do you check feedbacks score of traders? - page 2.

dimonstration

hero member

Activity: 2716

Merit: 698

Dimon69

Quote from: Y3shot on February 12, 2023, 04:14:54 AM

When you sell your cryptocurrency in exchange do you care to check the review of the trader or you are only interested in selecting lower rate of buying and higher rate of selling. What makes you want to sell your coin to a particular trader in crypto exchange, do you care about review of traders or you go for the best rate to buy and sell?

It’s a combination for me but the first thing I always check is the rate. Most of the trader on P2P exchange has a food feedback and those bad feedback user usually offers a price that is far lower or higher than the average listing price.

Actually for me you can’t be scam on P2P even if you manage to make a transaction with bad reputation user because you can check everything if you receive the funds in your wallet before you confirm transaction for fund release. There’s also a feature to filter merchant only so that you can avoid those low ratings.

Husires

legendary

Activity: 1596

Merit: 1288

Without reading these ratings, you will most likely rely on luck to find a good trader, and if you are not lucky, you will be scammed.

I focus on negative feedback and how to respond to them more than positive one, and if a user has 100%, this is a bad indicator, especially if the number of transactions is large.

Well, solving these problems will determine the extent of trust in him.

Taskford

hero member

Activity: 2520

Merit: 783

Quote from: Y3shot on February 12, 2023, 04:14:54 AM

When you sell your cryptocurrency in exchange do you care to check the review of the trader or you are only interested in selecting lower rate of buying and higher rate of selling. What makes you want to sell your coin to a particular trader in crypto exchange, do you care about review of traders or you go for the best rate to buy and sell?

Yeah I personally check the feedback of those reliable trader since somehow they give insights about the latest happening about the market and what possible position you can sell or buy. But don't give to much belief on it and always believe on your own research or skills in trading since at the end of the day you are the one who's going to decide which price you want to sell it. But make sure you not became greedy and always do it when you are already in bullish condition.

rat03gopoh

hero member

Activity: 2212

Merit: 670

Signature designer - start @$10 - PM me!

Since feedback is the main preference of score rating then yes, I'll do every some time. And it is advisable not to be the type who likes to deal with new traders regardless of the lower fees offered, there are times when you'll find yourself at risk with an amiss traders. As long as the old trader services makes you feel comfortable, I don't think fees is a big deal anymore.

Pmalek

legendary

Activity: 2730

Merit: 7065

That's not what I asked you and you didn't answer any of the questions. I asked why are you using Binance's P2P trading platform instead of the standard exchange.
You can buy using fiat (credit, debit, SEPA transfers) on the standard exchange. Are you using some e-wallets that are only supported on the P2P exchange or what advantage does it give you that the regular exchange feature is missing?

Rikafip

legendary

Activity: 1722

Merit: 5937

Quote from: Pmalek on February 12, 2023, 04:33:55 AM

On a different note, can someone explain to me the benefits of using a custodial and centralized exchange such as Binance for P2P trading? What am I missing?
If you use the platform already, can't you just use the normal spot market to acquire the coins you want? Are the profit margins better for their P2P deals? Do you pay less in trading fees?

From what I saw, Binance P2P supports a lot of payment options to buy crypto (Advcash, Revolut, Skrill and hundreds more that I never even heard of) while if you want to buy let's say bitcoin on Binance using their regular way you will have few options only (debit cards, bank transfer).

Y3shot

full member

Activity: 560

Merit: 161

Quote from: Pmalek on February 12, 2023, 04:33:55 AM

It makes sense on Bisq or Hodl Hodl. Why do it on Binance?

Binance is where I can easily buy my bitcoin, but I don't Hodl in Binance or any centralized exchange. I used it because it is easy for me and the only exchange I know better.

Pmalek

legendary

Activity: 2730

Merit: 7065

Personally, I would rather pay a little more to trade with a person who has successfully concluded hundreds of deals and has +95% positive feedback, then taking a better offer from someone with a 50% success rate. You are also paying for the security and peace of mind.

On a different note, can someone explain to me the benefits of using a custodial and centralized exchange such as Binance for P2P trading? What am I missing?
If you use the platform already, can't you just use the normal spot market to acquire the coins you want? Are the profit margins better for their P2P deals? Do you pay less in trading fees?

It makes sense on Bisq or Hodl Hodl. Why do it on Binance?

Y3shot

full member

Activity: 560

Merit: 161

I know there are some reliable p2p exchanges where cryptocurrency currency can be traded, I know binance which is kind of reliable in trading cryptocurrency. In this exchanges their are traders that are not very reliable, if you go through the rating of some traders in exchanges you will see feedbacks or scores by some other traders to rate how the trade went.

When you sell your cryptocurrency in exchange do you care to check the review of the trader or you are only interested in selecting lower rate of buying and higher rate of selling. What makes you want to sell your coin to a particular trader in crypto exchange, do you care about review of traders or you go for the best rate to buy and sell?

Topic: do you check feedbacks score of traders? - page 2. (Read 197 times)