]

The emergence of exchange's P2P also increased the p2p scammers because they simply go with the reputation of exchanges which is irrelevant when we are doing P2P trades. Even the existing P2P platforms whether it's centralized like Paxful or decentralised like Bisq/Robosats, etc lacking liquidity for fish to crypto and vice versa.

Do you still use p2p platforms or exchange's P2P?

Yeah I am still using p2p platforms, because we can't buy and sell services and products directly with BTC or crypto in out country as its ban here, so we have to convert crypto into fiat via p2p and till now I have only used Binance p2p and I have faced not a single issue on it, I have never been scammed Alhamdulillah. I will say while making p2p trades we should be a little careful.

Like first choose the person who has made the most trades and has a high success rate, then completely read the policy of that seller or buyer before ordering, then contact them on chat after placing the order, and tell them to send the full payment, as many people use some kind of apps which deduct fee and those seller or buyer deduct the fee from your money, Don't pay the fee, ask them to not to use such apps as there are other baking apps that require no fee. I have faced this issue 2 times, but when I talked with them on message chat, they sent the remaining amount immediately. You have to be a little informative in order to avoid yourself from scams.