Topic: CEX P2P under Governments Attack, let's Embrace DEX P2P - page 2. (Read 201 times)

Should we say they wouldn’t stop at nothing to actually get bitcoin or cryptocurrency at large under their control, they have basically moved from banning to restrictions and vice versa. They started with mining rig banning, moved to mixers and now I think they are banning P2P trading on centralized exchanges.

The economy of most countries are looking bad mostly due to inflation of goods and even the countries currency. Nigeria to be precise blame P2P traders as those manipulating its currency (Naira) against international currencies and making it devalued and as such are after every know exchange offering P2P.

To me centralized exchanges are even the easiest way that government can get anything related to control over P2P trading but they are negligent of it. Many people will move to DEX which are more hard to track than Centralized exchanges that they can easily get some informations from if they regulate them and also tax them



The problem was that Kycnot.me did included this centralized exchanges at first as decentralized exchanges mainly because they didn’t require KYC then to trade on them. This exchanges moved on over to getting people verify their KYC example is KuCoin but the site (kycnot.me) didn’t update the site for a while. The developer of the site had to come down here to clarify that.

I Can’t seem to find his post again. Will update the link if I do

Here is the post https://bitcointalksearch.org/topic/m.62679538

I can remember that kycnot.me included Kucoin, Agoradesk, Localmonero and many other centralized exchanges. Many centralized exchanges are claiming that they are decentralized but they are centralized.

Some people even think exch.cx is decentralized which is also included on kycnot.me but that is not true, it is an instant exchange and it is centralized. Only very few exchanges are making use of nodes instead of central server. A good example of decentralized exchange is Bisq.network that does not depend on a central server while most other exchanges are centralized or have a bit of centralization.

People should not get it wrong. kycnot.me means exchanges that does not require KYC and not exchanges that are decentralized.

In Nigeria, Yes, P2P exchanges war has started. Binance, Kucoin, OKX are gone. We may wake up one day to the other P2P exchanges joining them.

• Binance to stop services in Nigerian Naira amid crackdown on crypto exchanges
• KuCoin pauses P2P trading in Nigeria amidst regulatory concerns

My country's leadership is yet to catch up with what mixers are. They still blame the centralized exchanges for the falling and failing economy. I know when they learn about mixers then they'll put out a press release on them.

It is a crazy country we live in but what a time to be alive.

Hodlhodl isn't even a decentralized exchange, even worst they might ask to submit KYC, people should avoid to use hodlhodl if they want privacy.

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These all aren't decentralized exchanges, they're P2P service that connected to centralized server, the only decentralized exchange is Bisq, the rest are centralized. Bisq users don't need to worry if the government ban the sites, as long as people already download and installed the exchanges, no one can't shut down the server except there's no internet connection.

It's misleading, better to check the exchanges on kycnot.me

Has a P2P exchanges war really started? I thought the government was tracking mixers or any tool used to enhance privacy, not P2P exchanges, as some of these services are still working.

if the government decides to consider them illegal, they will most likely arrest the developers, so the developers must be anonymous and use code hosting services away from GitHub. Then managing an entire node or all of the communication through Tor, and the problem that is always repeated will be liquidity.

but with the increasing number of people using decentralized exchanges, this will be a reason for the government to seize and terminate these websites on the grounds that these exchanges operate in a non-transparent manner and are prone to money laundering. it's the same as mixers, which were not initially banned by the government, but with the increasing number of people using them to launder money, the government made it an illegal service. i'm not against decentralized exchanges, but i'm just saying that the potential that with the increasing number of users means that decentralized exchanges will become targets for tough action from the government.

Decentralized p2p exchanges is best where crypto is banned or restricted by the banks and for anyone who seeks ultimate privacy but the main problem with p2p is chargebacks and funds received from hacked bank accounts, PayPal, credit cards, and any payment mode and fiat is the one will be frozen if we are talking about crypto to fiat p2p platforms so if it centralized then we can at least make sure the trader we deal with have the reputation of such while truly decentralized which is uncertain for sure.

Another thing is less liquidity and premium rates and that's what we need to pay if we seek ultimate privacy.

CENTRALIZED P2P UNDER GOVERNMENTS THREAT, IT'S TIME TO EMBRACE THE USE OF DECENTRALIZED EXCHANGES P2P.


My aim for creating this thread is to help us identify the differences we have from using a decentralized exchange p2p from a centralized one, their implications as well as the benefits that includes their uses and why government regulations and ban on centralized exchanges p2p is not the only hope for us.

1. Are you having challenges with government regulations on the use of centralized exchanges for p2p, then I think this thread is best for you.

2. Do you care about your informations provided on exchanges and want to avoid KYC, then this also is for you.

3. Have you realized that you needed privacy and a platform that can be rest assured for your trades and exchange of cryptocurrencies, then you needs a decentralized exchange p2p for that.

It's no more new to us that centralized exchanges comprises a number of cryptocurrencies in which we cannot mention all in their number and many chooses to use them for their trades (p2p) the most, whereas decentralized exchange were being selective in number of crypto coins you could find in them and you may not have to bother on KYC before using a decentralized exchange.

THE CHALLENGES

If we look into considering what centralized exchanges are passing through of recent, we will get discouraged because the attacks aren't on them alone, but as well to victimized their users by governments, you can check for this quick recap on what some of the centralized exchanges are facing with specific countries and the government regulations.

IN UNITED STATES

The centralized exchange Binance is banned, you can read more on that https://thesmallbusinessblog.net/why-is-binance-banned-in-the-us/

IN CANADA

You can read more about the list of banned centralized crypto exchanges https://rankfi.com/ca/banned-crypto-exchanges-canada/

IN NIGERIA

Binance, OKX and Kucoin exchanges ban crypto p2p
https://techpoint.africa/2024/05/15/kucoin-temporarily-suspends-p2p-naira/
https://www.google.com/amp/s/coingape.com/binance-other-crypto-firms-faces-ban-nigeria-here-why/amp/

IN INDIA

Some exchanges were banned and some were not, check on their list here
https://www.forbes.com/advisor/in/investing/cryptocurrency/india-fiu-ban-impact-on-crypto-investment/#:~:text=Cryptocurrency%20exchanges%20like%20Binance%2C%20Kraken,the%20PML%20Act%20in%20India.

This is just to mention but few among the countries where crypto ban on centralized exchanges p2p have been once experienced, China and Iran were not left out together with many other countries having major ban either on crypto or exchanges p2p.

LIST OF COUNTRIES THAT HAVE BANNED BINANCE EXCHANGE P2P

Consideration is giving on Binance in this case because it's the leading and world most recognized biggest crypto centralized exchange.
https://www.nairaland.com/8018122/countries-where-binance-banned-restricted

WHY THE NEED FOR DECENTRALIZED EXCHANGES

1. We needs privacy
2. We are tired of KYC
3. We need to be free from government regulations on centralized exchanges
4. We needed a platform that guarantees for the use of p2p like the decentralized exchanges
5. Centralized exchanges constitutes of shitcoins sometimes or mostly.

DECENTRALIZED EXCHANGES

Most Recommended
https://bisq.network/

(Edited) HodlHold is centralized
https://hodlhodl.com/

Other Decentralized Exchanges

Warning! You may have to DYOR before using anyone on this category, some of them still uses central serve, check their list here.
https://www.alchemy.com/best/decentralized-exchanges-dexs

As governments are threatening on the use of P2P on centralized exchange, we should remember that decentralized exchanges p2p can give us the best experience in achieving our desired expectations from using them, we can afford the use of VPN or Tor in in achieving their usage.