Fall of P2P platforms, what's your opinion?

[TomPluz]

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

I am not actually into heavy trading activity but whenever I am planning to convert my coins into cash I would prefer P2P because I find it very convenient, fast and actually safe because of the escrow service by the platform I am into. I got into P2P because of Binance but since it is not anymore allowed in my country, I just shifted to Bybit which is also good for me so far. as for safety and security, we have to be careful in choosing the P2P trader and make sure one is really into reading the details of the offer so there will be no surprise. In my own experience with P2P in CEX exchanges, I find no other good option that is more suited to my situation and area of origin. As for P2P in DEX, I got zero experience with this alternative though I heard of Localbitcoins (closed since 2023) before.

[Agbe]

Bitcoin was designed to use p2p so without p2p then nobody can use  bitcoin or any other cryptocurrency. And any cryptocurrency tht is not using p2p is not worth investing or to be used . And any exchange that removes the p2p button or feature or function it becomes dysfunctional. So all exchanges have the pwp feature for easy trading and transaction. But the real p2p (to pay) of bitcoin is dead and the second p2p (investment ) is actively performing it duty. And anyone who comes to the cryptocurrency market and invest in it must use the p2p for transaction. And as I said in another thread just recently, Binance removed p2p from their services in my country and everyone left it and use another exchange. Though some are still using to to trade and send the coins to another exchange that has p2p.

[Findingnemo]

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

I am not actually into heavy trading activity but whenever I am planning to convert my coins into cash I would prefer P2P because I find it very convenient, fast and actually safe because of the escrow service by the platform I am into. I got into P2P because of Binance but since it is not anymore allowed in my country, I just shifted to Bybit which is also good for me so far. as for safety and security, we have to be careful in choosing the P2P trader and make sure one is really into reading the details of the offer so there will be no surprise. In my own experience with P2P in CEX exchanges, I find no other good option that is more suited to my situation and area of origin. As for P2P in DEX, I got zero experience with this alternative though I heard of Localbitcoins (closed since 2023) before.

LBC shut down primarily because of not enough profits and Paxful went down the same road but came back to life in just few months..I am using Paxful for crypto to Fiat and vice versa because that way I can have better privacy from the authorities which is not that I am not paying taxes but not really comfortable in showing them I am doing crypto investment so in future I can still hold my BTC and cryptos if they take unexpected turns.

[tranthidung]

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.

Paxful, LocalBitcoins, LocalCryptos and even more P2P marketplaces shut down their business. I know Paxful came back weeks later after Ray Youssef left the company.

The service closures of P2P marketplaces are explainable with more stricter regulations on these platforms. Because with stricter regulations against money laundering, there are bigger risks of sanctions, expensive charges on those platforms and their CEOs. If they feel risky, they will go ahead and self-close their services.

You can find some from https://kycnot.me/

[Vx1]

Until now I am still using the p2p platform on Binance, and until now it has been safe.  Because I think this is the easiest way to withdraw money from crypto Exchanges to my conventional bank account. I have never done other p2p platforms, and we really have to be careful if we want to trade on a p2p platform.

[TopT3ns]

Until now I am still using the p2p platform on Binance, and until now it has been safe.  Because I think this is the easiest way to withdraw money from crypto Exchanges to my conventional bank account. I have never done other p2p platforms, and we really have to be careful if we want to trade on a p2p platform.

If your country still has people offering P2P then it will make it very easy for you to withdraw money, but for certain countries they may no longer be able to make withdrawals using any method, including using P2P. Hopefully Binance will still open P2P in every country to make it easier for traders to make withdrawals.

[Vx1]

Until now I am still using the p2p platform on Binance, and until now it has been safe.  Because I think this is the easiest way to withdraw money from crypto Exchanges to my conventional bank account. I have never done other p2p platforms, and we really have to be careful if we want to trade on a p2p platform.

If your country still has people offering P2P then it will make it very easy for you to withdraw money, but for certain countries they may no longer be able to make withdrawals using any method, including using P2P. Hopefully Binance will still open P2P in every country to make it easier for traders to make withdrawals.

I am sure that p2p trading on Binance will continue for us, because it really makes it easier for us to withdraw money to our personal bank accounts or digital wallets. If this is removed, it will definitely make it difficult for us to withdraw money from the exchange directly to our bank account. 
Because if you want to make a direct withdrawal from the exchange to a bank account, without going through p2p trading, you will be charged a large fee plus state taxes too.