Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: Findingnemo on April 26, 2024, 09:32:05 AM
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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?
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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.
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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.
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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.
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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.
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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?
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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.
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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.
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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.
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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.
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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.
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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.
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- 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.
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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.
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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.
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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.
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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.
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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.
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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/
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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.
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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.
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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.
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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.
I don't think Binance uses its customers' points of view to determine whether they will continue their service in that country. They are just a business, if doing business in a country gives them trouble they will likely exit. IMO it is good if there is competition since monopoly will likely make everything harder for the customer too. If I were in your position, I'd hope other platforms start their services in your country so you don't rely on Binance, although it is odd that an exchange charges more just because you withdraw directly to a bank account. Are you sure it is not because you use a terrible exchange?
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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.
I don't think Binance uses its customers' points of view to determine whether they will continue their service in that country. They are just a business, if doing business in a country gives them trouble they will likely exit. IMO it is good if there is competition since monopoly will likely make everything harder for the customer too. If I were in your position, I'd hope other platforms start their services in your country so you don't rely on Binance, although it is odd that an exchange charges more just because you withdraw directly to a bank account. Are you sure it is not because you use a terrible exchange?
It's not a bad exchange, more precisely because there are regulations regarding the withdrawal of cryptocurrency assets which are taxed by the state. So like it or not, the exchange has to increase withdrawal fees, because the exchange also doesn't want to make a loss.
This p2p feature makes things very easy, because there are no state taxes. And I am grateful that in the future there will be many trading platforms that implement p2p, so we can have more choices.
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You should not be using P2P sites to trade bitcoin because the rates will be very variable and well deviating beyond the market rate. Even sometimes it can be 5%-10% higher. So you are not going to be making money this way, you will actually be losing money. To say nothing about the order delays.
P2P sites should be used for buying and selling only. If you want to trade, use a full fledged exchange.
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I think exchange is a lot more secure than most of these P2P platforms, because when trading via P2P, the most important thing to be considered is safety.
Although P2P platforms offer a lot more higher returns than the exchange P2P, as well as more flexible investment terms and conditions but we also need to acknowledge the fact that P2P platforms carries higher risks than exchange P2P due to it's less strict security and verification measures, plus their fees are also a lot more higher than exchange P2P.
Getting scammed via exchange P2P is somehow difficult, except you're careless and negligent, but if you're careful, then you can't just get scammed, and even when one gets scammed, it could be a lot more easier for the issue to be traced and attempt rectification due to it's strict security and verification measures.
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Do you still use p2p platforms or exchange's P2P?
Yes I have used p2p platform, I have good experience about p2p platform. I have used p2p from binance exchange and also p2p from bybit exchange platform. But I have never been scammed by anyone in my p2p usage. Many people may have been cheated in many ways but they were cheated because of their own failure. It is possible to deal with fraud if you are a little aware. At first I might have had a bit of a problem with p2p usage but now I'm pretty impressed with it and have no issues at all. At any moment at any time I can sell bitcoins in my local currency using p2p. Also I can buy and invest bitcoins with my local currency at any time.
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Do you still use p2p platforms or exchange's P2P?
TBH, I do use the exchange P2P frequently, hmm I Know about the identity exposure and risks involved in all this, but in emergency needs, exchange P2P is a far more efficient service compared to any other P2P service platform, Also mostly transactions are below $300 to $1k range so there's no problem with using the exchange service.
Still, there's a massive number of communities using P2P platforms other than the Exchange services, I think there's still space for the P2P platforms that need efficient UI, maximum features possible + big marketing haha because it's the core game without marketing no name and no name no userbase and no userbase dead existence.
Why CEX holds a grip on the market due to their marketing strategies and collaborations.
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I use it sometimes as long as there is liquidity of it, but the ones that everyone is suggesting, there is lack of liquidity of it. I know that we're all for the decentralization but it won't be applicable to use them when the people suggesting it don't even use it because of liquidity and volume issues.
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TBH, I do use the exchange P2P frequently, hmm I Know about the identity exposure and risks involved in all this, but in emergency needs, exchange P2P is a far more efficient service compared to any other P2P service platform, Also mostly transactions are below $300 to $1k range so there's no problem with using the exchange service.
Still, there's a massive number of communities using P2P platforms other than the Exchange services, I think there's still space for the P2P platforms that need efficient UI, maximum features possible + big marketing haha because it's the core game without marketing no name and no name no userbase and no userbase dead existence.
Why CEX holds a grip on the market due to their marketing strategies and collaborations.
P2P feature transaction is not depend on exchange transaction but which seller or buyer you make transaction, Binance, Kucoin or other exchange have P2P feature transaction as third party help the buyer and seller make transaction. I think when facing wrong seller your transaction make it delay and need to complain to exchange for getting refund or your transaction its process.
For small fund I used P2P for selling my stable USDT coin and looking most trusted and faster seller when making transaction, after selling my USDT and received in fiat without few minutes.
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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.
Bitcoin and crypto are still illegal in my country. so we have no chance to sell crypto in any other way than p2p method. Binance p2p has given us a lot of peace because before when we were going to sell crypto we were scammed but since Binance has escrow in the middle now we are rarely scammed. So I can convert crypto to fiat quite comfortably with Binance p2p.
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I don't use p2p for trading because I don't consider it the ideal way to trade but I use it to convert to my local currency since it's the only way available to us here.
The problem with p2p integrated with centralized exchanges is that they require KYC in most exchanges, so I do not prefer using p2p CEX. I prefer instead to deal with a reliable intermediary via Telegram, as it provides the necessary guarantee for both the seller and the buyer. I have used this method safely for years and it still works well. Until now.
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P2P platforms are unfortunately not truly p2p.
First, you have the core, the platform itself!
Second, the activity doesn't happen between just you and the other guy, if you sell for example you provide a stranger with your bank details, your skrill details your other payment method details, which in most cases what a surprise it's another centralized solution!
And the disadvantages are starting to not actually be that minor
- you not only have to deal with the platform rules, you have to deal with the payment gateway rules
- there are more people making a living out of your tx than normal (the trader, the platform, the money transmitter) this makes the whole thing costlier
- you don't save any time at all, things can go both faster and a lot slower than with a cex
And the most important thing I keep telling everyone about to watch out on p2p
- how do you know the guy behind that account is not either an undercover cop or that all his trading details or his bank transfers are already being leaked to the authorities? Let's suppose you wake up and read in the newspaper a guy in your town was arrested for doing p2p crypto transfers on the same website you used and your favorite trader goes offline the same day!
Would you sleep nice that night? Doubt it!
No wonder they are slowly dying!
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I prefer instead to deal with a reliable intermediary via Telegram, as it provides the necessary guarantee for both the seller and the buyer. I have used this method safely for years and it still works well. Until now.
Isn't that risky? How did you ensure that your trading partner was legit when you first made a deal with him? I do make deals with some forum members in the past but they have some sort of history before. If they are completely new then I'd go with an escrow. I guess the choice is limited if a forum or other platforms are not available in your area, hence why finding sellers through Telegram is an option.
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I don't like P2P because of the obvious scams which are going there. Still, if required, will choose a verified merchant with lots of past trades with good number of ratings even if his price demand is little bit high. It is better to pay a little more than to get entire money stolen because of frauds like chargebacks or scammers sending fraud money which might result in freezing of accounts or legal cases.
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I don't like P2P because of the obvious scams which are going there. Still, if required, will choose a verified merchant with lots of past trades with good number of ratings even if his price demand is little bit high.
That doesn't guarantee everything, even old members there will try to scam you if they sense they can get away with it, one huge scam might be better than 100 worth of trades in terms of revenue for that guy!
The best way to deal with those is to never deal with payments that can be reversed and never release the escrow before you have the money, never! If you follow common sense and the instructions most of those p2p2 are put up exactly for your safety there is little that can go wrong.
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Current there is a platform I am using their p2p service which I know is very nice even though binance delist NGN p2p is just for a reason that there two staff was detained and it's an insult to detained two staff and yet still provide services over there.
As we know there is no trusted platform that offers the best rather what we could do is to be extremely careful while making using of it because we could get scammed, so before releasing any digital assets we should be mindful and watchful to have received the opposite before releasing to buyer or seller.
Currently I am working on launching my p2p service mainly for my country only.
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Now a days P2P is very popular. Binance and some Other Exchanger opened P2P for that's local area. I think P2P is very usefull and helpful. I am a Bangladeshi crypto lover. A i am also a a Binance user. Frome some days i am also using Binance P2P. Now i can buy and sell dollars through Binance P2P. It is very easy and very safe i think. It not only for Bangladesh we know this P2P service is available for many country. And people can buy and sell his droller through his local currency.
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Isn't that risky? How did you ensure that your trading partner was legit when you first made a deal with him? I do make deals with some forum members in the past but they have some sort of history before. If they are completely new then I'd go with an escrow. I guess the choice is limited if a forum or other platforms are not available in your area, hence why finding sellers through Telegram is an option.
Public forums provide a good source to trade but they are not that efficient, most of the time you need to rely on escrow, Third-party P2P platforms are not preferred by everyone, and most people avoid them due to their KYC policy or some other restrictions. There are some good P2P platforms with higher liquidity but people these days prefer the easy approach rather than a proper private one they are willing to real identity for this as well.
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I don't like P2P because of the obvious scams which are going there. Still, if required, will choose a verified merchant with lots of past trades with good number of ratings even if his price demand is little bit high.
That doesn't guarantee everything, even old members there will try to scam you if they sense they can get away with it, one huge scam might be better than 100 worth of trades in terms of revenue for that guy!
The best way to deal with those is to never deal with payments that can be reversed and never release the escrow before you have the money, never! If you follow common sense and the instructions most of those p2p2 are put up exactly for your safety there is little that can go wrong.
Problem is most fiat P2P methods can be reversed, be it bank transfers, PayPal, AirTM. Unless the governments accept crypto P2P trading as something as legit business and orders the financial institutions to allow scrutinizing a case of crypto trade before taking action like chargebacks or fraud allegations, there will be problems. Best is to avoid P2P or use it for doing smaller trades with little amount so there will be less chances for getting trapped into any frauds.
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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.
Bitcoin and crypto are still illegal in my country. so we have no chance to sell crypto in any other way than p2p method. Binance p2p has given us a lot of peace because before when we were going to sell crypto we were scammed but since Binance has escrow in the middle now we are rarely scammed. So I can convert crypto to fiat quite comfortably with Binance p2p.
- It seems like it's so difficult that crypto is illegal in your country; the only way you can transfer crypto profit to our fiat is via p2p. Then p2p is really a big help, no joke. In any country, it is really useful to anyone related to crypto enthusiasts.
That's why I don't think that p2p will fall at this time, but instead it will be even more trending in the coming years. Because the time will come when countries will recognize Bitcoin and other top altcoins in the market.
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I don't use the p2p feature very often, but because I have an account at Binance and it turns out that Binance also supports the p2p feature, I chose to use services from Binance... that's not because of considerations comparing one platform with another, I'm just one of those people who don't want to be complicated when you want to make a withdrawal in FIAT form....
Some people may consider security, price, features and some other services... but when I understand that Binance has a better reputation than myself, it's like an advantage in itself that makes my heart choose Binance.... no pun intended. recommending Binance or badmouthing other platforms, but because I very rarely do p2p exchanges so I just took simple steps.
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I don't use the p2p feature very often, but because I have an account at Binance and it turns out that Binance also supports the p2p feature, I chose to use services from Binance... that's not because of considerations comparing one platform with another, I'm just one of those people who don't want to be complicated when you want to make a withdrawal in FIAT form....
Some people may consider security, price, features and some other services... but when I understand that Binance has a better reputation than myself, it's like an advantage in itself that makes my heart choose Binance.... no pun intended. recommending Binance or badmouthing other platforms, but because I very rarely do p2p exchanges so I just took simple steps.
Binance has been providing transaction support using the P2P method for a long time. This method can be used in several countries that prohibit the use of Binance to make it easier for users to make withdrawals using the local currency they use. P2P which is supported by Binance will not allow its users to be deceived so it is certain that when we use P2P on Binance it will still be safe. But this depends on where you live, if where you can still access Binance and can withdraw assets into local currency easily then you can use other methods besides this method.
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Binance has been providing transaction support using the P2P method for a long time. This method can be used in several countries that prohibit the use of Binance to make it easier for users to make withdrawals using the local currency they use. P2P which is supported by Binance will not allow its users to be deceived so it is certain that when we use P2P on Binance it will still be safe. But this depends on where you live, if where you can still access Binance and can withdraw assets into local currency easily then you can use other methods besides this method.
It doesn't matter where you live, if I remember correctly Binance was the first centralized exchange that included p2p service into their exchange after the successful launch of the payment gateways, it has been one of the successful thing I enjoyed with centralized exchanges but you know they can't be trusted, they will always be exchange no matter what.
I just think that no matter how smart a system is designed to avoid scammers, they will always find a way to dupe people and this is why the common ones like trading outside the exchange is highly discourage and also to always checked account balance before trade is completed.
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- It seems like it's so difficult that crypto is illegal in your country; the only way you can transfer crypto profit to our fiat is via p2p. Then p2p is really a big help, no joke. In any country, it is really useful to anyone related to crypto enthusiasts.
That's why I don't think that p2p will fall at this time, but instead it will be even more trending in the coming years. Because the time will come when countries will recognize Bitcoin and other top altcoins in the market.
Country can ban Bitcoin for different reasons and the legality of it can be changed depends on it, most countries banned because they think it's against their religious beliefs and some countries pointing scams regarding crypto as an excuse which all are just BS.
Anyway this isn't really about Binance P2P, it's more about exchanges like Paxful of Bisq where we actually use them only for P2P trade not the conventional trading.
Even though some P2P needs mandatory KYC which I will say acceptable compared to submitting every crypto related transactions to single crypto platform that leads to monopoly and over the time it brings centralized ecosystem in the decentralisation that's why it's important to use diverse platforms to keep the system with enough platforms to stay in the competition.
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I don't use p2p for trading because I don't consider it the ideal way to trade but I use it to convert to my local currency since it's the only way available to us here.
The problem with p2p integrated with centralized exchanges is that they require KYC in most exchanges, so I do not prefer using p2p CEX. I prefer instead to deal with a reliable intermediary via Telegram, as it provides the necessary guarantee for both the seller and the buyer. I have used this method safely for years and it still works well. Until now.
Not sure how you get to know a reliable intermediary to trade with on Telegram as a first time user. It is more reliable trading P2P on a centralized exchange since for the most part, the platform already verifies their merchants and you could also see the rating. I use Bitget P2P which has proven to be fast and reliable. For another level of security, I trade only with merchants with 98/100 rating. I previously used Binance but that has changed since I found a better alternative.
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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.
Same thing here. TBH, I haven't try those decentralized P2P exchanges still, but who knows. One day, when those CEXes are gone, we will be using those decentralized P2P exchanges. :D Nevertheless, I'm comfortable with using P2P from exchanges. I sell some Bitcoins that I'm getting on signature campaigns on Binance through P2P, and so far, I haven't experience anything bad on it. Didn't get scammed, didn't get any problems either. I mean why find another one if you find your current helpful and has no problems at all.
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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.
Same thing here. TBH, I haven't try those decentralized P2P exchanges still, but who knows. One day, when those CEXes are gone, we will be using those decentralized P2P exchanges. :D Nevertheless, I'm comfortable with using P2P from exchanges. I sell some Bitcoins that I'm getting on signature campaigns on Binance through P2P, and so far, I haven't experience anything bad on it. Didn't get scammed, didn't get any problems either. I mean why find another one if you find your current helpful and has no problems at all.
So far decentralised P2P which is Bisq is almost zero volume for most fiat but it could be active if government forces the users to stop using crypto currency until that the centralized p2p will be seeing most of the traffic.
But my concern is we are gonna let Binance to handle everything of crypto market or we should keep some of the competition to get fair share because we know what will happen if there's one or two exchanges only left then they will decide everything and users will be left with no choice other than accepting their terms.
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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?
I have only used external p2p in the past once, which was on the Telegram platform, and it turned out to be a scam. Since then, I have never used any p2p platform except the exchange p2p, which I have been using for quite a while, and I never get scammed.
To my understanding on exchanges p2p especially Binance, Kucoin, and the Bybit platform I have used, it is the exchange that will stand as escrow for your respective transactions to make sure there is no form of scam during the transaction, which is why I think it is better. I heard of some non kyc exchanges that do the same thing, and their main advantage is the lack of kyc, which is better for our privacy.